Transcript of the above video:

As the title of this video suggests, we are discussing, “are the Chinese the main driver of Thailand's property market?” The reason I was thinking about this, was a recent article from the South China Morning Post, scmp.com. The South China morning post, it is my understanding up until last year had more of an independent sort of perspective then last year they are kind of more, I don't know what the right word is, aligned or in the perspective of mainland China than they have been in the past. That is just what I have read and heard, I don't know if that is the case but I thought of it when I was reading this article. Quite frankly, I find the South China Morning Post to be a really good publication. I always have done and really that hasn't changed but I have read some things and there is a kind of I don't know, it doesn't rise to the level of paranoia but there is kind of a, "Are China going to overrun certain aspects of Thailand?" Could that happen? In a sense I understand the concern. As a nationalized Thai, I kind of enjoy Thailand the way it is and I don't want it to be overrun but I don't think China is trying to overrun Thailand per se.

Now in terms of the property market, there are some interesting things to consider. Quoting directly from this article, again from the South China Morning Post, scmp.com, the article is titled: Reopening of Thailand's borders to International tourists might help developers dispose of unsold Bangkok flats, analysts say. One bullet point was: Chinese were 'the main driver' for Bangkok flats before COVID-19': Knight Frank executive; so a Knight Frank Executive is noting that. I urge folks to go check out that article directly and get all the information in there. Are they the main driver? I would say they are a substantial portion of the foreign investment in the Thai property market but remember, foreign investment in the Thai property market, the perspective on that is a little bit skewed because for example foreigners are not allowed to own land in Thailand first and condo ownership is restricted to a minority for foreign nationals. There is a foreign quota of condos in Thailand where for example if a condominium complex has 100 units in it, only 49 can go to foreigners and 51 have to remain titled to a Thai national to maintain compliance with the Thai Condominium Act. Just long story short, with those restrictions in place, I don't find it overly worrisome that the Chinese or any other nationality for that matter are going to come streaming in to Thailand and just buy up everything and we are all going to be strangers in our own country. I don't foresee that exactly happening.

Again I do think that Thai policy makers keep a good eye on this and it will be interesting to watch as things reopen especially if a "travel bubble" is created between Thailand and China if we start to see a resurgence of the Chinese tourism sector or I should say the Thai Tourism Sector which caters to Chinese Nationals as well as the Property Sector which is catering to purchasers from China in the condominium market.