News Forum - Chinese buyers dominated Thailand real estate market in 2021

[Thaiger]

The acting director of the Real Estate Information Centre (REIC), Wichai Wirattaphan, has stated that Chinese nationals accounted for nearly 60 percent of condominium purchases in Thailand in the first nine months of 2021. The statistics released by the REIC show that foreigners from the following five nations were the top investors of properties in Thailand: China, Vanuatu, United States, United Kingdom, France. In that order. Wirattaphan claimed that although Vanuatu nationals only purchased 23 units, they created a significant effect in the real estate market since each property was valued at an average of 44 million baht, accounting for […]

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[LandOfSmiles]

Not surprising at all. Soon Chinese will own a majority of properties in Thailand and Thai nationals will be renting from Chinese and be indebted to them. I wonder if it's part of China's national agenda for Chinese nationals to buy up properties in SE Asian countries. It's an expansion of their soft power and control over smaller neighboring nations like Thailand.

[Artemis080]

The Vanuatu passport holders were all Chinese too probably. You can just buy citizenship by investment in 3 weeks. There is so much money in there right now waiting to be spent.

 

[LandOfSmiles]

Wow, that's insightful. And I bet it's 100% correct. I once knew a guy from Vanuatu. He definitely couldn't afford to buy a condo in Bangkok. He couldn't even afford to fly home and visit his island home on the holidays.

[TimAn]

9 minutes ago, LandOfSmiles said:

Not surprising at all. Soon Chinese will own a majority of properties in Thailand and Thai nationals will be renting from Chinese and be indebted to them. I wonder if it's part of China's national agenda for Chinese nationals to buy up properties in SE Asian countries. It's an expansion of their soft power and control over smaller neighboring nations like Thailand.

Most of chinese ppl are just normal like everyone from EU or North America. Most of them were bluffed by the Chinese agencies that Thai real estate is same as Chinese bubble real estate, as "you buy it, you can easily get 10% profit each year and easy to resell it all the time". Except some of rich businessman and corrupted government official who wants to transfer assets overseas. after all, the CN government takes the strictest rules for foreign currency rules which is 50,000 USD/ Year/Person.

[LandOfSmiles]

4 minutes ago, TimAn said:

Most of chinese ppl are just normal like everyone from EU or North America. Most of them were bluffed by the Chinese agencies that Thai real estate is same as Chinese bubble real estate, as "you buy it, you can easily get 10% profit each year and easy to resell it all the time". Except some of rich businessman and corrupted government official who wants to transfer assets overseas. after all, the CN government takes the strictest rules for foreign currency rules which is 50,000 USD/ Year/Person.

I wonder if you are Chinese? In my experience, the average Chinese has a VERY different mentality than "everyone from EU or North America."

[Artemis080]

30 minutes ago, LandOfSmiles said:

Wow, that's insightful. And I bet it's 100% correct. I once knew a guy from Vanuatu. He definitely couldn't afford to buy a condo in Bangkok. He couldn't even afford to fly home and visit his island home on the holidays.

Having been to Vanuatu a few times, it's definitely not the locals and many expats living there left when everything collapsed during covid.

[TimAn]

8 minutes ago, LandOfSmiles said:

I wonder if you are Chinese? In my experience, the average Chinese has a VERY different mentality than "everyone from EU or North America."

Yes I am. Don't misunderstand what I said "everyone from Eu or North America". I was saying despite of the lower income than Western ppl, the 90% of them are honest, hardworking, non-harmful and friendly just manipulated by CCP. We all earn money by ourselves, we want to live our lives like human, not slave, we want to secure our assets once the real estate bubble scams broken.

[Poolie]

25 minutes ago, TimAn said:

Most of chinese ppl are just normal like everyone from EU or North America. Most of them were bluffed by the Chinese agencies that Thai real estate is same as Chinese bubble real estate, as "you buy it, you can easily get 10% profit each year and easy to resell it all the time". Except some of rich businessman and corrupted government official who wants to transfer assets overseas. after all, the CN government takes the strictest rules for foreign currency rules which is 50,000 USD/ Year/Person.

Except if you apply for permission to take your cash abroad, which is usually granted. Or pack it in a suitcase. Or take ten friends  with you each carrying 49.999K. Or any amount of 'work arounds.'

[Cake121]

The Chinese honest? No. Non harmful? No. Friendly? No at all lol. The only probably the right point is hard-working. Yes. But this happens only when they can get a short term profit. 

Thailand shouldn't allow to the Chinese to own anything, cause it will be just a shot in their own foot for Thais.

Edited January 31, 2022 by Cake121

[DoUKnowWhoIAm]

So there's a big chance I'll get a Chinese neighbor...? Better rent.

[TimAn]

4 minutes ago, Poolie said:

Except if you apply for permission to take your cash abroad, which is usually granted. Or pack it in a suitcase. Or take ten friends  with you each carrying 49.999K. Or any amount of 'work arounds.'

Trust me my friend, you will be stopped and sent to police station during the security check by authority. Even worse part is that when you go to bank, the stuff will ask you the purpose of exchanging, and will tell you out of stock of foreign currency 

[Poolie]

3 minutes ago, Cake121 said:

The Chinese honest? No. Non harmful? No. Friendly? No at all lol. The only probably the right point is hard-working. Yes. But this happens only when they can get a short profit. 

Thailand shouldn't allow to the Chinese to own anything, cause it will be just a shot in their own foot for Thais.

Nice piece of Sinophobia there, excelled yourself. Well done. They're only 1/5th of the planet.

[Poolie]

1 minute ago, TimAn said:

Trust me my friend, you will be stopped and sent to police station during the security check by authority. Even worse part is that when you go to bank, the stuff will ask you the purpose of exchanging, and will tell you out of stock of foreign currency 

No I wont, and indeed haven't been in the past. None of the above applies.

Let me ask a simple question. How do they do it then?

[TimAn]

5 minutes ago, Poolie said:

No I wont, and indeed haven't been in the past. None of the above applies.

Let me ask a simple question. How do they do it then?

Underground banks and no worries, the chinese agency will provide everything for clients to solve the BT with different types of tricks and profit

Edited January 31, 2022 by TimAn

[Poolie]

1 minute ago, TimAn said:

Underground banks

Possibly. The Government don't know about these underground banks?

[Stonker]

1 hour ago, Artemis080 said:

The Vanuatu passport holders were all Chinese too probably. You can just buy citizenship by investment in 3 weeks. There is so much money in there right now waiting to be spent.

$130,000 for citizenship, and you can change your name as often as you like.

No need to ever actually go to Vanuata as an agent can do it all for you on line.

[TimAn]

3 minutes ago, Poolie said:

Possibly. The Government don't know about these underground banks?

Yes, then you see what happened now with the Telemarketing scams and Online Casinos in SE Asia. Cuz they realized all those highly related to the underground banks and Money Laundering.

[Poolie]

3 minutes ago, TimAn said:

Yes, then you see what happened now with the Telemarketing scams and Online Casinos in SE Asia. Cuz they realized all those highly related to the underground banks and Money Laundering.

Then surely they aren't the answer. 

[TimAn]

22 minutes ago, Cake121 said:

The Chinese honest? No. Non harmful? No. Friendly? No at all lol. The only probably the right point is hard-working. Yes. But this happens only when they can get a short term profit. 

Thailand shouldn't allow to the Chinese to own anything, cause it will be just a shot in their own foot for Thais.

How many chinese ppl have you ever met or talked or dealt with? Dare you say all chinese are as same as you think they are?

I don't know where you from. However let's suppose all ppl from your country are super honest, non-harmful, friendly. Then I guess there is no standpoint for your country to have prison or no prisoners in. Is that true for it? Answer it thanks.

Human is most complex specie on the earth. When I was child, my parents told me never judge ppl by single thing. I never say someone is bad or good, only something he/ she made is good or bad. 

[LandOfSmiles]

34 minutes ago, TimAn said:

Yes I am. Don't misunderstand what I said "everyone from Eu or North America". I was saying despite of the lower income than Western ppl, the 90% of them are honest, hardworking, non-harmful and friendly just manipulated by CCP. We all earn money by ourselves, we want to live our lives like human, not slave, we want to secure our assets once the real estate bubble scams broken.

Fair enough. You're a "waiguoren" in this country just like every other foreigner. But why are Chinese so quick to defend themselves and downplay their nationalistic tendencies? No, the majority of Chinese nationals do NOT think or act like Europeans or Americans at all. Also, outside of the motherland, your central government will not protect you. We do not care about the goals of the CPP or believe in the propaganda of the party line. That's the difference, I think.

[TimAn]

The major difference be

7 minutes ago, LandOfSmiles said:

Fair enough. You're a "waiguoren" in this country just like every other foreigner. But why are Chinese so quick to defend themselves and downplay their nationalistic tendencies? No, the majority of Chinese nationals do NOT think or act like Europeans or Americans at all. Also, outside of the motherland, your central government will not protect you. We do not care about the goals of the CPP or believe in the propaganda of the party line. That's the difference, I think.

From my point of view, the major difference between chinese and westerners is 'ideology'. It took shape during the student period. While there is Ideological and Political Course when we were just 6-year-old in primary school until graduation from university. Which I never heard its appearance in any other countries. more or less, all of us influenced by this course. 

[LandOfSmiles]

2 minutes ago, TimAn said:

The major difference be

From my point of view, the major difference between chinese and westerners is 'ideology'. It took shape during the student period. While there is Ideological and Political Course when we were just 6-year-old in primary school until graduation from university. Which I never heard its appearance in any other countries. more or less, all of us influenced by this course. 

Wow, that's insightful, thank you. I think it's called "civics" class in high school. Is that correct? I know university students are also forced to take classes on marxism, regardless of their major.

[TimAn]

4 minutes ago, LandOfSmiles said:

Wow, that's insightful, thank you. I think it's called "civics" class in high school. Is that correct? I know university students are also forced to take classes on marxism, regardless of their major.

It's called Ideological and moral lesson. Its main function is trained you as they want mentally. There are many courses during the 4 years in university. Maoism, Marxism, Deng Xiao Ping ideology, 3 representative of CCP，Scientific Outlook on Development. Furthermore, you have to take it if you want to pass the entrance exam in master-degree program, and, if you want to work in local authorities or state enterprises. So I guess it can explain a little confuse for you guys.

Luckily I did not take the toxic useless BT seriously because of my wise parents. I left China when I was 18 and studied in EU. For god's sake I can't imagine how I would become If I studied in CN University. 

[Noble_Design]

2 hours ago, Cake121 said:

Thailand shouldn't allow to the Chinese to own anything, cause it will be just a shot in their own foot for Thais.

I wonder who's the communist here, you or the CCP?

I don't see why the Chinese (or anyone for that matter) should be stopped from owning properties in Thailand. They didn't steal the properties, nor invade or annexed Thailand and make it their own.

They came with money to buy those real estates. It's just another business transaction, willing seller willing buyer. Besides Thailand already has property ownership laws to protect the local real estates from being completely bought up by foreigners.

If you don't want the Chinese to buy properties here, easy - if you have the money then you (or your fellow countrymen) can buy up all the properties in Thailand up to the limits allowed for foreigners. This way you can have Thailand all to yourself.