By Nikki De Guzman:
Bangkok Commercial Asset Management Co., Ltd. (BAM) has confirmed that there are no signs of property bubble, citing low Nonperforming Loans (NPLs) at two percent and stricter loan rules by banks.
In Q1 2013, the real estate sector witnessed continuous growth, surpassing the previous year’s record of 30 percent in terms of house and condominium development, according to BAM President Krit Sesavej. He noted that no sign of real estate bubble has been detected, while the volume of house deed transfers was almost similar with that of new ones.
Moreover, Krit expects NPLs to remain low at two percent.
Aside from raising home down payment, banks have also taken a cautious stance with their lending to prevent speculation. He also down played the possibility that the central bank may introduce new measures to curb second-home buying.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg
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