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Priced out from home market, Chinese swoop in to buy Thai real estate

Reuters Published on Thu, Aug 03, 2017 / 1:59 PM GMT+8

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(Aug 3): Mainland Chinese are snapping up more properties in Thailand for both personal and investment purposes, after being priced out of the market in big cities at home, developers in the Southeast Asian country said on Wednesday.

With its beaches, varied street food and ancient temples, Thailand has become a holiday favourite with Chinese visitors, who are expected to account for close to a third of an estimated record 35 million tourists this year.

Thai property developer Sansiri Pcl, which is opening three new offices in China this year to join its Beijing branch, said sales to Chinese buyers had risen steadily over the past three years.