thailand property market benfits from improving liquidity and sales
News Posted On: 25 January 2010
Some very positive signs have emerged that the Thailand property market is joining Asia and most the rest of the world in entering recovery.
At the end of last year banks increased their levels of commercial lending, and this increased liquidity met with increasing sales to send developer's confidence surging to record levels.
According to the Bankok-based Real Estate Information Center, its index of Thai developer confidence jumped to 57.8 in the fourth quarter of last year, up from 36.3 in the final quarter of the year before.
Commercial banks increased lending at the end of last year because state-supported ownership fees and mortgage reductions were due to expire, said REIC Chairman, Kan Prachuabmoh, who is also president of the Government Housing Bank.
Developers accelerated construction to improve the end of year performance while December sales promotions encouraged more consumers to buy, he told the Thai News Agency.
According to other recent reports, Thailand is was named an over-performer in the field of trade and logistics by the World Bank, and has also been named as one of the top destinations in the world for expats to go and live. This is both surprising and very positive, especially when taking into consideration Thai's recent political upset.
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