Date: 22 February 2017
Company Names: Prime International Properties and Areeya Property Public Company Limited
On 22 February 2017, Prime International Properties, a Malaysia-based international property consultancy signed a partnership agreement with Areeya to market Thailand’s property to property investors in Malaysia.
Although Thailand is still classified as a developing nation, it is a potential market entering the big stage with attractive opportunities. With the future railway from Kunming, China leading down south to Bangkok, as well as the future canal increasing the city’s already existing multiple channels of logistics, there may be a foreseeable influx of investors from Greater China, Malaysia and Singapore once these countries are connected.
“Despite the softer ringgit and other negative external factors, interest in buying offshore real estate is a booming market here in Malaysia,” said Nicole Tan, Senior Manager, Business Development and Marketing for Prime International Properties at the press conference held at A Space ID Asoke-Ratchada in Bangkok by Areeya Property, Thailand’s leading property developer.
She also pointed out that buying a property abroad is a good strategy to diversify the investment portfolio and believe that Thailand’s property market will show an average growth of between five to 10 per cent a year from 2017 to 2020, which will benefit Malaysian investors who are interested in buying overseas properties.
“Thai real estate is one of the most reliable growing markets in the world. Prices show continued growth year on year, across all sectors of the market: condominiums have posted between five and 12 per cent annual price growth every year since 2008, with no sign of slowing down. Even luxury properties (above USD300,000 or around 10 million baht)—a previously sluggish segment of the market—are showing growth and attracting foreign investment dollars for the first time since 2013,” said Wisit Laohapoonrungsee, CEO of Areeya Property at the launch.
The Thai real estate market’s greatest strength is its tried-and-tested resilience. Property demand and land values have rebounded from multiple crises over the past three years. The market has weathered everything from a major political upheaval to tragic events, and came out stronger. That ability to bounce back is a rare and attractive quality to the savvy investor. For more information on the property, visit www.primeprop.co or email [email protected].