Thai listed property developer Sansiri has revealed it has achieved THB8.5 billion in sales from foreign buyers, with Hong Kong, Singapore and Russia being the top three countries buying Sansiri condominiums.
According to the company, the economic and political volatility is believed to have no effect on the customer confidence in local property investment.
To date, the top foreign buyers of Sansiri condominiums are from Hong Kong, Singapore and Russia.
One- and two-bedrooms were found to be the most popular unit types for the buyers of properties in Bangkok, while demand in other provinces, particularly in key resort areas, extends to all unit sizes due to various preferences.
A range of stimulating marketing activities and offers are set to be launched in Q4 to continuously expand its foreign customer base.
Srettha Thavisin, President of Sansiri, said: “Sansiri has enjoyed total sales of THB8.5 billion generated from foreign buyers alone, which amounts to 5 percent of our total sales to the end of August.
“Such figures have been achieved from 1,500 condominium units sold to customers from 55 countries, with our top five buyers being from Hong Kong 9.6 percent (THB820 million), Singapore 5.6 percent (THB480 million), Russia 5.5 percent (THB470 million), England 4.7 percent (THB400 million) and France 4.3 percent (THB370 million).”
Sales from this market segment alone during the past eight months of 2014 closed at THB585 million, up 460 percent from the same period last year,
Srettha continued: “Although Thailand has experienced economic uncertainty as a result of political unrest starting from the end of last year to the middle of this year, foreign investors still show strong confidence in property investment in Thailand.
“These investors are accustomed to our political situations and are well aware that such negative economic factors were only temporary.
“Overseas buyers have selected Thailand as their property investment destination because of the high rates of return on Investment and the highly competitive prices of properties in comparison to Singapore and Hong Kong, among other places.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
