Thailand Property Outlook – Property broker and consultant Harrison has announced it will organise a grand sale offering discounts of up to 50 percent in an effort to close sales on 4 completed Bangkok projects that are already more than 80 percent sold.
Originally posted here:
Broker to offer 50 percent discount at 4 Bangkok condominium projects
Other factors that indicate the 2008 Thai real estate market is not experiencing a bubble- like boom include: Property prices have not changed dramatically in most areas. Interest rates are continuously rising In the overall housing market, speculation is not significant even though there is some speculation in condominium markets and tourist area properties. Low consumer confidence because of unstable political and economic environments. Global Financial Crisis discourages overall property speculation
Falling consumer confidence : The slowing global economy together with unstable local political and economic environments will result in falling consumer sentiment and confi- dence in Thailand. Consumers will delay home purchases because they will be unsure of current and future incomes – directly affecting real estate demand. The general public will also begin losing confidence in the financial sectors, although not as severely as in foreign countries. Lower construction costs : The slowing global economy will result in lower construction materials costs as global demand for these materials decreases. Investors and speculators become sellers : Although current investment and speculative demand is still low, it is prevalent in some condominium-markets and tourist- property categories.Speculators expect to generate profits from price appreciation. If prices do not appreciate as expected on Thai Real Estate Market, they become sellers.ris
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.
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