Property Market in Phuket Is Hardly Affected By the Current Political Situation
In spite of the shutting down of Phuket International Airport for two days, real estate experts in Phuket claim their industry is not likely to be influenced as foreign consumers know Thailand's political circumstances.
Martin Phillips, based in Phuket as managing director of the upmarket residential brokerage Engel & Volkers (Thailand) Co, said no customers had deferred purchases regardless of the circumstances being international front-page news. Thailand was not unaccompanied in facing political problems and that these conditions time and again takes place in Europe.
''This is not strange and these are generally short-term disturbances, much the same as the momentary closure of Phuket,'' he said.
''We do not feel that the political circumstances will have an effect on property purchases in Phuket as most consumers in Phuket are foreigners who are familiar with Phuket and know Thailand to a certain extent. We consider the demand for Phuket properties will not fall owing to this,'' he said.
Although Mr Phillips added that current political improbability in Thailand was not obliging to business normally or to the resort property market, which would do well from an environment more favorable to investor confidence.
"As this is a domestic concern, and has so far stayed quite diplomatic, it regrettably will not be viewed optimistically across several sectors, not just resort property,'' he said.
Patima Jeerapaet, managing director of the consulting firm Colliers International Thailand, said Thailand required to correct the country's image right away to support foreigners about the generosity Thai people generally make available to foreign guests.
He said foreign investors were still certain about the basics of the Thai economy, which were much enhanced than those of its neighbors like Vietnam, Cambodia and Burma.
He confessed that a few foreign investors might holdup purchases, however said investors who realize the theory of high-risk, high-return were still coming across to invest in Thailand.
Martin Phillips, based in Phuket as managing director of the upmarket residential brokerage Engel & Volkers (Thailand) Co, said no customers had deferred purchases regardless of the circumstances being international front-page news. Thailand was not unaccompanied in facing political problems and that these conditions time and again takes place in Europe.
''This is not strange and these are generally short-term disturbances, much the same as the momentary closure of Phuket,'' he said.
''We do not feel that the political circumstances will have an effect on property purchases in Phuket as most consumers in Phuket are foreigners who are familiar with Phuket and know Thailand to a certain extent. We consider the demand for Phuket properties will not fall owing to this,'' he said.
Although Mr Phillips added that current political improbability in Thailand was not obliging to business normally or to the resort property market, which would do well from an environment more favorable to investor confidence.
"As this is a domestic concern, and has so far stayed quite diplomatic, it regrettably will not be viewed optimistically across several sectors, not just resort property,'' he said.
Patima Jeerapaet, managing director of the consulting firm Colliers International Thailand, said Thailand required to correct the country's image right away to support foreigners about the generosity Thai people generally make available to foreign guests.
He said foreign investors were still certain about the basics of the Thai economy, which were much enhanced than those of its neighbors like Vietnam, Cambodia and Burma.
He confessed that a few foreign investors might holdup purchases, however said investors who realize the theory of high-risk, high-return were still coming across to invest in Thailand.
Labels: real estate, Residential
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