PHUKET REAL ESTATE Rampaging Thai Baht Adds to Woes

PHUKET REAL ESTATE Rampaging Thai Baht Adds to Woes
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.