Buoyed by foreign interest in its Thai property projects amid burgeoning tourist arrivals, Thai property developer Sansiri is expanding internationally with its sale pitch of a vacation home that will also attract rental yields.
"(Rental) yield is quite high at 5-8 percent, which is attracting investors from Singapore, Hong Kong and mainland China. In a way, our property prices (in Thailand) are quite low compared to the rest of the region," said the company's CEO and co-founder, Apichart Chutrakul.
Sansiri is aiming to sell THB7,500 million ($212 million) of property to foreign buyers this year, a 40 percent increase over THB5,400 million ($153 million) last year. In 2016, foreign sales grew 55 percent from a year ago. Some 84 percent of its foreign buyers last year were Asians from Hong Kong, Singapore, Malaysia, Japan, mainland China and Taiwan, the company said in an announcement in January.
This year, the Thai developer is planning to launch 19 projects worth THB41,200 million ($1.2 billion). Of these, nine will be launched at roadshows in Asia.