Many Chinese are eager to invest in a residence overseas, keen for a safety net in case of a similar outbreak.
“I feel alive. I feel free,” said an excited Bian, in tinted sunglasses, flat-topped navy blue hat and a wraparound tunic cinched at the waist, his hair hanging loosely to his shoulders. “This is my dream.”
Thailand was the most popular outbound destination for Chinese travellers during the Labour Day holiday, data from website Trip.com showed, followed by Japan and South Korea. “There is definitely demand from China for properties in Thailand,” said Mesak Chunharakchot, the president of the Thai Real Estate Association.
Nearly 270,000 Chinese tourists visited Thailand in March, government data showed, a three-year high, though well below the figure of 985,227 in March 2019, before the pandemic took hold. Despite Thai rules that limit foreign ownership to just 49% of the units in any condominium development, prospective buyers are pouring in, bringing business to agents who target Chinese buyers.
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