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[ 2016-01-20 ]
10% growth for Bangkok
The property and real estate sector in Bangkok and its vicinity will grow by between 5 percent and 10 percent this year according to the Chief Executive Officer and President of one of the Kingdom’s largest real estate developers.
Citing supporting factors including public infrastructure development and stimulus measures, Thongma Vijitpongpun (pictured) said his view was that as many as 4.7 million people have yet to acquire their desired real estate from 2015, and this would result in as many as 2.1 million units being sold.
According to the Public Relations Department of the Royal Thai Government he predicted the real estate sector in Bangkok and its surroundings will grow by up to 10 percent, or by THB 370 billion to THB 390 billion.
Thongma said that supporting factors include public spending on basic infrastructure, which could be as high as THB 1.8 trillion, as well as state stimulus measures such as the reduction of rights transfer fees and mortgage rates, which will continue until April.
He also focused on continued demand for low-rise structures, such as town houses and single homes.
Author: Patrick Lusted