Political crisis will not spook demand

The announcement of a state of emergency is clearly a concern to foreigners, especially those with limited knowledge of Thai politics.

Surprisingly, last week, when the situation appeared to be deterio¬rating quickly, we saw evidence of healthy sales volumes from Thai and foreign buyers in both highend and midmarket condominiums and housing projects. These included projects marketed by CBRE.

Property in Thailand is still pop¬ular among individual investors because of its lower prices relative to other regional markets. Combined with the cost and stan¬dard of living in Thailand, this cre¬ates a value proposition that is dif¬ficult to match regionally.

Buyers of Thai property come from more than 50 countries, including the US, Australia, Asian countries and almost all of Europe.

Thai investors too who are now better educated about the market and have begun to invest in highend condominiums.

We are confident that the nega¬tive effects of these political issues are temporary, with no longterm effects on property values or mar¬ket sentiment.

There may be a temporary slow¬down in volume but we expect that those who invest in and develop quality projects will find ready demand and a rise in values once the market rebounds.