PROPERTY
Prices to keep rising
- Published: 19 Feb 2013 at 00.00
- Newspaper section: Business
Experts believe the property industry could expand steadily over the next five years thanks to a healthy economy and urbanised lifestyles that generate genuine demand rather than massive speculation.
Concerns have arisen that fast growth of residential projects in Bangkok and major provincial cities in recent years was spurred by unsustainable gains in people's wealth from the stock market driven by increasing foreign portfolio investment.
Kitti Patpongpibul, chairman of the Housing Finance Association, told a forum on property trends as an economic indicator that property prices have continued to rise over the past decade and could rise steadily over the next five years. He has been concerned about the economic stability of bank lending per appraised value _ the loan-to-value ratio _ of 90% for condominium units worth 10 million baht and less, and 95% for single houses.
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