Thailand property market 'recovering'?

Thailand's property market is showing signs of recovery after suffering during the global economic crisis that affected much of the rest of the world.

This is according to editor at BuyAssociation Paul Collins, who has identified the country as a potential investment option for overseas buyers.

Britons who transfer money to an agent in the country to complete a purchase will then be able to rent out their investment to tourists looking for an alternative to hotels.

Visitors from Australasian countries now account for a substantial proportion of the total number of tourists who head to Thailand and Mr Collins explained the potential to rent out property has been "extended" thanks to the influx of visitors.

Thailand was hit by extensive flooding last year that caused many factories to be shut down and is likely to have delayed construction of new housing developments, but Mr Collins said work is now back underway.

"New projects are starting to make their way to market which should hopefully translate into increased sales figures," he said, adding prices "are also quote keen at present". The economic downturn [has] made pricing more realistic," he concluded.

Source: HiFX