All-clear sounded for foreign buyers

PROPERTY

Published: 8 Feb 2013 at 00.00
Newspaper section: Business

With the return of political stability, foreign property buyers have resumed their shopping spree for Bangkok condominiums, as evidenced by the 480-million-baht penthouse unit recently acquired by a retired Indian property investor based in Dubai.

An artist’s rendition shows penthouses at The Ritz-Carlton Residences in the 77-storey MahaNakhon, a luxury mixed-use skyscraper, with an average price of 280,000 baht a square metre.

"This year will be good for the high-end residential market, as foreign buyers' confidence is growing stronger," said Sorapoj Techakraisri, chief executive of the luxury property developer Pace Development Corporation Plc.

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boons
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Discussion 1 : 08 Feb 2013 at 07.541
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Political stability which is built on the back of economically unsustainable policies is not political stability.

When the economy fails, (which mathematically speaking, it must) this political stability will likely evaporate.

Just look at Europe: The wealth-effect of the credit-boom bought a decade of unity. Now as the economic cycle returns with a vengeance, political instability is soaring.

Thailand (an export economy) is suddenly wealthy even as global consumption declines. Why? How? If you believe it's a function of organic growth, you aren't very good at math.

Money seeks yield. And goes as quickly as it comes.
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All-clear sounded for foreign buyers | Bangkok Post: business