China News Service, Beijing, June 17 (Reporter Pang Wuji) The report “Overseas Real Estate Investment of Buyers in Asia Pacific” released by Juwai IQI, an Asian real estate technology group, in the first quarter of 2024 shows that Southeast Asia is becoming an emerging destination for cross-border real estate investment in Asia Pacific.

The report pointed out that in the first quarter of this year, in addition to traditional popular investment destinations such as Canada, the United States, and Australia, Southeast Asian countries such as Vietnam, Indonesia, and the Philippines also squeezed into the top ten list of investment destinations for cross-border real estate investors in Asia Pacific. There is a trend of accelerated mutual flow in Asia-Pacific cross-border real estate investment.

The report pointed out that Vietnam has attracted much attention for its rapid economic growth, favorable investment environment and infrastructure investment plans. Indonesia has a large population, rapid economic development, a growing middle-income group, and great potential for real estate investment. The Philippines has attracted much attention for its strong economic growth and remittances of more than US$30 billion each year, which help support local real estate prices.

From the perspective of major buyers, the report believes that mainland China, Hong Kong, Malaysia, Thailand, Singapore, etc. are the main sources of cross-border real estate buyers in the Asia-Pacific region.

Daniel Ho, managing director of Juwai IQI Group, said that Southeast Asia has become an emerging destination for cross-border buyers in the Asia-Pacific region, which is closely related to the investment expansion of Chinese companies in Southeast Asia. “We have come into contact with more and more Chinese companies that are interested in buying land and building factories in Malaysia, Thailand and Cambodia, building industrial parks, or setting up regional headquarters in Singapore. These companies are involved in many fields such as technology, agriculture, chemicals, and education. It is expected that this trend is still in its infancy.”

Sisi Li, marketing manager of T.H Group Phuket, a real estate developer in Phuket, Thailand, said that since the beginning of this year, Asia-Pacific investors have paid more attention to Phuket real estate. “During the epidemic, the buyers of Phuket apartments were mainly Europeans. But this year’s newly launched Ayana Phuket apartment has received 50% more inquiries from buyers in the Asia-Pacific region than the same period last year.”