Bangkok property exhibitions and seminars featuring UK property investments have never been more prolific than now.
This month alone we have seen marketing for six separate British property exhibitions, with prices ranging from less than THB 8 million to upwards of THB 100 million.
In December 2017 we predicted a 100 percent chance of an increase in the number of overseas property exhibitions happening in Bangkok, and that’s certainly been the case already.
Several British developers have set up offices in Bangkok since the start of 2018, largely on the back of fewer buyers of their projects in the popular Asian property exhibition destinations of Singapore and Hong Kong.
The strength of the Thai baht combined with the weakness of the British pound is a good thing for buyers and investors right now.
Taking a GBP 800,000 property, on April 25 (the day the featured the ‘worst’ exchange rate) that property would have cost the equivalent THB 35.81 million. That same property would have cost just THB 33.49 million on August 25 when exchange rates were the best during the last six months for Thais.
That’s quite a substantial saving, but it’s not all good news for buyers and investors in UK property.
Last month saw the biggest fall in UK average house prices for six years, driven mostly by declines in London property.
According to Britain’s largest building society, prices on an annual basis are still growing by an average of 2 percent and the average UK house price now stands at GBP 214,745 (THB 9.03 million).
Essentially that means almost all properties being showcased in Bangkok are priced higher than the UK national average.
Many UK property watchers are also suggesting that the property market will remain weak until early next year, and until after the ongoing Brexit negotiations are concluded – scheduled to be at the end of March 2019.
Investing in UK property is far more than just central London, which make up the vast majority of Bangkok property exhibitions.
Investors also need to understand the country, not only in terms of its diverse property markets but also in terms of economic and political issues that have the ability to impact their investments – both positively and negatively.