How rising interest rates are impacting Bangkok’s residential market
Rising interest rates and housing affordability challenges are impacting Bangkok’s residential market, leading to a decrease in pre-sales rates and mortgage rejections for units priced under THB 5 million.
Thailand no longer top spot for Chinese real estate investors
China’s economic problems, including high youth unemployment, declining exports, and a real estate crisis, have led to concerns about stagnation in its economic growth.
Thailand plans to Boost Tourism Revenue by Easing Visa Rules
The current visa application process for Chinese tourists is costly and cumbersome, while Indian travelers have to pay for a visa on arrival. The government aims to increase revenue from foreign tourists to 3.3 trillion baht next year.
Thailand Elite visa membership fees set to increase
Thailand Privilege Card Co (TPC), the operator of the Thailand Elite membership program for foreigners, is planning to revamp its packages and increase prices.
The central bank has also set a goal of reducing Thai household debt to less than 80% of GDP to reduce financial and economic risks. As of the fourth quarter of last year, household debt stood at 15.1 trillion baht, accounting for 86.9% of GDP.
Foreign buyers are back in Thailand’s property market
Foreign buyers typically have higher budgets than Thai buyers, preferring to live in main business districts and along the banks of the Chao Phraya River.
Move Forward minimum wage increase policy under scrutiny
According to Move Forward, the current minimum wage is not enough to cover the basic needs of workers, especially in light of the rising cost of living and the economic fallout from the COVID-19 pandemic
