18 Oct Malaysians turn to Thai property
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We are becoming a world of overseas property spenders. Investors are looking further afield than home turf for their next purchase. Many look to other markets to capitalise from potential growth or for a second home. In the recent report ‘Looking beyond Borders’ by Knight Frank India and the International Real Estate Expo, Indians spent USD 112 million on overseas property in the last fiscal year. A hike of USD 23.6 million if compared to the previous year and looking further back an increase of nearly 60 times from 2005 to 2006. Their international shopping sprees have recently ramped up due to the strength of the rupee.
Meanwhile according to Singapore’s Urban Redevelopment Authority there has been a 48 percent increase in foreign purchases for the first half of 2017. With the Chinese, Malaysians and Indonesians making up the majority of transactions. The Indonesians being the nation who have the biggest spending power.
Now it has been revealed that Malaysians are looking to new countries for their next purchase. They are now turning to Thailand and Japan. Shying away from their previous property destinations such as Australia and the UK, the Malaysians are drawn to Thailand thanks to the lower prices on offer. Despite the weaker ringgit high-net-worth individuals are still looking overseas for their next property move. But due to currency fluctuations the traditional safe havens are more expensive than usual.
Many are eyeing up Bangkok for a combination of reasons. There is a vast choice in the type of property available. Plus the capital’s status as a top destination city keeps the tourists rolling in. Consequently property can be let out on a holiday let.
If you are looking for a property to buy in Bangkok then take a look at Terra International Realty’s comprehensive listings found online here.
Source: Thailand Property