Enticing Singaporeans to buy Thai property

  • AseanPlus News
  • Monday, 31 Jan 2005

SINGAPORE: Thai property developers held an unprecedented exhibition in the city-state to entice Singaporeans into buying property in Thailand, convinced that the recent tsunami havoc would not dampen long-term sentiment. 

Properties in the mid to high-end markets in cities such as Bangkok, Pattaya and even Phuket, which was particularly hard hit by the Dec 26 onslaught, were featured at the three-day event. 

An estimated 400,000 Singaporeans visited Thailand last year, a perennial holiday favourite. 

Developers told The Business Times that they believed Thailand's high yields could attract those thinking of investing. 

Chen Lian Pang, chief executive of TCC Capital Land, said the stable political climate in Thailand with next month's expected re-election of Prime Minister Thaksin Shinawatra could help keep a property boom going. 

The company, a joint venture between Thailand's TOC Land and Singapore's Capital Land, maintains that a condominium project it is developing in Bangkok could garner rental yields of 5% to 6% a year. 

The exhibition, which started on Friday, had a small but steady stream of visitors. 

“I believe that property prices in Thailand are on the upgrade, and it could make for good investment,” Richard Ng, a sales manager, was quoted as saying. 

The developers said they did not expect to sell many units at the exhibition but wanted to create awareness and stoke interest. – dpa 

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