By Andrew Batt:
The Bank of Thailand yesterday ruled out the implementation of cooling measures to dampen speculation in the kingdom’s property market.
Governor Prasarn Trairatvorakul told the media there were currently no irregularities in the property market, adding that increasing demand was coming as a result of the introduction of recent government stimulus measures.
Some market watchers and analysts recently expressed fears of a possible oversupply situation. More than 200 projects have been announced by Thailand’s listed property developers, on top of the current predicted unsold inventory totalling more than 100,000 units.
Much of the demand for Thailand property is thought to be coming from end-users, with few buyers purchasing for investment purposes.
Cooling measures were introduced in Singapore last Friday to dampen the property market, but as revealed exclusively by DDproperty.com yesterday, this will result in more Singaporean property buyers and investors looking overseas – and at Thailand in particular.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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