By Angie Teo, Chayut Setboonsarng and Devjyot Ghoshal

BANGKOK (Reuters) – Shanghai resident Daniel Bian drank within the sweeping views over the Thai capital as he lay on a deckchair beside a swimming pool on the nineteenth ground of a luxurious condominium.

“I really feel alive. I be at liberty,” stated an excited Bian, dapper in tinted sun shades, flat-topped navy blue hat and a wraparound tunic cinched on the waist, his hair hanging loosely to his shoulders. “That is my dream.”

Cooped up in China for 3 years beneath among the world’s hardest curbs towards COVID-19, Bian is amongst a flood of mainland Chinese language attempting to find property buys within the southeast Asian nation since Beijing opened its borders this 12 months.

Many Chinese language are wanting to spend money on a residence abroad, eager for a security web in case of an identical illness outbreak, and likewise to hedge towards financial dangers at residence.

Thailand was the preferred outbound vacation spot for Chinese language vacationers throughout the Could labour day vacation, information from web site Journey.com confirmed, adopted by Japan and South Korea.

And the Southeast Asian nation’s good worldwide faculties and high quality medical services are drawing growing numbers eager to amass a second residence.

Thailand expects no less than 5 million Chinese language guests this 12 months, some set to purchase property, though the determine remains to be a far cry from the period earlier than COVID, once they made up almost a 3rd of the 40 million arrivals.

“There may be positively demand from China for properties in Thailand,” stated Mesak Chunharakchot, the president of the Thai Actual Property Affiliation.

Topping consumers’ lists are places in main cities such because the capital, Bangkok, together with Chiang Mai within the mountainous north, the east coast seashore resort of Pattaya and the northeastern area of Isan, he added.

“Chinese language are shopping for homes, sending their youngsters to worldwide faculties and having their dad and mom come keep in Thailand to deal with the grandkids.”

Almost 270,000 Chinese language vacationers visited Thailand in March, authorities information reveals, a three-year excessive, although effectively under the determine of 985,227 in March 2019, earlier than the pandemic took maintain.

The share of Chinese language college students at Singapore Worldwide Faculty Bangkok rose to 12% to 13% early this 12 months, or 400 from a pupil physique of three,100 on 4 campuses, outstripping the determine of 6% throughout pre-pandemic 2019.

“In China, when issues are closed – it is in a single day, no person can exit,” the varsity’s chief government, Kelvin Koh, informed Reuters. “This affected the behaviour of Chinese language households.”

Regardless of Thai guidelines that restrict overseas possession to simply 49% of the models in any condominium improvement, potential consumers are pouring in, bringing enterprise to actual property brokers who goal Chinese language consumers.

One such agent is Owen Zhu, who escorted Bian, 50, and his 70-year-old mom, trendy in close-fitting white costume topped off with matching hat and veil, via viewings of three high-end flats in Bangkok throughout a day-long property tour.

“It has modified loads after the pandemic. Many of the Chinese language select to purchase luxurious flats to dwell in,” stated Zhu.

Many purchasers who earlier purchased for funding functions have now zeroed in on property usually costing greater than 2 million yuan ($290,000), he added.

“The finances can solely purchase a easy residence in China’s first-tier cities, and its location won’t be good,” Zhu stated.

“However with that cash they will purchase a luxurious residence within the coronary heart of Bangkok. Due to this fact some would promote one of many homes in China and purchase a property right here for retirement.”

Bian, who organises cultural exchanges between China and different international locations, additionally sees fewer constraints in Thailand.

“The liberty to enter or depart the nation, to journey backwards and forwards. In addition to the liberty of society, and life. Freedom is essential,” Bian stated.

($1=6.9110 renminbi)