Property projects from the United Kingdom regularly hold exhibitions in Thailand trying to attract buyers to their developments. Residential properties, car parking locations, warehouses, and university dormitories are among the projects pitched in the country with Thais responding favourably to them despite high selling prices.
The fall of the pound post-Brexit pound has made UK property more interesting to foreign investors who are considering buying real estate in places such as London. In addition to this, the economic conditions and local purchasing power in Britain have still not recovered meaning foreign buyers are in a position of strength.
“One other noteworthy trend is the rise in the number of international firms that are entering the British market to sell residential projects to Asians. This reflects high purchasing power in Asia and a general tendency among Asians to favour property as an investment over other asset classes. In addition, a lot of students from many countries in Asia are already studying in Britain,” says Colliers International Thailand Associate Director of Research Surachet Kongcheep to the Bangkok Post.
According to Colliers, 6,095 Thai students are currently studying in Britain and this is a segment more UK developers want to tap into. While this is significantly less than the 91,220 Chinese students studying in the UK, it is still a trend they are monitoring. In addition to providing their children with a place to stay, these properties can provide solid investment returns.
“The main reasons that Thai buyers want to buy property in the UK are long-term investment, the weak pound, continuing property value growth and the strong desire to have their children enjoy the opportunity to study in the UK. Thus, most of the residential projects from the UK that are selling in Thailand are in London or close to a university,” says Surachet.
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