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Strong Baht Surge Damaging To Property

Category: Real estate, Posted:04 Oct 2010 | 06:00 am

As the Thai baht continues its steroid appreciation Kasikornbank's Head of Financial Markets has been quoted in the press as saying the USD Rate could hit $29.5 in 2011.
This is fresh on the heels of the current breaching into the THB30 level which is the strongest the currency has been in 13 years.
For Phuket which has high exposure to both the tourism and property markets there is a resulting link also to a large expat retirement market.
Many of these who are not US nationals have USD savings, investments or recurring pension payment.
For any of these high inflation and weakening spending power create a negative which could impinge on new arrivals looking to stay and buy real estate.
While trends are impossible to forecast with certainty, all across Asia, regional currencies which were slammed in 1997 including Singapore, Philippines, Malaysia and of course Thailand could see a return back to the heyday of 15 years ago.
At this point from a layperson's view could a USD25 point be possible; most would not rule out the idea.

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