Malaysia emerged as the second most popular market in Southeast Asia for would-be buyers from China in the first half of this year, reported the Phuket News.
In fact, the ASEAN country received one of the highest numbers of inquiries from property hunters in China, according to the latest Chinese Global Property Investment Report by Juawai, a website that offers 2.5 million properties across 89 nations.
Overall, the research revealed that Chinese real estate investments in other countries last year exceeded US$100 billion for the first time, up 25.4 percent from approximately US$80 billion in 2015.
Meanwhile, the top country in the region was Thailand, with prospective Chinese buyers making 26 percent more inquiries in Q1 2017 than the prior year, said Juawai Operations Chief Sue Jong.
Last year, the country was the world’s sixth most popular country for Chinese property buying inquiries, but it climbed to the third spot in the first half of this year.
“Thailand is inexpensive and easy to reach, and Chinese buyers like the relatively inexpensive luxury of the city condominiums and resort properties available in Thailand,” she noted.
“Chinese property buyers in Thailand are focused on investment and lifestyle goals. They feel that in Thailand they can buy a nice home in an attractive location that they can rent out or will gain value over time.”
In particular, Jong shared that the top three property hotspots in the country for Juawai’s clients are Pattaya, Bangkok, and Phuket, where the Chinese wants to own a little bit of paradise.
Over at Thailand’s capital, the most sought-after places are Sathorn, Sukhumvit and Bang Na, she added.
Image sourced from The Phuket News
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email Editorial-MY@propertyguru.com.my
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