Commercial Market Slide In Office,retail Rents Has Begun

[bingobongo]

the economy is doing well, nothing to see here except rainbows and unicorns

who cares as long as there is som tham and rambutan and sunshine.............

Colliers International Thailand's managing director Patima Jeerapaet said demand for office space, serviced apartments and retail space had fallen significantly in the current quarter because US and European multinationals were beginning to suspend business expansion around the world, including that in Thailand.

http://www.nationmultimedia.com/2008/12/25...ss_30091876.php

[tjo o tjim]

Slowing growth is not the same as shrinkage. Will be interesting to see what happens next quarter though.

[think_too_mut]

Slowing growth is not the same as shrinkage.

This was a sign that the property market could drop by 10 to 20 per cent in 2009, which would make it the worst tumble since the financial crisis in 1997.

[ray08]

"We believe that if the new govฌernment introduces measures to boost investors' confidence, the property market may recover in the secฌond half of next year," she said.

I like the above quote from the article , Boost investor confidence after a Coup, 4 different Prime ministers in 2 years , Airport closure, PAD and DAAD still around , etc etc, I would be suprised if this government is even in power by the second half of next year ,

For Investor confidence to return to Thailand it will take years ,not months , and some very real incentivtes in regards to company ownership, Visa isssues, Tax breaks, less red tape and so on,

With the commercial sector down this will have a flow on effect onto the residential market as well ,I do not expect any recovery in the short term ,IF government can remain stable and IF Thailand adapts a more open door policy i would imagine late 2011-2012 before a recovery , but there are 2 big IF,s There