The British pound, which was the lowest in 20 months against the baht, might draw more wealthy Thais to purchase London properties, according to property consultant Knight Frank Thailand.
Frank Khan, the consultant's executive director, head of residential, said the British pound had dropped by 12.7% from 47 baht in August last year to 42 baht at the moment.
"The British pound is very weak, luring Thai high-net-worth individuals who plan to send their kids to study in the UK to make a decision," he said.
"Some Thai parents bought a unit in London for their children during their study in high school and could make a profit when the kids finished college. That profit can compensate for the whole tuition fee," Mr Khan added.
During the first seven months of the year, Knight Frank Thailand recorded sales of nine residential units in London to Thai buyers worth a combined £75 million (3.23 billion baht).
The British pound to the baht in January was 45 baht and dropped to 42 baht in May.
The consultant also sold an office tower in the UK worth £225 million to a Thai investor, Mr Khan said.
According to Knight Frank's research, overall property prices in London rose 9.2% in July 2022, compared to the same period last year.
The average price of a London residential unit was £543,547 per unit.
In prime central London, property prices increased 2.4% in May, the highest rate of annual growth since April 2015, as London remained the top destination for global investors.
The firm forecast a growth of 25% in the prices of properties in prime central London over the next five years.
Last week, Knight Frank Thailand organised a roadshow of Park Modern, a nine-storey residential project in London worth £500 million to buyers in Thailand, the first destination in Asia, before going to Singapore and Malaysia.
"Buying for rent is also attractive at the moment as rental rates in August recovered with a rise of 19.9% in prime central London and an increase of 15.2% in outer London areas, the highest since Covid-19," said Mr Khan.
