The baht’s appreciation against the yuan and dollar will have a direct impact on demand for residential units for the rest of the year, say property developers.
“Demand from overseas investors for residential units priced under Bt10 million has been dropping since the second quarter, and the baht has appreciated 8.07 per cent against the yuan, from Bt5 per yuan to Bt4.35 in August this year, while rising against the dollar by 5 per cent,” Prasert Taedullayasatit, chief executive at Pruksa Real Estate Plc, told The Nation recently.
He said residential prices had risen an average of 8 per cent in yuan terms and 5 per cent in dollar terms, curbing demand among foreign buyers for units under Bt10 million. But demand for luxury residences above that price is still growing, Prasert said, thanks to foreign investors looking for second homes in Thailand, particularly Hong Kong people wanting luxury condominiums in Bangkok amid the current political unrest in the Chinese territory.
Source: https://www.nationthailand.com/property/30375822
Looks like the thousands of villas in hua hin for sale will remain that way for a while ... unless they're all cranked up to 10 mil.
Baht’s strength dulls foreign interest in homes under 10 million
Baht’s strength dulls foreign interest in homes under 10 million
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Baht’s strength dulls foreign interest in homes under 10 million
Now that's a good Thai idea! May try that one!Looks like the thousands of villas in hua hin for sale will remain that way for a while ... unless they're all cranked up to 10 mil.
May you be in heaven half an hour before the devil know`s you`re dead!
Re: Baht’s strength dulls foreign interest in homes under 10 million
I think the Thais are already ahead of you in that one. Several places in my road for sale at 3x the price I paid - nobody buying, of course 
Championship Plymouth Argyle 1 - 0 Hull City 
Points 51; Position 21
Consolidated - Championship Next Season
Points 51; Position 21
Consolidated - Championship Next Season
Re: Baht’s strength dulls foreign interest in homes under 10 million
I've noticed that near where I live in Nong Khon, almost all of the smaller new houses that have been built recently have been bought by Thais.
Re: Baht’s strength dulls foreign interest in homes under 10 million
Why would foreigners buy a house when they can't own the land it's on, they can't pass it down to any of their family and they (soon enough) can't get by all the visa restrictions to even live in the damn thing.
People aren't stupid.
People aren't stupid.
I don't trust children. They're here to replace us.
Re: Baht’s strength dulls foreign interest in homes under 10 million
8.07% ??? Maths has changed since I learned it. Perhaps I'm figuring it wrong.... the baht has appreciated 8.07 per cent against the yuan, from Bt5 per yuan to Bt4.35 in August this year...