The postponement of new launches and discounts on unsold units has contributed to a decline of Chinese buyers for Thai condominiums, reported South China Morning Post (24 March 2020). The significant fall of demand can be attributed to travel restrictions imposed by Beijing since the coronavirus outbreak began, as well as a slowdown in economic activity following the lockdown of several Chinese cities. However, Georg Chmiel, the executive chairman of property portal Juwai IQI, said Chinese buyers are still very active online and still have great demand for Thai property. "We expect a surge in transactions later in the year, after the coronavirus outbreak settles down. Buyers who were held back by travel restrictions and other coronavirus-related challenges will finally make their purchases, and it will feel like they are all doing so at once. Over the longer time frame, Thailand should remain a popular destination for Chinese buyers most likely one of the top two destinations in the world by number of enquiries in 2021 and 2022," said Chmiel.
