Rich residents of Singapore and India are the biggest Asian buyers of Thailand property, according to a recent survey of overseas property purchases by HSBC.
A total of 37 percent of affluent Asians own overseas property, according to the research which was conducted in September 2013. ‘Affluent’ was described by HSBC as those people who have more than the equivalent of THB5.1 million in investable assets.
Some 9 percent of Singaporeans and Indians who were surveyed revealed they own property in Thailand. Nationals of Hong Kong (7 percent), Malaysia (5 percent), China (4 percent), Indonesia (2 percent) and Taiwan (2 percent) also revealed their interest in Thailand property.
Regionally, Australia was named as the most popular overseas property buying destination for Asians from the survey nations.
Alice Del Vecchio, Head of Mortgages for HSBC in Australia, credited Australia’s appeal amongst Asian investors to its proximity, quality education and lifestyle.
The survey conducted by RFi on behalf of HSBC surveyed 7,245 affluent individuals in Indonesia, Malaysia, China, Hong Kong, India, Singapore and Taiwan to understand their international property investment appetite and intentions. Of these individuals, 2,700 owned investment property overseas.
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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