Thai buyers of British housing are surging
Property consultant Knight Frank Thailand expects a surge of more than 40% in sales of British real estate to Thai buyers, tallying 1 billion baht, with investors and currency the main factors.
Frank Khan, executive director and head of residential, said there was a notable rise in the number of Thai investors buying UK property last year, accounting for 20% of the total transactions it closed.
“In previous years, nearly 100% of Thais who purchased properties in the UK through us did so for accommodation for their children while they studied. Starting last year, we had Thai investors who bought four apartment units specifically for rental purposes,” he said.
In 2022, Knight Frank closed sales of 15 properties in the UK worth 700 million baht from Thais, up from five units worth 300 million in 2021.
“The strength of the baht against the pound is attracting Thai investors to the UK property market, with rental yields ranging from 2.5% to 2.8% per year and annual capital gains of 12% to 15%,” said Mr Khan.
Last year the purchasing budget per unit increased to £2-6.5 million, up from £1.2-1.5 million in 2021. The four units bought for rent were priced between £2.5-3 million, he said.
Central London locations such as Kensington and Holland Park remained popular among parents seeking properties close to universities.
Source: Bangkok Post
