The stringent new mortgage rules will continue weakening the housing market next year, while the household debt crisis will return to normal, says the SET-listed Property Perfect Plc (PF).
As well, any effects from the political crisis will be short-lived.
Wongsakorn Prasitvipat, deputy chief business development officer, said the stricter mortgage rules by commercial banks will remain a big problem for the housing market into 2014.
"The market has been weak in the second half of this year and will continue to be so next year if banks don't relax these rules," he said.
The stricter regulations have increased the rejection rate for PF customers to 15% this year from 7-10% last year.
The housing market has slowed since the third quarter due to higher household debt, the first-time car buyer scheme and an inability to obtain home loans.
Houses prices from 1-3 million baht are the most heavily hit segment.
However, only the household debt problem will likely ease next year, said Mr Wongsakorn.
"The political problems and all these protests are making consumers less confident about buying big-ticket items such as cars and houses, but their purchasing power is still there," he said.
Mr Wongsakorn said it is too soon to tell whether political issues are having a strong negative effect on the market.
Still, PF plans to adjust its promotional campaigns and postpone marketing events for low-rise projects originally scheduled for next month.
The company will also cut its advertising budget for November and December, normally the high season for the housing market.
However, PF is now holding its Perfect Condo Showcase 2013 at CentralWorld until Sunday. The event features 10 condo projects _ four new ones worth a combined 8.7 billion baht and six existing ones worth four billion.
The projects are in Greater Bangkok and Hua Hin with units priced from 1.2 to 12 million baht.
"Political problems are definitely a concern for developers, as this sort of problem is uncontrollable. Rallies may obstruct traffic and make travel to the event inconvenient. But as long as there's no violence, we're confident we can achieve our sales target of 1 billion baht from the seven-day fair," said Mr Wongsakorn.
During the first 10 months of this year, PF achieved 9.5 billion baht in housing sales and expects 13 billion by year-end.
The full-year target was revised down in July from 17 billion baht due to some projects being postponed to next year.
But it will record extra revenue from selling large plots and setting up a property fund.