Gradual recovery expected for residential market

[webfact]

Commercial property and residential condo buildings are pictured in Bangkok. (Photo by Alex OGLE / AFP)

 

Thailand’s residential market will gradually improve next year due to more balanced supply and demand and the easing of housing loan regulations, but the full recovery to pre-pandemic levels will not happen until 2023, experts say.

 

“We’ve seen positive signs at the end of this year and we expect to see a recovery in the Thai property market in 2022. Prices have not increased much and there is no oversupply. Developers can attract so-called “real demand” buyers who have purchasing power as well as long-term investors,” Kamolpat Swaengkit, Country Manager Thailand of DDproperty.com said at a virtual press conference on the market outlook in 2022.

 

Despite the favorable factors, she cautioned that economic uncertainty remained. “It very much depends on the pandemic situation especially after the arrival of Omicron variant, and how Thailand handles it.”

 

Full story: https://www.thaipbsworld.com/gradual-recovery-expected-for-residential-market/

 

-- © Copyright Thai PBS 2021-12-23

 

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[mikebell]

52 minutes ago, webfact said:

Thailand’s residential market will gradually improve next year due to more balanced supply and demand

This propaganda is reaching TAT proportions!  There are rows of empty houses/shops up for sale or rent in the Ghost Town formerly known as Pattaya.  There are lots of building sites busily hiding money that cannot be put in a bank.  My Economics studies suggest, therefore, that there is very little demand and huge oversupply.  When you factor in the increasing likelihood of a ban on any invasion of foreign buyers, there will be very low prices for years to come.

[ChrisY1]

"a more balanced supply" whatever that means....there's still 250,000+ condos for sale!

[medina21]

"No oversupply"? Farcical. Bangkok is awash with empty condos. In my building, completed in 2017, and in a prime location, the developer still has around 20 units to sell at a 20% discount on the original prices. I asked them if they had any units on higher floors. They said, 'no'. I now discover they have two units on my floor. You cannot believe a word the sales people tell you. Even the juristic office 

doesn't know the real figure. Add in  private sales and I reckon that 20% of the building is for sale.  I know of Thai owners trying to sell at a 20 % loss. This situation is repeated in condo towers across Bangkok. It's the same in Cha Am, Hua Hin, Pattaya et al.

Edited December 23, 2021 by medina21
spelling

[trainman34014]

Dirty Money will ensure that the surplus Property listings will continue to get higher and until they even try to stop such rempant Corruption in the country then the 'Bubble' will continue until one day.....'POP' !

[connda]

On 12/23/2021 at 10:10 AM, mikebell said:

This propaganda is reaching TAT proportions!  There are rows of empty houses/shops up for sale or rent in the Ghost Town formerly known as Pattaya.  There are lots of building sites busily hiding money that cannot be put in a bank.  My Economics studies suggest, therefore, that there is very little demand and huge oversupply.  When you factor in the increasing likelihood of a ban on any invasion of foreign buyers, there will be very low prices for years to come.

For Sale (Kai) is one of the most popular signs posted thought out Chiang Mai.  People are attempting to sell at a loss and there are not takers.
Hello 1997!