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Thailand popular with expats

Article Date : Thursday, July 19, 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

Retirees and others looking to invest in property are keeping the south-east Asian country of Thailand top for second homes, according to local reports.

While the kingdom presents some problems for property investors, such as restrictions on property ownership, financial facilitation and visa regulations, its climate, environment and its people are helping maintain its popularity, wrote the Bangkok Post.

Thailand has traditionally courted the mature property investor, granting more than 12,000 retirement visas in the first seven months of last year, James Pitchon of CB Richard Ellis Thailand told the newspaper.

Increased political stability will help its popularity further and stave off competition from other Asian countries, his colleague Aliwassa Pathnadabutr suggested in a separate interview with Property Report.

Ms Pathnadabutr added foreign buyers of high-end residential property had doubled in a decade and the company's most recent figures showed that more than 40 per cent of buyers were foreign.

The Bank of Thailand said that tourism generated nine per cent of Thai gross domestic product in 2005, according to Easier.
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