webfact Posted October 27, 2016 Share Posted October 27, 2016 Brexit Vote Triggering Thai Demand For Prime London Flats By Special to The Nation BANGKOK: -- IN ALL the uncertainty surrounding the impact of Brexit, a windfall of London’s property market has been the influx of Thai and other overseas buyers who are lured by the significant discounts that the market now offers with the depreciation of the pound. UK developers have always been keen on the Thai market and have promoted their projects here for three to four years. However, the market was not that active and the project choices were limited until the electorate voted in June for the UK to leave the European Union. UK developers are now capitalising on the current situation by becoming increasingly aggressive in overseas marketing. Full story: http://www.nationmultimedia.com/news/business/columns_management/30298530 -- © Copyright The Nation 2016-10-28 Link to comment Share on other sites More sharing options...
NongKhaiKid Posted October 27, 2016 Share Posted October 27, 2016 Patriotic, nationalistic Thais buying property overseas, well well ! I wonder who some of the intending buyers might be and I'd think there will be requests for anonymity ?. Many no doubt are those who would have a fit at the thought of a foreigner being allowed to own anything here. A little reciprocity wouldn't go amiss but then expect the Thais to howl about being discriminated against. Link to comment Share on other sites More sharing options...
Bluespunk Posted October 28, 2016 Share Posted October 28, 2016 2 hours ago, webfact said: UK developers are now capitalising on the current situation by becoming increasingly aggressive in overseas marketing. It'll end in tears... Link to comment Share on other sites More sharing options...
trogers Posted October 28, 2016 Share Posted October 28, 2016 5 minutes ago, Bluespunk said: It'll end in tears... Why? The London property market is facing a double whammy: falling property prices and cheaper exchange rates. Makes sense to buy into a downswing in a center of finance and education, rather than at the peak in one's own country... Link to comment Share on other sites More sharing options...
Bluespunk Posted October 28, 2016 Share Posted October 28, 2016 5 minutes ago, trogers said: Why? The London property market is facing a double whammy: falling property prices and cheaper exchange rates. Makes sense to buy into a downswing in a center of finance and education, rather than at the peak in one's own country... Much of the reasoning behind pro brexit voters was based in hate of immigrants and the ridiculous notions that they were "taking our jobs/homes/living off our benefits". How do you think those same voters will react to an influx of foreigners buying up property in a market where, despite falling prices, the same property remains out of the reach of many? Link to comment Share on other sites More sharing options...
whatproblem Posted October 28, 2016 Share Posted October 28, 2016 If they go to one of my businesses I will give a special Thai price ,just the same as we get here Link to comment Share on other sites More sharing options...
yellowboat Posted October 28, 2016 Share Posted October 28, 2016 2 hours ago, NongKhaiKid said: Patriotic, nationalistic Thais buying property overseas, well well ! I wonder who some of the intending buyers might be and I'd think there will be requests for anonymity ?. Many no doubt are those who would have a fit at the thought of a foreigner being allowed to own anything here. A little reciprocity wouldn't go amiss but then expect the Thais to howl about being discriminated against. Ah, the entitlement of the Thai superclass . Do they or the expensive private schools which educate their progeny ever get around to subjects like ethics or morals ? They just teach their children to blend in and demand anonymity when necessary. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted October 28, 2016 Share Posted October 28, 2016 27 minutes ago, yellowboat said: Ah, the entitlement of the Thai superclass . Do they or the expensive private schools which educate their progeny ever get around to subjects like ethics or morals ? They just teach their children to blend in and demand anonymity when necessary. I'm sure some schools do cover civics, civic responsibility etc but probably the Thai students are excused boots for those lessons. Link to comment Share on other sites More sharing options...
fvw53 Posted October 28, 2016 Share Posted October 28, 2016 A friend of mine who stayed in Thailand for 2 years had big problems to return 400.000 Baht to his account in Europe. Why is it then so easy for Thai buyers of property in London to get permission to export money? Link to comment Share on other sites More sharing options...
mikebell Posted October 28, 2016 Share Posted October 28, 2016 Name these buyers. Thaksin bought three UK mansions + one football club whilst I was denied buying a modest domicile on a housing estate in Thailand. How come there is no agreement with Thailand about frozen state pensions yet Thais can buy up UK properties. The UK Gov should make it an even playing field - you can't buy here if our ex-pats can't buy there. Link to comment Share on other sites More sharing options...
sungod Posted October 28, 2016 Share Posted October 28, 2016 (edited) Probably just not related to flats, it should be reciprocal, if we cant buy houses in Thailand, then Thais should not be able to buy in UK. However 'what problem' seems to have a work around for the time being. Edited October 28, 2016 by sungod Link to comment Share on other sites More sharing options...
Laughing Gravy Posted October 28, 2016 Share Posted October 28, 2016 4 hours ago, NongKhaiKid said: Patriotic, nationalistic Thais buying property overseas, well well ! I wonder who some of the intending buyers might be and I'd think there will be requests for anonymity ?. Many no doubt are those who would have a fit at the thought of a foreigner being allowed to own anything here. A little reciprocity wouldn't go amiss but then expect the Thais to howl about being discriminated against. I am fully in agreement with NKK and find it hypocrisy at the highest level. Funnily though how many Thais can afford 1.5 million pound? With all the immigrants living in London I can just imagine how the hi so Thais will view there newfound home in the city. Link to comment Share on other sites More sharing options...
trogers Posted October 28, 2016 Share Posted October 28, 2016 1 hour ago, Bluespunk said: Much of the reasoning behind pro brexit voters was based in hate of immigrants and the ridiculous notions that they were "taking our jobs/homes/living off our benefits". How do you think those same voters will react to an influx of foreigners buying up property in a market where, despite falling prices, the same property remains out of the reach of many? Blame the UK government in stopping the construction of public housing for the masses, like what Singapore does for its citizens. A free economy cannot stop investment in the private sector. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted October 28, 2016 Share Posted October 28, 2016 8 minutes ago, Laughing Gravy said: I am fully in agreement with NKK and find it hypocrisy at the highest level. Funnily though how many Thais can afford 1.5 million pound? With all the immigrants living in London I can just imagine how the hi so Thais will view there newfound home in the city. I wonder how many rich Thais keep overseas property, and bank accounts, as a bolt hole for the future in case the wheels come off their way of life here ? Link to comment Share on other sites More sharing options...
Jip99 Posted October 28, 2016 Share Posted October 28, 2016 2 minutes ago, NongKhaiKid said: I wonder how many rich Thais keep overseas property, and bank accounts, as a bolt hole for the future in case the wheels come off their way of life here ? I certainly know of one who bolted when his wheels came off here ! Maybe his sister will follow...................... Link to comment Share on other sites More sharing options...
Naam Posted October 28, 2016 Share Posted October 28, 2016 54 minutes ago, fvw53 said: A friend of mine who stayed in Thailand for 2 years had big problems to return 400.000 Baht to his account in Europe. Why is it then so easy for Thai buyers of property in London to get permission to export money? the Thais who buy London property are doing it by using their money in Hong Kong, Singapore and Switzerland. Link to comment Share on other sites More sharing options...
mike324 Posted October 28, 2016 Share Posted October 28, 2016 I was talking to a CBRE real estate director for a certain department regarding to how many Thai buyers actually buy property in UK. She said her company sells less than 10 units, there are around 3-4 properties being promoted each year in Thailand and they hold the events in hotels. If you compare to to foreign buyers buying expensive $1 million up properties in Thailand, it runs in the hundreds. Funny how an article makes people think that Thais are flocking to buy properties n the UK, the truth is that they are not. Link to comment Share on other sites More sharing options...
jonclark Posted October 28, 2016 Share Posted October 28, 2016 1 hour ago, mikebell said: The UK Gov should make it an even playing field - you can't buy here if our ex-pats can't buy there. I know a lot of expats get angry knowing that we can't buy houses here when some (and it is a small number - a few hundred perhaps) Thais can buy houses in the UK. Just satisfy yourself knowing that those house purchases are doing a lot to support the UK economy and the UK should gladly take the money of foreigners. Better the Thais invest their money in the UK economy than the Thai one correct. The fact we can't buy a house here is an economic opportunity lost by Thailand. Even more so when you see the huge number of new moo baans which are invariably half occupied with unsold units. Link to comment Share on other sites More sharing options...
Thailand Posted October 28, 2016 Share Posted October 28, 2016 Just doing the laundry. Link to comment Share on other sites More sharing options...
trogers Posted October 28, 2016 Share Posted October 28, 2016 2 hours ago, mike324 said: I was talking to a CBRE real estate director for a certain department regarding to how many Thai buyers actually buy property in UK. She said her company sells less than 10 units, there are around 3-4 properties being promoted each year in Thailand and they hold the events in hotels. If you compare to to foreign buyers buying expensive $1 million up properties in Thailand, it runs in the hundreds. Funny how an article makes people think that Thais are flocking to buy properties n the UK, the truth is that they are not. CBRE gets only get 5% market of purchases by Thais? Link to comment Share on other sites More sharing options...
elgordo38 Posted October 28, 2016 Share Posted October 28, 2016 3 hours ago, mikebell said: Name these buyers. Thaksin bought three UK mansions + one football club whilst I was denied buying a modest domicile on a housing estate in Thailand. How come there is no agreement with Thailand about frozen state pensions yet Thais can buy up UK properties. The UK Gov should make it an even playing field - you can't buy here if our ex-pats can't buy there. Do you really think your government cares a RAss about you? They foreign governments are profit prostitutes. They want incoming cash much like here. Governments around the world are back filling as fast as they can. Their main interest is stop the economy from tanking long enough to hit the cashiers cage on their way out. Link to comment Share on other sites More sharing options...
jacko45k Posted October 28, 2016 Share Posted October 28, 2016 5 hours ago, trogers said: Why? The London property market is facing a double whammy: falling property prices and cheaper exchange rates. Makes sense to buy into a downswing in a center of finance and education, rather than at the peak in one's own country... I can see that as a disadvantage to those already in this over-priced property market, but surely a cheaper Pound Sterling and falling prices can attract buyers who feel the currency will recover and due to the property shortages in the UK, the long term prospect for prices is up. Hopefully, one day the UK will be more flexible, and not require hard to obtain visas for Thai nationals and take better advantage of this rich and getting richer sector. I would just like to bring my partner over without having to dance through hoops. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted October 28, 2016 Share Posted October 28, 2016 Wonderful. Yet the Thais still fail to see the irony in the inability of British residents to buy property here on the same basis. Perhaps time for a hefty foreign ownership property tax in the U.K. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted October 28, 2016 Share Posted October 28, 2016 5 hours ago, trogers said: Why? The London property market is facing a double whammy: falling property prices and cheaper exchange rates. Makes sense to buy into a downswing in a center of finance and education, rather than at the peak in one's own country... What peak? Pricing in Thailand has no logic, so there is no peak, any more than there is a trough. Link to comment Share on other sites More sharing options...
RichardColeman Posted October 28, 2016 Share Posted October 28, 2016 I wonder if there would be such a boom if Thai nationals had to have such restrictions on actually owning the land as we do here. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted October 28, 2016 Share Posted October 28, 2016 3 hours ago, Laughing Gravy said: I am fully in agreement with NKK and find it hypocrisy at the highest level. Funnily though how many Thais can afford 1.5 million pound? With all the immigrants living in London I can just imagine how the hi so Thais will view there newfound home in the city. Hi so Thais will be just so so Thais in London. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted October 28, 2016 Share Posted October 28, 2016 3 hours ago, mike324 said: I was talking to a CBRE real estate director for a certain department regarding to how many Thai buyers actually buy property in UK. She said her company sells less than 10 units, there are around 3-4 properties being promoted each year in Thailand and they hold the events in hotels. If you compare to to foreign buyers buying expensive $1 million up properties in Thailand, it runs in the hundreds. Funny how an article makes people think that Thais are flocking to buy properties n the UK, the truth is that they are not. You're missing the point, which is the ability of Thais to freely buy property in the U.K. whilst we can't do the same in Thailand. Link to comment Share on other sites More sharing options...
HooHaa Posted October 28, 2016 Share Posted October 28, 2016 the irony is delicious, an influx of foreign investment as a result of what was primarily a xenophobic vote. Link to comment Share on other sites More sharing options...
Ace of Pop Posted October 28, 2016 Share Posted October 28, 2016 Nissan Renault to open new factory in the U.K.Sent from my iPhone using Thaivisa Connect Link to comment Share on other sites More sharing options...
mike324 Posted October 28, 2016 Share Posted October 28, 2016 18 minutes ago, Jonmarleesco said: You're missing the point, which is the ability of Thais to freely buy property in the U.K. whilst we can't do the same in Thailand. I did not miss the point, I understand what people are talking about. I also understand the concerns of Thais being afraid foreigners will own a lot of land in Thailand given how cheap land is in some places. Link to comment Share on other sites More sharing options...
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