EXCLUSIVE: The London love affair for London property from Thailand-based buyers remains as strong as ever.
This weekend has seen another U.K. property exhibition in Bangkok, with real estate firm JLL showcasing “White City Living” (pictured above) in West London.
The event continues today (Sunday, February 25) from 10am until 6pm at The St. Regis Hotel.
Speaking exclusively to ThailandProperty.News yesterday Widya Lestaluhu, the Singapore-based Head of Business Development (Southeast Asia), International Property Services, for JLL, said buyers from Thailand are buying, in part, for education reasons.
She explained how many Thai buyers of London property are looking for somewhere close to reputable education establishments, with the goal of sending their children to study in the U.K. capital in the future.
“White City Living” is being developed by St James, part of the prolific Berkeley Group, close to Imperial College.
Capital appreciation, and buying for their own use, is also high on their agenda.
Lestaluhu added that the thinking behind Thai buying decisions is different to those of Singapore buyers, who are mostly investing and focus predominantly on the financials.
This is JLL’s first Bangkok property exhibition featuring London property this year, but it will not be the last.
Plans are in place for up to one London property showcase each month for the rest of the year.
Thai buyers of London property in general, Lestaluhu explained, are mostly cash buyers and tend to take up to three months to arrive at their decision to buy. Most Thai buyers of already have investment properties in Bangkok and, for some, this is their first venture into London property.
This is in stark contrast to Singapore buyers, for example, where buying decisions are sometimes made in a matter of hours.
With Bangkok now firmly on the radar of British property developers, we can expect to see more London, and UK, property exhibitions in Thailand this year.
Prices for a 46 sqm studio unit at “White City Living” start from GBP 690,000. Only one such unit remained for sale when ThailandProperty.News attended the London property exhibition on Saturday morning.