Chinese investors have become an important driver of Thailands property market, particularly when it comes to condominiums in Bangkok. Last year, Thailand was the most popular country for Chinese property buyers. That's according to Juwai.com, a Chinese international property portal. Our correspondent Dusita Saokaew has more.

In the heart of Bangkok's CBD, a brand new, luxury condominium has just been built. High above on the 33rd Floor, this unit was one of 65,000 units that entered the Thai market last year, an increase of 11% from 2017. Over the past decade, a condominium boom has reshaped the city of Bangkok into a vertical metropolis. Sureeporn has been a sales agent for more than 6 years. And as she takes clients to view show units every day, she has witnessed a phenomenon that has transformed Thailand's residential market.

SUREEPORN TIEMSUP ASSISTING DIVISION MANAGER, NOBLE DEVELOPMENT PCL "When I started working here, it was mostly Thai clients, but in the past few years, I've seen much stronger interest from foreign buyers who are buying more and more units in our projects."

Foreigners are allowed to own 49% of units in any condominium project in Thailand. And single-handedly driving this are Chinese buyers who spent a record $1.25 billion on Thai properties last year. Recent projects by Noble Development have sold out their foreign quota with Chinese buyers making up almost 70% of sales. This crucial market dictates their marketing efforts- A huge distribution network in China, property exhibitions, Chinese speaking agents and showrooms catering to Chinese buyers.

THONGCHAI BUSRAPAN CO-CEO, NOBLE DEVELOPMENT PCL "People from Mainland China, they want to have the second home in Bangkok and they see that the property prices in Thailand is quite attractive compared to their home countries, also the rental yields and everything supporting, so it becomes a good choice for investment."

Good for foreigners, not so much for average Thais. Property prices have almost doubled as foreign money is pushing up prices. Over 450,000 residential units across the country were left unsold last year creating an oversupply of empty homes.

SURACHET KONGCHEEP MANAGING DIRECTOR, PHOENIX PROPERTY DEVELOPMENT AND CONSULTANCY "Some developers in Thailand, they are looking to sell their 49% of foreign quotas to Chinese buyers only, so they don't care about Thai buyers. And they develop the project with their selling price too high."

DUSITA SAOKAEW BANGKOK "In order to prevent a real estate bubble, the Bank of Thailand tightened lending policies, which have made it more difficult for Thai people to buy homes, causing a slowdown in local property sales. But observers say interest from foreign buyers particularly Chinese investors will sustain the sector for years to come."

With Chinese demand at an apogee, Noble expects their sales to foreigners to hit $200 million this year, that's more than double last year's figure. And as this unit on the 33rd floor looks likely to become a tangible dream home for someone from China, the dream of owning a condominium in the heart of Bangkok, for average Thai becomes higher and higher to reach. Dusita Saokaew, CGTN, Bangkok, Thailand.