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Chinese investment sets new records in property purchases

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Chinese investment sets new records in property purchases | The Thaiger
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The demand for property, especially in Bangkok, continues unabated. Despite a drop off in absolute tourism numbers, enquiries from Chinese real estate buyers remains strong, setting new records. Not only are the Chinese the most frequent tourists to Thailand, they are the most enthusiastic property buyers, stetting a new record for Q3 this year.

Number two in foreign investors into Thailand’s property market is Hong Kong citizens.

According to juwai.com, buyer enquiries from mainland Chinese buyers more than doubled, year-on-year and was nearly 30% higher that the previous quarter, Q2.

Juwai.com’s CEO Carrie Law says the enquiries for Thai property has never been so high.

“In part, the strong results are due to an unusual surge of inquiries in August. The overall effect has been to push inquiries in the third quarter more than twice as high as in the same quarter one year earlier.”

The success follows on from continued support from Chinese tourists, even during the Golden Week holiday. Despite lower figures than expected this year, the numbers still exceeded the 2017 visitation.

“Thailand ranks highly because of its many attractions, good links to China, relative affordability, and appeal to both group and individual travelers,” according to Carrie.

Another favorite China tourist destination, Japan, suffered a drop in number over the same Q3 period due Typhoon Trami and another earlier storm which cancelled many flights into the country.

The fallout from the Phuket boat tragedy in July seems to have affected Phuket’s tourist numbers primarily although the TAT has recently reported drop offs in Chinese visitation to Chiang Mai up to 50% in some sectors over the past month.

According to konradlega.com, the Chinese government continue to support investment in countries, like Thailand, participate in the “Belt and Road Initiative.” This type of investment is in line with China’s strategy of increasing the count of new infrastructures in its neighboring countries while encouraging cross-border trade activities in the same region.

“Though at present, only 9% of Chinese citizens have passports, it is expected that the figure will double in 2020 to 240 million people, all potential travellers and investors.”

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Air Pollution

Bangkok’s air quality is ‘unhealthy’ today | VIDEO

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Bangkok’s air quality is ‘unhealthy’ today | VIDEO | The Thaiger

Air quality around Bangkok this morning is awful. Partly due to the lack of wind to blow the smog out of the area. To the south of Bangkok, Samut Prakan and Samut Sakhon, the air quality is even worse with visibility on the ground cut to less than a kilometre. You would be well advised to reduce you activities outside on a day of high air pollution in the capital. The rating by airvisual.com is ‘unhealthy’.

Bangkok's air quality is 'unhealthy' today | VIDEO | News by The Thaiger

Readings around the inner city vary between 190 – 220. Areas to the east, including around Suvarnabhumi Airport, are higher.

A lot of the smog and smoke is flowing down from the north and north east where plantation fires rage, mostly unenforced, this time of the year, from December to May. Farmers have been told, repeatedly, to avoid buying off the waste after harvests of corn, rice and sugar cane but officials have been disinclined to enforce the laws. Many of the farmers have long-term contracts with some of Thailand’s leading agri-business conglomerates.

Bangkok and the central region can expect many more months, especially as the temperatures rise throughout February, March and April and the winds remain low as the north-easterly monsoon weakens.

Bangkok's air quality is 'unhealthy' today | VIDEO | News by The Thaiger

PHOTO: View across the Bangkok skyline from Sathorn this morning.

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Coronavirus (Covid-19)

40 arrested in a suspected gambling house in Nonthaburi

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40 arrested in a suspected gambling house in Nonthaburi | The Thaiger
PHOTO: Nation Thailand

Last night, police raided a house in Nonthaburi and arrested 40 people for allegedly gambling.

According to the deputy chief of the Central Investigation Bureau, 33 are Thais and 7 are migrant workers of the casino. The officials also confiscated decks of cards of the Dragon-Tiger game, plastic chips and some cash as evidence.

During the raid, the migrant workers allegedly revealed that the gambling operations at the home had only been going on for 2 days and that the owner planned to move it to other locations.

Police have been cracking down on gambling after the Covid-19 outbreak at a Rayong gambling den in line with the PM’s order made last week to shut down the illegal venues and tracking down “influential figures.”

SOURCE: National Thailand

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Thailand

Former finance minister proposes legalisation of gambling

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Former finance minister proposes legalisation of gambling | The Thaiger
PHOTO: Thai Tabloid

With Covid-19 cases linked to some illegal gambling dens, causing a headache for health officials trying to track down elusive gamblers to contain the virus, the former Finance Minister floated the idea to legalise gambling.

The former Finance Minister and current leader of the Kla Party, Korn Chaitkavanich, claims legalising gambling will help contain the spread of Covid-19. He also hinted that it will gain more tax revenue. If it’s legalised, gamblers will spend their money in legal casinos that pay taxes, drawing in more money the government can use for public improvements, he says.

The Royal Thai Police spokesperson insists police are pursuing legal action against owners of the illegal gambling dens. Interior Minister Anuphong Paojinda has also told provincial governors to suppress illegal gambling dens and take responsibility if more gambling dens are found.

SOURCE: Bangkok Post

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