Knight Frank Thailand has launched its International Project Marketing Service (IPM). Mr. Frank Khan, the company’s Executive Director and Head of Residential Department, explains, “IPM service exposes the major developments to Asia Pacific buyers through exhibitions. We help bring the developer’s project to a potential customer base abroad and connect a large number of international property buyers and investors to the developers. We also feature roadshow events, marketing strategies, consultation and market advisors. In particular, via a variety of our world-wide connections, clients can be confident of professional marketing teams that will bring developers’ residential project highlights to prime property markets: Hong Kong, Singapore, Malaysia and China. This One-Stop Service also facilitates and makes the foreign direct investment procedures as well as investment-related services convenient for investors.”
The IPM team is led by Mr. Frank Khan, Executive Director and Head of Residential Department, Knight Frank Thailand, and Mr. Marciano Birjmohun, Associate Director of International Project Marketing.
Mr. Frank Khan added that “investment in Thailand gains the most benefits from the capital gain tax, as Thailand ’s property tax level is one of the lowest in South-East Asia. Also, stamp duties and transfer fees for new properties are partially absorbed by the developers”
Recently, the team unveiled their latest residential project, Niche MONO Sukhumvit-Bearing, overseas, specifically, in Hong Kong. Within the first week of pre-sales, took up 50 per cent of allocated floor; most of which bought for a long-term investment. This attests to the project’s appealing area with panoramic views, extensive facility range and compelling living spaces.
Mr. Marciano Birjmohun, Associate Director of International Project Marketing, Knight Frank Thailand, says, “Hong Kong has become a lucrative but also competitive market for Thai developers especially those with projects in Greater Sukhumvit. Nevertheless the buyers seem to prefer high-rise developments and units larger than 31 s.q.m. Having a public developer with a track record as partner definitely made the sales decision easier.” The response to the IPM service in Hong Kong has been positive, which triggered interest for Singapore, Malaysia and China.
In terms of relative affordability, Hong Kong investors are seeking to diversify their investments into real estate; however, the excessive property prices of their home market are growing exponentially. Condos in Bangkok are thus hitting attractive price points, especially when compared to equivalent housing back in Hong Kong.
All corners of Bangkok, including the peripheral areas, are undergoing urban transformation from the large-scale mass transit extensions, as well as the launch of megaprojects (i.e. Bang Sue Grand Central Station, Bangkok Mall, One Bangkok, etc.). These developments are proving to be an attractive selling point for Hong Kong investors who generally aim to hold their investments for a minimum period of 3-5 years. In that time, many are expecting attractive capital appreciation returns complemented by stable rental yields during their ownership tenure.
With frequent low-cost flights and short travel time, travelling from Hong Kong to Bangkok is a seamless affair. This convenience, combined with the attractive and affordable lifestyle of Bangkok, is also stimulating Hong Kong buyers to consider the potential of owning a second home.
On buyers from elsewhere in the region, Mr.Marciano Birjmohun added, “Despite the devaluated ringgit, Malaysia remains a major playground, and we have strategized a series of educational sales events to offer support to buyers. We know from experience that Malaysian investors prefer to leverage on a mortgage.
Many of our projects have an attractive price tag, which makes it easy for Mainland China to transfer funds without restrictions. We, at Knight Frank, are a regulated body and make sure that the client and developers will have a pleasant experience.”
IPM has lined up a series of events in the capital markets of Asia, pioneering and expending the IPM services for public developers.
