Thai Real Estate Market Remains Afloat In Q3 2017
The Thai real estate market remains afloat as its economy continues its gradual recovery. According to a new property index, the increase in supply of real estate in the Thai market over this time has provided greater opportunities for new home-buyers.
A famous online property portal, recently released a property index for Thailand reporting on it’s third quarter of 2017 in numbers. This index (for Bangkok prices in particular) reached 199, which is a 5% increase from Q2, thus highlighting the continuous growth in the Thai real estate market since Q1 this year.
According to a spokesman from the online property portal, the moderate growth stands proof of the Thai property market’s recovery from the Kingdom’s unfortunate economic slowdown and weakened purchasing power caused by increasing household debt.
We at Harry & Sons Real Estate remain optimistic about the Thai real estate market in general and the Pattaya property market in particular. We truly believe there are as much opportunities for buyers, as there are for sellers given gradual increase in supply levels, coupled with the low interest rate environment that is expected to continue for some time.
Coming back to the property index referred to earlier, prices of residential properties increased 13% year-on-year during Q3 of 2017, which brought growth over the past 24 months to an unprecedented 53%.
With its price index hitting 219 in Q3 of 2017, condominiums continue to demand the most amount of attention from home-buyers, thereby continuing its positive vertical trend from Q2.
Keywords/phrases – Real Estate Market, Property Index, Thai Real Estate.