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Phuket Post - A Different Kind of Newspaper
The Insiders on the coup
Recently Phuket Post ran a story on its website � http://kolbis-psit.com � about the effects of the recent coup on the island�s property industry. The story reported that developers and agents are, for the most part, upbeat and some had even seen increased business in the aftermath of Tuesday 19 September. However, the readers of one Bangkok web forum treated the report with more than a modicum of derision. So, the Post has gathered the collected wit and wisdom of its property columnists to give their views on recent events.

Michael Martin
Exotiq Real Estate


Considering the coup has thus far been carried out in a peaceful way, I greeted it with a sense of relief. It will bring to a head a political �limbo�, which has not been in anyone�s best interests.

The weeks and months ahead will determine whether Thailand can return to political stability and restore confidence again to the foreign property market. One must remember that democracy is still in it�s infancy in Thailand and it is unrealistic for western countries to expect the democratic process to unfold as it does in their country.

But it is apparent that the Thai people want democracy and they have their own way of restoring stability and continuing on their path of economic growth.

It is yet to be seen what the new government�s stance will be on the new regulations, introduced just prior to the coup, regarding foreign company set up, but life in Thailand goes on and such is the nature of doing business and purchasing property in �emerging� countries like Thailand.

We had two sales going on at the time of the coup � one buyer pulled out stating they were uncomfortable with the situation but the other buyer continued saying he had made the decision to make Thailand his home and that if this is what living in Thailand is about, then so be it.

The sheer beauty of the region and the friendly, open culture that greets you have not and will not change and this will ensure the property market remains strong.

The politics will work itself out.

Michael Martin. Exotiq Real Estate
Tel: 076-270 376 www.exotiqrealestate.com




Martin Phillips
Engel & Völkers (Thailand) Ltd


I strongly believe that a country�s domestic affairs should remain its own business and these should not come under critical opinion from an uninformed international community.

We chose to invest in Thailand for many good reasons and we remain firmly committed to building a strong domestic business that will contribute to the economy through expansion.

In recent months a number of real estate investors, driven by political uncertainty and specific real estate industry uncertainty have decided to adopt a "wait and see" approach.

Negativity created by the recent land code policy investigations has certainly caused confusion and has influenced some buyers who will no longer invest in Thailand.

I am sure many of the investigations are necessary but, unfortunately, the impact has been far reaching and, in the absence of clear statements from the government, investors tend to draw their own conclusions.

The effects of this added to the perception created by some international media regarding the recent coup, has caused potential buyers to look elsewhere. Lost investment serves no purpose to any party.

Investors like clarity and policies that can be regarded as being investment friendly � decision making then becomes a lot easier and investment flows.

The bottom line is that some customers have decided not to invest in Thailand. I am sure other agents have experienced similar cases. The concern is that this does not become a long term issue.

There needs to be a special effort to reassure and encourage international investors to enter the market. Clear policies that encourage overseas investment in real estate through a transparent system would be extremely beneficial to the economy.

Martin Phillips. Engel & Völkers (Thailand) Ltd.
Tel: 076-279 280-1 www.engelvoelkers.co.th




Nick Anthony
Indigo Real Estate


Politics, schmolitics. Governments come, prime ministers go, and political instability in an early democracy is often a difficult and hard won road.

Thailand�s own version of democracy is very much a work in progress. Thais enjoy a strong voice and free press, Thailand enjoys a solid Buddhist philosophy and benefits from the guiding hand one of the world�s most revered, influential and principled monarchies and has many centuries of commerce with the international community.

None of this will change.

Thailand�s tourism market, thanks to the new airport, will blossom; high season is around the corner and by all accounts will be a bumper one.

The issues relating to Koh Samui and the cleaning up of that hot development market will be positive. Let them learn from Phuket and develop higher quality projects with lower density and seek higher-end buyers and tourists.

The Temasek/Shinawatra investigation throws into light the need for improved regulations and transparency on asset ownership by foreigners.

Hopefully the new regulations regarding legal registration on the title of a foreign lease is the start of a positive trend acknowledging and encouraging foreign investment into property.

In Phuket, the changing government has been well received by the international community, however in the long term interests of residents, local and foreign alike, we hope the democratic transition team effectively pass power back to an elected administration, and one that embraces twenty-first century principles of good governance that will usher Thailand into a new era, heralded by this brave move and the opening of her most spectacular new airport.

Nick Anthony. Indigo Real Estate
www.indigoRE.com




David Wade
Tropical Homes Real Estate


I can honestly state the so-called coup has had no effect whatsoever on our business. Contrary to my immediate expectations, sales have continued to increase as the high season approaches and we have not lost a single sale.

Immediately following the take-over, I emailed all our clients � past present and future �with my thoughts on the matter, as I sincerely believed the removal of Prime Minister Thaksin, democratically or otherwise, could only be good for Thailand.

The democratic process was failing and Thaksin was clearly not going under his own steam, the coup simply gave him a helping hand in the great Thai tradition much to the relief of many Thai citizens and a lot of in the-know foreigners. The e-mail turned out to be unnecessary; those that replied simply supported my opinion.

The really great difference I noticed was more of a personal nature. When the tsunami hit my phone rang for two days solid from concerned relatives, friends and clients.

Following the coup I did not receive one phone call of concern even from my closest family and friends overseas. The fact is that clients and investors believe the coup may very well have a positive effect on the property market, especially in the long term.

From a purely selfish point of view I had hoped the baht might devalue just a little, but even that failed to happen. Those with the foresight to invest now will almost certainly reap the greatest rewards.

Fortune favours the brave!

David Wade. Tropical Homes Real Estate.
Tel: 076-326 125 www.tropical-homes.net