Housing market.. Look out below !!!

[K2]

Just a quick not that Chinese stocks plunged today as Gov. says stock market becomming a bubble.

OK to answer ATM Q...

Originally Posted by ATMwalking

Do you think housing is more tied to foreign investment or tourism? What's the bigger driver?

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.

[marc26]

Originally Posted by K2

Just a quick not that Chinese stocks plunged today as Gov. says stock market becomming a bubble.

OK to answer ATM Q...



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.

just a quick thought on China
I just get the same feeling when i hear a stock flying because "its the "google" (any thing could be added here) of China, and sounds so eerily similar to when companies would but .com after there name and the stock fly 7-8 years ago

[ATMwalking]

Foreign investors less attentive to Thai property market

BANGKOK: -- Foreign investors are paying less attention to Thailand's property market following unfavourable incidents in the past month, according to a leading real estate service agency.

Jones Lang LaSalle president Supin Meechucheep said the company had previously projected that the property market in Bangkok would be quite promising this year, with property firms enjoying strong operating results.

Such a projection had not factored in several unfavourable incidents that have occurred in the past months.

Although the market fundamentals remain strong, she said, the incidents had undermined the overall economic atmosphere including the property market sentiment.

She said the firm found foreign investors interested in investing in property in Thailand had slowed their decision because they are uncertain about state measures taken recently such as the 30 per cent reserve requirement imposed by the Bank of Thailand in December, and the amendment to the Foreign Business Act which followed.

"The property market is likely to grow, at a slower pace this year," Ms. Supin said. if there are no untoward incidents. It is expected the demand will remain intact since the market has strong fundamentals.

"It is possible buying activities planned in the first half of this year will be postponed to the second half of the year since potential buyers and leasers will adopt a wait-and-see attitude.

"However, we believe the situation will ease and uncertainties will end soon. This, coupled with the stability of the government's polices and economic stimulus through an interest rate cut, will help restore investor confidence and make the property market recover this year," she said.

--TNA 2007-01-22

Carrefour Announces Thailand Expansion

BANGKOK: -- French hypermarket chain Carrefour SA said Tuesday it plans to invest nearly $150 million to open new megastores in Thailand.

Carrefour currently has 24 stores in Thailand and plans to open about four or five new branches a year for the next three years, Philippe Broianigo, managing director of CenCar Ltd., a Thai unit of Carrefour, said in a statement.

"We have been missing many opportunities in the past and it's time for us now to ring the bell and wake up," Broianigo said.

The company slowed its expansion over the past six years but Thailand has recovered from the 1997 financial crisis and consumer demand for quality products is growing, Broianigo said.

--Forbes.com 2007-01-30

[ATMwalking]

Ford eyeing Thailand for new eco-car

Bangkok (dpa) - US automotive giant Ford Motor has expressed interest in investing in a 1-billion-dollar factory to produce energy-efficient cars in Thailand, Industry Minister Kosit Panpiemras said Friday.

Kowit said Ford executives had informed him that Thailand was one of three countries they were appraising for the new investment, the Thai News Agency reported.

Thailand's Board of Investment is working on details to provide tax incentives for investments in an eco-car in the country, but details will not be completed until March, the minister said.

Thailand is already the world's second-largest assembler and manufacturer of 1-ton pickup trucks and is hoping to turn the kingdom into a hub for eco-car production in the future.