Most of us dwell or visit here for other reasons than making some money out of property. For locals, their Chinese and/or Indian blood demands that real estate is the most important thing since sliced bread.
Let us take a look at the Thailand property market today, as we hurl ourselves into the next year…are we in for a big crash? Will the powers-that-be strip us foreigners of all our property holdings and send us back home? Or can we safely assume that our Thai partners (and family) will continue to ride BMWs and Mercs confidently into the next decade?  

Having dwelled in this amazing corner of the world for some time; having witnessed the Thailand property boom and crash, I have seen your average Khun Thai Joe Blow rise from the gutter, then ride their Porsches into the biggest Bangkok hotels, turn around five years later begging me for 10 Baht to buy a bowl of noodles, then move onto palaces and mansions worthy of Hollywood. They are seriously-addicted gamblers. And it is not only the Thailand property market that is capable of inducing such changes in fortunes

Eons ago, I used to flog office space in Hong Kong. Working for one of the international estate agent brand names, I vividly remember walking into the office of the Ohs just back from the Star Ferry in Central. Teddy was a nice bloke, his wife a Satan hidden behind gold and silver. Their office was styled as a bookmaker’s – anything was buyable, tradeable or floggable. If the delivery boys did not make 200 U.S. Bucks a day, they were dropped out of the (15th floor) window at dusk as a matter of routine. Well, Teddy apparently committed suicide (five gunshots to the head) by the time his wife owned about half of Hong Kong…and the case still drags on. Clearly, the writer is not going to put his name to this article, but give him the chance to explain why real estate will continue to be the Easy Road for all and sundry in and around Thailand (wives and girlfriends’ lead projectiles permitting)..

Let’s take a closer look at the center of the Thailand property market – Bangkok. It remains the main trading centre of the Kingdom, if not for the whole of Southeast Asia. All the wealth revolves around Lumpini Park, Sukhumvit Road and outwards. Evolving from a mosquito-infested mud swamp as a bolt hole from the marauding Burmese, oodles of dosh have been made out of real estate there for centuries. Right now, all the Bangkokonians are pleading a downturn in the Thailand property market and they are currently seeking greener fields in which to plant their wealth. The Thai Baht is going as strong as it was in the pre-1997 days before the international currency thieves stitched-up the Asian markets (utilising the short-sighted position of Asian countries for not holding enough real money or gold as back-up). Expect some major investments into the other speculative areas of the world (the back of Russia, remote Asian islands and Greenland). But what about the offerings of the Thailand property market? Pattaya, Chiangmai, Koh Chang, Phuket, Hua Hin, Samui and Esarn? Well, polishing up the Ball of Crystal, we are set for an ongoing push in ALL regions. Believe it or not, Thailand is now the leading tourist and retirement hot spot on the planet. We have the most beautiful willing people, the best cuisine and the greatest golf courses to ease us along the path. Enormous amounts of money are being piled into the Kingdom from diverse places such as Abidjah, Tel Aviv, Dnepropetrosk, Doha and Filey. And, it is all going for the most part into near-beach locations. Money is flowing once again, every which way. All you need to do is to dip your smallest toe into the honey pot to guarantee that your grandkids will be spoilt brats, complete with the latest degree from the best of the world’s schools and universities.

My ranking for smart money to be put into real estate today for a good five-year gain must be Issan, then Hua Hin or Chiangmai and finally, south of Pattaya (all the way down to Koh Chang and beyond). My bank details are displayed on Page 247, for the 10% Finders’ Fee… Of course, we just cannot buy land in our own name, but a comprehensive list of lawyers and helpful land officers are also displayed below my bank details. Seriously, I would go for planned or built low-rise condos with sea, mountain and/or golf course views. Bung the dosh in and put your feet up. No land ownership dramas (condo title or long lease). A nice nest egg kept well away from your in-laws…Phuket, Krabbi and Samui? My only recommendation for investment into these highly over-priced, snobbish, expensive and inaccessible places would be to get your Mother-In-Law to sell all her Bank of Scotland shares and proceed directly to Bangkok Airways. On page 148 is a list of local agents that would kill for a Dollar. Have a good New Year and (safe) investing.