PROPERTY FOCUS
Second-hand market steady
Optimism beginning to return after last year’s calamity but new flood fears have buyers and sellers on edge.
- Published: 14 Nov 2012 at 17.01
- Online news: News
Bangkok’s second-hand housing market has improved considerably after struggling in the wake of last year’s heavy floods. There is still lingering uncertainty about how the capital will deal with the 2012 flood season, but if no major calamities occur, the resale residential market should be fully back to normal next year.
Thais are more willing to buy old houses first and demand is growing after last year's floods. But the market still remains edgy until buyers see how floods this year are handled.
Somsak Muneepeerakul, president of the Real Estate Brokers Association of Thailand (REBA), said the second-hand housing market began recovering in the second quarter of this year.
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