Thailand Business News – Thailand Business News
|Pattaya’s strategic location will continue to be a key driver for growth in tourism and its property market, says international real estate consultants CB Richard Ellis.|
Later, as investors tried to rebuild their diminished wealth, they turned to the very sector they had abandoned first, property development.
Second, Thailand’s banking system is much healthier than its Western counterparts. There are no toxic assets on local banks’ balance sheets. This benefits both the supply and demand side.
But a stable political environment in Thailand would likely see interest rates rise by half a percentage point. And oil prices will float at about US$85 to $95 a barrel. Construction costs will rise when oil prices and interest rates are in an upward trend. Overall housing supply has dropped over the past two years with a decrease in the number of construction permits. Many small-sized developers went bust after failing to access loans from local financial institutions.