BoT says property business boom not aggressive

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BANGKOK, 21 February 2013 The Bank of Thailand (BoT) said the overall property booming in Thailand is not too aggressive while those in the vicinity of hi-speed railway could become expensive as investors are attempting to raise their profit margins. 

According to BoT Governor Prasarn Trairatvorakul, prices of property and shares in Thailand remain on par with its neighbors, but some properties may have higher value because of their locations which provide connectivity to other regions such as those in Khon Kaen. Investors are also trying to capitalize on properties located along the planned hi-speed railway.

The BoT Governor also mentioned the Monetary Policy Committee’s concern over a possibility of an economic bubble in the future. He said the issue had prompted the committee to maintain its interest rate policy at 2.75%. However, he said the BoT would continue to monitor the economy closely.