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Banks urged to ease tight loan rules to help market
Commercial banks should loosen their home-loan approval conditions including income and employment requirements in order to help the property industry, suggests Atip Bijanonda, president of the Thai Condominium Association.
Due to the global financial crisis, many banks in Thailand have tightened screening of mortgage applicants for fear of non-performing loans (NPLs), which is hurting the property [...]
Property help may last longer
Suchart says industrya key economic driver
The Finance Ministry may extend tax and fee-reduction incentives for real estate purchases beyond next March, said Finance Minister Suchart Thada-Thamrongvech.
Real estate associations submitted a request for an extension yesterday, along with other proposals, including one that the Bank of Thailand cut interest rates in line with other declines in [...]
Risk for prime office market
Lehman was a major Bangkok landlord
The collapse of Lehman Brothers Holdings, the largest bankruptcy in US history, could disrupt Thailand’s prime office market, as the 158-year-old investment bank is one of the largest holders of commercial space in Bangkok. Lehman’s global assets, listed at $639 billion as of May 31, include an estimated 50 billion [...]
Property sector looks set to prosper in 2008
Market buoyed by profit potential, removal of 30% requirement.
Foreign investors are expected to invest up to Bt70 billion in the Thai property sector this year, following the lifting of the Bank of Thailand’s 30-per-cent capital reserve requirement.
