Golden Land Property Development to remain confident towards bangkok real estate
Contrary to the current climate of fear towards investing in the Kingdom, SET-listed developer Golden Land Property Development Plc (GOLD) has announced it increased its amount of upcoming projects this year from 10 to 11, therefore worth more than 10 billion baht in total. In fact, the property developer remains extremely confident with regards to Bangkok real estate in 2014
Saenphin Sukhee, GOLD’s managing director of residential development, said, “the political situation will have a short-term impact on home purchasing power and the Bangkok property market, particularly single houses.”
“If the new government wants to expand the economy, the property market will be the first sector it will stimulate,” he said. “Despite the many political crises we have endured, property developers never get smaller in size – they have doubled.” According to Mr. Sukhee, GOLD is not concerned about high household debt affecting loan approvals. He affirmed, “If homebuyers’ credit is not tight due to a record of non-performing loans or being on a credit blacklist, commercial banks will continue to provide mortgages as usual.”
Moreover, the country shows several positive factors towards promising real estate in Bangkok for the future. These factors include a drop in the policy interest rate, a deduction in personal income tax, and a decrease in unemployment that is at 0.8% at the moment.
Besides, the National Economic and Social Development Board reported some positive forecasts regarding property purchasers in Thailand. In fact, low-income buyers are thought to rise from 17 million up to 20 million, while middle-income ones will rise up to 17 million (12 million in 2013). Thailand definitely remains the place to invest in Southeast Asia.