Property boom in Pattaya is awaiting the return of the Chinese

Recently published research by Thailand’s Real Estate Information Center strongly suggests that the ongoing condominium building craze in Bangkok and Pattaya is preparing for heavy Chinese investment once the pandemic subsides. REIC executive director Dr Vichai Viratkapan said that condominium sales had slumped because of Covid-19 travel restrictions, but that legal and immigration changes needed to be made now for the future comeback.

The REIC, which specializes in property valuation, research and seminars, claims that Chinese nationals own 52 percent of the one-and-a-half million condominium units in Thailand that have been bought by foreigners. All other countries (for example Russia and UK) in the top-ten list come in at under six percent. Presumably the research is based on returns from…