Demand from Hong Hong overseas buyers for Thailand property has seen one local real estate agency open a shop dedicated to primarily selling properties from the Kingdom.
Speaking to local media, Terence Chan Cheuk-ming, a partner at Golden Emperor, said: “We used to sell properties via exhibitions, but we noticed that the buying interest in overseas properties from the public was on the rise.
“These people do not prefer to go to property exhibitions, they enjoy visiting street shops and talking to agents, so we decided to open our first retail outlet.”
Chan, who had been helping friends and investors to invest in overseas properties for six years, and Kingston Li, a former executive director at Morgan Stanley Hong Kong, formed the Golden Emperor real estate firm last year.
The shop in the Sheung Wan area highlights more than 20 properties from Thailand, including offerings from Sansiri and Banyan Tree in Bangkok, and developments elsewhere in the Kingdom.
Chan was reported as saying that the growing buying interest in Thailand was mostly triggered by higher rental yields.
He said that Bangkok offers net yields of 5 percent to 7 percent compared with just 2 percent to 3 percent in Hong Kong.
The company also offers property from Australia and the United Kingdom alongside its offerings from Thailand.
Golden Emperor also noted that Thailand property prices had risen only about 24 percent during the past 10 years, which is less than in other key Asian markets such as Hong Kong and Singapore, without citing the source of its claim.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
