Regional Watch: Thailand's Housing Market Braces for a Longer Slump
With no fresh Philippine property headlines today, we look at Thailand's stalled residential sector
Written by PropVela Editorial TeamPublished 1 min read
No major Philippine property news broke today, so here's a look at what's moving in the wider region:
Thailand's Housing Slump Could Drag Into Next Year
Developers in Thailand say the residential market has yet to turn a corner, with the ongoing downturn now expected to persist into next year as consumer confidence remains weak. A persistent oversupply of unsold homes continues to outpace tepid buyer demand, keeping pressure on the sector. Adding to the strain, banks are reportedly tightening mortgage approvals and rejecting more previously secured home loans, while would-be buyers themselves are growing more hesitant to commit. According to the Bangkok Post, the combination of cautious lenders and cautious households points to a slow, drawn-out recovery rather than a quick rebound.