Thai property market weak
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The residential real estate market in Thailand remains weak, the tax breaks enacted in 2009 having expired. The political environment has improved, but the situation remains volatile leading to significant uncertainty for the housing market.
The price index for single-detached houses rose 2.4% y-o-y to Q3, according to the Bank of Thailand (BOT), the first y-o-y rise in four years. Adjusted for inflation, however, the index was down -0.8%. 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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