English Buyers Set Their Sights on Thailand
English overseas property investors are very interested in foreign real estate, as evidenced by the throngs of attendants at the Place in the Sun property exhibition held in the Olympia Exhibition Center in London. The exhibit, which took place from April 12-14, 2013, received more than 5,000 interested parties, which is 20% higher than the figures recorded in 2012.
‘A Place in the Sun’
London’s famous A Place in the Sun exhibit is inspired by the same-titled TV series from the British Channel 4. The exhibit’s mission is to help buyers and investors make an informed choice about the properties and real estates they wish to purchase abroad. A Place in the Sun usually plays host to more than 100 exhibitors, selling properties ranging from £20,000 to £1 million in beautiful locations, such as USA, France, Spain, Italy, Egypt and Australia, to name a few. With exhibitors presenting important information about the properties in their home countries, interested British buyers can make the best decision for their foreign land purchases and investments.
Robert Edwards, executive of Cerro Novo, was more than happy with the success of the A Place in the Sun. Orka Homes officer Alan Orka was similarly pleased with the results, as the exhibit has paved the way for many bookings and reservations. He adds, “The market seems to be picking up.”
With growing interest from buyers, the exhibit is considered an immense success, according to Andrew Batt, International Group Editor for Property Guru. Batt adds that more and more English buyers are setting their sights on foreign real estates and properties. However, he finds it sad that only one company – Knght Knox - was present in the exhibit to seize the opportunity. Despite the fact that it was the lone representative from Southeast Asia, Knight Knox received tremendous attention from London-based investors, as well as those from other parts of the globe. For the exhibit, Knight Knox presented its real estate projects in the city of the Gulf of Thailand. Its projects in Pattaya, one of Thailand’s foremost tourist destinations, generated immense interest from English businessmen, as well as other investors.
Continuing Interest in Thailand
Apart from the British, other nationalities are greatly interested in Thai properties as well. This trend is not surprising, since the country’s GDP has increased to as much as 5.2%, with exports inflating to as much as 5.8%. The continuing interest of English investors in Thailand is driven by numerous factors, with one of them being affordability. The cost of living in the country is very inexpensive for retirees. It ranks first in overall experience by expats, according to a 2011 survey by Explorer Expats. As for businessmen, the country continues to be an attractive destination because of its inexpensive office space rentals ($29 million per annum) and affordable minimum wage rates of an average of $9 a day.
With another exhibit slated to take place on September 27-29, 2013, British investors are looking forward to receiving more developers from Southeast Asia, specifically Thailand, where there is increased interest in property investment.