Bangkok Property Journal – Theres luxury, and then theres super-luxury. The difference is in the details, as Bangkoks high-end condo market splits into two tiers.
Read the original here:
Bangkok condo market
Some observers are concerned that the 2008 global financial crisis may affect the Thai real estate market. Many see similarities between the current US crisis and the 1997 Thai crisis, particularly in the role played by an over-built real estate sector. To properly analyze the 2008 global financial crisis’s impact on the Thai real estate market, we should first look at the current Thai real estate environment. The Thai real estate industry has grown significantly since the 1997 financial crisis. Although speculation is prevalent in some sectors, we have not experienced a 1997 bubble-like boom. Generally, a real estate bubble occurs when property prices rise quickly in a short period, primarily from speculation – resulting in a supply-and-demand imbalance. When property prices are rising faster than the cost of money and banks continue increasing loan-to-value ratios, funding becomes easier – propelling additional speculation.
Real estate developers in 2009 are more cautious and many have professionalized their operations. Compared to 1997, of them are able to respond much more quickly and many of them have developed and implemented market research technologies and monitor the market closely. As a result, the financial condition of most major housing developers is much more robust than in the past. The development of the local bond markets and increasing domestic savings has the made the industry much less dependent on foreign funds, a significant difference from 1997.
The real demand for residential real estate stems from local residents and foreigners living or working in Thailand. The latter group will definitely be affected by the weak global economy but what about local Thai residents? The Thai domestic economy will also be adversely affected by the crisis, especially the export sector. The investment sector and domestic consumption in Thailand Real Estate Market will also be affected by political instability – resulting in lower sentiment and confidence. Potential home- buyers will have less money for down payments and may delay purchasing decisions.
Chinese vote 14 Thai tourism favourites
The 2017 People’s Choice Awards Thailand were based on 3.7 million votes cast during a two-week period.
Thai baht hits new record high in two years
The Thai baht is one of the best-performing currencies in the region this year, rising about 5% against the dollar.
We’ll Live to 100, but Can We Afford It?
As the quality of healthcare has increased during the past century, so too have global life expectancies – but new generations will pay a high price for living longer.
The world’s six largest pension systems will have a joint shortfall of $224 trillion by 2050, imperiling the incomes of future generations and setting the industrialized world up for the biggest pension crisis in history. (more…)
Thai Economy likely to miss the 3.5% growth target
Deputy Prime Minister Somkid Jatusripitak said the global economic slowdown hasweakened exports and reduced domestic consumption
Google shuts down Huawei’s access to Android updates after US blacklist
Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates...
Drivers of Asia Pacific office space demand in 2019 remain strong
More employers plan to increase rather than decrease staffing levels in most Asia Pacific countries, with employers in Japan reporting...
First-home stimulus measure may have limited impact on Thailand’s housing market
The first-home buyers who make less than 25,000 baht per month however will not benefit from this scheme.
Real-time payments : An opportunity for the entire Asian financial ecosystem ?
Real-time payments (RTPs) are critical for bringing millions of people into the digital financial ecosystem, enabling the rise in the...
- Tech5 days ago
Thailand to use Biometrics scan to identify travellers
- Tourism2 weeks ago
Thailand extends free visa-on-arrival until 31 October 2019
- Business2 weeks ago
Political uncertainty weighs on Thailand’s consumer confidence
- Property1 week ago
Property slowdown looms over Thai market
- Business6 days ago
Thailand cooperates with Indonesia to push creative industries
- Corporate1 week ago
Challenges and opportunities await Thai businesses to reduce plastic use
- Corporate1 week ago
Flexible workspace key role in company’s success
- Real Estate6 days ago
Thai Property market : condo launches to slow to 61,000 – 64,000 units in 2019