Developers are concerned about the negative impact political unrest may have on housing market sentiment.
The government should consider the country’s economy and people first . . . Negotiation is very important now. APA ATABOONWONGSE Vice-president, Thai Condominium Association
Issara Boonyoung, honorary president of the Housing Business Association, said housing sales this month may slow as homebuyers are deterred from making decisions due to political problems.
"The number of people who disagree with the amnesty bill is increasing. We just hope the Senate will not accept it or the draft will not be approved. If the draft is approved, the anti-amnesty rally will prolong," he said.
The Senate will decide whether to accept the bill on Nov 11. The House & Condo Fair from Nov 14-17 will be affected if protests continue, with the number of visitors likely to be lower than targeted.
Apa Ataboonwongse, vice-president and secretary-general of the Thai Condominium Association, said the number of visitors will be 20-30% lower than usual as people are not in the mood to choose a housing unit amid political problems.
Ms Apa, also president of developer Richy Place 2002 Co, said the company may cut its sales target at the fair as housing sentiment will be unfavourable if the amnesty bill passes and more protesters join the rally.
On Nov 12, the company plans to submit a filing to the Securities and Exchange Commission. However, the company is not confident in the situation, even though its financial adviser suggested it proceed.
"The government should consider the country's economy and people first, while its issue should be considered at a gradual pace. Negotiation is very important now," Ms Apa said.
Kittipol Pramoj na Ayudhya, managing director of SET-listed developer Sammakorn Plc, said housing transfers in the fourth quarter will be as usual but housing sales, which many developers hope to boost late in the year, may slow down.
Real demand will continue to influence decisions but people who want to speculate or invest in condo units may freeze their plans.