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International Property Investment News
Foreign property sales cool off in Thailand
Sales to foreign buyers have slowed down in Thailand, according to the Bangkok post.
The newspaper quoted staff of Phuket-based property broker and consultant Andrew Park predicting that the fundamentals was putting pressure on the growth of the real estate market.
CEO Graeme Laird was particularly worried about the political situation, in which there has been numerous clashes between the government and rebel fighters.
The Foreign Office has advised nothing but essential travel to certain provinces in Thailand.
The strength of the baht in the past year and a half, and changes on the nominee laws were also seen as affecting house sales to buyers from abroad.
Andrew Park itself is involved in an important condominium project worth 400 million baht, in which a 49 per cent quota to foreign buyers remains unsold because of the problems of attracting interest, argued the company.
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