Thai developers target customers in mainland China, as demand plateaus in Hong Kong
Companies set ambitious sales targets on rising demand from customers in mainland China for retirement and holiday homes
Home developers from Thailand are eyeing customers in mainland China to prop up sales as home demand has stagnated in other major overseas markets like Hong Kong.
Sansiri Public, one of the three largest real estate developers in Thailand, has inked a partnership with Fang, China’s largest property information listing service, to attract more investors from the mainland. Like Sansiri, other developers are also following suit.
Hong Kong has been the largest overseas market for Sansiri, accounting for 45 per cent of its customers. Singapore was second with a 25 per cent share, while mainland customers accounted for 20 per cent.
Last year the company sold 84 million yuan worth of property to Chinese investors, a three-fold increase over the numbers in 2014.