Bangkok--15 Oct--Francom Asia
Luxury developer Raimon Land is attending Russian Fashion Week (RFW) in Moscow for the first time to present the company’s exclusive projects in Thailand to the rapidly growing Eastern European market.
RFW, a biannual event now in its seventh year, is the largest fashion week in Eastern Europe, with 40,000 highly targeted invitation-only guests attending the eight-day event from October 28 to November 4 at Moscow’s World Trade Centre.
Raimon Land Chief Executive Officer, Nigel Cornick, said RFW provides the perfect platform to showcase the company’s high-end projects in Thailand to wealthy buyers from Russia and CIS markets, which last year purchased THB426 million in real estate from Raimon Land.
“What Russians and Eastern Europeans are increasingly finding is that Thailand offers an excellent investment landscape for luxury property, as purchases provide strong long-term capital gains and rental yields at destinations delivering great tropical resort lifestyles,” Mr Cornick said.
Sales since 2006 reveal Russians and CIS residents purchased THB745 million worth of real estate from Raimon Land. Of the total Raimon Land units purchased by Russians, 60% are studios and one-bedroom units, 23% have two bedrooms and 17% have three bedrooms. The majority of these units are priced under THB8 million (53%), while 19% spend more than THB15 million.
The number of Eastern Europeans visiting Thailand has soared in recent years, jumping 65% in 2006 and another 45% in 2007, when 410,000 arrived, 280,000 of who were Russians.
Tourism numbers are closely linked to foreign demand for residential property, and the Raimon Land’s 2007 sales list shows Russians accounting for 23% of all condominium purchases from the company.
The destination choice for Russian and CIS buyers also aligns closely with those of their preferred destinations in Thailand, with 63% purchasing properties in Pattaya, 28% in Phuket and 9% in Bangkok.
PRESS ENQUIRIES :
Walaiklao Kumwong
Raimon Land Public Relations
C/O Francom Asia
Tel: 02 233 4338 or 39
Fax: 02 236 8030
E-mail: [email protected]
Kwanrudee Maneewongwatthana
Senior Vice President Communications
Raimon Land PLC
22nd Floor, The Millennia Tower
62 Langsuan Road, Pathumwan,
Bangkok 10330
Tel : +66 (0) 2651-9600 to 4 Fax : +66 (0) 2651-9614
E-mail : [email protected]