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PHUKET REAL ESTATE Rampaging Thai Baht Adds to Woes

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Posted: 27 Jan 2010 | 6:00 am

A strengthening Thai Baht is creating a negative factor for foreign property buyers of resort grade real estate in Phuket. As the currency has appreciated against the US dollar and broken the exchange rate barrier of THB 32 other key buy currencies such as the UK pound sterling continue to flounder on sluggish economic recovery concerns.

Added into the mix is that a skyrocketing secondary market in terms of listings and supply is now cutting heavily into developers off plan or partially completed unit sales. For many earlier buyers, there is now an added incentive to sell based on Thai Baht prices as they look to capitalize on not only property valuation but currency as well.

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I think many people in the property market would appreciate a considered profesional opinion as to why the baht is so strong.
Bill Barnett responds:
Both the Bangkok Post and Nation financial sections have good analysis on this within this week, good reading and by all accounts currency continues to look volatile for the year 2010 so looks like w wild ride.

Bart Watcher, 29 Jan 2010 | 7:54 pm

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