Brexit Could Trigger Island Property Slide

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RL Street Eater This is a story provided by a Real Life Phuket partner. It has been edited for clarity. For inquiries send an email to sale@reallifephuket.com

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Today’s shock Brexit exit has experienced a sudden and rapid reaction from global financial markets, as the pound has taken a literal pounding

The financial sector does not like volatility and the virtual Pandora’s Box of geopolitical fallout is likely to be a significant disruptor.

In Phuket, during the mid-2000’s the pre-GFC depreciation of the British pound was the turning point in a vibrant real estate cycle.

Given the currency is the bread and butter of many investors and also used by other property classes such as retirees or holiday home purchasers, a broad devaluation could have a potential negative impact.

As for tourism, one will have to look forward to the coming high season as the UK is a key Greater Phuket source market for snowbirds and the exchange rate between the pound and Thai baht do have a connection.

Pandora played a starring role today, but the economic fallout from the Brexit have undoubtedly captivated the world and taken front and centre stage.

Readers should assume the position and brace brace brace.

By Bill Barnett for C9hotelworks.com