Malaysian real estate investors have been purchasing property overseas for a while now but have traditionally looked to developed countries such as Britain and Australia.
Interestingly, our northern neighbour Thailand is beginning to draw attention too.
Keen to attract Malaysians to the real estate scene in the Land of Smiles, Sansiri PLC, one of Thailand’s top developers, is holding a seminar to promote the Base Park East @Sukhumvit T77 project in Bangkok today and tomorrow.
The event will be held at the Sunflower & Lavender Room (Level C), One World Hotel, Bandar Utama, Petaling Jaya.
The Base Park East is a freehold condominium block with 27 floors within a mixed development project comprising other residential tower blocks and a community shopping centre. Construction of the 504-unit tower was completed in November last year.
Sansiri, which has been operating for the past 32 years, is offering one-room/one-bathroom and two-room/two-bathroom units, with prices ranging from RM325,000 to RM772,000 (based on an exchange rate of 8.25 baht to the ringgit).
Sansiri said Bangkok was an attractive option for Malaysian real estate buyers, with Thailand coming second to Singapore in terms of foreign direct investment in the Asean region.
Many major automobile manufacturers from Japan have been setting up their manufacturing lines in Thailand for many years.
Although English is not widely spoken, Thailand and its vibrant capital Bangkok is very cosmopolitan and draws visitors from all over the world.
According to the developer, Thailand is one of the more sustainable economies in the Asean region with domestic consumption far exceeding that of its neighbours.
As such, its property market is in demand because of the high local take-up rate.
Rental yields have been averaging between 6% and 7% per annum, particularly in Bangkok.
Capital appreciation of properties in Thailand is also very impressive, it claims, with a return on investment of 20% per annum.
The next five years in Thailand is expected to be one of its most exciting periods.
Government funds have been pouring in to develop key infrastructure and boost its real estate market further.
Investment in infrastructure such as railway double-tracking, motorways, and 10 new mass-transit routes will make Thailand a regional transport hub in the Asean Economic Community (AEC).
This will boost demand to buy homes in Thailand, both in Bangkok and the provinces as foreign companies invest in Thailand as a gateway to other Asean countries.
Thailand is primed to be the central gateway of the AEC with further infrastructure projects making it the South-East Asian hub of the One Belt One Road (OBOR) initiative by China.
In addition, Thailand is also a renowned international tourist destination.
Bangkok is the economic centre of the country’s investment and development projects, and has the highest population in Thailand.
Demand for homes close to the mass-transit system will continue to be strong.
More consumers will also show interest in developments towards the city’s fringes, especially those located close to the train stations.
When the Government invests in infrastructure projects, this will open up new land for property firms to develop residential projects, especially along the new mass-transit route from Bangkok to the suburbs.
For details on the “Invest Thailand: An Emerging Asean Powerhouse” seminar, call CBD Properties at 012-211 6954 or 03-7710 7777.