Thailand Business News –
Thai property developers, despite being some of the first local companies to get hit by the global financial crisis, have shown resilience and delivered strong results for investors.
Cultural changes, along with a significantly improved mass transport network, are changing Thailand’s lifestyle. Today’s urban dwellers often prefer to live closer to work, becoming less dependent on parents.
But if the government invests in mass transit routes, adding one or two new lines in the future, new residential and commercial areas will be created. Property tax incentives implemented by the government of Thailand to stimulate the sluggish market expired on May 30 as it was no longer a need for the tax breaks as the economy was recovering, the property sector had grown by 10% over the past year, and developers’ margins were improving. Governments have used tax incentives to stimulate the property market during most economic slumps since the 1997 Asian financial crisis.