Foreign buyers boosts Thai property market growth in 2017, says consultant
Thai residential market received additional investment from mainland Chinese despite stricter outbound investment rule, says Knight Frank Thailand
The Thai residential market benefited last year from foreign buyers, as new supply hit the market with innovative designs and modern facilities helping to grow property investment, according to property consultant Knight Frank Thailand.
Frank Khan, executive director and head of residential projects said an appealing investment climate gave foreign investors the chance to capitalise on their purchases without being affected by high taxes and stamp duties.
Last year also witnessed several listed developers significantly capitalised on their market shares because of the influx of foreign buyers.
Mr Khan said the Thai residential market obviously received additional investment from mainland Chinese, even with stricter outbound investment rules.
The Bangkok metropolitan area in particular was a prime investment location. Several mid-priced condos in the capital have as much as 40 per cent Chinese uptake. That uptake was actually quite slow until the second half of 2017 because of more strict controls from the Chinese authorities on transferring money.
Roadshow expansion throughout Asia-Pacific, including China, marked an important part of marketing activities last year, a trend that should grow in 2018, he said.