Luxury residential developments in London promoted

Speaking at a press conference on Wednesday, James Puddle, head of International Residential for JLL in Southeast Asia, stated that the new agreement with Richmont’s is perfectly timed for Thai property investors looking for UK assets.

“Our connections in the UK offer Thai buyers a wide range of property types and price points. Our partners in the UK are professional developers who provide excellent investments for Thai investors looking to diversify their portfolios,” he said.

Puddle then emphasised that London properties attract buyers from all over the world due to low global interest rates and a shortage of supply in the city. He also stated that housing development activity in London has dropped to its lowest level since 2010.

"Our forecast suggests that rental prices in Central London will increase by 4.5% and in Greater London by 5% in 2024. Looking ahead, we anticipate average annual rental growth of 4% in Central London and 3.9% in Greater London from 2024 to 2028," he noted.

Tim Skevington, managing director of Richmont Thailand, echoed Puddle’s words, saying that the collaboration with JLL’s International Residential business represents an excellent opportunity for the company to broaden its services and provide established channels of expertise in the UK property market to its Thai clients.

“Together with JLL, we can offer Thai buyers dedicated assistance throughout the purchase and management process, with experienced customer service staff in both London and Bangkok,” he noted.
 

Meanwhile, he expressed confidence that the UK properties being shown to Thai clients are acceptable. He stated that the price point of £350,000 (approximately 15 million baht) per unit in Greater London introduces a new segment to Thai buyers, who typically purchase properties priced at £1 million or more. 

Furthermore, when compared to many condo units of similar size in prime Bangkok areas such as Sukhumvit and Thorg Lor, he noted that the prices in London tend to rent out faster and offer higher yields than those in Bangkok.

The comprehensive collaboration agreement covers the sale and marketing of overseas residential properties in Thailand. It also includes sales of Thai developments introduced by Richmont through JLL’s International Residential sales network, primarily in Southeast Asian markets.

Barratt Developments, the UK’s largest home builder, has appointed JLL’s International Residential business as its exclusive international sales agency in Southeast Asia. Barratt London is a well-known developer with over 50 years of experience in the capital. According to the new collaboration agreement, Richmont’s will now be part of this mandate locally in Thailand, giving Thai buyers a direct channel to invest in the United Kingdom.

In addition to JLL’s lead agency mandate from Barratt London, JLL and Richmont’s collaboration provides Thai investors with a diverse portfolio of high-quality residential projects from developers in London and the rest of the UK, as well as other global investment markets such as Australia, Dubai, and Japan.

To entice potential Thai buyers, JLL and Richmont have showcased some of their new development opportunities from their portfolio.

Featured developments include:

• Ebury, Westminster, London SW1: This vibrant residential destination offers exclusive apartments and duplexes in the heart of Belgravia, Chelsea, and Westminster. Prices start at £885,000 (around 38.9 billion baht).
• Paddington Gardens, Paddington Basin, London, W1: This 20-storey development offers residents facilities such as a 24-hour concierge, a resident’s lounge, landscaped gardens, and secure parking. Prices start at £825,000 (around 36.3 biliion baht).
• The Founding, Canada Water, London: This new and sustainable district in central London offers studio, one, two, and three-bedroom apartments. Prices start from £704,000 (around 31 billion baht).

Barratt London provides a diverse portfolio of property developments that appeal to Thai investors, including families looking to establish a base in London and investors looking to diversify their property portfolio. JLL and Richmont’s will regularly showcase Barratt London projects in Thailand, with launch events scheduled both this month and next.