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Hongkongers keep faith in the Land of Smiles

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Political uncertainty, the chaotic opening of Bangkok's new airport and violence in the south of the country have failed to soften demand from Hong Kong investors looking to enter Thailand's property market.

The military coup and the subsequent military-installed government have also resulted in changes to foreign ownership laws in Thailand, creating an atmosphere where local businessmen say the rules are changing from day to day for international investors and companies.

The Thai baht is at a nine-year high, adding to the reluctance of some international investors to enter Thailand.

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But the political landscape that has created an air of hesitation in some quarters does not seem to discourage Hong Kong investors from entering the property market.

This is especially the case for the condominium sector, where it seems that regulations allowing for 100 per cent foreign ownership of these developments is unlikely to change.

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Leading property developers say savvy Hong Kong buyers have always held long-term views about property investments in Thailand, and believe the situation now will rectify itself in time.

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