As a property investor, you know it’s no secret that Hong Kong properties are one of the most expensive in the world. As a result, Hong Kong investors look for overseas alternatives such as Thailand condos. Property investment from Hong Kong has zeroed in on Thailand’s condominium market mostly because of the lower condo prices in Thailand, which is a contrast to sky-high prices in Hong Kong.
In an interview with The Nation, general manager of Siam Commercial Bank’s Hong Kong branch Theerapan Nunthapolpat revealed that investors from Hong Kong are buying more Thailand condos because of healthy returns on their investment of more than 5% a year.
The Bangkok business district skyline
To put things into perspective, Hong Kong condominiums are usually priced at around 10,000 to 40,000 HKD per square foot. This converts to roughly Bt450,000 to Bt1.8 million per square metre. Meanwhile, mid- to upper-range Thailand condos are priced from Bt150,000 to Bt250,000 per square metre. According to The Nation, the priciest Thailand luxury condo right now is the fully furnished 98 Wireless project which costs around Bt550,000 per square metre.
Popular tourist spot Phuket, Thailand
Hong Kong investors’ buying trend shows that they are more interested in a Thailand luxury condo usually priced at Bt5 million to Bt10 million. A strong demand to buy Thai condos in Bangkok central business district is high as well. A popular location is Bangkok’s Sukhumvit area. Demand for Thailand condos is also high in popular tourist destinations such as Pattaya and Phuket.
With an emerging economy and millions of tourists every year, Thailand is truly a property investment haven. Thailand condos, especially in good locations such as business districts and popular tourist spots, have a lot of business potential. Meanwhile, luxury condos in Thailand’s business districts generate “return on investment averaging 5-8%a year.”
If you are a property investor, why not look for overseas properties with lower prices and higher potential business investment such as Thailand condos? If you’re planning on investing in Thailand or Bangkok property, stay tuned to this blog for more Thailand properties for sale and other overseas property buying tips.