Thai properties at risk as Chinese buyers go cold amid abduction, trafficking news
Recent safety concerns in Southeast Asia are deterring Chinese investors like Evelyn Lin from visiting or investing further in the region. Lin, who bought a flat in Bangkok for US$274,000 in 2018, has expressed reluctance to return to Thailand due to recent kidnappings of mainland Chinese and trafficking incidents involving Hong Kong residents. These incidents have shaken her confidence in the safety of the area, despite her previous positive experiences there.
The hesitation of investors like Lin could significantly impact Thailand's property market, as Chinese buyers are the largest group of foreign investors. In the first nine months of 2024, they purchased 4,386 residential units worth 20.2 billion baht, surpassing the investments of the next nine largest foreign investor groups combined. This shift in sentiment poses a threat to local home builders, who are already dealing with a supply surplus. The recent rescue of Chinese actor Wang Xing from a scam operation in Myanmar, after being abducted in Bangkok, further highlights the risks and contributes to the growing wariness among potential investors.
via SCMP Full Text Feed
Recent safety concerns in Southeast Asia are deterring Chinese investors like Evelyn Lin from visiting or investing further in the region. Lin, who bought a flat in Bangkok for US$274,000 in 2018, has expressed reluctance to return to Thailand due to recent kidnappings of mainland Chinese and trafficking incidents involving Hong Kong residents. These incidents have shaken her confidence in the safety of the area, despite her previous positive experiences there.
The hesitation of investors like Lin could significantly impact Thailand's property market, as Chinese buyers are the largest group of foreign investors. In the first nine months of 2024, they purchased 4,386 residential units worth 20.2 billion baht, surpassing the investments of the next nine largest foreign investor groups combined. This shift in sentiment poses a threat to local home builders, who are already dealing with a supply surplus. The recent rescue of Chinese actor Wang Xing from a scam operation in Myanmar, after being abducted in Bangkok, further highlights the risks and contributes to the growing wariness among potential investors.
via SCMP Full Text Feed
