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Industry sees confidence rising |
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Thursday, 31 January 2008 |
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source: Bkk Post
The property industry is confident that the formation of the new government will
lead to a gradual recovery of the real estate market and consumer confidence by
the third quarter of the year, says Somchao Tantaterdtham, president of Thai
Real Estate Association.
He said foreign investors remained interested in entering the property business
in Thailand and some were looking to acquire large land plots in prime areas in
the country for development.
In the first quarter, the property market would be stable as there were a few
long holidays and the political direction remained unclear, Mr Somchao said.
''This is a good time to buy a house before prices rise after the economy picks
up,'' he said. ''Many developers have been trying to cap prices since last year
to attract demand that has been slowing.''
Prasong Owlarn, the president of the Housing Business Association, said the new
government would be able to regain confidence among investors, developers and
consumers. He foresees more economic activity starting in the second quarter,
which will have a positive impact on real estate in the second half.
The Housing Business Association, Thai Real Estate Association and Thai
Condominium Association will stage the 18th
House and Condo Fair from March 13-16 at the Queen Sirikit National
Convention Center.
The fair is normally held in April but the organisers want to stimulate the
market sooner.
The fair will cover 11,000 sq m with displays of around 600 projects from 150
developers, plus non-performing assets held by financial institutions.
Commercial banks will offer attractive home-loan packages with speedy approvals.
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