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Remember many expats moved here on fixed incomes with no thought of currency exchange fluctuations or inflation and may now be forced to return home. Others because of the current political situation or dissatisfaction with living in Thailand or health reasons.  I also know a number of people that were employed in Thailand and bought houses/condo's on speculation using their savings.  They are now unemployed and trying to sell off properties.

If your looking to buy I would only purchase a resale property. Plenty of good houses and condo's under 3 million baht for sale.

The one thing many people fail to talk about is a looming water problem because of continued growth.  Many of the area's already have water problems because demand has been exceeding supply and some days may have only a trickle coming out the faucet.

Straydog has provided some great background concerning the exodus of foreigners from Thailand.  Many that were here shouldn't have been, because their budgets were too tight, with little room for FX fluctuations etc as Straydog has so correctly stated.

I have an article in this forum about the basics of property ownership in Thailand for foreigners (I have some 15 years Thailand advisory experience personally) READ IT.

I would also suggest you read my rather candid blog about Expats buying property and what you should be thinking about.  I make no apologies for its frank, no-nonsense, common sense content.  You can read it here:  [Moderated - No free advertising on the website]

There is also some other useful info in my site.  It is geared towards the UK Expat, but I think you will find some of the articles will provide some 'food for thought'.  If you end up saving yourself from a BIG mistake, then all I will ask is that you tell others about my articles and get them to check them out - Much of it is common sense irrespective of which country you are relocating to Thailand from.  Oh, and when you come over, drop me a line and we can meet for a beer. I am not gay but I am not a phobic either - the more expats fighting from the same corner the better eh! Good luck. Andrew.