Thailand's political turmoil is bad for its property market. Estate agency, Savills, says it is property management arm has received requests from residents to beef up security at premises in central Bangkok following anti-government protests last month, when the Red Shirts fought running battles with the police.
The estate agency says images of political street violence broadcast around the world has put off potential holiday home buyers from overseas from coming to popular resorts like Pattaya, Phuket and Koh Samui.
The agency insists the political situation is better than the media makes out, that violence is localised. It says the market for homes bought by Thais is “performing exceedingly well”.
However, the agency concedes hotel occupancy levels are likely to fall, because of the violence. This means anybody looking to let out their holiday home will find tenants tougher to find. Oh well, at least there will be more room on the beach.
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