Rising property prices no cause for concern, BOT chief says
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The Bank of Thailand (BOT) yesterday dismissed concerns that foreign investors have been engaging in speculative activities in the country's real-estate sector.
“To date, we have not found any speculative activity from the inflow of foreign investments,” BOT Governor Prasarn Trairatvorakul said.
However, he acknowledged that real-estate prices in some areas of the country had risen quite fast lately and said the central bank was monitoring such movements.
“But the [price] rise, on this scale and at this point, is not threatening to affect the whole sector,” Prasarn said.
He was speaking after some real-estate developers expressed concerns that the huge inflow of foreign currencies might be directed into the country’s real-estate sector in a speculative manner and cause a market bubble.
Prasarn said the BOT welcomed opinions from all sides, including those expressed via newspapers, in trying to efficiently manage the flow of foreign investment.
