Bangkok Has 100,000 Empty Apartments and May Soon Have More
- Chinese buyers were key foreign purchasers of condominiums
- But travel curbs, economic slowdown are keeping them away
Photographer: Dario Pignatelli/Bloomberg
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Bangkok’s condominium market, once a favorite of Chinese investors, faces a bleak year as the novel coronavirus outbreak keeps buyers away.
Foreigners are set to account for as little as 10% of purchases in 2020, down from a fifth two years ago, consultancy Agency for Real Estate Affairs estimates. Chinese buyers used to provide the bulk of overseas interest but are now hampered by the travel curbs and economic havoc sparked by the disease.