Wed Sep 18 23:07:00 UTC 2024: ## London Properties Lure Thai Investors Amid Quiet Bangkok Market

**Bangkok, Thailand** – Richmont’s Thailand and Jones Lang LaSalle (JLL) are introducing London properties priced from 15 million baht (approximately £350,000) to attract Thai investors, targeting a new segment of buyers who are seeking more affordable options than the traditional high-end properties. This move comes amid a subdued Bangkok condo market.

Tim Skevington, managing director of Richmont’s Thailand, said the price point represents an attractive entry point for Thai investors who typically spend over £1 million on London properties. Despite the lower price, these 45-square-meter units in Greater London are comparable in size or even larger than many condos in prime Bangkok areas like Thong Lor. Moreover, London properties are known for their faster rental rates and higher yields, making them a potentially more lucrative investment.

James Puddle, head of international residential for JLL in Southeast Asia, attributes the growing appeal of London properties to low global interest rates and a shortage of supply in the city. Housing development activity in London has reached its lowest level since 2010, leading to a projected rental growth of 4.5% in Central London and 5% in Greater London for 2024.

Richmont’s Thailand and JLL, the exclusive international sales agency for UK developer Barratt Developments, have signed a collaboration agreement to facilitate the sale and marketing of these London properties in Thailand. The agreement also extends to sales of Thai developments through JLL’s network, particularly in Southeast Asian markets.

Richmont’s Thailand will introduce two Barratt Developments projects to Thai buyers: the luxury Ebury project in Westminster with starting prices of £885,000 (38,919,708 baht), and the Eastman Village in North London featuring affordable 45-square-meter units priced from £350,000 (15 million baht).

While the Thai property market has experienced a recent lull, Richmont’s remains optimistic about its future. The company aims to achieve sales of 750 million baht from 30 overseas properties purchased by Thai buyers by the second quarter of 2025. In 2021-2023, Richmont’s sold overseas properties worth 4.7 billion baht to Thai buyers, with 69% of those sales coming from units priced over 30 million baht and 31% from units priced below 30 million baht.

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