Thai housing market – a weak recovery
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Residential house prices in Thailand remain weak in Q3 2010, the tax breaks enacted in 2009 having expired. The political environment has improved, but remains volatile with significant uncertainty for the housing market.
The price index for single-detached houses rose 2.4% y-o-y - the first y-o-y rise in four years. Adjusted for inflation, however, the index was down -0.8%, according to the Bank of Thailand (BOT). Nevertheless, it was a significant improvement from the 16% y-o-y price fall (17% in real terms) which was the average from Q3 2009 to Q1 2010.
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