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Hikaye
 Nov 8, 07 - 4:49 AM |
Property in Thailand
Thailand Property is one emerging market where the concepts of lifestyle buying and investment seem to have become conflated to a relatively high degree. This country of some 65 million people has traditionally marketed itself to the West, to tourists and homebuyers alike, on the strengths of its exoticism and its myriad natural assets – most notably its picture-postcard beaches, which have appeared in numerous movies and ads. The lure of the mysterious, in the form of Thailand Property’s culture, its stunning Buddhist architecture and art and its often equally beautiful inhabitants has been combined with the familiar pleasures of sun, sea and sand to create one of the Far East’s most successful tourist brands. Thai tourism was badly hit by the 2004 Boxing Day tsunami disaster but the recovery has been significant: the Tourism Authority of Thailand Property puts the number of international visitors to the country for 2005 at just under 13.4 million – actually up from 2004’s figures despite the Boxing Day catastrophe – and predicts growth for 2006 at 13 per cent. Solid marketing by the government has paid dividends, and – while few believe another devastating calamity could occur so soon after the first tsunami – the authorities have been quick to install early-warning systems which will, they say, give ample notice of another such incident. In other words, fears are being assuaged where possible. The Thailand Property market is also experiencing a recovery; following a steep decline in sales volume in the months after the tsunami, sales are now once more increasingly buoyant, and the long-term trend of significant annual appreciation that was interrupted by the tragedy seems to be back on track again. Hard evidence is thin on the ground but agents’ predictions for capital growth in 2006 in the main homebuying hot spots (which tend to be tourist-friendly coastal locations) range from ten to 50 per cent – the lower end of which is consistent with what government figures are available for the year leading up to the tsunami. |
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