Restrictions on foreign investment in Thailand
mean that overseas buyers are increasingly being put off purchasing real estate in Bangkok.
This is according to the latest report from property consultancy CB Richard Ellis (CBRE), which noted that the capital did not see any significant income through major property deals in the forth quarter of 2010.
"Although there have been concerns regarding the influx of foreign capital into Thailand, the various restrictions on foreign investment ensured the real estate investment
market remained largely dominated by domestic players," the firm pointed out.
During the second half of 2010, the Bank of Thailand raised the policy interest rate three times in an attempt to cool the country's property market. The Bank also announced that it would be decreasing LTV's for condominiums to 90 per cent and LTV's for houses to 95 per cent.
However, the move did not have any major negative impact on the property market, CBRE concluded in its report.
- Wednesday 23 March 2011