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Pattaya Daily News

17 May 2007 :: 12:05:38 pm 22999

Investors Interested In Buying Property Despite Economic Slowdown

BANGKOK, May 16 – Foreign investors have still paid attention to finding an opportunity to buy property projects in Thailand although there remain political uncertainties and economic slowdown, according to Jones Lange LaSalle, a world‘s leading real estate services and money management firm.
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Longlom Bunnag, the company’s chairman, said the political change, revised laws governing foreign investment, and economic slowdown had shaken confidence among local and foreign investors.

However, most investors shared a common view that the situation would last in the short run and hoped the economic conditions including those in the property business would improve when the general election is held.

“Although the property market in Bangkok is likely to slow down this year, the market fundamental remains strong. A slow demand in the market stemmed from a lack of confidence among consumers and investors rather than lower purchasing power,” said Mr.Longlom.

It is expected the demand would pick up late this year or early next year when the political direction is clearer upon the general election in December, he said.

He viewed high investment returns would remain a key factor to attracting investment in property projects in Bangkok by local and foreign investors.

Jones Lange LaSalle estimated a purchase of quality office buildings and apartments would give an investment yield of 6-7 per cent and that of shopping complexes and serviced apartments would provide a yield of 8-10 per cent.

Under the economic slowdown, the agency said, most investors would pay attention to investing in quality property with low investment risks.

Reporter : PDN staff   Photo : PDN staff   Category : Business News

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