BANGKOK, June 13 (TNA) – Thailand’s housing market is not yet out of the woods, nor will it be for the rest of this year, although the government has gradually introduced various measures to stimulate the economy, according to a leading Thai credit rating agency.
Bangkok-based TRIS Rating Co attributed the continued sluggishness of the housing demand to the overall decline in Thai consumer confidence and the lack of spending capacity on the part of prospective home buyers, the economic recession, the increasing numbers of the jobless, the stock market plunge, and continuing political conflict.
These factors had collectively undermined consumer confidence in Bangkok and elsewhere in Thailand.
The National Economic and Social Development Board (NESDB) forecasts that the Thai economy will shrink 2.5-3.5 per cent this year.
The firm said that the credit rating of housing developers in 2009 has been revised based on the competence of executives to adapt to the changing business environment, financial discipline, liquidity management capability, good connection with financial institutions, and strong support from parent companies.
TRIS said local housing developers will still face continued weakness in the market, particularly the single house and townhouse sections, for the remainder of this year, and at the same time, new condominium start-ups have begun to decline.
Consequently, it is expected that the number of new housing starts this year would drop from that of the previous year. (TNA)
Source: MCOT 13 June 2009
1 comment:
I think this an problem for the thailand natives.
I have a solution of it.
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