Singapore Buyers Snap up Units at Magnolias Development in Bangkok
Magnolias Ratchadamri Boulevard, a mixed-use development offering 316 luxury residences on Ratchadamri Road in Bangkok, has noted a particular uptick in interest by buyers from the Lion State, Singapore.
Already one of the leading overseas markets for Thailand properties, changes in Singapore’s property landscape are driving up Singaporeans’ demand for luxury properties in Bangkok.
“Hong Kong is our biggest overseas market, followed by Singapore and China, each accounting for between 8- 10% of sales. Demand from Singapore is increasing at a much faster pace than China so Singaporeans could very well become our second largest customer group, representing up to 20% of total foreign buyers upon sales completion,” says Mr Thanawan Chaiwatana, Managing Director of Magnolia Finest Corporation, the developer of Magnolias Ratchadamri Boulevard.
Units at the tower range from 48 sqm one-bedroom sto 250 to 260 sqm penthouses. Construction is underway and on-track for completion at the end of 2014