Bangkok housing market set to decline amid poor economy

Quick Summary:

SCB EIC, the research centre of Siam Commercial Bank, predicts that the transfer of new residential units in Greater Bangkok will decline by 10% this year, with a further contraction of 1-3% projected for 2025, mainly due to the country's sluggish economy.

Krungthai Bank (KTB), the second- largest lender in Thailand, was the only major bank to report growth in home loans.

Additionally, SCB EIC forecasts that the number of newly launched residential units in 2024 will decrease by 28% year-on-year, with the figure expected to recover in 2025 with a projected contraction of 2-4%.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Portfolio Banks Loans Bank Quarter-on-quarter Loan 2024 Year-to-date Year Housing Mortgage

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 08:15:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 480 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 23232528

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