Chinese eye Thai properties to hedge against economic issues at home
- The Southeast Asian country has seen a surge in popularity among Chinese investors since China started relaxing its zero-Covid policy late last year
- Chinese citizens seen trying to ‘diversify risk’ and spread their wealth into countries such as Indonesia where are they less likely to get caught in geopolitical crossfire
Guo Haojie had grown tired of China’s “high-pressure” lifestyle and reliance on personal connections to get things done. The native of Henan province had scoped out Thailand as a tourist years ago and went back in 2020 to invest, buying two condominiums.
And just like that, the 37-year-old IT consultant became part of a growing trend.
Chinese from the middle class upward are sending some of their money – and even themselves – to Thailand, particularly as China has been reopening following three difficult years under zero-Covid. Many are hoping to hedge against economic pressures at home, while building their future in an inexpensive Southeast Asian country with growth prospects.
And some investors are finding that, all things considered, Thailand is not too different from China, geographically or culturally.
The Southeast Asian country saw a surge in popularity among Chinese investors as zero-Covid began relaxing in late 2022 and they were again able to easily travel abroad to invest.
Guo, her husband and their five-year-old son moved to Bangkok in the first year of the pandemic, after launching their investments in August 2020. They live in one of the condos.