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Fears “Brexit” can trigger property slide in Phuket

Bill Barnett of C9Hotelworks fears that the “Brexit” can trigger an island property slide as the pound has fallen.
BillBarnett_profile“The financial sector does not like volatility and the virtual Pandora’s Box of geopolitical fallout is likely to be a significant disruptor”, write Barnett in an update.

160625GBPTHBIn 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.

 

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