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Billionaires lead Phuket Top 5 Rich and Famous villa owners list

Thailands resort island of Phuket is fast becoming the place for the rich and famous in search of tropical island living coupled with great investment.

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Thailand Investment – Thailands resort island of Phuket is fast becoming the place for the rich and famous in search of tropical island living coupled with great investment. Among them famous Formula One pilot, and Canadian mining tycoon.

Thailands resort island of Phuket is fast becoming the place for the rich and famous in search of tropical island living coupled with real estate investment.

Thailands resort island of Phuket is fast becoming the place for the rich and famous in search of tropical island living coupled with real estate investment.

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Billionaires lead Phuket Top 5 Rich and Famous villa owners list

Bangkok Property overview

Although the current outlook for Thailand property has taken a knock and the current political situation needs to be followed closely by potential Thailand property investors, the country’s property market should not be overlooked.

Being a developing country, the cost of property in Thailand is much lower than in the more developed European markets. But, on the other hand, prices for Thai property, in general, are rising at a much faster rate.

Many Real estate developers in Thailand have developed and implemented market research technologies and monitor the market closely.

Thailand’s property market was able to rebound from past crises and there is every reason to believe it will be able to absorb the blow of recent political tensions. The taxation situation has actually improved the conditions for purchasing property in Thailand, and if property prices do dip slightly as a result of the current situation it may actually be a good time to buy as there is a very real possibility Thailand property will regain its golden outlook soon. As a result, the financial condition of most major housing developers in Thailand is much more robust than in the past. The development of the local bond markets and increasing domestic savings has the made the industry much less dependent on foreign funds, a significant difference from 1997.

Billionaires lead Phuket Top 5 Rich and Famous villa owners list

Billionaires lead Phuket Top 5 Rich and Famous villa owners list

The real demand for residential real estate stems from local residents and foreigners living or working in Thailand. The latter group will definitely be affected by the weak global economy but what about local Thai residents? The Thai domestic economy will also be adversely affected by the crisis, especially the export sector. The investment sector and domestic consumption in Thailand Real Estate Market will also be affected by political instability – resulting in lower sentiment and confidence. Potential home- buyers will have less money for down payments and may delay purchasing decisions. Investors earn income from rentals. If the economy turns bad, rental rates and occupancy rate in Thailand may fall, forcing many investors to become sellers. When speculators and investors become sellers, extra supply is thrown into the market. Demand and supply pressure are exerting negative sentiments on the Thai real estate market in 2008-2009. However, some developers view the situation as an opportunity. Small developers will react immediately to the negative consumer sentiment by reducing new housing construction, providing larger developers an opportunity to gain market share in the Thai real estate market for 2009. Large development companies with strong reputations, strong balance sheets, and higher operational efficiencies will the first to benefit once the market turns around.

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