No sign of recovery in Thai property market due to shrinking demand and political unrest, industry w

[Nicholas Wallwork]

Real estate prices in Thailand are unlikely to recover for some time as shrinking demand for property has led to oversupply with many developers forced to freeze projects. * * Like many other global property markets that have a high percentage of foreign property investors it is lack of finance and concern over unemployment that is creating a general lack of confidence in the markets. But in Thailand there are also concerns about political unrest.

As a result TRIS Rating, the Bangkok based credit rating agency, has described the country’s property sector as unstable and said it is likely to remain so for at least the rest of the year. The National Economic and Social Development Board (NESDB) has already forecast that the Thai economy will shrink by 2.5 to 3.5% this year.

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[Sean@Phuket]

Get your facts right before posting please. People have their livelihoods at stake ok.