Interest in Thailand is picking up

The property market in Thailand is beginning to attract an increasing amount of overseas investors, it has been reported.

According to Overseas Property Professional (OPP), the new year has brought with it a change in fortune for the Asian destination, which has seen dwindling interest from abroad since the boom of 2007.

The growth in market activity has led to one developer deciding to re-launch its luxury resort in an attempt to tempt investors.

Richard Shearer, managing director of Prism Estates, explained that the project, in Phuket, will be supported by an increase in marketing expenditures to drive sales.

"We saw a marked shift in attitude at the turn of 2010 and this has continued with an increased amount of interest over the past few months," he told OPP.

Investors in the region will be pleased to hear that prime real estate in the country managed to resist the global economic crisis well, with Knight Frank's Wealth Report claiming that prices have risen by five per cent over that period.

In addition, the report predicted that 2010 will see further growth of between five and ten per cent.

Last year, ReportBuyer.com claimed that tourism in Thailand would also rise by five per cent year-on-year.