EXCLUSIVE: A U.K. student accommodation developer has hailed its first property exhibition in Bangkok a success after attracting strong interest from Thai property investors.
The event, which took place last weekend and was hosted by Sincere Real Estate, featured several luxury student accommodation developments in the north of England.
Julie Harvey, Sales and Marketing Director of the developer Pinnacle MC Global Network, told DDproperty.com: "We had a very successful day with a good number of sales.”
Harvey added: “For many of the investors we met in Bangkok this was the first time they had invested outside of Thailand. It is very secure, and as there is such a high demand for student accommodation we offer a guaranteed yield for the first five years.”
She admitted to being a little concerned about the ongoing political situation in Thailand but added: “ … it did not stop the investors attending our show.”
Following the success of last weekend’s event Pinnacle plans to exhibit in Thailand regularly in the future.
A spokesperson for Sincere Real Estate, Pinnacle’s Thai real estate agency partner, told DDproperty.com that the response to the event was “… beyond our expectations.”
The agency said 20 units were booked during the exhibition, and it is expecting more sales to investors who were not able to make a decision at the show.
The real estate agency noted that one reason behind the popularity of this investment with its clients was that for the price – equivalent to around THB2.9 million – it’s difficult to find a suitable investment condominium property in Bangkok.
“The 8.5 percent rental yield guarantee for five years, and the professional accommodation management company also makes investors feel very secure in their overseas property investment,” the spokesperson added.
According to research from Knight Frank, student accommodation investments will continue to outstrip traditional asset classes during 2014.
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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