Offshore property alliance

Plus Property says the partnership will offer its Thai customers high-value investment options in the cities of New York and London – made especially attractive by the fact that New York properties are now enjoying their fifth consecutive year of rising prices and high occupancy rates.

Managing director Poomipak Julmanichoti said that over the past few years, Thai and other Asian investors had been consistently investing in overseas properties and businesses. With regard to risk management, overseas property provides a dependable opportunity, which has motivated Thai investors to pick up assets in prime locations of major cities, with New York and London enjoying particularly high interest.

Thai customers who acquire properties in those two cities are often people with children studying in the US or Britain.

Some, however, are simply looking for an attractive, comfortable place to live, while others are investing in property for future profit and risk management in the homelands of strong international currencies.

In the Manhattan borough of New York City, condominium prices have risen for five straight years, with current prices 40 per cent higher than they were in 2010.

Properties in that market may take just three months to sell out, and the leasing market remains consistently lively with just 1.65 per cent of available units unoccupied. On average, rooms for lease take just 41 days to find a tenant, Poomipak saud.

International investments present many interesting opportunities. Today, Asian investors are looking for opportunities to generate favourable returns through overseas properties.

Over the last four or five years, Plus Property and parent company Sansiri have been studying the overseas market for potential investment opportunities, which culminated in the recent success of Sansiri’s 9 Elvaston Place in London.

Plus Property says its partnership with these two leading brokers will see the company offer customers assistance with purchasing condominium units in all projects in these markets, not just those owned by Sansiri.