Foreigners still interested in Thai property despite coup
Foreign investors have continued to expand in the property market even though the country has been under the management of the junta since May 22, according to Knight Frank Chartered (Thailand) Co. “Last week, we roadshowed in Singapore. We [were able to] sell 12 condominiums on Sathorn Road to
foreign buyers from both Asia, such as Singapore and Hong Kong, and Europe, such as the UK,” executive director Frank Khan said yesterday. Foreign investors have understood what’s happening here and also have continued to have confidence to invest, especially in residential projects, because prices are still lower than in other countries in Asean, he said.
European buyers especially from Britain and Russia are looking for units in the resort destinations of Pattaya and Phuket at prices ranging from Bt5 million to more than Bt10 million.
The company plans to promote the Thai property market in Singapore, Hong Kong and Britain in the second half of this year with the focus on condominiums and resort residences.
Local investors are interested in properties in Asia and Europe, as returns on real-estate investment are higher than on deposits and other assets. London is a potential target as real estate there still generates a return of 7-8 per cent a year, said Nicholas Holt, head of Asia-Pacific research.
“Next month we will pick up Thai investors to visit London to see properties there, while in September property owners in London will roadshow their property in Thailand. They have continued to have confidence in Thailand at a time when the country is managed by the National Council for Peace and Order,” he said.
*The article can be found at: http://www.nationmultimedia.com/business/Foreigners-still-interested-in-Thai-property-despi-30236132.html
@The Nation | June 13, 2014 1:00 am
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