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'Expect Thailand to be back on even keel in near future'

Article Date : Tuesday, May 22, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Thailand could soon witness a "property turnaround", an expert in the field has said.

Despite the recent spate of terrorist incidents in Bangkok, Robert Collins, managing director of the property management firm Savills (Thailand) believes this is a global phenomenon and is not confined to Thailand.

Although Bangkok has seen a decline in sales, the market has managed to resist a serious drop in prices, while some premium sector prices are actually rising, reports the Bangkok Post.

''It doesn't really affect the need for housing. Population growth needs catering to,'' he told the newspaper.

''If anything, we foresee pent-up demand. As soon as Thailand is back on an even keel, a very significant volume of transactions will happen again.''

Mr Collins' view echoes that of Longlom Bunnag, from Jones Lange LaSalle, who said that overseas investors have remained focussed on Thailand despite political and economic uncertainties

According to the Thai News Agency, Mr Bunnag believes that the country's economic conditions will improve after the general election in December.
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