Soho Properties set to become King Sturges' sole agent in Thailand

According to property sources in the UK, there are an increasing number of Asian investors looking to purchase property in the UK. Due to the drop in property prices and the large increase in some Asian currencies against the pound, it makes them mor
By: Sohoprop
 
Sept. 18, 2009 - PRLog -- According to property sources in the UK, there are an increasing number of Asian investors looking to purchase property in the UK. Due to the drop in property prices and the large increase in some Asian currencies against the pound, it makes them more affordable and a sound investment.

According to the Guardian newspaper, the Nationwide has said house prices rose by 1.6% in August 2009: "The chief reason why house prices have not fallen by as much as many of us expected is that, unlike the early 1990s, interest rates are extraordinarily low. At the same time, banks are being more cautious about repossessions, because it's the people who now own the banks."

It seems that one of the main reasons house prices are rising again is that mortgage lending has not been extended to investors without significant deposits. The average price of a home is now £160,224 (nearly 9m baht), or 14.4% below the October 2007 peak. The Nationwide said a key factor in lifting prices was "the exceptionally low level of interest rates", which have been kept at 0.5%.

Gary Smith, president of the National Association of Estate Agents, said: "The latest statistics from Nationwide appear to confirm that the housing market has finally bottomed out and indications are that we are hopefully moving to a point where the gradual recovery in prices witnessed this year will be sustained.

"With interest rates at historically low levels and unemployment on the rise, but when interest rates start to normalise, it could possibly result in a surge of properties coming onto the market as people are forced to sell. This, in turn, would mean that as higher interest rates emerge, finance will become more expensive, which will reduce demand and again apply downward pressure on prices."

King Sturge, a leading supplier of property services in the UK industrial, office, retail, hotels and leisure, healthcare and residential sectors, are experts in residential land and mixed-use developments and also offer a complete range of financial services to the property sector

King Sturge is the market leader in holding exhibitions across Asia to attract property buyers into the UK market. The team has a combined experience in excess of 45 years and counts all of London's major housebuilders amongst its clients.  

According to James Talbot, a partner in the firm: "We continue to hold successful exhibitions in Hong Kong, Singapore and Kuala Lumpur. We are also holding seminars on buying property in London. Since April this year we have sold in excess of £130m worth of London property to Asian buyers." Due to the rising demand of London properties with Asian buyers, they have also started to look at other not so traditional areas. One of these areas is Thailand, where they have screened a number of local and International agents and have decided to team up with Soho Properties due to their in-depth local knowledge and enthusiasm.

According to Managing Director of Soho Properties Chris Heath: "As recently as October 2007 the Thai baht was worth seventy-three baht to the pound, today we have seen the baht grow in strength and the rate is currently 54 baht. This in turn has seen increased purchasing power for Thai buyers providing an excellent opportunity to invest in  a world City like London, a  city which has a foreigner-friendly policy including no capital gains tax, buying restrictions or selling restrictions.

As such, Soho Properties and King Sturge have agreed to work on London property exhibitions on an exclusive basis in Thailand. They have some exciting projects lined up for 2010, including a project by the well-respected UK property developers Berkeley Homes'  No1 Tower Bridge Road, which lies next to City Hall on the south of the River Thames adjacent to Tower Bridge and opposite the Tower of London — and in their opinion "the best residential developments to come to market for many years and undoubtedly likely to receive a huge international demand, particularly given  such a world famous address and location."

# # #

Soho Properties is a leading Bangkok property real estate agent and location specialist, offering a first-class service for all your property-related needs.
http://www.soho-properties.com
http://www.soho-properties.com/londonapartments.php
End
Source:Sohoprop
Email:***@soho-properties.com
Zip:10110
Tags:London Property, Bangkok Property, Real Estate, Thailand, S E Asia, Homes, Houses, Condos
Industry:Real Estate, Property, Financial
Location:Bangkok - Thailand
Account Phone Number Verified     Disclaimer     Report Abuse
Soho Properties PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share