JLL markets ‘iconic’ Frankfurt condo project for Thai buyers
JLL, a professional services firm specialising in real estate and investment management, is introducing Eden, one of Frankfurt’s iconic condominium development projects, to prospective buyers in Thailand, the company said.
The development marks the first residential project from Germany’s finance hub marketed in Thailand.
“Generally, most Thais looking for opportunities to invest in overseas residential properties show exceptional interest in the UK, the US and Japan,” said Napapat Wanitcharat, director of International Residential at JLL. “The marketing of Eden in Thailand will unveil to Thai investors the strong investment potential of Frankfurt’s residential market, another major safe haven for overseas investors.”
According to data from JLL, Frankfurt’s home prices have been on the rise for more than a decade and are likely to grow further as the city’s residential market has remained undersupplied. With about 736,000 residents, Frankfurt has a housing shortage of about 50,000 units and a very tight residential vacancy rate of 1.5 per cent.
“Buyers in Frankfurt’s residential market comprise both locals and foreigners who have purchased units for their own use or as an investment. Studios and one-bedroom units are most popular as the two types typically enjoy the healthiest rental demand in the vicinity of Frankfurt’s business district,” Napapat said.
According to the company, Eden has an exceptional location in the heart of Frankfurt, a variety of amenities and “spectacular” architectural design. The project has been developed by Immobel, one of the fastest growing property development firms in Europe.
Upon completion in 2021, the project will feature a 27-storey tower with 263 residential units of 30 square metres to 194sqm and priced between €358,200 (Bt12 million) and €3.13 million.
“Investors who purchase a unit at Eden and put it up for rent can expect investment yields ranging between 3 and 4 per cent per annum. However, most buyers place greater focus on potential capital gain in the long term as residential prices in Frankfurt are likely to rise due to limited supply,” Napapat said.
“With the current uncertainties in the world, coupled with more challenging conditions in Bangkok’s condominium market and a stronger baht currency, we expect Eden to be well received by Thai investors who are looking for new opportunities in less volatile markets such as Frankfurt,” she added.
