Chinese investors buying up real estate in Phuket
Chinese investors are rushing to buy real estate in Phuket, snapping up condos, villas, shophouses and even durian orchards, according to property consultant Knight Frank Thailand.
Nattha Kahapana, the consultant's managing director, said the Phuket property market is experiencing a surge in demand, fuelled by Chinese property investors and Russian buyers.
"Russians are buying real estate in Phuket to live. They intend to buy immediately as they want to start moving in right away," he said. "More Chinese investors are expected to come to buy 7-8 months after the flow of tourists."
While Russians are interested in buying pool villas, Chinese investors like every type of property, including condos, villas, shophouses and even durian orchards, said Mr Nattha. They want to rent out condos and villas to Chinese tourists, he said.
One investor also requested Knight Frank find a durian orchard to buy, planning to offer durian tours to Chinese tourists, he said.
Learn from listening
- consultant: a person who knows a lot about a particular subject and is employed to give advice about it to other people - ผู้ให้คำปรึกษา
- durian (n): a large tropical fruit with a strong unpleasant smell but a sweet flavour -
- fuelled: caused something to increase - กระตุ้น
- immediately (adv): happening right after something else with no delay; right away - ทันที
- investors (noun): people or organisations that invest money, i.e., use money with the aim of making a profit from it, for example by buying property or buying shares in a company - นักลงทุน
- orchard: an area of land where fruit trees are grown - สวนหรือแปลงผลไม้
- property: a building or buildings and the surrounding land - อสังหาริมทรัพย์
- real estate: property - อสังหาริมทรัพย์
- surge: a sudden increase in something - การเพิ่มขึ้นอย่างรวดเร็ว