Chinese investors are making a move on the Pattaya real estate market. While they typically look for big city destinations like Sydney and Vancouver, it would seem that many Chinese investors are going against the norm and choosing more tropical scenes.
Thailand is seeing a surge of Chinese buyers due to the cost of living in China and a desire to secure an offshore foothold. The average home in Thailand is a quarter of the cost of a home in larger Chinese cities like Shanghai.
One of the most popular places for Chinese investors is Pattaya, where in the last 12 months; buyers have snatched up about 20% of the condos from Kingdom Property.
Higher prices in the traditional real estate investment cities are pushing investors to find the next best thing, at a cost to return ratio that is acceptable to them.
Investors have been flocking to places like Pattaya, Johor Bahru and Orlando, where prices are lower, even as the Chinese government attempts to stifle the amount of capital leaving the country and the trend is showing no signs of slowing down anytime soon.