Real estate market expected to grow

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BANGKOK, 3 December 2013 – This year’s real estate market is positively growing as seen from the first nine months of the Government Housing Bank (GHBank)’s performances, extending credit worth over 90 billion baht with the net profit of six billion baht.

Angkana Pilun-Owad Chaimanat, GH Bank’s President said compared to the same period last year, GHBank has seen an increase of 20.90% in lending in the first nine months of this year; resulting in the bank’s third quarter outstanding balance totaling 700 billion baht, assets totaling 700 billion baht, deposits totaling 600 billion baht and non-performing loans (NPLs) dropping to 6.71% of the total amount of lending.

The bank has seen a net profit of 6.225 billion baht, signaling a continuous growth rate in driving the economy forward through the real estate sector. The bank expects to make housing loan worth 110-120 billion baht in the last quarter of the year to as earlier targeted.

GH Bank’s President predicts that the real estate sector will see a continuing positive direction next year, thanks to the two-trillion baht loan bill on the table and the upcoming ASEAN Economic Community (AEC). Investment in the region will lead to prosperity and create more demand for residential properties.