EXCLUSIVE: Overseas property investors showed signs of returning to Thailand before last week’s military intervention, with Pattaya real estate in particular attracting significant interest.
According to the monthly Top of the Props report produced by TheMoveChannel.com, a leading overseas property website, Thailand returned to the top ten most-searched countries during April 2014.
Despite months of political unrest it was rising demand for Pattaya property investments that drove renewed interest from overseas property buyers, according to the website.
Thailand was ranked as the eighth most-searched country for overseas property investments by the U.K.-based website, accounting for 2.31 percent of all searches.
It’s unclear whether last week’s announcement of a coup will affect interest in property investments although similar events in the last 20 years have seen short-term drop in overseas property buyers in Thailand.
Elsewhere the website reported that Italian property is now the third most popular in the world with the country receiving more enquiries than both Spain and Portugal.
Portugal´s share of enquiries stayed steady at 3.92 percent compared to 4.22 percent last month. Spain, on the other hand, has seen its share of enquiries fall, accounting for just 3.81 percent of enquiries last month.
France also saw its share of enquiries dip month-on-month from 8.4 percent to 6.6 percent, although it retained its runner-up spot behind the United States. American property has now been the most popular market for 10 consecutive months on the website’s searches. Aside from Italy, America was the only country in the top five to see its share of enquiries increase.
"Italy has been pressed into adopting tough austerity measures to try and get its economy in better shape," explained Paul Belcher, Managing Director of Lake Como specialists Ultissimo.
"Property prices have declined as demand has slumped and so Italian property represents much better value now than for the best part of a decade. International buyers are increasingly confident that they will see an upturn in property prices and many don´t want to miss the current opportunity."
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email andrew@propertyguru.com.sg