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Thailand Housing Boosted by China and Japan

By on Jun 15, 2015 in Property News

Thailand housing has received a boost as China and Japan have returned to buying in Eastern Seaboard and Pattaya, according to Quality Houses President and CEO Chadchart Sittipunt. According to a survey by Quality Houses, the supply of housing units between 2012 and 2014 was worth Bt55.19 billion, while purchase demand was Bt40.55 billion, or about 73 per cent of supply. About 30 per cent of the buyers of homes in Chon Buri province were foreigners. Chadchart said that although demand from Russians had dropped as the ruble weakened, there were more buyers from China.

Condominium developments have also been built in the Pattaya city area. Global Top Group, Matrix Group and Riviera Pattaya Group are some of the well-known developers.  Between 2007 and 2010 approximately 2,200 condos were taken up per year. In 2011-2014 this increased to about 2,750 and then dropped dramatically.  Many developers are hoping the Chinese and Japanese buyers will improve the market.

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