Thai condo market gains amid big influx of Chinese students


Condominiums are the most popular housing option, as many Chinese students come from families with reasonable financial stability. — Bloomberg

BANGKOK: The influx of Chinese investors into Thailand has significantly increased the number of their children studying across various educational levels, including international schools and universities.

This trend has also fuelled a rise in real estate purchases, stimulating economic activity within the country.

A survey by Cushman & Wakefield Thailand reveals that Chinese students in 20 Thai public and private universities account for 77% of the 28,052 Chinese students in the country.

Krirk University has the largest Chinese student population, with 17% of its students coming from China, far surpassing other universities.

Most of these universities are located in Bangkok and nearby areas, while other provinces, especially those near the Thai border such as Chiang Mai University and Mahasarakham University, also attract Chinese students.

Alongside investments in various businesses, Chinese investors have shown growing interest in the education sector.

Between 2017 and 2018, three universities – Krirk University, Shinawatra University, and Stamford International University – were taken over by Chinese investors, leading to an expected increase in the number of Chinese students.

A VERY LOW BLOW

Krirk University now has 4,670 Chinese students, making up 71% of the total student body.

Stamford International University hosts 1,101 Chinese students (27%), and Shinawatra University has 863 (79%).

Other universities with a notable proportion of Chinese students include Assumption University (23%) and Dhurakij Pundit University (16%).

The growing number of Chinese and international students has had a significant impact on housing demand.

Students need long-term accommodation, often for three-to-four years, depending on their programme.

Condominiums are the most popular housing option, as many Chinese students come from families with reasonable financial stability.

Condominium sales in areas around universities have been strong.

For example, Krirk University has seen about 13,209 condominium units sold in the past decade, driven by nearby Green and Pink Line Skytrain routes.

The area boasts a 95% sales rate, with an average price of 65,000 baht per sq m.

The area around Dhurakij Pundit University, though lacking a direct Skytrain connection, benefits from proximity to multiple lines, including the Purple, Red and Pink Lines.

Approximately 6,039 units have been sold here, with a high sales rate of 98% and an average price of 64,000 baht per sq m.

At Assumption University, the market for condominiums is smaller but still strong, with 2,619 units sold over the past decade.

Prices are lower here, averaging 50,000 baht per sq m.

The area around Bangkok Thonburi University lacks condominiums, with only housing developments, dormitories, and apartments.

The absence of a Skytrain connection makes travel less convenient, so many students rely on nearby accommodations.

Finally, areas around Bangkok University, Rangsit station, and Thammasat University have seen the most condominium development, with high demand for housing from students, faculty, and staff, particularly foreign nationals. — The Nation/ANN

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