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Property market may expand 5-7%: real estate centre

Feb 17. 2020
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The property market will expand 5 to 7 per cent at most this year if there is overall improvement in the economy as well as purchasing power, Real Estate Information Centre board chairman Parinya Patanaphakdee estimated.

“Chinese buyers would delay the transfer of property ownership in the first half of the year due to the Covid-19 coronavirus outbreak,” Parinya said. “However, it would affect the market only slightly as Chinese make up just 6 per cent of total apartment buyers.”

Meanwhile, Phoenix Property Development and Consultancy managing director Surachet Kongcheep said negative factors such as the virus and a global economic slowdown have led to a decrease of around 40 per cent of Chinese buying Thai property.

“We hope those Chinese who have bought property would transfer ownership,” he added.

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