Developers eye Chinese buyers

Developers carrying a large number of unsold condos are tapping investment-oriented overseas buyers, mainly in China.

Kitisak Jampathippong, chief executive of property consultant Century 21 (Thailand) Co, said there are several developers, particularly listed firms, holding a large condo inventory and seeking new sales channels to drain the units.

"Condo demand in the lower to mid-priced segment from Thai buyers is limited these days, as the property market slows and many buyers are rejected for mortgages," he said.

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