Thailand’s Property sector grew 9% in 2009 Q4

Bank of Thailand (BoT) Deputy Governor Bandid Nijathaworn on Monday said the central bank has invited property developers to discuss and exchange information on the overall economy and the property business outlook since the sector, which accounts for 5 per cent of the gross domestic product (GDP), is considered a key to the country’s economic recovery.

He said the central bank and the property developers shared a view in common that the property sector tended to recover continuously from the previous year in tandem with the economic recovery since the fourth quarter of last year.

The sector managed to grow 9 per cent in that quarter, boosted by the economic recovery, business-sector confidence, state measures to stimulate the property business, and stiff competition in lending by commercial banks.

via Property developers invited to discuss economic and business outlook.