Thai developers step up sales pitches as Hong Kong,China investors show increased interest
An increased interest for Thai properties from Hong Kong and mainland Chinese investors has compelled Thai developers to increase overseas road shows
With Hong Kong and mainland Chinese investors showing increasing interests in properties in neighbouring countries including Thailand, a popular travel destination, Thai developers have stepped up their sales pitch with more frequent overseas road shows.
Sansiri Public Company, one of the top three property developers in Thailand, has been capitalising on the uptrend, marketing new residential projects in Hong Kong almost every month.
The company said 100 units of a downtown Chiang Mai project that was marketed in June were snapped up within a weekend.
“Hong Kong is our biggest overseas market,” Sansiri president Srettha Thavisin told the South China Morning Post. “I think Hong Kong people like us because it’s [Thailand is] only a two-hour flight [away], and prices are much cheaper.”
Thavisin said Hong Kong had contributed 10 per cent, or HK$350 million to Sansiri’s total sales in the first half, while mainland China was their fastest growing market.
