Wealthy Thais eye London
Thai property buyers and investors are being tempted by London properties in ever-increasing numbers.
Friday 29 June 2012, 02:50PM
London property exhibitions, which take place almost every weekend in Singapore, Kuala Lumpur and Hong Kong, have so far been a relatively rare sight in Bangkok.
But as wealthy Thais look overseas in greater numbers, so property developers are starting to bring their projects to the Land of Smiles.
Last weekend (June 16-17) Savills showcased Berkeley Homes’ 375 High Street Kensington development, hot on the heels of Spenhill’s Woolwich Central project which was exhibited in the Thai capital last weekend.
Unlike buyers in other Southeast Asian cities, who are driven primarily by a desire to invest, the demand from Thai buyers is different.
Robert Collins, Managing Director of Savills (Thailand), said: “We are finding interest for Thai buyers is primarily led by owner-occupier use and a trend socially for buying a prime London home.
“There has been very limited buy-to-let interest so far, and the trend therefore differs quite significantly from the Hong Kong and Singapore markets. This is reflected in the types of apartments that Savills has been selling in Bangkok.”