Property market still has potential for growth this year

[dr dave soul monsta]

BANGKOK, April 17 (TNA) – The property market still has a potential for growth this year because consumer demand continues to rise, according to industry executives.

Prasong Outran, President of Housing Estate Business Association, projected a project of single houses worth no more than 3 million baht each or that of townhouses worth around 1 million baht still had much room to expand since the customer demand represents 60-70 per cent of the total.

Currently, he said, potential homebuyers would give a priority to their purchasing power and repayment prospect before making a decision to buy houses.

He expected house prices would increase by around 5-10 per cent this year along with higher costs and inflation rates.

“In the first quarter of this year, total sales of houses have been affected by a political uncertainty to a certain extent. But a projection of the economic growth of 4-5% this year will help boost consumers’ confidence in the economic fundamental and make it easier for them to decide to purchase houses.

“So, it is believed the housing estate market will continue to grow in the remaining three quarters of this year. Should the market be able to grow 5-10% this year, it should be satisfying,â€