“Chinese buyers would delay the transfer of property ownership in the first half of the year due to the Covid-19 coronavirus outbreak,” Parinya said. “However, it would affect the market only slightly as Chinese make up just 6 per cent of total apartment buyers.”

Meanwhile, Phoenix Property Development and Consultancy managing director Surachet Kongcheep said negative factors such as the virus and a global economic slowdown have led to a decrease of around 40 per cent of Chinese buying Thai property.

“We hope those Chinese who have bought property would transfer ownership,” he added.