Interest from overseas buyers and investors in Thailand property rose dramatically according to data from a leading United Kingdom-based overseas property website.
Data on searches on TheMoveChannel.com and reported in its monthly Top of the Props report showed Thailand had risen two places to occupy fourth place of all global property searches, accounting for 3.61 percent of all searches and only beaten by traditional overseas property destinations Spain, the United States and Canada.
Spain reigned at the top of the table but investors were mainly looking outside Europe in June 2015. Spanish property is now the most sought-after in the world, despite falling demand for other European destinations, as concerns surrounding the Greek bailout crisis spread.
Spain’s share of enquiries edged up by 0.02 percentage points to 6.68 percent in June 2015, enough to seize the top spot from the USA. U.S. property’s share of enquiries slipped from 8.49 per cent in May 2015 to 6.07 percent in June 2015. While both American Spain have been at the top of buyers’ shopping lists for some time, though, the rest of TheMoveChannel.com’s Top 10 destinations change often.
As buyers turned away from familiar faces, interest grew in attractive alternatives elsewhere around the world.
Canada, which has been in the top 10 for the past three months, climbed from ninth to a new peak of third place: the country accounted for 3.71 percent of all enquiries on TheMoveChannel.com in June 2015.
Australia also enjoyed an all-time high level of popularity, entering the Top of the Props top 10 for first time in 15 months. The country’s share of enquiries jumped from 1 per cent in May to 234 per cent, surpassing its previous peak of 1.92 percent, recorded in February 2014.
After tussling with Turkey for investors’ attention, Thailand re-entered the top five destinations again, establishing it once more as a favourite investment hotspot outside of Europe. The country rose two places from sixth to fourth, accounting for 3.61 percent of enquiries. Turkey, on the other hand, slid from fourth into eighth, as its share of enquiries fell from 4.26 percent to 2.6 per cent.
Elsewhere in Southeast Asia, the Philippines enjoyed a notable rise in interest as the country climbed into 14th place from 18th, with a 0.89 percent share of activity.
On a six-monthly basis, though, a more consistent pattern can be observed: the top five most popular countries on TheMoveChannel.com in H1 2015 were Spain, USA, Portugal, Brazil and Italy. The Top 10 was completed by Thailand, France, Turkey, Bulgaria and Canada.
“Fluctuating sentiment in the run-up to Greece’s bailout deadline has resulted in the most diverse Top of the Props chart in recent memory,” said TheMoveChannel.com Director Dan Johnson.
“Eurozone property has been extremely attractive in recent months for buyers willing to overlook any uncertainty and take advantage of the weak single currency and low prices.
“Spain’s sunny Costas, though, were appealing enough to withstand the spreading worry. Spain suffered the least dramatic decline, with its enquiries falling 24 percent. The country was the only Eurozone destination in June’s top five; a testament to the market’s resilient appeal.
Johnson added that the presence of Thailand and Canada in the H1 Top 10 emphasised their established popularity among buyers in 2015, but Spain’s reign is not over yet.