Real Estate Sector Confident Bangkok Market to Grow

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Members of the real estate sector have predicted that the market for Bangkok and its vicinity will grow this year by 5-10 percent with supporting factors such as public infrastructure development and stimulus measures.

Chief Executive Officer and President of Pruksa Real Estate Public Company Limited Thongma Vijitpongpun has disclosed his view that as many as 4.7 million people have yet to acquire their desired real estate from 2015, which would result in as many as 2.1 million units being sold. He predicts that the real estate sector in Bangkok and its vicinity will grow by 5-10 percent, or by 370-390 billion baht.

Thongma Vijitpongpun

Thongma said that supporting factors include public spending on basic infrastructure, which could be as high as 1.8 trillion baht, as well as state stimulus measures such as the reduction of rights transfer fees and mortgage rates, which are continuing until April.

He also cited continued demand for low rise structures such as town houses and single homes.