Global and domestic crises are worsening and moving through the first quarter of 2009 the market outlook forecasts an extremely challenging property market in Samui and other key resort areas in Thailand, according to C9 Hotelworks latest Samui Luxury Villa Market Report.
"The evolving tourism sectors and broadening access to Samui introduce a new set of potential investors to the islands real estate market, and with changes to how the island is governed it may well alleviate concerns about necessary infrastructure development and other local issues," said Bill Barnett, Managing Director of C9 Hotelworks.
Thailand is still suffering from the recent political events and a national agenda which focused more on domestic affairs whilst other regional economies were gearing up to address the impact of a global downturn. As a positive though, the Thai baht depreciated approximately 15% over the past 12 months versus major currencies and is forecasted to devalue another 5% in 2009, thus creating lower acquisition prices for offshore buyers.
