By Romesh Navaratnarajah:More buyers from Asia are snapping up luxury residences in Thailand, pointing to a vibrant property market in one of the region's most popular holiday destinations.
"Around 60 percent of our property purchases come from Asian buyers," said James Knowles, Vice President for Sales and Marketing at Minor International PCL, a leading hotels and mixed-use developer in Thailand. Leveraging on the strong demand for high-end units, the firm will be organising a property exhibition this weekend (17 – 18 November) at the St. Regis Hotel, Singapore.
According to Knowles, a growing number of Singapore visitors staying at their hotels are making property enquiries and taking part in viewings. Property hotspots in the country include Bangkok, Phuket, Koh Samui and Chiang Mai.
At its exhibition this weekend, Minor International will be showcasing three luxurious developments – The Residences at The St. Regis Bangkok, The Estates Samui adjacent to the Four Seasons Resort in Koh Samui and The Residences at Four Seasons Resort Chiang Mai.
For instance, The Residences at The St. Regis Bangkok (pictured) is located on the top 20 floors of a 45-storey building and features 53 private residences ranging from 325 to 920 sq m. Units comprise three- and four-bedders, deluxe penthouses and duplex penthouses with private pools.
For all three developments, buyers will get to enjoy 24-hour hotel services such as room, laundry and butler services as well as hotel facilities.
It is expected that these properties will draw strong interest from buyers in Singapore given their limited number and competitive pricing. Knowles stated that a similar development in the city-state could cost five times more.
Meanwhile, Thailand's property market remains robust, with hotel occupancies up and the economy virtually stable. As such, Minor International will look to develop three new properties next year as part of plans to grow its real estate business. Related Stories: Myanmar's tallest building taking shape
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