Connect with us

Bangkok

Hong Kong’s protests have been good for Bangkok’s luxury condo market

The Thaiger

Published 

 on 

Hong Kong’s protests have been good for Bangkok’s luxury condo market | The Thaiger
  • follow us in feedly

High end Hong Kong investment is turning away from the Chinese business hub and looking outside for new investment opportunities.

Thailand’s high-end luxury condo market has been one of the beneficiaries.

Keerin Chutumstid, from the Bangkok-based Magnolia Quality Development, says about 40% of the condos in a 52 storey Bangkok luxury tower development that opened last week have already been sold to buyers from mainland China, Hong Kong, Taiwan and Singapore. Among those, mainland Chinese and Hong Buyers are the top foreign customers.

The new luxury tower on the Chao Phraya River has 146 units, which are managed by 5 star managers Mandarin Oriental Hotel Group. Prices start at 65 million baht (US$2.9 million) and go up to 533 million baht for the larger penthouses.

Keerim says that the protests give them an advantage for the project.

“If you look at Thailand right now, compared to other countries, we have a good level of political stability.”

Meanwhile, Thailand leading property portal FazWaz says there has been a noticeable surge of enquiries in the past few months. CEO Brennan Campbell says a lot of the new interest is coming out of Hong Kong and Mainland China….

“FazWaz has noted an influx of investment inquiries over the past two months. The city’s high-end market offers some of the best condominium properties in the world at prices still well below other mature property markets. We’re also seeing a lot more inquiries into the medium-level condo market from 6-15 million baht as well as for the ultra-luxury market over 35 million baht.”

Last week, Hong Kong’s CK Asset Holdings and Sun Hung Kai Properties decided to postpone sales of new multi-billion-dollar projects, and transactions in the secondary market are down sharply, especially for luxury homes. The slump follows two months of protracted and often violent street protests by Hong Kong’s pro-democracy movement.

It’s believed that the circumstance could add another tailwind to the luxury market in Bangkok, where the last decade’s tourism boom has put the city on the map for investors, especially mainland Chinese who have buying up big.

Bangkok real estate has also been attractive to international investors because, even after years of gains, prices are still often cheaper than in less travelled-to cities such as Jakarta, Kuala Lumpur, or Vietnam’s Ho Chi Minh City.

Keep in contact with The Thaiger by following our Facebook page.



Read more headlines, reports & breaking news in Bangkok. Or catch up on your Thailand news.

Interested in more property news or buying property in Thailand - check out FazWaz today!

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crime

Sexual assault, not theft, motive for spiked water bottles – Police

Jack Burton

Published

on

Sexual assault, not theft, motive for spiked water bottles – Police | The Thaiger
PHOTO: Facebook

In an unexpected development to a story which has recently made headlines, police in Nonthaburi, just north of Bangkok, now claim sex, rather than theft, was the likely motivation behind the cases of spiked water bottles of joggers at a public park. On Friday police announced progress in the investigation into cases at the park in the government complex, following reports in June of joggers being hospitalised after drinking water from their sports bottles. 9 men have now been questioned and detained by police over alleged sexual activities at Nonthaburi City Hall’s park. They were detained as part of an ongoing […]

Continue Reading

Environment

Report claims air pollution “kills thousands”, costs billions annually

Jack Burton

Published

on

Report claims air pollution “kills thousands”, costs billions annually | The Thaiger
PHOTO: Smog blankets Bangkok - Nation Thailand

“In mere months, major cities around the world have lost tens of thousands of lives and well into the tens of billions of dollars in economic productivity.” New data released by environmental groups makes claims that air pollution in Bangkok alone has caused some 6,800 deaths and an economic loss of 81.4 billion baht so far this year. The data, released online earlier by the Helsinki-based Centre for Research on Energy and Clean Air, Greenpeace – Southeast Asia and the real-time air quality monitor IQAir Air Visual, measured smog in 28 major cities worldwide and used models devised by the […]

Continue Reading

Road deaths

Motorcyclist, gazing at phone, plummets from Bangkok bridge

Jack Burton

Published

on

Motorcyclist, gazing at phone, plummets from Bangkok bridge | The Thaiger
PHOTO: Line Today

A man is dead after plummeting 10 metres from Bangkok’s Rama 3 bridge yesterday. Police and rescue workers were called to an area below the bridge and found the body of a 43 year old motorcyclist, identified only as “Kiatpong.” Still on the bridge was his Honda Zoomer-X scooter, and there was evidence of scratches along the bridge wall. He appeared to have been a deliveryman as there was a large delivery box on the back of the motorbike. Witnesses who saw him fall say he was killed instantly. Motorcycles are not allowed on the Rama 3 bridge. Police looked at […]

Continue Reading

Trending