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Will Euro Drop Hit Phuket Property?

Category: Real estate, Posted:06 May 2010 | 06:00 am

As the Euro hits a one year low on the fringes of an exchange rate of USD$1.30 to the US dollar the real estate market is poised with uncertainty over the trickledown effect.
Over the past two years currency fluctuations have played havoc with prospective property buyers with the most decided negative being the plunge of the British pound. Both UK expats and residents have been large scale buyers in the foreign dominated market, and what amounted to an early crash out hit sales streams.
Back of continued worries over the Greek bail-out, stock markets around the world included the Dow Jones saw jitters. Bizarrely enough the Thai baht despite an economic pounding by political upheavals has continued to stay at exceptionally high levels.
After the recent peace initiatives and promise of November elections hit newlines, the SET (Stock Exchange of Thailand) was up. Most market watchers expect the Thai currency to trade within a limited band at its current level.
For developers looking to move up sales pace, there major overseas currencies look to be a hindrance rather than help for the foreseeable future.

Other News

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Phuket’s World Class Creative Mad Metal Men

Category: Tourism, Posted:15 Jan 2021 | 09:15 am The Underwood Art Factory with its crazy, cool, innovative metal sculptures and fabrication is one of the island’s best global exports to some of the leading design hotels around the globe. Founder John Underwood’s long-term work with renowned design guru Bill Bensley has seen his work showcased in countless iconic locations and properties. The Underwood […]
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Travel Between Bangkok and Phuket Without Quarantine Allowed

Category: Tourism, Posted:13 Jan 2021 | 10:40 am There is currently a lot of confusion on whether travel between Phuket and Bangkok is allowed, and whether a 14-day quarantine is required. The Phuket Covid-19 Information Centre have posted in Thai language only that temporary visitation is allowed (not more than 14 days). Those coming from the maximum controlled areas, high-risk areas and four […]
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Is A Forced Closure Order For Phuket Hotels Needed?

Category: Hotels, Posted:10 Jan 2021 | 18:18 pm On Saturday 9th January a new order from the Phuket governor that requires a 14-day quarantine for arrivals from Thailand’s ‘red zone’ areas has thrust the island’s hotel and tourism sector into unknown territory. The impact over the past week, post-New Year on travel to the island has methodically ground down airlift to the point […]