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17/02/2009 - Is overseas real estate still a good Investment?  17/02/2009 - Is overseas real estate still a good Investment?

Banks are going bust at an alarming rate, governments across the globe are warning of a lengthy recession and hedge fund managers are disappearing with millions of dollars, not to mention the alleged $50 billion fraud committed by Bernard Madoff, the trusted former chairman of the Nasdaq Stock Exchange.  Let's hope none of our subscribers were affected by that.

So where do you invest your money at a time like this?

Stocks and shares seem a little risky at the moment and keeping you money under the floor boards, as my Grandparents did, seems a safe option but not really a sensible one, especially if inflation kicks in to gear as many experts predict in 2009.  There are of course still some large banks and financial institutions offering to invest your money for you, however, at the moment the interest rates are low so the return you receive will likely be negative in the long run.

We have seen real estate prices decline recently in many countries, particularly in the U.S. and U.K. markets. There were several reasons for this but the main factor was that these real estate markets were too highly leveraged with banks lending money to people who couldn't afford to pay it back often with no money down, so it was no surprise that the number of buyers increased more than would be usual and this created a ''bubble" in property prices.

So, why is Phuket any different?

The Phuket property market is very strong for several reasons but first and foremost because it is almost entirely cash based, meaning there are very few mortgages.  Secondly, People who buy property in Phuket generally do so for longer term investments rather than trying to cash in on quick profits by ''flipping" off-plan properties before the final payment is due. We have seen this in many other destinations, such as in Dubai, and these property markets are now paying the price for this.

For these reasons we haven't seen the creation of a price ''bubble" in the Phuket property market.  Prices have in general remained stable due to the limited and declining availability of prime building land, and although there are some developers discounting prices to increase sales and cash flow, there is no panic selling, but that doesn't mean there aren't great deals to be had - read on for details.

So why not put your money into something which you can enjoy whilst earning you a healthy return on your investment come what may?

We've said before many times why Phuket's a great place to invest and we won146t presume to bore you again - let us find you a great property deal.

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