In Thailand, where 90 per cent of real estate buyers are from China, Hong Kong and Singapore, the real estate market is struggling in the face of COVID-19, reports Pearson News Press (21 August 2020). The real estate market contributes six per cent of Thailand's GDP and is heavily linked to the tourism sector. Since the Corovirus pandemic started, arrivals have drop by 76.4 per cent - with visitors from China down by 94 per cent. Real estate developers will face tough challenges ahead but there is some cause for optimism. However, Thailand still remains an attractive proposition for prospective buyers from China who are turning away from buying property in Europe and the US and seeking to invest closer to home."Chinese investors want to choose markets that are closer to home, require less capital and offer better yields," explained Georg Chmiel, executive chairman of overseas property purchasing website Juwai.com. "The Asia Pacific region, and especially Southeast Asia, ticks all three boxes."
