Thai property market bruised, not battered

[SINGAPORE] With Thai developers already cutting back on marketing and promotional campaigns in the light of investors taking a wait-and-see approach, the extent to which Bangkok's property market is hurt by the current round of protests will depend on how quickly the political situation is resolved.

Already, both listed and non-listed developers have announced that they would reduce the number of new project launches in Bangkok in the coming year while waiting for a clearer picture on the political situation, said Surachet Kong-cheep, associate director of research at Colliers International Thailand.

"For instance, Pruksa Real Estate has announced that they have plans to launch about 50 projects in 2014 compared to approximately 70 projects each in 2012 and 2013," said Mr Kongcheep. "AP Thai is planing to launch some 20 projects in 2014, as opposed to 30 projects in 2013."