Bangkok Overall MarketView Q4 2018
20 Mar 2019
Bangkok Overall Property Market, Q4 2018
The overall condominium market continued to slow down in Q4 2018, following a series of cooling measures announced by the Bank of Thailand including new mortgage lending curbs and the recent interest rate policy hike to 1.75%. New residential mortgage loans and property transfers are expected to reach a peak point in the coming months as developers accelerate project completions to clear unsold inventory before the new regulations come into effect in April 2019. Speculative demand from both foreign and local buyers will likely shrink due to current economic conditions, forcing developers to shift their focus towards Thai end-user buyers.
Several publicly-listed developers have launched year-end promotion campaigns to clear unsold inventory before the new mortgage regulations come into effect. Other developers have relied on Chinese buyers who are not affected by the mortgage regulations, but we believe sales to Chinese buyers have also tumbled with China’s economic slowdown and possible a change in Chinese sentiment towards Thai property.
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