Thailand » Market Report

Phuket is the major tourist attraction of Thailand with hotels of all price ranges. Phuket local transportation includes car, motorbike taxi, and bus. Car rental fee is normally 1,700 - 3,200 baht/day. Motorcycle drivers are usually dressed in a green or orange vest and are available for a short trip taxi service. Simply wave one to a stop and ask for the fare to your destination. Tuk Tuk is also a kind of taxi it has become expansive over the last few years and may charge more.

Thailand is ranked 76th in the 2004 Human Development Report, with an HDI value of 0.768 out of 177 countries.

Most of the work that is found is usually in the hotel industry in areas such as management, finance, or accounting. These positions are usually found from abroad, however. Second to hotels in hiring, are the English schools and International schools. These schools are generally on the lookout for qualified teachers since education and the English language have become so important to the tourism trade. The third group of legally employed foreigners found in Thailand is owners and proprietors of small to medium sized businesses.

In 1999, and a second year of record breaking tourist arrivals and hotel occupancy, the dire hotel room shortage, resulted in many residential rental properties moving into short term vacation letting, drying up the supply of long term rental housing and stimulating the housing market still further.

There are many different types of properties in Phuket, from freehold to rentals. You do not have to be a millionaire to purchase Phuket properties that offer international standards, fantastic facilities, and stunning views, as prices for Phuket properties still manage to fall well below their equivalents in Europe, Australia and the US. 

The real estate industry in Thailand is now actively taking it upon itself to promote the delights and opportunities available in Thailand and lobby the government for amendments to rules affecting investors and you could quite possibly have reached a perfect time to enter the market in Thailand with very carefully researched purchases that you are willing to hold for the long term.

International Property Brokers forecast that market of Thailand will flourish in the next upcoming year of 2009. Our forecast is also based on this fact that economy remained amazingly strong in the second quarter of the year 2008. Data showed that the growth in economy was around 3.5% to 3.75% throughout the year 2008.  The real GDP growth will remain around 3.9% in the year 2009. This slow but sturdy growth in economy will leads to the well developed financial and real estate property market. International Property Brokers also forecast that the year 2009 will probe to be a good financial year for the real estate property markets as well.