'No danger' of Pattaya condominium oversupply | Bangkok Post: business

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'No danger' of Pattaya condominium oversupply

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Pattaya's condominium market will not see an oversupply, as projects with a large number of unsold units are unlikely to get off the ground, says an industry expert. 

"An oversupply will not happen in the Pattaya condo market like what happened in the 1997 financial crisis," said Simon Derville, deputy vice-president of the SET-listed developer Raimon Land Plc.

"Any projects that have a sales rate lower than than the bank's requirement will be subject to denial for financing for construction. This scenario will not increase the number of unsold units in the market."

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