{"id":24860,"date":"2021-08-19T10:32:32","date_gmt":"2021-08-19T03:32:32","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24860"},"modified":"2021-08-20T13:03:04","modified_gmt":"2021-08-20T06:03:04","slug":"thailands-housing-demand-this-year-expected-to-drop-10-from-2020","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/thailands-housing-demand-this-year-expected-to-drop-10-from-2020\/","title":{"rendered":"Thailand’s housing demand this year expects to drop 10% from 2020"},"content":{"rendered":"

The property market will be concentrated with large developers\u00a0as smaller companies struggle to compete with their inferior cash flow<\/span>\u00a0<\/span><\/p>\n

\"\"
Developers will incur higher costs from the temporary lockdown of all\u00a0construction\u00a0sites. KhajonwitSomsri\/Shutterstock<\/figcaption><\/figure>\n

According to Bangkok Post<\/a>, poor homebuyer sentiment\u00a0has caused\u00a0Thailand\u2019s residential housing market to remain stagnant and\u00a0will\u00a0take some time to rebound.\u00a0<\/span>\u00a0<\/span><\/p>\n

Kessara\u00a0Thanyalakpark, managing director of SET-listed developer\u00a0Sena\u00a0Development Plc, said\u00a0the high infection curve in the third wave has resulted in\u00a0very different\u00a0attitudes\u00a0towards the pandemic and this year’s lockdown, compared to 2020.\u00a0<\/span>\u00a0<\/span><\/p>\n

“The country is in a worst-case scenario with a possible peak of 20,000-30,000 infections per day in August and September before declining,” she said. “That is the official record, but in reality, it might hit 50,000.”<\/span>\u00a0<\/span><\/p>\n

The nation\u2019s current COVID-19 crisis will cause business slowdown, minimal recovery in the labour market, and lower household incomes, all of which impact purchasing power.\u00a0<\/span>\u00a0<\/span><\/p>\n

The market will see the domination of large developers due to their superior cash flow. This trend has been relevant over the past two years and is expected to continue.<\/span>\u00a0<\/span><\/p>\n

“Housing demand in the short term will drop as financial institutions hardly release mortgage loans when unemployment rises to a new high,” she said. “Together with soaring household debts, home purchases will be more difficult.”<\/span>\u00a0<\/span><\/p>\n

Moreover, this year\u2019s housing demand is expected to decline by 10 percent from 2020,\u00a0while developers will incur higher costs from the temporary lockdown of all\u00a0construction\u00a0sites.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Thailand\u2019s recent outbreak causes property prices in Q3 to slide<\/strong><\/a><\/p>\n

Meanwhile, the upward trend of steel prices will affect the condominium segment.\u00a0<\/span>\u00a0<\/span><\/p>\n

“The only positive factor would be a downward trend in interest rates, which could accelerate some homebuyers’ decisions,” she said. “In the medium term, the housing market will pick up as\u00a0urbanisation\u00a0remains lower than the world’s average.”<\/span>\u00a0<\/span><\/p>\n

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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<\/div>\n","protected":false},"excerpt":{"rendered":"

The property market will be concentrated with large developers\u00a0as smaller companies struggle to compete with their inferior cash flow\u00a0<\/p>\n","protected":false},"author":12,"featured_media":24862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2247,2249,2248,133],"class_list":["post-24860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-residential-housing","tag-slow-rebound","tag-stagnant","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"\nThailand's housing demand this year expects to drop 10% from 2020 | 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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