Eurozone crisis impacts Thai property market

New research centred on the Thai residential property market suggests that the effects of the Eurozone crisis have resulted in a drop in the number of European property investors looking purchase a property in Thailand. In recent years the Thai Island of Phuket has proved extremely popular with overseas property investors from Europe looking to buy a holiday home in the sun but numbers are dwindling as the Euro crisis rumbles on. However the numbers of tourists arriving on the island are on the increase and experts predict this will lead to higher sales of condominiums and villas in the months ahead. More Asian holidaymakers are visiting Phuket and local agents believe this will, in time, translate to a higher number of properties selling to buyers from across Asia. A new report from CRBE Thailand suggest that in today’s market international buyers are more cautious when purchasing new property preferring to buy completed units rather than from a development still under construction.