How long have you been living in Hong Kong? I have been fortunate enough to live in Asia for 24 years spending most of my time between Hong Kong and Bangkok with regular trips back to Britain, which is where I was raised. I have worked in every major country in Asia and, although I am a permanent resident of Hong Kong, I have a strong affinity with Thailand where I fly to most weekends.
How long have you been investing in property in Thailand? I have been actively investing since the property market in Thailand emerged from the Asian financial crisis in 2003. I speak Thai and have deep feelings for the country and see it as a wonderful place for investing in upmarket condominium projects, as long as you select the right developer to go with. You need to be assured of the quality of the finished product and they can walk you through the purchasing process, which can be a little tricky until you learn to follow all of the regulations an international investor must follow there.
Why do you consider Thailand a good investment? Thailand real estate is extremely undervalued when you consider other regional countries and weigh up the cost of living and quality of life. I also don't believe you can put a price on the amazing quality of life you can have in Thailand, compared with Hong Kong. But Hong Kong does have other advantages. The potential for capital gains on investment properties in Thailand exceeds Hong Kong and Singapore and the rental yields can be attractive if you choose properties that appeal to the more affluent expatriate rental market.
How did you select your property investments in Thailand? As with most investments in property, I feel that you must be able to either inspect the property or, if you are buying off-plan, have confidence in the developer being able to deliver on their promise. There are a lot of developments coming online in Thailand, especially in coastal areas, so there are many developers to choose from. But, once again, I stress that you must go with a company you are confident of and one that has a strong track record in delivering on promises.
Why did you select Raimon Land developments for your investment? Raimon Land meets my criteria in having confidence in the company and the track record it has with its finished products. I bought at The Legend because it is close to Bangkok's financial district which attracts higher rental returns from international business people looking for quality apartments in that area. The Lakes in Bangkok and Northshore in Pattaya were tremendous value at a time when there was little quality stock available in these cities. All three, I believe, have been sound investment choices.
How important is it to select the right property developer? I rely on the developer's track record. One needs assurance that the developer can finance the project through to completion, manage the construction quality to the specifications provided and transfer the unit on time. It is not rocket science, but you have to be able to implicitly trust who you are dealing with.