Political Turmoil, Any Impact?

Discussion in 'Thailand property' started by Maitam, Aug 30, 2008.

  1. Maitam

    Maitam New Member

    I am sure all of you know about the political turmoil that is afflicting Bangkok right now. Although it had been relatively peaceful so far, there's a possibility that it could turn ugly in the future.

    I heard something on the news that events are now affecting tourists arrival not only to Bangkok, but to other parts of Thailand as well, such as Phuket.

    So has there been any adverse impact on the property market and the rental market in Phuket? Or perhaps signs that the fallout will come a bit later?
     
  2. egeefay

    egeefay Senior Member

    It may be too soon to determine what effect the political unrest in Thailand is having on tourism or the property market.
    But it doesn't take much imagination to conclude that the turmoil will not be good for Thailand's business...at least in the short run.
    Already the stock market has taken a hit
    Some merchants are closing their doors while protesters are blockading airports and trying to disrupt rail service...both vital to tourism.
    If the current conditions continue, Thailand could grind to a halt...and that could frighten foreigners contemplating vacationing in Thailand or buying retirement property there.

    On the heels of the recent coup, the attempts by the political opposition could spell disaster for Thailand's economy.


    On a political note, the urban protesters are fed up with the democratic rule of one person , one vote. Reason: the rural population always outvotes the city folks and elects someone they don't like.
    They would rather see a majority of representatives "appointed" rather than "elected"

    Might as well just return to the days when the military ran things....like they do in Burma.
     
  3. Maitam

    Maitam New Member

    Hmm, that's not very democratic of them, the urbanites I mean.

    This turmoil, if it gets any worse, might create a buying opportunity, just like the tsunami did a few years back.

    But if what you say about the urbanites is true, there would be a major social discord between city dwellers and rural folks. Major upheavals could be just beyond the horizon ....
     
  4. egeefay

    egeefay Senior Member

    Thailand has never had a stable government
    in the last 40 years they've had 13 coups...about 1 every 3 years
    So, I guess its about time for another one. ...like clockwork
     
  5. Maitam

    Maitam New Member

    Now even flights to various tourist spots in Thailand have been canceled!

    Channelnewsasia.com
     
  6. Sean@Phuket

    Sean@Phuket New Member


    Hi Maitam.

    Yes the situation in Thailand obviously does not look good right now.

    I if I can advise, I would say do not believe everything you read or watch on the news, even take egeefay' post a little lightly to be honest.

    I am hear in Phuket, where flights were canceled for about 24 hours, there was a very peaceful protest at the airport, nothing ugly, nothing sinister, I had some Thai friends go up there, the Thai people just want fairness.

    The problems in Bangkok are peaceful, there was one night when government supporters turned up to fight but that was just one night, I know foreign media are licking there lips at more political unrest, bad news sells of course, and showing all kinds of clippings of knife welding maniacs etc. but people should not believe this. The protest are limited to one street in Bangkok and that is it, nothing at Bangkok airport.

    My contacts around the hotels have said of numerous cancellations and less bookings for now, property wise for myself it is business as usual, my personal opinion is that there will not be a 'knock-on' effect here. Property prices are remaining the same with of course there annual increases etc.

    I hope I have been of help to you

    Sean
     
  7. Maitam

    Maitam New Member

    Thanks Sean.

    I am not really surprised to hear what you said, cause the media does have a tendency to sensationalize everything.

    Having said that, there is always a possibility of a self fulfilling prophecy occurring. The downturn might occur as a result of negative publicity, and not because of the demonstration,

    Having said that, I think the Thais are shooting themselves in the foot. The government was democratically elected, although I presume the city folks think there were votes buying?
     
  8. Sean@Phuket

    Sean@Phuket New Member


    Hey Maitam

    I totally agree about how Thais shoot themselves in the foot at times, sometimes I believe they shoot both feet, and also about the negative publicity but away from all the current troubles and previous troubles/problems Thailand still has and will always have a world class reputation.

    The various organisations here particularly the TAT, Tourism Authority of Thailand, do a fantastic job in maintaining Thailand's status as a 'dreamland' etc. People are drawn by the mystery of Thailand, and needless to say about the fantastic hospitality and beauty. Maybe citizens from particular countries will turn away but there is an abundance of people out there who will continue to come whether as tourists or to buy up properties etc.

    Thailand is situated in probably the most perfect place, right in the middle of all the continents, in everyone's reach.

    Interesting what you have said about vote buying, I believe this has been a very hot topic at times and a problem which the 'authorities' are aware of and if true, a problem they should sort out if they DO want a stable country and to not have to worry about continued foreign monies coming in!

    Of course Maitam these are just my opinions but yea, I think Thailand will always be ok...

    Thanks, Sean
     
  9. teddybare

    teddybare New Member

    Situation

    I think any opinion provided by any individual or organisation with an professional interest in the subject matter should be considered carefully.

    Ordinary residents might provide an accurate and unbais synopisis. Then again, that's subjective too.

    My own experiences tell me, Thai owed property won't be going down in price as they will just sit on it til the prices rises again. Foreigner held property will probably drop in price as people have to sell up if home funds become tight. The first people to get in on that action will be the rich Thai, who tend to be a fairly savvy bunch who know how to grease the palms of the middle party facilitator.

    The appointment of Taksin's brother in law, who's family have become very rich through the Taksin family, will not be an acceptable PM for the PAD. I am not sure the staying power of the PAD, but the guys behind paying for the mob are pretty rich and have a lot at stake. Ironically, they are as guilty of graft as the rest of the Thai politicians, they just didn't get as much opportunity in the Taksin government.

    Thailand is thwart with dangers to foreign investors, the whole system favours Thais. 'But thats unfair' I hear you cry. Well that's life, as is commonly said, TIT, This Is Thailand.

    Despite my cynical (clear) view, I will invest in Thailand, but carefully. I am sure there are many more countries with fairer and, more importantly, safer methods of buying property.
     
  10. Sean@Phuket

    Sean@Phuket New Member


    Interesting points teddybear, including your first line... :)

    However, to say 'the system' favours Thais I think is a bit harsh as from my experiences and of those of foreigners around myself, we are treated as equals...

    Sean
     
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