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Thai Real Estate Market – Golden Land Optimistic

By on Jan 02, 2014 in Property News

SET-listed developer Golden Land Property Development Plc (GOLD) is confident in the property market next year,increasing its new projects from 10 to 11, worth over 10 billion baht combined.

Saenphin Sukhee, GOLD’s managing director of residential development, said the political situation will have a shortterm impact on home purchasing power and the property market, particularly single houses and townhouses in the mid-tier segment.

Positive factors next year include a decrease in the policy interest rate, a deduction in personal income tax and a reduction in unemployment, which stands at only 0.8%.

“If the new government wants to expand the economy, the property market will be the first sector it will stimulate,”he said.”Despite the many political crises we have endured, property developers never get smaller in size  they have doubled.”

The company is not worried about high household debt, which has affected housing loan approvals. If homebuyers’credit is not tight due to a record of nonperforming loans or being on a credit blacklist, commercial banks will continue to provide mortgages as usual, said Mr Saenphin.

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Source | Bangkok Post 24 December 2013

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