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Increasing Chinese Demand For Condos In Bangkok

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How does Bangkok look and feel when dusk nears? You will only know by visiting rooftop bar Sukhumvit with an impeded view of the breathtaking sunset while million of lights are sparkling below. Views from a rooftop are very precious because you have the city literally at your feet while enjoying some wind on your hair.

Foreign demand for condominiums in Bangkok is quite high and buyers from mainland China are the top source for to demand even if there are controls in place over capital outflows. According to property services firm JLL, about 50% of foreign buyers of condos in Bangkok are Chinese expats working the city.

This is in line with the recent report from the firm “China 12: China’s Cities Go Global” which says that Bangkok is the 10th most popular destination of mainland China firms that are planning expansion overseas. The report also stated that Bangkok ranks third in terms of Chinese corporation’s leasing activity during the last 3 years.

Studies and 1-bedroom units in Ratchadaphisek and Rama9 areas that cost between 1.5 and 3 million baht are selling well to Chinese expats. These Chinese buyers do have any issues regarding restrictions in capital outflow because it is easy to get loans from international banks and local financial institutions. Home loans are offered to expats that have a valid work permit that states the length of employment contract in Thailand.

Other Chinese buyers invest in condos in Bangkok as a holiday home. Most of the buyers from mainland China have purchased condos priced at around 6 million baht in the Sukhumvit area; however, there is also a growing number of ultra-high net worth Chinese investors that have bough luxury and ultra-luxury condos in the city’s central business district as well as riverside areas. They are collectors of trophy assets that they can be proud of.

New hotels have also sprouted in Bangkok like the one with a rooftop bar Sukhumvit on the 26th floor. DJ is available every night except Tuesday where a live band plays from 7 pm until midnight. Here you can meet old and new friends as you enjoy the twinkling stars of the Bangkok sky.