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Will Euro Drop Hit Phuket Property?

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Posted: 06 May 2010 | 6:00 am

As the Euro hits a one year low on the fringes of an exchange rate of USD$1.30 to the US dollar the real estate market is poised with uncertainty over the trickledown effect.

Over the past two years currency fluctuations have played havoc with prospective property buyers with the most decided negative being the plunge of the British pound. Both UK expats and residents have been large scale buyers in the foreign dominated market, and what amounted to an early crash out hit sales streams.

Back of continued worries over the Greek bail-out, stock markets around the world included the Dow Jones saw jitters. Bizarrely enough the Thai baht despite an economic pounding by political upheavals has continued to stay at exceptionally high levels.

After the recent peace initiatives and promise of November elections hit newlines, the SET (Stock Exchange of Thailand) was up. Most market watchers expect the Thai currency to trade within a limited band at its current level.

For developers looking to move up sales pace, there major overseas currencies look to be a hindrance rather than help for the foreseeable future.

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I Just dont see why the pound and now the euro are dropping so low against the baht.having seen the currency fluctuate over the last 12 years fom 90 bht to a level of a normal 65 bht approx.. and now down to Bht 46 to the uk pound.

As much as they say go mine sweeping,there are no bargains on this rate of exchange,unless maybe you have aussie dollar.we have not come out of the economic climate yet....if you are the............ GAMBLER GO AHEAD...IF NOT HEDGE YOUR BETS.....

Jd, 07 May 2010 | 2:35 pm

The Thai Baht strengthening, The Euro weakening, and all the political developments that will go on until at least next year - the perfect storm.

But hold a minute, let's not forget those eternal optimists, as resales are always snapped up in a day now's the time to cash in, send all the money home, and as the whole island it seems is available for rent get the deal of the century.

Jean Simmons, 06 May 2010 | 1:03 pm

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