Investors are now searching for properties in Koh Samui that offer good value and are priced competitively, although the general consensus among brokers is that the market has bottomed out and there are fewer properties at bargain prices. Sellers have now taken the view that mainly because with the strength of Thai Baht, they can afford to drop their selling prices up to 35% and still break even in real terms. An example of that is Pound Sterling which back in 2006 was in the range of 70 to 75 Thai Baht to the GBP, whereas nowadays the Baht has strengthened to 48 Thai Baht. to the GBP. What this means is that a person that bought a one bedroom condo unit for 48,000 GBP (3,500,000 Thai baht) in 2006 can afford to reduce the value by 35% to 2,275,000 Thai Baht and come out with the exact same 48,000 GBP.
Realizing the impact of foreign exchange rates on selling prices is key, are sellers now adjusting selling prices? The answer now is usually yes but some refuse to accept this change, and hold on to their villas on the basis that if they promote at a lower cost they'll lose funds somehow.
The property marketplace in Koh Samui is now more active. After a quiet 2010, especially the traditional December high season for purchasing property in Koh Samui; the early part of 2011 have seen much stronger inquiries and a number of sales of villas. Sales of resale property on Koh Samui are have become stronger than pre-construction developments. Off-plan offerings at the moment are restricted right here, as a lot of purchasers would rather see the finished product.
Moving forwards the market place for Koh Samui property is likely to become far more lively. Buyers are here now and their may perhaps well be some little swelling of sales as the Hong Kong expat crowd seem to now have funds in their pockets as stock markets rise here again. End of year bonuses are also handed out, so this can be a good time in Koh Samui to be an estate agent.
Bear in mind that Koh Samui and indeed the entire of Thailand's property market has been slow and now we are seeing some green shoots of recovery, properties that give both value and top quality of finishing are harder to locate. If you are indeed looking to buy a property in Koh Samui then I would recommend an early visit before prices rise and all the best deals are a distant memory.
Realizing the impact of foreign exchange rates on selling prices is key, are sellers now adjusting selling prices? The answer now is usually yes but some refuse to accept this change, and hold on to their villas on the basis that if they promote at a lower cost they'll lose funds somehow.
The property marketplace in Koh Samui is now more active. After a quiet 2010, especially the traditional December high season for purchasing property in Koh Samui; the early part of 2011 have seen much stronger inquiries and a number of sales of villas. Sales of resale property on Koh Samui are have become stronger than pre-construction developments. Off-plan offerings at the moment are restricted right here, as a lot of purchasers would rather see the finished product.
Moving forwards the market place for Koh Samui property is likely to become far more lively. Buyers are here now and their may perhaps well be some little swelling of sales as the Hong Kong expat crowd seem to now have funds in their pockets as stock markets rise here again. End of year bonuses are also handed out, so this can be a good time in Koh Samui to be an estate agent.
Bear in mind that Koh Samui and indeed the entire of Thailand's property market has been slow and now we are seeing some green shoots of recovery, properties that give both value and top quality of finishing are harder to locate. If you are indeed looking to buy a property in Koh Samui then I would recommend an early visit before prices rise and all the best deals are a distant memory.
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