Foreign Property Investors Eye Bangkok
Property investors from Australia, Singapore and Hong Kong are eyeing opportunities to snap up Thai property in the central business district. Foreign investors had asked some of the major real estate companies to locate attractive properties for them in prime areas for investment purposes.
Majority of investors preferred serviced apartments, residential buildings and hotels in the central business district.
Some of the companies are now dealing with foreign investors interested in serviced apartments and hotels in the prime areas and hotels in Phuket and Pattaya, as well as residential and retail buildings. However, the name the investors were not disclosed, pending completion of the transactions.
Property prices in Thailand have bottomed out, adding that they were relatively low, similar to those in Indonesia. However, Thailand's political and economic stability compared to Indonesia is seen as more attractive to foreign buyers.
UK-based property companies and funds were looking to buy in Thailand as well, especially office and retail buildings. A few UK-based companies are interested in joint ventures with SC Asset to buy office buildings in prime central business districts, but names cannot be revealed. UK-based companies were interested in buying completed buildings rather than land in Bangkok because supply in the sector had outstripped demand, meaning lower prices than before the economic crisis began.
Since 1998 approximately more than 50 property funds have invested in Thai property companies, both through the purchase of a stake and cash injection. Major deals have included GIC Real Estate's 20-per-cent stake in Land and House Co., Westbrook Partners' 40-per-cent equity investment in Amarin Plaza Plc and Lehman Brother's 20-per-cent buy into Noble Development.
Attractive factors helping the positive investment environment could be attributed to the improvement in fundamental factors, such as gross-domestic-product growth and low interest and inflation rates.
Majority of investors preferred serviced apartments, residential buildings and hotels in the central business district.
Some of the companies are now dealing with foreign investors interested in serviced apartments and hotels in the prime areas and hotels in Phuket and Pattaya, as well as residential and retail buildings. However, the name the investors were not disclosed, pending completion of the transactions.
Property prices in Thailand have bottomed out, adding that they were relatively low, similar to those in Indonesia. However, Thailand's political and economic stability compared to Indonesia is seen as more attractive to foreign buyers.
UK-based property companies and funds were looking to buy in Thailand as well, especially office and retail buildings. A few UK-based companies are interested in joint ventures with SC Asset to buy office buildings in prime central business districts, but names cannot be revealed. UK-based companies were interested in buying completed buildings rather than land in Bangkok because supply in the sector had outstripped demand, meaning lower prices than before the economic crisis began.
Since 1998 approximately more than 50 property funds have invested in Thai property companies, both through the purchase of a stake and cash injection. Major deals have included GIC Real Estate's 20-per-cent stake in Land and House Co., Westbrook Partners' 40-per-cent equity investment in Amarin Plaza Plc and Lehman Brother's 20-per-cent buy into Noble Development.
Attractive factors helping the positive investment environment could be attributed to the improvement in fundamental factors, such as gross-domestic-product growth and low interest and inflation rates.
Labels: apartments, Property investors, Residential
Posted by Moveandstay
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