Chinese buyers have returned to the Chon Buri property market, following the lead of Russians, after the reopening of China’s borders earlier this year.
Chanin Vanijwongse, chief executive of property developer Habitat Group, said demand for condos and villas in Chon Buri from Chinese and Russian buyers has been strong since the beginning of
the year.
“After the new year, property agents targeting Chinese and Russian buyers have returned as their buyers are coming back,” he said. “The most popular units are three-bedroom pool villas priced above 10 million baht.”
According to the Real Estate Information Center (REIC), the absorption rate of single detached houses priced 10-15 million baht was the highest in the fourth quarter of 2022 at 8.9%.
Chinese nationals accounted for the largest number of condo transfers each year over the past five years, with 1,207 units worth 3.5 billion baht in 2022, up from 998 units worth 2.1 billion baht in 2021.
The peak period was 2018 and 2019 comprising 2,099 units worth 5.1 billion baht and 2,029 units worth 5.3 billion baht, respectively.
However, the number plummeted to 737 units worth 1.9 billion baht in 2020.
In addition to Chinese, the top 10 nationalities included Russian, American, British, German, French, Australian, Japanese, Swiss and Canadian.
Source: Bangkok Post
