Thailand property market "completely recovered from flooding"

The Thailand property market has now completely recovered from the flooding, according to CBRE.

The firm's latest market report shows that the Thai economy enjoyed a positive growth during the second quarter of 2012, following the flooding that swamped parts of Bangkok in October and November 2011. Retailers have resumed trading, factories have restarted production and tourism has bounced back strongly.

Thai private investors displayed renewed interest in acquiring income producing assets although there remained very few assets available for sale. Banks remain willing to lend to top developers in the market. The V-shaped recovery in the economy means that demand for both development sites and income-producing buildings is expected to continue to increase.

Few income-producing building owners want to sell, but a number are considering effectively securitising their property investments by injecting them into tax-efficient public listed property funds, usually vendor-sponsored.

Thai housing and condominium developers are expanding their markets to both resort areas such as Pattaya and Phuket, but also into regional cities where demand for developer-built housing has grown along with disposable incomes.

Vendors' expectations of prices that can be achieved for sites in Bangkok close to mass transit stations along the BTS and MRT lines continue to rise.

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