Government Holds Off Property Cooling Measures
While Hong Kong and Singapore have proactively instituted actions to cool down their overheating property markets, Thailand's government looks to stay on the sidelines.
According to industry reports there 80,000 residential units were sold in 2013. The Nation newspaper has reported that inventory of existing products at year-end exceeded 100,000 units.
Listed developers are saying that the outlook for 2013 is robust with end users and not speculators dominating the transaction market.
Debt to equity ratio's for the basket of leading real estate firms remains under two times, as developers are strongly lobbying this as a healthy underlying fundamental.
Arguably over the past 18 months Phuket has seen a rise in low-cost condos, which have swept up by buyers looking to cash in on the domestic housing boom.