Thailand property developer Sansiri ended 2014 on a strong note with revenue ranking among the industry’s top three performers, thanks in no small part to significant sales to expats and foreign investors.
The company is notably for its varied inventory of quality property appealing to expat buyers looking to invest in Thailand, where foreigners are entitled to up to 49 percent ownership of the available space in any condominium developments.
Sales to foreign investors totalled 322 units valued at more than THB1.65 billion during 2014. Chinese investors led the way, accounting for 25 percent, with 21 percent sold in Singapore, 6 percent in Malaysia and 3 percent in Hong Kong.
The top 10 international buyers by value was headed by sales to Russia worth THB346 million, followed by China worth THB321 million and Singapore at THB211 million. Among foreign buyers, 80 percent (a total of 253) of the units sold were for renting and 18 percent (57) were for personal use.
Sansiri Chief Executive Officer and Co-founder Mr. Apichart Chutrakul. Said: “Property prices in Thailand remain very attractive by international standards, for example at least four times cheaper than Singapore.
“With strong economic fundamentals, the market also offers good prospects for capital gains, with quality high-end and luxury projects in the best locations ensuring maximised capital appreciation in the long-term” said
“Cooling measures implemented by the Singapore, Hong Kong and China governments on their local property markets have “contributed to investors considering alternative property investment in the region”, he added.
Image: Sansiri’s Baan Mai Khao in Phuket has attracted significant foreign interest.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
