Thailand’s most expensive condo opens Singapore and China offices

Foreign property investors looking for a piece of luxury in Thailand now have something new to look forward to. Thai developer Sansiri has partnered with Thailand’s mass transit operator BTS group to open international sales offices in Singapore and China, tapping on the influx of tourists in particular mainland Chinese in recent years.

Sansiri98WirelessPhoto credit: Sansiri

Their Singapore office opened at the Ocean Financial Centre 2 weeks ago and plans to open more in Shanghai and Beijing are already in the way. The venture hopes to increase sales from foreign buyers by 40 per cent. Though interest from Singapore investors have been rising, investment monies flowing into Thailand’s real estate sector from China has been limited. Sansiri currently has over 300 projects in Thailand and one in London.

BaseGardenSansiriPhoto credit: Sansiri

Their flagship condominium project, 98 Wireless, is touted as Thailand’s most expensive condominium development. 120 sq m two-bedroom apartment units are going for US$2 million. Though most Singaporean investors favour mass market condominiums in Thailand, Singapore is nevertheless a good base to indirectly steer attention from interest mainland Chinese parties temporarily residing or visiting the country to possible investment opportunities within the region. The developer says Singaporeans are more keen on rental yields and quick turnarounds. Their new partnership with the BTS group will also allow them a leverage in developing projects which build upon upcoming infrastructure.

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