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Housing Price to Rise by 4-8% in New Year, Builders’ Group Says

By on Dec 14, 2012 in Property News

The Home Builder Association expects housing prices next year to rise by 4-8 per cent because of rising costs of raw materials and wages along with the shortage of labour.
Patchara Tantayanyong, president of the association, said the overall value of the home-building market would total around Bt10.2 billion this year, lower than targeted, partly because of the labour shortage.

The market in 2013 will have the same value as this year. Meanwhile, average housing prices will rise by 4-8 per cent. The average budget for building a house will be around Bt3 million to Bt5 million.

The association will proactively coordinate with government agencies, including the Labour Ministry’s Department of Skill Development and the Construction Institute of Thailand (CIT), to solve the labour shortage with urgent measures. It will also join forces with educational institutions to set up construction professional programmes to solve the problem in the long run.

The medium-term plan will focus on development of potential and increased competency for the members of the association, particularly management.

The association also plans to encourage its members to adopt ISO 9001 standards as accepted by the CIT. The association and the institute are seeking support from the Commerce Ministry to promote competition and investment in Asean over the next three to five years.

The association is cooperating with Rajamangala University of Technology Tawan-ok , Uthenthawai Campus, in the establishment of a construction professional programme.

Source: The Nation, December 13, 2012

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