Supalai Plc chairman and CEO Prateep Tangmatitham says there was clearly a negative influence on the property market from November last year to January 2009, when political confrontation reached boiling point, and he expects this year’s performance to hinge on political stability as well as economic recovery.

Property firm Supalai is confident of continued growth in demand for houses from middle-income earners, despite the global economic malaise.

The property market is expected to experience a drop of 5-10 per cent in value next year as Thailand becomes caught up in the global financial crisis, say experts.

Property developers have called on the new government to increase the tax allowance for home-buyers from Bt100,000 to Bt200,000, as a means of directly increasing purchasing power next year at a time when consumers will be hit by the global economic downturn.

Supalai continues to be optimistic about the property market next year and plans to launch 12 residential projects in 2009 with a market value of nearly Bt16 billion, its president, Prateep Tangmatitham, said this week.

Unstable politics and tighter credit have hit the local market hard in the latter half and no end to the gloom is in sight. But this acid test will leave the industry in better shape than ever, with only truly tested warriors the last men standing

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 [...]

Colliers Predicts Tax Breaks Will Matter Despite the global financial meltdown and local political turmoil, the industrial property sector should continue to prosper in the next few years as the government considers extending property tax incentives and tax and duty privileges for investment, according to the property consultancy Colliers International (Thailand). Managing director Patima Jeerapaet [...]

The tax privilege for second-hand houses is an extended version of the major tax stimulus package announced on March 4 for the property sector, which focused on purchases of new houses.