With current prevailing peace in magnolia, the sales figure is considered normal. Major reason for this is that during current month there is no violence that broke in previous days by anti-government protester. The managing director, Thanawan Chaiwatana, has also claimed that foreign traders and buyers have good idea of Thai politics. According to current report the company sale has been raised to one billion baht. This huge amount represents sixty five percent of the whole value of the project. It also clarify that there is an equal ratio of Thai and foreign investors including about fifteen percent from Hong Kong, ten percent from china, seven percent from Singapore and others from around the globe.
Additionally managing director of CB Richard Ellis, a property consultant of Thailand, Aliwassa Pathndaburt, stated that foreign investors are keener to buy property in Thailand and specially condos in center of the city. According to them about forty four percent of buyers in four high priced large projects including Nana, Lang Suan, Phrom Phong and Ratchadamri, were foreigners.
During the phase of economy fluctuation, rich buyers, having cash in hand try to invest in low risk properties in good prime locations, particularly in areas where new development is not possible due to absence of clear lots. Secondly foreign investors also tend to work with those developers who have sound reputation, secure construction progress with right size of units at low price.
- Residential Rents for Expatriates in Bangkok is Expected to Increase
- Certain Buyers Left Dissatisfaction as Thai Developers Fail to obtain EIA Approval
- Rates of Housing Units increases to 48% during 4 Years
- Developers welcome the ideas of Finance Ministry to Tax the Vacant and New Land
- No Risk of Property Bubble in Thailand