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Thailand: Oversupply and mortgage capping to weigh on property market

Posted on 03 December 2010

From Thailand-business-news.com: Oversupply fears will slow the Thai property market for a couple of months before positive sentiment will resume next year, according to local developers. Mayta Chanchamcharat, director and chief business officer of Pruksa Real Estate said concerns about a possible property bubble in Bangkok and the Bank of Thailand’s announcement capping condominium mortgages at 90 per cent of value from January 1 have quietened the market due to a retreat of speculators and investors.
Real estate experts say medium-priced condos near mass transit are at particular risk of missing their sales targets next year, as developers have built too many……………………………………….Full Article: Source

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