Chinese condo purchases likely depressed this year

Condo transfers from Chinese buyers in Thailand are expected to remain at less than 40% of foreign transfers for the second consecutive year, as tourism from the nation softens and the recent earthquake dents confidence, according to Krungthai Compass, the research centre under Krungthai Bank. The Myanmar earthquake also affected some areas of China, and Krungthai Compass predicts the disaster to reduce demand and purchasing power among Chinese condo buyers, though the impact is expected to be short-term. Chinese buyers remain the leading group for condo transfers to foreigners in Thailand, followed by buyers from Myanmar, Russia, Taiwan, and the US.

Author: Somruedi Banchongduang

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