Thai property guru gives 2024 predictions

[stratocaster]

Interesting interview from a Thai property guru on Thai TV regarding the 2024 forecast in Thailand, although it is Bangkok biased. Used property will be the driving force for 2024 with townhouses as number one, followed by detached property as number two, with condos at number three. Interested fact I never released is that financial lenders previously give 100% on new property but only 60/70% on secondhand property which could dispel the myth that Thais don't buy second hand property due to ghosts etc. It's purely a financial consideration. Lenders are being forced by the bank of Thailand to for 70% on new and second hand property, but I am sure developers will have a system in place to make up the 30% short fall.  He predicts an uptake in used property due to older property being larger and have a better build quality. There is a significant number of buy to let investors realizing that moving their assets to a more advantageous ROI, ie selling up. Companies specializing in foreclosures are due to release more property in 2024 at a reduced margin to compensate for their reduced income level 2023.