"Great potential" for Thailand property

Thailand offers "great potential" to overseas property buyers, one real estate expert has claimed.

Nick Marr, chief executive officer of Homesgofast.com, stated that the country has attracted the interest of developers, airlines and holidaymakers and that those looking to purchase homes abroad should also consider the location.

Noting that Thailand has not been immune from the global economic downturn, Mr Marr said that "the groundwork for recovery is being laid for a healthy property market", stating that he expects the sector to recover during 2010.

"The property market in Bangkok has a large unsold inventory of condos that offer very low prices," he explained, adding that demand for these properties is likely to increase when investors discover the selection of cheap investment opportunities that are available.

According to a recent study by CB Richard Ellis, demand for houses in Thailand's capital, Bangkok, fell during the third quarter of 2008, with supply of apartments in the city totalling over 10,000 in December of last year.