Despite a new wave of Covid-19 cases in Thailand, Chinese buyers are prepared to purchase Thai properties in the second half of 2021, driven by the expectation of a distribution of vaccines and the reopening of inbound tourism.
Last year, the top five countries where Chinese property buyers made the most enquiries were Thailand, followed by the US, Australia, Canada, and Japan. In 2019, Thailand also led the way, followed by Australia, Japan, the US and Canada, respectively.
Credit Source: www.bangkokpost.com
So, why Thailand?
Let's take a look at some of Thailand's highlights:
An affordable destination with a high-quality lifestyle
Eastern Economic Corridor (EEC)
The Eastern Economic Corridor (EEC) will help contribute to strong economic and real-estate price growth. The EEC is a Thai government Initiative. The Royal Thai Government has laid out a 20-Year Strategy for Thailand to achieve high-income status by 2036.Their strategy includes a wide range of top-down initiatives, especially in infrastructure and people development, to transform Thailand into a nation that can compete against wealthier, more knowledge-based economies.
Called as "Thailand 4.0", taking a cue from the concept of "Industry 4.0" it's aimed at transforming the country into an innovative, value-based industry, with an emphasis on 12 fields such as automation and robotics, aviation and logistics, biofuel and biochemicals, and digital.
Credit Source: www.eeco.or.th
High-speed rail (part of China’s Belt and Road Initiative)
In 2021, Thailand will complete Bang Sue Grand Station, the biggest rail station in Southeast Asia as part of its plans to upgrade the country’s public transport system, support the country’s role as a regional transport hub and improve its international communications.
Bang Sue Grand Station will be a stop for Thailand’s first high-speed train project. Once completed, this project will enable travellers from Bangkok to reach the Laotian border in three hours, rather than 11 at present. This line will be extended to link with the rail line being built through Laos as part of China’s Belt and Road Initiative.
Credit Source: www.globalconstructionreview.com
Thai Government Critical Supports for the Property Market
Thai government supports the property market, such as offering long-term residency visas in exchange for property investment.
Three luxury condo projects had already signed up with Thailand Privilege Card (the operator of Thailand Elite Card), with about 200 sales expected. That would result in some two billion baht in investment into the country.
Credit Source: www.thailandelite.com
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