Thai business people spend ten billion baht on London investments | 29 October 2012
Thai investors are increasingly buying residential and commercial properties in London, bangkokpost.com reports.
In the last year, according to financial services firm, Asia Plus Securities (APS), Thai investors have spent in the region of ten billion baht on acquiring properties in the English capital.
London has emerged as one of the ‘prime locations for foreign investors’, in preference to many other continental European cities whose property prices have been affected by the financial crisis. Asia Plus Securities’ chief executive Kongkiat Opaswongkarn said that investors are wary of the fluctuating asset values, complex property regulations and ongoing uncertainty of the Euro-zone countries.
London’s properties, conversely, have remained highly priced but Asian businessmen are willing to invest in them as they offer a ‘distinctive quality that attracts buyers from all over the world’.
Dr Kongiat told silobreaker.com: “Even with asset prices in Britain remaining high, buyers are willing to pay. Asian businessmen, especially from the Middle East, are buying London assets mainly and not those in the rest of Europe.”
According to latest research, Thai investors are not only buying residential properties but hotels and businesses within the health care, media, construction and automotive industries. Asia Plus Securities says that business people from right across the Association of Southeast Asian Nations are taking the opportunity to invest in such foreign assets.
Written by Elizabeth Smythe on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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