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130978
Fri, 07/02/2010 - 09:11
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http://m.oananews.org//node/130978
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Property market likely to recover in 2nd half of 2010
BANGKOK, July 2 – The property market is projected to recover and resume its growth as usual in the second half of this year because the real demand by potential homebuyers who postponed their purchase decision due to the political unrest in the first half of the year remains intact, and property developers are launching new projects to accommodate the demand, according to the Bank of Thailand (BoT).
Mathee Supapongse, director of the BoT Domestic Economy Department, said the sector conditions in May began to pick up in tandem with the country’s overall economic recovery although it had been affected by the recent political mayhem in the short run.
This could be witnessed by a surge in the number of housing projects offered for sales in Bangkok and its environs by 54.2 per cent from the previous month, and total sales in new projects rising by 23.3 per cent from 13.1 per cent the month before.
In April, the property market conditions shrank due to the political unrest, which had shaken confidence among consumers and property developers. Also, there are many public holidays in that month.
The demand for single-attached and twin-attached houses contracted with house ownership transfers dropping 80.2 per cent from the previous month and 21 per cent from the same month the year before. So did the supply with the number of registered and completely built houses decreasing 25.9 per cent from the previous month.
The demand for townhouses and commercial buildings also dropped with the ownership transfers shrinking 74.5 per cent from the previous month and 1.9 per cent from the same month last year.
So did the demand for condominiums with ownership transfers decreasing by 83.1 per cent from the previous month. However, total sales of condos grew 12.6 per cent from the same month last year because the real demand for condos for living and investment remains intact.
Mr Methee also disclosed that outstanding personal loans for property extended by commercial banks grew 15.1 per cent from the previous month while the outstanding loans for property developers dropped 9.6 per cent from the month before because more developers turned to raise funds through the debt instrument issuance. (MCOT online news)
Mathee Supapongse, director of the BoT Domestic Economy Department, said the sector conditions in May began to pick up in tandem with the country’s overall economic recovery although it had been affected by the recent political mayhem in the short run.
This could be witnessed by a surge in the number of housing projects offered for sales in Bangkok and its environs by 54.2 per cent from the previous month, and total sales in new projects rising by 23.3 per cent from 13.1 per cent the month before.
In April, the property market conditions shrank due to the political unrest, which had shaken confidence among consumers and property developers. Also, there are many public holidays in that month.
The demand for single-attached and twin-attached houses contracted with house ownership transfers dropping 80.2 per cent from the previous month and 21 per cent from the same month the year before. So did the supply with the number of registered and completely built houses decreasing 25.9 per cent from the previous month.
The demand for townhouses and commercial buildings also dropped with the ownership transfers shrinking 74.5 per cent from the previous month and 1.9 per cent from the same month last year.
So did the demand for condominiums with ownership transfers decreasing by 83.1 per cent from the previous month. However, total sales of condos grew 12.6 per cent from the same month last year because the real demand for condos for living and investment remains intact.
Mr Methee also disclosed that outstanding personal loans for property extended by commercial banks grew 15.1 per cent from the previous month while the outstanding loans for property developers dropped 9.6 per cent from the month before because more developers turned to raise funds through the debt instrument issuance. (MCOT online news)
