By Andrew Batt:
Thailand’s property market could be set to benefit from the rise in London property prices.
In an article published earlier this month by The Sunday Times in the United Kingdom, Robert Collins, Chief Executive Officer of Savills (Thailand) said: “Because London is now so expensive, buyers from Hong Kong and expats, who would have bought [in London], are looking back at Thailand and buying again.”
Collins added that he felt there is a glut of homes in the mid-range, but not at the high end where there is a lack of supply.
The interest in Thailand has also been coming from Singapore, where projects that have exhibited to buyers in the city state have sold well.
Just last weekend two Bangkok developments were showcased there, and this week Raimon Land will be tempting buyers and investors to its 185 Rajadamri project.
With the Bank of Thailand tightening lending criteria on fears of a possible property bubble, some developers are likely to be looking overseas in their search for potential buyers.
At least two banks in Singapore are currently offering finance to foreigners for their Thailand property purchases.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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