{"id":24604,"date":"2021-08-02T09:04:16","date_gmt":"2021-08-02T02:04:16","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24604"},"modified":"2021-08-02T09:04:16","modified_gmt":"2021-08-02T02:04:16","slug":"thailands-recent-outbreak-causes-property-prices-in-q3-to-slide","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/thailands-recent-outbreak-causes-property-prices-in-q3-to-slide\/","title":{"rendered":"Thailand’s recent outbreak causes property prices in Q3 to slide"},"content":{"rendered":"

Developers are offering promotions and discounts to speed up purchasing decisions<\/p>\n

\"\"
Price Index for residential property in Bangkok dropped to 183 from 190 points or minus four percent quarter-on-quarter. PICONEST\/Shutterstock<\/figcaption><\/figure>\n

According to DDproperty<\/a>, Thailand\u2019s Price Index has consistently decreased from the last quarter, and it is expected to remain stable for the rest of the year.<\/p>\n

As a result of the recent outbreak, property prices in Q3 2021 have been dropping since the beginning of the year.<\/p>\n

The country is experiencing a slowed down economy, as well as a record-high household debt of 90.5 percent of the GDP. Consumers\u2019 shrinking purchasing power has led to purchasing delays or longer considerations in property investment.<\/p>\n

On the other hand, developers are offering discounts and promotions to lure in buyers and speed up their buying decisions.<\/p>\n

The latest DDproperty Thailand Property Market Index report indicates that the Price Index for residential property in Bangkok dropped to 183 from 190 points or minus four percent quarter-on-quarter, the lowest since Q2 2017.<\/p>\n

The drop in the Price Index particularly applies to condominiums, as consumers are more interested in horizontal living, and foreign buyers and investors have withdrawn from the market.<\/p>\n

More: Thailand\u2019s resort real estate experience a strong wave of domestic demand<\/strong><\/a><\/p>\n

The Price Index of condominiums decreased by three percent from the previous quarter, slumping eight percent year-on-year.<\/p>\n

Meanwhile, the Price Index of townhouses remained unchanged from the previous quarter and shrunk by two percent year-on-year. Single-detached houses saw an increase of three percent quarter-on-quarter and three percent year-on-year.<\/p>\n

\n
\n
\n

The Property Report editors wrote this article. For more information, email:\u00a0<\/em>propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Developers are offering promotions and discounts to speed up purchasing decisions<\/p>\n","protected":false},"author":12,"featured_media":24607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2160,831,115,133],"class_list":["post-24604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-delay","tag-price-index","tag-property-investment","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"\nThailand's recent outbreak causes property prices in Q3 to slide | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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