'Trend' of the Thai property market for the year of the pig
CBRE, a leading global property consultancy company Revealed the trend of the year 2019 that the real estate market in Bangkok will change dramatically. Both the slowdown in the market in many ways Many new real estate and supply sectors that are going to market Competition in finding a permanent land or freehold land in a rare location in the city center continues to persist. However, new requirements Including Bangkok city plan The new announcement that will be announced in 2020 will affect the decision of the property developer to re-evaluate the situation. The Thai property market will face many changes. Including more stringent control measures for housing loans Upcoming elections this year Including new land and building taxes And the new city plan of Bangkok The new city plan of Bangkok And new taxes on land and buildings that are expected to be announced in 2020, still in the planning stage and not yet completed The obvious changes are expected to occur in the location of the connection point of the BTS route. The upcoming elections on March 24, 2019 will also affect the economy and infrastructure development in Thailand as well.
Export and tourism market Which is an important business sector for pushing the Thai economy Will face many challenges this year Regardless of the war of trade between the United States and China, which is not yet clear whether it will affect the Thai export industry in a positive or negative way. As well as attracting Chinese tourists back to Thailand in the aftermath of the Phuket cruise ship, is still the most challenging issue for the tourism sector. Chinese tourists during the Chinese New Year season will help indicate the attitude of Chinese tourists. Towards Thailand CBRE believes that the tourism market in Bangkok Will be able to quickly recover to its original state even though it is affected by the decrease in the number of Chinese tourists As many political unrest Times in the past That can recover back to be stronger than before Demand from speculators and investors who buy to rent will decrease. Due to higher condominium prices from land costs Higher interest rates And the additional down payment as specified by the Bank of Thailand Making it more difficult to generate profits from renting and selling to condominiums that are under construction The market will return to focus on those who buy for their own residence and sell the remaining units for sale in the completed project. Due to the declining domestic demand, project developers turn to focus on foreign buyers who use their own funds to buy condominiums. But if relying mainly on foreign buyers It may be uncertain whether these foreign buyers will transfer ownership or not when the project is completed. As well as those who will be living in those units who will be in addition, foreign buyers are also sensitive from the economic conditions in their own country as well.
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