Chinese investors shine in Asian realty
Land and residential prices in Asean countries have been rising as investors from China expand their purchase of property in the region. For example, the price of land in Cambodia has been increasing by up to 20 per cent a year since 2017, with residential and commercial prices in the country boosted by over 10 per cent a year from 2017.
In Thailand, the number of Chinese buyers of condominiums jumped dramatically over the last two years, with some developers reporting that up to 50 per cent of their condominium sales were to foreigners, mainly Chinese purchasers. Developers are now reporting that they have sold out the 49 per cent foreign quota in some condominium buildings, a situation that has rarely happened in the past, according to the latest research by CBRE property agency firm.
Globally, China has been a major driver of investment flows into real estate. CBRE Research data shows that Chinese outbound investment in real estate rose from US$8 billion (Bt250 billion) in 2013 to just under $35 billion (Bt1.09 trillion) in 2017.