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.
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A slowdown in the condominium market has encouraged major residential developers to consider diversifying their portfolio into other property sectors such as office, hotel, and serviced apartment.
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E-commerce is becoming easier and faster, making it increasingly popular. Recently, Instagram introduced a shopping feature that allows users to purchase products within the app.
Social media is transforming retail and expanding the e-commerce world. It goes without saying that the presence of social media in any retail store is critical to its marketing and sales reach.(more…)
Record low sales rate hits Bangkok condo market
Bangkok hit a decade-long record for new condos entering the market, with 65,000 new units launched throughout 2018, but the sales rate fell to a 15.7% record low.
The sales rate for new condos launched in Bangkok in the second quarter fell to 15.7 %, an all-time low, beating the lowest previous quarter (35%) in 2010 when the “red shirt” political crisis brought Bangkok to a standstill.(more…)
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