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SG Strong interest in Thai property from Singapore buyers and investors

Property Here - Monday, April 29, 2013

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By Andrew Batt:

Thailand was attracting strong interest from Singaporeans at property exhibitions in the city-state last weekend.

“Bangkok is booming,” said Edwin Soon, Sales and Marketing Director for ECG whose agency was marketing developments from Fragrant Group, including Circle 11 in the centre of the Thai capital.

Soon added: “Most buyers we saw were buying for investment – both for rental yields and potential capital appreciation. Prices of residential in Bangkok have been rising constantly even throughout the political disturbances of recent years.”

Despite recent media reports of a possible bubble in the Bangkok property market, Soon said none of the buyers he saw were concerned by the news.

“The Bangkok property market still has room to grow,” he said. “None of the buyers I spoke to said the ‘possible bubble’ was an issue.”

Developer Raimon Land, which was showcasing its prime 185 Rajadamri development outside Thailand for the first time, was also seeing significant interest (pictured).

Simon Derville, the company’s Deputy Vice President of Business Development, said: “We’ve sold 80 percent of this project so far, and 80 percent of what we’ve sold has been to Thai buyers.”

Derville was also dismissive of suggestions of a bubble. “There’s no sign of one, especially at the luxury end of the market,” he said. “The market has been flat but demand has certainly started to pick up.”

Also selling well was Chateau-In-Town, the latest offering from CMC Group located about 250 metres from the Bangchak BTS station in what many consider to be an up-and-coming area.

Justin Sirias Chan, Head of Regional Project Marketing for the developer, said: “Many Singaporeans are attracted to this particular development because of its proximity to the Anglo Singapore International School.”

He added that a significant number of units at the low-density freehold project had been sold at the weekend event.

 

Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg