Despite some media reports to the contrary, the current political tension in the Thai capital is having a dramatic effect on the property and real estate sector in Bangkok.
Speaking to the media yesterday Kittisak Jampathipphong, Chief Executive Officer (pictured) of Century 21 Realty, said his company has seen a 30-40 percent drop in sales activity during the last two months.
He added that the number of clients that his company takes for viewings at project sites around the city has dropped by half. He predicted that if the current situation continues it could stall potential growth and see demand reach a two-year low.
Less than 10 new projects have been launched to the market since the start of the year, and Kittisak confirmed that Century 21 itself has postponed planned March launches to Q2 and even Q3 in light of the current instability.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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