Thailand's GHB expects the real estate sector to grow 5 percent this year

[webfact]

GHB expects the real estate sector to grow 5% this year

BANGKOK, 24 March 2015, (NNT) - The Real Estate Information Center (REIC) under Government Housing Bank (GHB) has forecast that the real estate sector will expand by 5 percent this year.

REIC Director Samma Kitsin said the sector’s overall outlook appeared favorable during the first three months of 2015 and would contribute to the growth rate.

Mr. Samma claimed that the key factors responsible for the positive performance included the government’s various infrastructure projects, the recovery of the local economy, and the declining fuel price and benchmark rate. He said these conditions have helped public spending in the real estate sector.

The director cited a GHB study, which said that most Thais want to own a single house,but do not have sufficient funds. He said that these individual are likely to consider condominium unit or a townhouse as their first piece of real estate property.


-- NNT 2015-03-24

[trogers]

Sorry, I disagree. Why?

Prices of condos and household debts have both risen too high.

But if you were to change the law and make young children responsible for parent's debt...

Edited March 24, 2015 by trogers

[Tatsujin]

So, REIC, GHB and TAT all use skewed "polls" and made up numbers now ... what a surprise ... is it only the Thai's that fall for this crap?

[worgeordie]

Just keep on building them,and they will come

or export some houses to UK there is a shortage there.

regards Worgeordie

[jethro69]

I can see the "grow", with new buildings just everywhere. They build a ~100 apartments just next where I live, I did not yet see one single light during nighttime, tells me they are all empty. They build a lot of little shops in front of that building, they offer now to drop the rent for the rest of the year as nobody rent it.

Just waiting until the debts have to be served, that will be fun, but not for the banks.

[SoilSpoil]

Wasnt the Thai economy in dire straits?

[Fiddlesticks]

Yup, sales in units are down so the Thai will respond by raising prices. The net effect will be a 5% increase!

[kotsak]

Laundry businesses always need a safe place to park their money..

[trainman34014]

By growing he means the amount of new concrete covering paddy's which then become shop houses that stand empty for five years owing to oversupply. They just keep on building and the bubble is getting bigger by the hour, so stand by for a big 'pop' at sometime in the future.