Mortgage lenders and business operators have expressed confidence that Thailand’s real estate sector will recover by the second half of this year and grow continuously afterwards.
Kitti Patpongpibul, the President of the Housing Finance Association, stated that an improvement in the nation’s consumer confidence during the last few months would benefit the real estate sector.
He expects the sector to grow by “leaps and bounds” during the next few years, given house prices remain relatively low as well as the fact many real estate developer have been pushing for the sales of their property.
The Association President also maintained that the real estate sector would be able to expand by 10 percent in 2015 and continue to grow at that pace for the next 3-5 years, thanks to stronger economic fundamentals and the government’s plan to invest in mega-projects aimed at improving the country’s infrastructure.
Image: Prospective buyers at a recent property show in Bangkok. (C) DDProperty.com
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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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg