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Labour Shortage hampers Real Estate Business in Thailand

Thailand faces a labour shortage of hundreds of thousands of labourers, contributing to a slowdown of new real estate projects

Daniel Lorenzzo

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Real estate business operators are concerned over labour shortage after the government’s infrastructure investment projects get started next year. Issara Bunyang, chairman of the Housing Business Association, said housing construction as an industry employs more than three million workers.

Currently, it faces a labour shortage of hundreds of thousands of labourers, contributing to a slowdown of new real estate projects. He said the problem is likely to become aggravated next year when the government’s infrastructure investment projects such as water management projects and construction of electric mass transit systems, and expressways will get a start.

Bangkok construction site

Thailand faces a labour shortage of hundreds of thousands of labourers, contributing to a slowdown of new real estate projects

 

Mr Issara advised the government to negotiate with foreign governments to import workers from abroad–for example from Bangladesh–in addition to existing agreements on imports of foreign workers from Laos, Cambodia and Myanmar.

Regarding housing prices, Mr. Issara said prices are likely to rise by 5-10 per cent due to the increase of construction materials and daily minimum wage. (MCOT online news)

 

via Real estate business urges gov’t to help solve labour shortage | MCOT.net.

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