Why Phuket Property Investors Should Embrace The Strong Thai Baht
Surely no one living in the Land of Smiles has missed how the Thai Baht has soared in 2019, gaining 8% against the USD making it a 6-year high against the US currency. It has been Asia’s best performing currency this year, and some forecasts even suggest the Baht could be reaching a peak of 30 against the US dollar in the near future.
As a result, export, overseas investments, tourism and economic growth in general, have seemingly slowed down for now, but local and foreign real estate investors alike could actually look at the strong Thai Baht as a positive.
Proof That Thailand Is A Major Economy In Southeast Asia
The strong Thai Baht is an indicator of how big and influential of an economy Thailand is becoming in Southeast Asia. The country was ranked the second-biggest economy in the ASEAN region in terms of GDP in 2017, proving that it’s more than just a world-class tourist destination.
List of Asian and Pacific countries by GDP (PPP)
Solid economic fundamentals only can be a positive in the long run, so for investors focusing on the long-term returns on their investments the benefits of investing and buying property in Thailand while the Baht is high still far outweigh the costs.
Overseas investors can also take advantage of resale properties where current foreign owners have had their money tied up in Thailand for a while and are looking to “cash in”. They will sell relatively cheap in order to free up capital and move it back to their home country at a better exchange rate than when they made the initial investment. Win-win for both parties. As examples of such properties, we have this 1 Bedroom Sea View Condo at Accenta and this 2 Bedroom Sea View Apartment at Sunset Plaza.
Also keep in mind that developers on Phuket offer high guaranteed rental returns (up to 7% guaranteed for 15 years) that will allow you to earn Thai Baht, so you’ll actually benefit from the strong Thai Baht.
Local Investors Are In Pole Position
This is indeed the time for local and expat property investors to step into the game as they are in a prime position to apply the “buy low, sell high” strategy. Local investors will see their money go a lot further than in the past as developments will be forced to offer steep discounts in order to clear their inventory. By going via Phuketcondo.net, you can get special discounts at this Rawai Condominium Development. The hotel managed project offers guaranteed rental returns and is no-risk as it’s already completed. It boasts a premium location on the south of the island, only 400 meters from the sea adjacent to Laem Ka Yai and Rawai beaches.
Overall, we believe that this is as good of a time as any to invest in property in Phuket, no matter if you are a foreign or a local investor.
Do not hesitate to get in touch if you have any questions or would like a personal consultation on the Phuket property market and the latest business opportunities.