London developers turning to Thai buyers

Bangkok will see an increase in the number of London property exhibitions over the coming months as more UK developers include the Thai capital on their Southeast Asia sales events, says PropertyGuru’s Andrew Batt from Singapore.

file0001612910698Last week prolific UK developer Berkeley Homes showcased The Corniche project on the banks of the River Thames to property buyers and investors in Bangkok after holding successful sales events in Singapore and Jakarta.

Suphin Mechuchep, Managing Director of Jones Lang LaSalle, the agency responsible for the sales event, declared herself to be happy with the outcome: “As expected we saw strong interest of wealthy Thais in the sales exhibition. A number of them were senior executives of Thai companies looking for a residence for their children studying in London, or were looking for an investment opportunity.

“Some attendees were young people planning to study in London and are looking for a residence for themselves.

“Interestingly, a good number of expats living in Bangkok also showed high interest in the event.”

Suphin added that this week’s event was aimed at introducing The Corniche to potential buyers in Thailand; “We did not expect to close sales on spot,” she said. “Most prospects would need time to study the project thoroughly before making a decision.”

Jones Lang LaSalle confirmed it has plans to bring more London developments to Bangkok if any of them offers good value for money for buyers in Thailand.

Savills Thailand will be exhibiting Kings Gate, a development by Land Securities, at a property exhibition in Bangkok later this week.

The project, which offers one-, two- and three-bedroom apartments alongside duplex penthouses, will be showcased an a property exhibition at M Thai Tower, 2nd floor, All Seasons Place, on September 26 – 29 between 10.30am and 7.30pm. Prices for units at the prime central London development located close to Buckingham Palace and Westminster Abbey, start from THB37.6 million

Colliers International Thailand has also been actively marketing what it describes as an exceptional collection of beautifully restores apartments that form part of an Edwardian Terrace in Kensington High Street to Thailand property buyers and investors. Prices for the English Rose Estates development start from £950,000.

Prior to 2013 very few overseas property exhibitions took place in Thailand however the trend of developers targeting wealthy buyers in the kingdom is increasing.

Andrew Batt is International Group Editor of PropertyGuru