After meeting with seven developers yesterday for a discussion on industry trends as well as political impacts, the central bank concluded that there was yet no sign of an asset bubble. The real-estate industry now generates 5 per cent of gross domestic product.
Bank of Thailand Deputy Governor Bandid Nijathaworn said after the meeting that the industry enjoys continued expansion in line with the overall economy.
Last year, supply and demand both expanded by 9 per cent, thanks to the global economic recovery, tax incentives and commercial banks heavy lending activities. Still, as industrial growth is gradual, there is no sign of a bubble.
Despite the political unrest, no developer has revised its investment plan, but it is difficult to estimate the demand side, he said. However, demand is mostly driven by the economy's direction.
Political impacts could dull consumers’ appetite, he said.
Bangkok 7th World Most connected city to China
Bangkok also ranks 3rd in terms of the volume of Chinese corporate leasing activity over the last three years, according to a new report from real estate consulting firm JLL.
While China’s biggest corporates are increasingly flexing their global muscle as the country’s economic and geopolitical influence accelerates, Bangkok is the 10th most popular destination for mainland firms expanding overseas. (more…)
Thailand’s Special Economic Zones (SEZ) and new opportunity connected
The SEZ policy was first launched in 2015 based on the government’s belief in the strong potential of the 10 areas to connect with the neighboring countries in terms of trade, economy and investment
With its strategic location in the center of ASEAN with emerging markets, including Cambodia, Laos, Myanmar, Malaysia and southern China, on its border, Thailand is well position to connect investors to new opportunities arising from the increasing border trade and the region’s rapid economic growth.
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