China’s LGBT Community Gobbling Up Thai Real Estate

by admin on August 27, 2018

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Members of China’s LGBT community are flocking to Thailand to buy condos, thanks to cheap property costs and a relative openness towards gay and transgender people, according to a Juwai, a popular Chinese real estate website.

The website looked at the most popular destinations in the world for mainland Chinese people to buy real estate abroad. Bangkok and Phuket came in at number one and two, respectively.

In the past year-and-a-half alone, Chinese buyers have made $1 billion worth of purchasing inquiries for property in Bangkok. Of that total, LGBT inquiries came in at over $50 million.

In China, LGBT individuals have a much higher median average income and purchasing power than other groups–five times higher to be exact.

That disposable income also goes a lot further too considering LGBT couples are not allowed to adopt children in China, so have smaller families to support.

That paired with the fact that LGBT people face many hardships in China, where homosexuality is considered a mental illness, have led them to buy property in more LGBT-friendly countries like Thailand.

Read the full story here.

For issues surrounding condo purchasing in Thailand, contact one of the expert Thailand real estate lawyers at Chaninat & Leeds.

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