Prime International likes Bangkok for its potential

Prime International Properties (PIP) has identified Bangkok as a new market with big potential as real estate in the city yield high returns for investors.

Prime, which has presence in eight countries worldwide, helps investors buy properties that are developed or owned by it abroad.

The company buys properties in Thailand to sell to investors while in Japan and the United Kingdom, it partners with local firms to develop projects and sell them to foreign investors.

Its strategic investment sales manager Kenneth Lau said Bangkok is gaining attention from real estate investors for providing high returns.

He said the value of property in the capital of Thailand is supported by its popularity as one of the world’s top tourist destinations, with more than 30 million tourists annually.

Lau said Bangkok’s property is still more affordable than that of Australia, the UK, the United States and Singapore — among Malaysians’ preferred investment destinations in the past.

“The Thai government’s open policy towards real estate buyers from abroad also made property ownership easier in the country.

“Economic factors such as the government’s promotion for foreign direct investment and various developments of infrastructure, such as rail systems, economic corridors, airports, ports, highways and transport hubs, also boosted the value of real estate in Bangkok,” he told the New

Straits Times in an interview recently.

Lau said announcements of mega projects, such as high-speed rail and the East Coast Economic Corridor, and its position at the centre of Asean also attracted investors.

Besides Bangkok, Osaka in Japan, which is known for its public transport sophistication, also offers high potential for real estate investment.

Lau said Osaka receives about 30 million tourists a year, partly due to its comprehensive public infrastructure and unique culture.