Thai developer LPN sees condo market slowing

Bangkok

THAILAND'S biggest condominium developer LPN Development pcl said on Thursday that the company is cautious about buying land as domestic demand for high-rise buildings weakens and banks restrict lending to home buyers.

Several property developers have changed strategies to focus on single-detached houses and townhomes after bookings of condominiums slowed in recent months, managing director Opas Sripayak told investors during a quarterly earnings presentation.