The property market in Thailand has become heavily driven by Chinese investors, especially the condominium market in Bangkok. A couple years ago, the Chinese government toughened conditions on property investment which pushed investors to look at other markets. The weakened yuan made the Thai market to be considered reasonably priced.
Additionally, the ability to buy freehold property and the lower taxes and fees are factors that attracted Chinese investors to Thailand.
The geographical proximity to Thailand, well developed infrastructure and its culture is also what appeals to Chinese investors. Great amenities such as swimming pools, gyms and saunas are available as well.
The current wave of investment by Chinese investors into Thailand is largely targeting the rental market, with prices mainly falling in the low to mid-range bracket, reflecting the enthusiasm of middle income Chinese for alternative forms of investment. It is no coincidence that the places into which Chinese property buyers are pouring their money are also the most popular with tourists, namely Bangkok, Chiang Mai, Pattaya and Phuket, as properties in these areas are easier to rent out.