Bangkok blast expected to further weaken property market

Bangkok

THE deadly Erawan Shrine bombing is expected to weaken already soft demand in the property market, prompting many residential developers to rethink and even scale down their plans for the next four months, normally considered the sector's high season.

In the wake of the bombing on Aug 17, Stock Exchange of Thailand-listed developers including Supalai plc, Property Perfect plc (PF), Major Development plc and Noble Development plc have decided to postpone some or all of the projects they had planned to launch this year.