Thailand’s property and real estate market will recover in the latter half of this year, according to the kingdom’s Real Estate Information Centre.
Samma Kitsin, Director-General of the organisation, revealed that condominium sales in dropped 40 percent year-on-year during the first four months of this year. Home sales overall dropped by between 5-10 percent, he noted.
During the January-April period, 126 housing projects with 30,000 units were launched for sale in Greater Bangkok, compared to 144 projects with 44,000 units during the same period a year earlier.
Samma said that following the coup, the National Council for Peace and Order is already taking steps to drive the economy forward. He cited the push for the disbursement of the 2014 fiscal budget as an example.
He added the military junta’s creation of a road map, with input from the industrial and business sectors, is benefiting businesses and consumer confidence.
With these circumstances, he said that he believes the property market will shortly begin to recover.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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