Just a quick not that Chinese stocks plunged today as Gov. says stock market becomming a bubble.
OK to answer ATM Q...
Quote:
Originally Posted by ATMwalking
Do you think housing is more tied to foreign investment or tourism? What's the bigger driver?
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I dont think either affect broad housing market much... housing here no different from housing anywhere else - main drivers are wages and interest rates in domestic market.
Foreigner housing market is small - I'd guestimate at <5% - maybe more like 2%, and toursim mainly centers on hotels.
Housing market is still robust for normal Thai housing and land prices are actually sill RISING!
The foreigner centered housing market is going through some pain now - with the changes to immigration and FBA move affecting ownership see little respite in the near term and would hold off investing in property here until more clarity of the situation becomes evident.