Brad the Impala
May 28th, 2007, 03:18
Property market goes into decline
(Agencies) - With consumers feeling gloomy over the outlook of post-coup Thailand, the kingdom's nearly six-billion-dollar housing market has shrunk for the first time since 2000, industry experts say.
"People are delaying buying property due to a lack of confidence in the economy and politics," said Atip Bijanonda, president of the Thai Condominium Association.
Sales in the residential property market, worth 200 billion baht ($5.8 billion), dropped by 10 billion baht in the four months to April this year, marking the first decline since 2000, the association said.
The figure has rattled the industry, which saw demand nosediving during the 1997 Asian financial crisis.
Atip said he expected more bad news with Thai consumer confidence stuck at a five-year low.
http://www.bangkokpost.net/breaking_news/breakingnews.php?id=119022 (http://http://www.bangkokpost.net/breaking_news/breakingnews.php?id=119022)
Incidentally, surely the thread comparing the bubble bursting in Florida condominiums with the Thai condo bubble, should have been allowed to remain on the Gay Thailand forum.
Easy to second guess the moderator I know, but not always easy to follow the rationale.
(Agencies) - With consumers feeling gloomy over the outlook of post-coup Thailand, the kingdom's nearly six-billion-dollar housing market has shrunk for the first time since 2000, industry experts say.
"People are delaying buying property due to a lack of confidence in the economy and politics," said Atip Bijanonda, president of the Thai Condominium Association.
Sales in the residential property market, worth 200 billion baht ($5.8 billion), dropped by 10 billion baht in the four months to April this year, marking the first decline since 2000, the association said.
The figure has rattled the industry, which saw demand nosediving during the 1997 Asian financial crisis.
Atip said he expected more bad news with Thai consumer confidence stuck at a five-year low.
http://www.bangkokpost.net/breaking_news/breakingnews.php?id=119022 (http://http://www.bangkokpost.net/breaking_news/breakingnews.php?id=119022)
Incidentally, surely the thread comparing the bubble bursting in Florida condominiums with the Thai condo bubble, should have been allowed to remain on the Gay Thailand forum.
Easy to second guess the moderator I know, but not always easy to follow the rationale.