No ‘stimulus’ for property sector, says Uttama

By THE NATION

 

Uttama

 

Finance Minister Uttama Savanayana has insisted that the real estate sector can cope economically on its own without the government’s help.

 

Speaking at a realty seminar hosted by the newspaper Krungthep Turakit on Thursday, he said the sector could readily adjust to the Bank of Thailand’s loan-to-value (LTV) policy on mortgage loans that took effect on April 1. 

 

He also pointed out that the Thai economy continues to expand.

 

The government’s latest economic stimulus packages are aimed at helping revive the grassroots economy, and that should in turn benefit to the property sector, Uttama said.

 

The Bt316-billion stimulus package approved by the Cabinet on August 20 focuses on cash handouts for low-income earners and domestic travellers and extends soft loans to drought-afflicted farmers.

 

Uttama said that, once the US-China trade war ends, the Thai economy will expand at a faster rate. 

 

He predicted that, regardless, GDP growth will reach 3 per cent, as forecast by the National Economic and Social Development Council.

 

He asked everyone involved to help build public confidence in the economy despite any challenges that might arise.

 

Source: https://www.nationthailand.com/business/30375211

 

-- © Copyright The Nation Thailand 2019-08-23

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The Thai economy is expanding alright the London property market and Zurich vaults are bursting on the value of the inflated baht ????

20 minutes ago, webfact said:

He predicted that, regardless, GDP growth will reach 3 per cent, as forecast by the National Economic and Social Development Council.

Sure !

Allowing insane over development was approved by ???

9 hours ago, webfact said:

Finance Minister Uttama Savanayana has insisted that the real estate sector can cope economically on its own without the government’s help.

Has the real estate sector received any direct government subsidies - no.

But it has received a government stimulus of a sorts.

• The new Land and Building Property Tax that was to go in effect in 2019 was delayed, allegedly by the Prayut regime until after the February (then March) 2019 elections, then further delayed until 2020.

I don't see appetite in the majority pro-military parliament coalition to allow it to apply in 2020 (unless the baht is forecast for a significant depreciation).

There has been also an indirect stimulus from the Prayut government's investment in various new infrastructure and the Eastern Economic Corridor. Such projects invariably and predictably attract adjacent commercial development that increases land values.

Finally, albeit very indirect, the government's and BOT's economic policies have fueled the SET that can indirectly benefit real estate funds and listed ventures. For example, government subsidized new home purchases and subsidized home mortgages.

exactly what it is. use the funds for infrastructure and development for people of Thailand.

instead of some selected rich privileged property tycoons!

Couple of football clubs for sale in England if you are interested

8 minutes ago, ChipButty said:

Couple of football clubs for sale in England if you are interested

Please,anybody buy Newcastle United,please,please.

regards worgeordie

2 minutes ago, worgeordie said:

Please,anybody buy Newcastle United,please,please.

regards worgeordie

You're going to win the league this season