Thai Residential Developers in 2009: In the Midst of Global Economic Turbulence
In 2008, the Thai residential property market was volatile. The year started with improving sentiment after general election. However, as inflationary pressure increased, more stringent monetary policies were used, leading to the increasing mortgage rates. Property market, nonetheless, welcomed tax incentives introduced in late March. Many new property projects, particularly condominiums, were launched in the second and third quarters of the year. Sales volumes of residential property developers, including those rated by TRIS Rating, increased.