Thai Residential Property Market Still Unstable
As per a recent survey, Thailand’s residential property market is still unsteady and would continue to be so for the second half of 2009.
In spite of a lot of hard work by the Thai government to encourage the financial system, there is no pressing end visible around the corner for the recession and slow demand for residential property would go on for the near future.
The recent survey conducted by a credit rating agency said the fall is due to a shortage of Thai customer buoyancy; the expenditure capacity of soon to be residential property purchasers; financial downturn; rising unemployment; the stock market fall and political turbulence.
The survey also revealed that the above mentioned aspects have together destabilized consumer buoyancy in Bangkok and in another places in the country. The National Economic and Social Development Board have previously predicted that the Thai financial system will reduce in size by nearly 2.5% to 3.5% by the end of final quarter of 2009.
Domestic residential property developers would carry on experiencing a weak point in the market, particularly in the single house and townhouse sectors for the second half of 2009.
They also stated that new condominium establishments had gone down and the consequence of this would be just a small number of establishments in 2009 to that compared with 2008.
The survey also revealed that its credit rating of residential property developers for 2009 had also been modified. It would support its ratings on the capability of administratives to become accustomed to the new business atmosphere; economic regulation; liquidity; administration potential; good connections with financial firms and strong hold up from parent firms.
In spite of a lot of hard work by the Thai government to encourage the financial system, there is no pressing end visible around the corner for the recession and slow demand for residential property would go on for the near future.
The recent survey conducted by a credit rating agency said the fall is due to a shortage of Thai customer buoyancy; the expenditure capacity of soon to be residential property purchasers; financial downturn; rising unemployment; the stock market fall and political turbulence.
The survey also revealed that the above mentioned aspects have together destabilized consumer buoyancy in Bangkok and in another places in the country. The National Economic and Social Development Board have previously predicted that the Thai financial system will reduce in size by nearly 2.5% to 3.5% by the end of final quarter of 2009.
Domestic residential property developers would carry on experiencing a weak point in the market, particularly in the single house and townhouse sectors for the second half of 2009.
They also stated that new condominium establishments had gone down and the consequence of this would be just a small number of establishments in 2009 to that compared with 2008.
The survey also revealed that its credit rating of residential property developers for 2009 had also been modified. It would support its ratings on the capability of administratives to become accustomed to the new business atmosphere; economic regulation; liquidity; administration potential; good connections with financial firms and strong hold up from parent firms.
Labels: residential property developers, residential property purchasers, Thai residential property market
Posted by Moveandstay
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