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Thai properties at risk as Chinese buyers go cold amid abduction, trafficking news

Chinese buyers have been the most active buyers of Thai properties among foreign investors, according to industry data

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An aerial view of a luxury residential neighborhood in Bangkok. Photo: Shutterstock Images

Beijing resident Evelyn Lin paid US$274,000 for a flat in Bangkok in 2018, hoping to use the property as her home when she spends holidays in the Thai capital.

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However, the recent spate of kidnappings of mainland Chinese and the trafficking of Hong Kong residents to scam farms in nearby countries are keeping her away from Southeast Asia’s most popular tourist destination.

“I spent two months in Thailand last year and I thought Bangkok was quite safe, but recent news coming out from the country had me worried,” the 39-year-old finance executive said. “I have no intention to go back to Thailand again.”

While Lin has no immediate plans to sell her Bangkok property, her worries about personal safety could undermine sentiment among the single largest group of foreign investors in Thailand’s property market and hurt local home builders amid a supply glut.

Chinese buyers, including those from Hong Kong, bought 4,386 residential units worth 20.2 billion baht (US$596 million) in the first nine months of 2024, according to industry data. Their purchases exceeded the combined amount spent by the next nine top foreign investor groups.

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Hong Kong task force to help rescue residents forced into working at Southeast Asia scam centres

Hong Kong task force to help rescue residents forced into working at Southeast Asia scam centres

Earlier this month, Chinese actor Wang Xing was rescued from a so-called scam farm in Myawaddy in Myanmar, according to media reports. Wang had taken a flight to Bangkok, where he was supposed to work on a film production, but was abducted on his arrival.

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