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A Singaporean's guide to living in Thailand
- Thread starter Leongsam
- Start date
https://asia.nikkei.com/Business/Ma...1&pub_date=20210909193000&seq_num=23&si=44594
Chinese bet on properties in Thailand ahead of COVID recovery
Hotels and land in Phuket and Pattaya at discounted prices lure investors
The resort city of Pattaya. Chinese are betting on Thai properties ahead of recovery from the pandemic, while prices are low.
JASON TAN, Contributing writerSeptember 9, 2021 18:08 JST
BANGKOK -- Thailand's raging pandemic has failed to deter aspiring Chinese entrepreneurs from starting businesses, with some even plowing money into acquiring hotels, property and land amid record-low prices.
This comes as the Southeast Asian country battles its worst outbreak yet, which hit a high of over 23,000 infections per day in mid-August. Recent cases have hovered around 15,000 a day.
"The most trying times will teach us more lessons than usual. ... Starting up a business is a process to accumulate experience," said Nancy Chen, who along with her husband rented a hotel on the resort island of Phuket in July.
"We are starting small, and this hotel business will help us explore before stepping our foot into the tourism industry," said the southern Fujian native, who is in her 30s.
Thailand has a sizable population of about 200,000 Chinese residents, according to industry estimates. They study, retire, work or run businesses, mostly catering to their mainland peers.
In 2019, about 11 million Chinese visited Thailand, more than from any other country.
As the coronavirus continues to rampage across Southeast Asia, the tourism authority in Thailand estimated in June that total foreign arrivals would plunge to 3 million this year, down from its forecast of 4 million in April, when the latest and most severe outbreak began.
While fewer Chinese dollars means making their business stay afloat is a tremendous challenge, some entrepreneurs are not calling it quits just yet. They say now is the best time to enter the market for bargains and get ready for when Thailand regains its pre-pandemic tourism crown.
Health workers at Phuket's airport as the resort island prepared to reopen to overseas tourists in July. © Reuters
"This is a year not to rent or sell your property in Thailand, but one that is great to buy," said Li Ming, founder of realtor Ming Thai Inter in Bangkok. "Even if you make investments, don't expect to have immediate returns until at least 2022."
The 34-year-old, from Jiangxi Province, graduated from a Thai university in 2010. He stayed, married a Thai and set up a company to help Chinese buy and sell property locally.
Li and his wife have bagged a few bargains since late 2020: a 40% discounted landed property in the beach resort city of Pattaya, east of Bangkok; a 4 million baht ($123,200), 35-sq.-meter condo in the capital that fetched over 6 million baht only three years ago. He has just signed a deal to pocket a 10.5-rai (16,800-sq.-meter) plot of land in the Bangyai district of Nonthaburi Province -- half the selling price of adjacent land.
"I plan to develop the land into houses or factory warehouses. But it has to be done in a cautious manner because of the uncertainties amid COVID-19," he said.
In Thailand's post-pandemic recovery efforts, the authorities are considering dangling more perks, including a 10-year visa and letting high-net-worth foreign individuals buy land, which has long been prohibited. These rich people are each expected to invest at least half a million dollars in the country.
Phuket's Chen said that in pre-pandemic times, taking over the hotel would have cost her a nonrefundable transfer fee of 2 million baht.
"Now we struck a deal by signing a 10-year lease from the owner, paying a deposit of 500,000 baht and a fixed monthly rent of 60,000 baht for the first three years."
She said 18 rooms out of the 26 have now been rented out on a monthly basis, which covers her rent. She is upbeat that tourists will flock back to Phuket when international borders reopen in the future.
But not all are lucky.
Wendy He, who came to Thailand to teach Chinese in 2013, invested 1.5 million baht with her family to open a 300-sq.-meter Chinese restaurant, Kungfupot, in Chiang Mai's old town three years later.
The 30-year-old decided to shutter the shop this year after Chiang Mai, a top-three destination for Chinese visitors, had not brought her enough business to cover operational costs.
She still plans to stay on in the northern province and is in no rush to figure out the next step.
"I think the pandemic will not go away even next year," said the Yunnan native. "Those running a business here face greater challenges than ever. It's time for us to rethink our business strategies."
Chinese bet on properties in Thailand ahead of COVID recovery
Hotels and land in Phuket and Pattaya at discounted prices lure investors
The resort city of Pattaya. Chinese are betting on Thai properties ahead of recovery from the pandemic, while prices are low.
JASON TAN, Contributing writerSeptember 9, 2021 18:08 JST
BANGKOK -- Thailand's raging pandemic has failed to deter aspiring Chinese entrepreneurs from starting businesses, with some even plowing money into acquiring hotels, property and land amid record-low prices.
This comes as the Southeast Asian country battles its worst outbreak yet, which hit a high of over 23,000 infections per day in mid-August. Recent cases have hovered around 15,000 a day.
"The most trying times will teach us more lessons than usual. ... Starting up a business is a process to accumulate experience," said Nancy Chen, who along with her husband rented a hotel on the resort island of Phuket in July.
"We are starting small, and this hotel business will help us explore before stepping our foot into the tourism industry," said the southern Fujian native, who is in her 30s.
Thailand has a sizable population of about 200,000 Chinese residents, according to industry estimates. They study, retire, work or run businesses, mostly catering to their mainland peers.
In 2019, about 11 million Chinese visited Thailand, more than from any other country.
As the coronavirus continues to rampage across Southeast Asia, the tourism authority in Thailand estimated in June that total foreign arrivals would plunge to 3 million this year, down from its forecast of 4 million in April, when the latest and most severe outbreak began.
While fewer Chinese dollars means making their business stay afloat is a tremendous challenge, some entrepreneurs are not calling it quits just yet. They say now is the best time to enter the market for bargains and get ready for when Thailand regains its pre-pandemic tourism crown.
Health workers at Phuket's airport as the resort island prepared to reopen to overseas tourists in July. © Reuters
"This is a year not to rent or sell your property in Thailand, but one that is great to buy," said Li Ming, founder of realtor Ming Thai Inter in Bangkok. "Even if you make investments, don't expect to have immediate returns until at least 2022."
The 34-year-old, from Jiangxi Province, graduated from a Thai university in 2010. He stayed, married a Thai and set up a company to help Chinese buy and sell property locally.
Li and his wife have bagged a few bargains since late 2020: a 40% discounted landed property in the beach resort city of Pattaya, east of Bangkok; a 4 million baht ($123,200), 35-sq.-meter condo in the capital that fetched over 6 million baht only three years ago. He has just signed a deal to pocket a 10.5-rai (16,800-sq.-meter) plot of land in the Bangyai district of Nonthaburi Province -- half the selling price of adjacent land.
"I plan to develop the land into houses or factory warehouses. But it has to be done in a cautious manner because of the uncertainties amid COVID-19," he said.
In Thailand's post-pandemic recovery efforts, the authorities are considering dangling more perks, including a 10-year visa and letting high-net-worth foreign individuals buy land, which has long been prohibited. These rich people are each expected to invest at least half a million dollars in the country.
Phuket's Chen said that in pre-pandemic times, taking over the hotel would have cost her a nonrefundable transfer fee of 2 million baht.
"Now we struck a deal by signing a 10-year lease from the owner, paying a deposit of 500,000 baht and a fixed monthly rent of 60,000 baht for the first three years."
She said 18 rooms out of the 26 have now been rented out on a monthly basis, which covers her rent. She is upbeat that tourists will flock back to Phuket when international borders reopen in the future.
But not all are lucky.
Wendy He, who came to Thailand to teach Chinese in 2013, invested 1.5 million baht with her family to open a 300-sq.-meter Chinese restaurant, Kungfupot, in Chiang Mai's old town three years later.
The 30-year-old decided to shutter the shop this year after Chiang Mai, a top-three destination for Chinese visitors, had not brought her enough business to cover operational costs.
She still plans to stay on in the northern province and is in no rush to figure out the next step.
"I think the pandemic will not go away even next year," said the Yunnan native. "Those running a business here face greater challenges than ever. It's time for us to rethink our business strategies."
https://asia.nikkei.com/Business/Ma...1&pub_date=20210909193000&seq_num=23&si=44594
Chinese bet on properties in Thailand ahead of COVID recovery
Hotels and land in Phuket and Pattaya at discounted prices lure investors
The resort city of Pattaya. Chinese are betting on Thai properties ahead of recovery from the pandemic, while prices are low.
JASON TAN, Contributing writerSeptember 9, 2021 18:08 JST
BANGKOK -- Thailand's raging pandemic has failed to deter aspiring Chinese entrepreneurs from starting businesses, with some even plowing money into acquiring hotels, property and land amid record-low prices.
This comes as the Southeast Asian country battles its worst outbreak yet, which hit a high of over 23,000 infections per day in mid-August. Recent cases have hovered around 15,000 a day.
"The most trying times will teach us more lessons than usual. ... Starting up a business is a process to accumulate experience," said Nancy Chen, who along with her husband rented a hotel on the resort island of Phuket in July.
"We are starting small, and this hotel business will help us explore before stepping our foot into the tourism industry," said the southern Fujian native, who is in her 30s.
Thailand has a sizable population of about 200,000 Chinese residents, according to industry estimates. They study, retire, work or run businesses, mostly catering to their mainland peers.
In 2019, about 11 million Chinese visited Thailand, more than from any other country.
As the coronavirus continues to rampage across Southeast Asia, the tourism authority in Thailand estimated in June that total foreign arrivals would plunge to 3 million this year, down from its forecast of 4 million in April, when the latest and most severe outbreak began.
While fewer Chinese dollars means making their business stay afloat is a tremendous challenge, some entrepreneurs are not calling it quits just yet. They say now is the best time to enter the market for bargains and get ready for when Thailand regains its pre-pandemic tourism crown.
Health workers at Phuket's airport as the resort island prepared to reopen to overseas tourists in July. © Reuters
"This is a year not to rent or sell your property in Thailand, but one that is great to buy," said Li Ming, founder of realtor Ming Thai Inter in Bangkok. "Even if you make investments, don't expect to have immediate returns until at least 2022."
The 34-year-old, from Jiangxi Province, graduated from a Thai university in 2010. He stayed, married a Thai and set up a company to help Chinese buy and sell property locally.
Li and his wife have bagged a few bargains since late 2020: a 40% discounted landed property in the beach resort city of Pattaya, east of Bangkok; a 4 million baht ($123,200), 35-sq.-meter condo in the capital that fetched over 6 million baht only three years ago. He has just signed a deal to pocket a 10.5-rai (16,800-sq.-meter) plot of land in the Bangyai district of Nonthaburi Province -- half the selling price of adjacent land.
"I plan to develop the land into houses or factory warehouses. But it has to be done in a cautious manner because of the uncertainties amid COVID-19," he said.
In Thailand's post-pandemic recovery efforts, the authorities are considering dangling more perks, including a 10-year visa and letting high-net-worth foreign individuals buy land, which has long been prohibited. These rich people are each expected to invest at least half a million dollars in the country.
Phuket's Chen said that in pre-pandemic times, taking over the hotel would have cost her a nonrefundable transfer fee of 2 million baht.
"Now we struck a deal by signing a 10-year lease from the owner, paying a deposit of 500,000 baht and a fixed monthly rent of 60,000 baht for the first three years."
She said 18 rooms out of the 26 have now been rented out on a monthly basis, which covers her rent. She is upbeat that tourists will flock back to Phuket when international borders reopen in the future.
But not all are lucky.
Wendy He, who came to Thailand to teach Chinese in 2013, invested 1.5 million baht with her family to open a 300-sq.-meter Chinese restaurant, Kungfupot, in Chiang Mai's old town three years later.
The 30-year-old decided to shutter the shop this year after Chiang Mai, a top-three destination for Chinese visitors, had not brought her enough business to cover operational costs.
She still plans to stay on in the northern province and is in no rush to figure out the next step.
"I think the pandemic will not go away even next year," said the Yunnan native. "Those running a business here face greater challenges than ever. It's time for us to rethink our business strategies."
I bought 3 residential sections in Vietnam over the Covid period. I hope I don't lose my pants.
https://www.ft.com/__origami/servic...631232572AP_21245660785205.jpg?source=nar-cms
Thai tourism reopening hits roadblock due to slow vaccine rollout
October or November? Government sends mixed messages on resuming travel to Bangkok
The southern Thai resort island of Phuket welcomed 29,654 vaccinated travelers with no quarantine over a period of 10 weeks after reopening on July 1. © Reuters
MASAYUKI YUDA, Nikkei staff writerSeptember 10, 2021 13:10 JST
BANGKOK -- The pace of Thailand's tourism reopening will slacken as the government reworks its plans due to the country's slow vaccine rollout.
The delay will allow Southeast Asia's second-largest economy to better prepare for welcoming tourists, but will also reduce the tourism industry's opportunities to secure fast cash.
"International tourists are expected to enter without quarantine from January, led by travel bubbles with surrounding countries starting on Jan. 15," said Tourism and Sports Minister Phiphat Ratchakitprakarn.
The time frame given by the minister suggests a delay of over a month in the country's reopening schedule. In June, Prime Minister Prayuth Chan-ocha launched a 120-day plan to start allowing vaccinated foreigners to roam freely around Thai soil without any quarantine requirements. The four-month period will expire in mid-October.
The reopening of Bangkok appears to be wavering. Phiphat has said that the reopening of the capital to vaccinated travelers will be postponed from October to November, as not enough residents will be fully vaccinated until the end of next month. "The plan for Bangkok is more challenging, as it has extended territory covering vicinities that require more elaborate standard operation procedures," he said.
However, Prime Minister's Office Secretary-General Thanakorn Wangboonkongchana posted on Facebook on Thursday that the capital is still among the five provinces that are set to reopen in October. The other four are Chiang Mai, Chonburi, Petchaburi and Prachuap Khiri Khan.
Bangkok's reopening is a key step toward nationwide reopening, as it will provide data on visitors' activities and spending that is vital in judging how safe and economically effective it will be for the country to fully welcome tourists.
Thailand's government partially lifted its lockdown on Sept. 1, reopening malls and beauty parlors as well as allowing dine-in services and resuming interprovincial travel. © AP
The delayed national reopening will give Thais more time to adapt to the country's new normal. From September, the government has lifted business lockdowns that were imposed to contain the delta-strain outbreaks in certain provinces, including Bangkok.
The easing of restrictions came not because the epidemic has been curbed -- the country reported 16,031 new cases on Thursday, jumping from 14,176 the previous day. Instead, it reflects the country's shift in its COVID-19 policies. Instead of eradicating the virus completely, the government now aims to coexist with it.
From October, residents in provinces with high epidemic levels who want to use high-risk facilities such as restaurants, hair salons and spas will be asked to provide a certificate of full vaccination or a negative antigen test result.
These new-normal measures have prompted Thais who were hesitant over vaccination to finally get a shot. Many had been skeptical of the efficacy and safety of the Sinovac and AstraZeneca vaccines, the main sources of inoculation for the kingdom. With supply meeting demand, the proportion of fully vaccinated people jumped to 15% by Sept. 7 from 10.3% on Aug. 27, the day the lockdown easing was announced.
The easing is part of the government's efforts to revive tourist attractions before welcoming tourists. Some restaurants have gone out of businesses due to measures that prevented people from dining in, and many others barely survived.
The removal of restrictions and subsequent reopening will provide breathing space for businesses to work out operations that are safe and economically sustainable under the new normal ahead of the arrival of tourists from abroad.
The July 1 reopening of the southern island of Phuket provides a success story -- and a cautionary tale. Between July 1 and Sept. 8, the resort island welcomed 29,654 vaccinated international travelers with no quarantine period, up from virtually zero in 2020 due to coronavirus-induced border closures.
But this "sandbox experiment" is in danger as delta-strain outbreaks penetrate the island. Phuket Province reported 219 cases on Wednesday. "That the number of infections is more than 200 a day is a crisis situation," said Phuket Gov. Narong Woonciew. Cases surged despite the fact that 70% of the island residents were fully inoculated ahead of the reopening.
When the early reopening program was launched, the government had prepared contingencies to delay or cancel the experiment if authorities found 90 confirmed new cases per week, transmission across three districts and six subdistricts, or a spate of untraceable superspreaders. A halt would also be triggered if an uncontrollable superspreader situation resulted in 80% or more of the island's hospital beds being occupied. However, having a level of over 200 daily cases had not yet stopped the experiment as of Thursday.
"The Phuket sandbox is a pilot program and a pivotal first step that lays the foundation for the rest of the country," hospitality giant Minor International's chairman, William Heinecke, told local media. "The failure of the sandbox would be a stain on Thailand's global image. Therefore, we must go above and beyond to safeguard the program and ensure its success," he insisted.
Thai tourism reopening hits roadblock due to slow vaccine rollout
October or November? Government sends mixed messages on resuming travel to Bangkok
The southern Thai resort island of Phuket welcomed 29,654 vaccinated travelers with no quarantine over a period of 10 weeks after reopening on July 1. © Reuters
MASAYUKI YUDA, Nikkei staff writerSeptember 10, 2021 13:10 JST
BANGKOK -- The pace of Thailand's tourism reopening will slacken as the government reworks its plans due to the country's slow vaccine rollout.
The delay will allow Southeast Asia's second-largest economy to better prepare for welcoming tourists, but will also reduce the tourism industry's opportunities to secure fast cash.
"International tourists are expected to enter without quarantine from January, led by travel bubbles with surrounding countries starting on Jan. 15," said Tourism and Sports Minister Phiphat Ratchakitprakarn.
The time frame given by the minister suggests a delay of over a month in the country's reopening schedule. In June, Prime Minister Prayuth Chan-ocha launched a 120-day plan to start allowing vaccinated foreigners to roam freely around Thai soil without any quarantine requirements. The four-month period will expire in mid-October.
The reopening of Bangkok appears to be wavering. Phiphat has said that the reopening of the capital to vaccinated travelers will be postponed from October to November, as not enough residents will be fully vaccinated until the end of next month. "The plan for Bangkok is more challenging, as it has extended territory covering vicinities that require more elaborate standard operation procedures," he said.
However, Prime Minister's Office Secretary-General Thanakorn Wangboonkongchana posted on Facebook on Thursday that the capital is still among the five provinces that are set to reopen in October. The other four are Chiang Mai, Chonburi, Petchaburi and Prachuap Khiri Khan.
Bangkok's reopening is a key step toward nationwide reopening, as it will provide data on visitors' activities and spending that is vital in judging how safe and economically effective it will be for the country to fully welcome tourists.
Thailand's government partially lifted its lockdown on Sept. 1, reopening malls and beauty parlors as well as allowing dine-in services and resuming interprovincial travel. © AP
The delayed national reopening will give Thais more time to adapt to the country's new normal. From September, the government has lifted business lockdowns that were imposed to contain the delta-strain outbreaks in certain provinces, including Bangkok.
The easing of restrictions came not because the epidemic has been curbed -- the country reported 16,031 new cases on Thursday, jumping from 14,176 the previous day. Instead, it reflects the country's shift in its COVID-19 policies. Instead of eradicating the virus completely, the government now aims to coexist with it.
From October, residents in provinces with high epidemic levels who want to use high-risk facilities such as restaurants, hair salons and spas will be asked to provide a certificate of full vaccination or a negative antigen test result.
These new-normal measures have prompted Thais who were hesitant over vaccination to finally get a shot. Many had been skeptical of the efficacy and safety of the Sinovac and AstraZeneca vaccines, the main sources of inoculation for the kingdom. With supply meeting demand, the proportion of fully vaccinated people jumped to 15% by Sept. 7 from 10.3% on Aug. 27, the day the lockdown easing was announced.
The easing is part of the government's efforts to revive tourist attractions before welcoming tourists. Some restaurants have gone out of businesses due to measures that prevented people from dining in, and many others barely survived.
The removal of restrictions and subsequent reopening will provide breathing space for businesses to work out operations that are safe and economically sustainable under the new normal ahead of the arrival of tourists from abroad.
The July 1 reopening of the southern island of Phuket provides a success story -- and a cautionary tale. Between July 1 and Sept. 8, the resort island welcomed 29,654 vaccinated international travelers with no quarantine period, up from virtually zero in 2020 due to coronavirus-induced border closures.
But this "sandbox experiment" is in danger as delta-strain outbreaks penetrate the island. Phuket Province reported 219 cases on Wednesday. "That the number of infections is more than 200 a day is a crisis situation," said Phuket Gov. Narong Woonciew. Cases surged despite the fact that 70% of the island residents were fully inoculated ahead of the reopening.
When the early reopening program was launched, the government had prepared contingencies to delay or cancel the experiment if authorities found 90 confirmed new cases per week, transmission across three districts and six subdistricts, or a spate of untraceable superspreaders. A halt would also be triggered if an uncontrollable superspreader situation resulted in 80% or more of the island's hospital beds being occupied. However, having a level of over 200 daily cases had not yet stopped the experiment as of Thursday.
"The Phuket sandbox is a pilot program and a pivotal first step that lays the foundation for the rest of the country," hospitality giant Minor International's chairman, William Heinecke, told local media. "The failure of the sandbox would be a stain on Thailand's global image. Therefore, we must go above and beyond to safeguard the program and ensure its success," he insisted.
https://asia.nikkei.com/Business/Ma...1&pub_date=20210909193000&seq_num=23&si=44594
Chinese bet on properties in Thailand ahead of COVID recovery
Hotels and land in Phuket and Pattaya at discounted prices lure investors
The resort city of Pattaya. Chinese are betting on Thai properties ahead of recovery from the pandemic, while prices are low.
JASON TAN, Contributing writerSeptember 9, 2021 18:08 JST
Many Chinese youtuber in Thailand are helping to sell properties to Mainland Chinese investors..
As a Singaporean I am a real sucker for Lor Mee, yesterday morning woke up spent 4 hours just to make a bowl of this noodle ended up almost lunch time instead of having it for breakfast, time spend mainly on those accompanying side dishes.condiments.
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