Thailand's Massive Property Glut




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ORIGINAL POST

Posted by Ed 5 days ago
Want to Buy a Home in Thailand? You Have More Than 450,000 to Choose From


A glut of condominiums as Thailand’s economy wavers and stricter mortgage-lending rules kick in is creating a buyer’s market in Bangkok.

Some 65,000 new apartments were added to the city last year, an 11% increase over 2017 and the most since 2009. Demand, however, is tepid with developers reporting take-up rates of just 55% and average asking prices decreasing 6% year-on-year, a Knight Frank report shows.

It’s a chance to get into the market as home builders look to clear excess stock at lower prices, according to Aliwassa Pathnadabutr, a managing director of CBRE Group Inc. in Thailand.

https://www.bloomberg.com/news/articles/2019-05-15/bangkok-s-empty-condos-create-buyer-s-market-as-foreigners-flee?srnd=premium-asia

COMMENTS

Ed 5 days ago
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