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Photo credit: Tom Marshall
Forget Spain, France, Florida and the other usual suspects of overseas property, this time it was the turn of Thailand to take the top spot in TheMoveChannel.com's monthly Investment Watch.
The report, which charts the level of interest in the overseas property portal's listings, saw a condo in Pattaya attract the most enquiries In October. What was it about the luxury Thailand apartments that triggered such a torrent of attention?
The popularity of Pattaya's property may seem surprising after Thailand's extensive flooding, but investors were attracted to the resort a matter of days before the tragic event took place. The demand for the coastal condos, located 600 metres from the beach, actually foreshadowed industry predictions, as Colliers International Thailand suggested that the water-damaged homes would lead to a rise in interest in condominiums.
A significant increase in the number of condominiums sold in Pattaya has been recorded.
During 2011, the Kata and Karon Beach areas of Phuket, Thailand, emerged as top locations for new condominium developments.
Property insurance cover in Thailand is shrinking fast in the wake of the country's severe floods last year. Property damage has been conservatively estimated at about US $10 billion to US $11 billion according to groups like Swiss Re.
The key to expat retiree happiness is a good quality of life, good weather and a low cost of living, according to an international survey.
Q3 Marketplace Report from HomeAway.co.uk reveals Spain as top destination for summer 2011 and growth in rentals market in Thailand and Dubai
The world's housing markets had a weak third quarter of 2011, according to the latest survey of worldwide house price indices prepared by the Global Property Guide. During the year to end Q3 2011, house prices fell in 25 countries (out of the 44 for which quarterly house price statistics are available) and rose in only 19.
Developers in the Thai real estate industry are exhibiting a greater degree of caution in their investments, it has been claimed.
Thai developers suddenly have a “golden opportunity” to buy up land in flooded areas at bargain prices according to Patima Jeerapaet, managing director of Colliers International Thailand.
The Bank of Thailand (BoT) lowered its Gross Domestic Product (GDP) growth projection for 2011, significantly owing to the widespread flood in upper part of the country, Mass Communication of Thailand (MCOT) reported.
Bangkok's condominium market will bounce back despite the Thai capital's suburbs currently being ravaged by heavy flooding, according to an associate director of Colliers International Thailand