Low End Thai Property Shows Possible Recovery, High End Ails

2009 seems to have had a positive start for some overseas property destinations, including Turkey and Thailand.

Yesterday, Turkey property specialists Spot Blue posted figures to their blog that show a marked interest in Turkey property from people around the world in the first two months of 2009, when compared to the last two months of 2008.

And one of the biggest developers in Thailand Preuksa Real Estate Plc's sales doubled to Bt900million in January, from just Bt400million in December, and grew to Bt1.3billion in February, according to their chief operating officer Prasert Taedullayasatit in a Bangkok Post interview.

Things seem to be improving across the board in the lower end of Thailand's real estate sector, with up to 20 new developments launched this year so far, it seems some parts of Asia may be as quick to bounce back as they were to fall.

Other parts however do not seem so bouncy: high end condominium developer Raimon Land has frozen all new projects it planned to initiate this year, and is reviewing its development strategy.

High end condominiums were primarily being sold to foreigners, who are now forfeiting deposits if they can, and selling up if they can't as the European recession looks to get worse before it gets better.

And so I say it again: Overseas Property Investment: Affordable Housing for 2009