Property buyers and investors in Malaysia seem largely unconcerned by the coup in Thailand, with any impact on the real estate sector expected to be short-lived or limited.
A number of sales contracts were signed at a Thailand property exhibition in Kuala Lumpur last weekend featuring Park 24 (pictured), a freehold high-end mixed-use development in Bangkok’s Sukhumvit 24.
A spokesperson for Singapore real estate agency Trillion Property, the agency handling the event, told DDproperty.com: “Despite the military coup in Thailand, there are still people who visited our launch eager to learn more about investing in Thai properties.
“We closed some sales and most of the buyers are those already familiar with Thailand’s political history, and are taking advantage of the favourable currency exchange rates brought on by the coup.”
The Thai baht versus the Malaysian ringitt fell to 9.53 in mid-August – around the time that the current political instability surfaced. Yesterday the rate stood at 10.17 according to data from xe.com, a 6.17 percent decline in 10 months.
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