Thailand’s second largest property developer by number of sales has revealed its plans to attract Japanese investors to Bangkok this year who are in search of higher-yielding assets that those they can obtain from their home market.
Uthai Uthaisangsuk, Senior Executive Vice President of listed developer Sansiri, said the demand for Thai property is strong. In an interview with Bloomberg he said his firm plans to boost sales in Japan this year to US$10 million, up from US$2 million last year earlier, and about 7 percent of its overseas target for the year.
“I think Japanese love to have yield,” Uthaisangsuk said in an interview in Tokyo this month.
“Thai property offers the chance to appreciate, and while you’re waiting for the appreciation, you’ve got the yield.”
Sansiri is certainly no stranger to touting its Bangkok property projects overseas, having held road shows in Singapore, Malaysia, Hong Kong and Taiwan in recent months. It is the most prolific Thai developer when it comes to exhibiting its developments overseas.
Uthai said property investments in Thailand yield between 5 percent and 8 percent. Units at Sansiri’s latest development, near the business district in Thailand’s capital, are priced from about 19 million yen (US$174,000) upwards to 44 million yen.
“Japan has negative interest rates and people keep their money as cash,” Uthai added.
“Why not invest in Thailand?”
Image: A recent Sansiri property exhibition for one of its popular Bangkok developments.
