2017 - year of stability in the real estate market in Thailand
According to the latest research of the international consulting company JLL, the real estate market of Bangkok in 2016 showed good results. Experts are optimistic about 2017, calling it a period of stability. Since Bangkok has long served as the locomotive of the market, its results show the situation in the whole country
So, in the commercial real estate sector of Thailand now a high percentage of employment, the condominium market continues to grow, the market of premium real estate capital is also on the rise, and only the mass segment shows 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, rising prices for land, as well as the global political situation and economic instability.
"In general, in 2017, we do not expect any drastic changes compared to 2016. The lively demand and limited supply will continue the growth of the commercial sector, while the condominium market will face a number of challenges, "says JLL managing director Sufin Mechuchep.
Expensive projects are launched more often: by the end of 2016, there have been 1,430 new residential properties. This is almost twice as much as in 2016, and more than 5 times more than in the last 4 years. But the market of budget housing still stands still.
In general, as experts JLL mark, even if the market of the Thai real estate "will take a little" this year, position on it remains stable.