2017 - a year of stability in the market of real estate in Thailand
According to a recent study by the international consulting company JLL, Bangkok real estate market has shown a good performance in 2016. Experts are optimistic in 2017, calling it a period of stability. Since Bangkok has long been a driving force of the market, the results say about the situation in the country
So, in the commercial property sector in Thailand is now a high percentage of employment, condominium market continues to grow, the premium real estate market of the capital is also on the rise, and only the mass segment is showing signs of stagnation.
There are a number of factors that can both positively and negatively affect the market. These include new infrastructure projects, the introduction of taxes on land and construction, growth of prices for land, as well as the global political situation and economic instability.
"Overall, in 2017 we do not expect major changes in comparison with 2016. Buoyant demand and limited supply will continue to increase in the commercial sector, while the condominium market will face a number of difficulties ", - says the managing director of JLL Sufin Mechuchep.
Costly projects run more often: before the end of 2016 appeared in 1430 new residential units. This is almost twice as much as in 2016, and more than 5 times more than in the past 4 years. But budget housing market is still at a standstill.
In general, experts note JLL, even if the Thai real estate market a bit, "gives way" this year, the situation will remain stable on it.