Boston, MA -- (SBWIRE) -- 07/02/2014 -- As political protests continue in the Thai capital and the army takes charge, the commercial real estate sector is in general proving resilient. However, our key downside risk for the sector remains that political tensions will escalate, affecting economic growth and deterring investment and tourism into the country.
While the commercial real estate market has significant long-term strengths, including an investor-friendly business environment, Thailand's strategic location and its status as an exporter, in the short term the sector could suffer as a result of the ongoing political upheaval, which led to the coup in May 2014.
Economic growth has already begun to drop off, falling by 2.1% quarter-on-quarter in Q114, with the manufacturing and construction sectors particularly hard hit. While exports have held up, and the new military government has made economic stability a priority, quickly releasing budget proposals, if stability is not achieved, investor confidence and other economic indicators that affect the commercial real estate sector could be affected. These include consumer spending and tourism numbers, although for now our in-country sources feel that it is industrial real estate that has been most affected, as investment dries up.
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The political unrest has centred on Bangkok, the capital, mostly leaving other areas of the country untouched, although investment into other areas could certainly be affected.
However, on the positive side, Thailand's attractions include its location in the heart of South East Asia. From 2015 the ASEAN Economic Community is set to create a single market for the countries of the Association of South East Asian Nations (ASEAN). This should particularly support office and industrial real estate.
Meanwhile, Thailand is an enduringly popular holiday destination, and as such hospitality-related real estate is thriving. We are expecting an increase in the number of tourist arrivals into the country over the next few...
The Thailand Real Estate Report features Business Monitor International (BMI)'s market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.
BMI's Thailand Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Thailand.
- Benchmark BMI's independent real estate industry forecasts for Thailand to test other views - a key input for successful budgeting and strategic business planning in the Thai real estate market.
- Target business opportunities and risks in Thailand through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering real estate and construction, regulatory changes, major investments and projects and significant national and multinational company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the real estate sector and within the broader political, financial, economic and business environment.
Overview of the real estate sector, including analysis of existing/planned real estate developments and emerging industry trends in the office, industrial and commercial sectors.
Features detailed city-level data and analysis on rental prices, yields, contract terms and real estate availability with separate chapters covering the office, retail and industrial sub-sectors.
Industry Forecast Scenario
Historical data series (2010-2012) and forecasts to end-2018 for the domestic real estate industry and for the local and global finance industry. Indicators include:
Real Estate: Office, retail and industrial real estate yields for all major cities (%); short-term forecasts on minimum and maximum real estate rental prices by sub-sector (US$ per square metre, and local currency per square metre)
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