EXCLUSIVE: Leading Thai developer Land & Houses made its first sales forray outside Thailand last weekend when it held a Singapore property exhibition of its The Bangkok Sathorn (pictured) and The Room Sukhumvit 21 freehold condominium projects.
Frank Khan, Head of Residential for real estate agency Knight Frank, declared himself pleased with the positive levels of interest shown at the event, which also witnessed a number of sales of the THB10 million priced properties from one of Thailand’s top property developers.
Khan told DDproperty.com: “Singaporean property buyers and investors are often accustomed to buying in the first phase of an overseas development and enjoying capital appreciation once the project is completed. It also gives them several years to obtain finance to their purchase.
“In this case both developments are close to completion, and are also priced at a point where an
instant decision is often more difficult to make. Something priced at, for example, S$250,000 requires a quicker and easier decision that something on offer at twice that price.”
Khan added that some potential buyers were also opting to wait-and-see pending the outcome of the fluctuating global economy and political instability in the Middle East.
He revealed that his agency may choose to be more cautious in the future when decided the types of property it brings to exhibitions in Singapore.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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