Thailand’s property and real estate sector can expect little or no impact from Wednesday’s decision by the United States to increase its interest rates.
Phanom Kanjanathiemthao, Managing Director of Knight Frank Thailand, told Dot Property Group: “I do not believe that the U.S. interest rate rise will impact Thailand’s property market.
“There is very little correlation between U.S. interest rates and Thailand’s real estate market, even though there might be a small impact on capital markets.
“Thailand’s residential market is about 80 percent to 90 percent dependent on local Thai buyers, hence it is correlated to Thai interest rates, which are currently experiencing no change in monetary policy from the Bank of Thailand.”