Despite last month’s coup in Thailand, many investment analysts, amongst them Colliers CRE, are confirming there has not been a fall in property demand in Thailand. In fact the property market still looks sound, and the Thai interim government is intent on keeping the property sector buoyant.
Fund managers are reinforcing general views of economic stability, good exports and the fact that the coup was merely a result of short-term volatility. Banluesak Pussarangsri, director of Bangkok Bank’s Macro-economy Analysis Centre, draws attention to the fact that the currency and economy have actually stood up well in the face of recent events and states the Thai economy is expected to continue growth at approx. 4.5% this year. Meanwhile, many shrewd property investors are using the aftermath as an opportunity to buy in at better prices.
Thailand’s new Suvarnabhumi Airport is preparing to open soon and it is expected this will transform Pattaya and its surroundings into a family resort area. Developers are buying up land to build quality hotels and shopping malls etc. and it is believed Pattaya will transform over the next five to 10 years. Other hotspots are currently in areas near the airport at Hua Hin, and Phuket, where tourism remains strong and well able to keep the property sector buoyant.
