News Forum - Russian, Chinese investors drive Phuket property market

[Thaiger]

The Phuket property market is on fire now, with the help of Chinese and Russian investors. Chinese buyers are reportedly increasing their investments, buying up villas, shophouses, and even orchards, to cater to Chinese tourists. Russian property investors are also contributing to the surge in demand for villas and homes in Phuket. While Russians are …

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[Ramanathan.P]

It is good for Thailand's ailing property market. As long as there is money coming into the country, then it is good for the local economy. May be Thai government should consider moving out the locals from those areas and build more high end properties for foreign investors to come in. 

[Vigo]

The Russians will find out what western 2nd home purchasers discovered years ago and they will be just another group in a long line of  regrets. As for the Chinese, they'll find out soon enough when the Thais won't want to work for them and they can't import cheap labour. 

I am however surprised that the Chinese are allowed to purchase orchards since  agriculture is supposedly protected  for Thai ownership only.

So much for the big dreams of  quality  older western  retirees and upscale westerners. Once Phuket becomes a ghetto of Chinese, Russians and western white trash, that will be the end of it. Reminds me of the slow degradation of inner cities back in the day. They called it white flight. Detroit, Birmingham many of the Paris arrondissements have never recovered.

[Grumpish]

21 minutes ago, Vigo said:

The Russians will find out what western 2nd home purchasers discovered years ago and they will be just another group in a long line of  regrets. As for the Chinese, they'll find out soon enough when the Thais won't want to work for them and they can't import cheap labour. 

I am however surprised that the Chinese are allowed to purchase orchards since  agriculture is supposedly protected  for Thai ownership only.

So much for the big dreams of  quality  older western  retirees and upscale westerners. Once Phuket becomes a ghetto of Chinese, Russians and western white trash, that will be the end of it. Reminds me of the slow degradation of inner cities back in the day. They called it white flight. Detroit, Birmingham many of the Paris arrondissements have never recovered.

First time I visited Phuket was thirty years ago - it is already a ghetto compared to what it was then. This will be the final nail in its coffin. 

[MrStretch]

1 hour ago, Vigo said:

The Russians will find out what western 2nd home purchasers discovered years ago and they will be just another group in a long line of  regrets. As for the Chinese, they'll find out soon enough when the Thais won't want to work for them and they can't import cheap labour. 

I am however surprised that the Chinese are allowed to purchase orchards since  agriculture is supposedly protected  for Thai ownership only.

I also wonder how they are able to purchase any land.  We keep hearing stories of Russians buying pool villas and Chinese purchasing houses.  Something smells suspiciously like fish.

[HiuMak]

1 hour ago, Vigo said:

I am however surprised that the Chinese are allowed to purchase orchards since  agriculture is supposedly protected  for Thai ownership only.

They buy land everywhere. In Australia, the Chinese buys vasts pieces of land from the farmers and in return rent it back to them for farm.

[HiuMak]

2 hours ago, Thaiger said:

The Phuket property market is on fire now, with the help of Chinese and Russian investors. Chinese buyers are reportedly increasing their investments, buying up villas, shophouses, and even orchards, to cater to Chinese tourists. Russian property investors are also contributing to the surge in demand for villas and homes in Phuket. While Russians are …

The story Russian, Chinese investors drive Phuket property market as seen on Thaiger News.

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Two of the most undesirable nationalities in the world? 

[MrStretch]

Just now, HiuMak said:

They buy land everywhere. In Australia, the Chinese buys vasts pieces of land from the farmers and in return rent it back to them for farm.

But land ownership by foreigners is prohibited in Thailand.  Ask any of us that have a house sitting on land, and not a condo.

[HiuMak]

24 minutes ago, MrStretch said:

But land ownership by foreigners is prohibited in Thailand.  Ask any of us that have a house sitting on land, and not a condo.

True, but i still see a lot of Chinese owning landed property/houses in Thailand.

Some even own boutique hotels, etc. Puzzling.

[Aussieroaming]

I guess that the Chinese have tired of negative capital growth and poor rental returns on their Bangkok Condo investments. 

[Marc26]

5 hours ago, HiuMak said:

Two of the most undesirable nationalities in the world? 

Most business owners I know in Phuket say the Russians are some of their best customers, most polite, mostly family oriented......

[HiuMak]

11 hours ago, Marc26 said:

Most business owners I know in Phuket say the Russians are some of their best customers, most polite, mostly family oriented......

Family oriented perhaps but definitely not the most polite. Guess you have not been or worked with Russians.

https://www.forbes.com/sites/andrewbender/2012/04/03/the-worlds-rudest-nations-for-travelers/?sh=474641252368