Despite the sluggish economic conditions in Thailand, record prices for both condominiums and land were achieved during the first half of the year.
In its latest Asian Snapshot research report for Q3 2015, real estate firm Colliers said the overall Thai economy is growing at a slow pace due to both domestic and international factors. The government has been continually revising downwards its estimates of economic growth in 2015, from an initial high of between 3 percent and 4 percent to between 2 percent and 2.5 percent today, while consumer confidence continues to weaken.
Nevertheless it said domestic liquidity remains reasonably high, and many of the country’s key economic indicators (including its current accounts, international reserves and export performance) are doing better than many peer nations in the region.
Key concerns remain political stability, foreign investment trends, currency fluctuations and domestic demand.
Colliers said that during the first half of 2015, Thailand’s property and real estate sector remained fairly buoyant due to high liquidity in the market along with pent-up demand filtering in to the system, with a large number of project completions.
It reported that activity was particularly strong at the high-end of the market, with record prices achieved for both condominiums and land.
It added that the low- and middle-income property markets have started to show signs of stress due primarily to high levels of household debt and low commodity prices.
Read to full Colliers Asia Snapshot Q3 2015 report here.
