Thailand’s housing market losing steam
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Thailand´s housing market is weakening, despite a stronger economy. The average price of single-detached houses increased slightly by 0.2% (but in real terms it fell by 0.6%) during the year to Q3 2017, a slowdown from last year´s 1.4% growth, according to the Bank of Thailand (BoT). During the latest quarter, house prices increased by 1.5% (1% in real terms) in Q3 2017.
Land price increases are also slowing nationally. The land price index rose by 1.59% (0.72% in real terms) y-o-y in Q3 2017, a sharp slowdown from a 7.9% rise the previous year. However during the latest quarter (Q3 2017), land prices actually increased 5.3% q-o-q.
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