Boston, MA -- (SBWIRE) -- 05/11/2013 -- The Thailand Real Estate report examines the commercial office, retail, industrial and construction segments in the context of a subdued economy whose commercial real estate market is currently characterised by its reconstruction efforts.

With a focus on the principal cities of Bangkok, Rayong and Pattaya the report covers the rental market performance in terms of rates and yields over the past 24 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of global economic woes upon the sector. The key potential growth areas driven by increasing activity reconstruction damage caused by the 2011 floods are also explored alongside newly collected data covering rents and yields for full year 2012.

Concerns remain prominent among investors. However, Chinese corporate interest in the Thai real estate sector is coming to the surface. Following a recent business match-making roadshow to China, a number of Chinese firms have shown an interest in international collaboration. Thailand's stock as an investment destination among Chinese firms is rising, and the local Thai real estate sector is one industry which has been highlighted as an area of growing overseas interest. The office sector, however, is showing red flag warnings of a market becoming prone to oversupply.

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Key Points

- We continue to expect a recovery for Thailand's construction sector in 2012, with the underlying assumptions for a recovery (such as the implementation of flood prevention measures, robust building construction activity and conducive monetary conditions for construction) still holding firm. Indeed, strong reported performance in Q212 has prompted us to revise up our 2012 forecasts for Thailand's construction sector, with real growth expected to reach 5.0% in 2012, from a previous forecast of 4.0%. Looking ahead, we believe that the factors supporting out bullish 2012 outlook will spill over in 2013. This, combined with increased access to infrastructure financing and a large pipeline of infrastructure projects, should keep construction activity relatively robust over the coming years.
- Prime Minister Yingluck Shinawatra's recently announced infrastructure spending program could prove beneficial for the long-term growth of Thailand's economy and construction sector. However, we see increasing risks (such as cost overruns and higher borrowing costs) that the undertaking of large-scale infrastructure projects could undermine efforts to address the country's deteriorating fiscal position.
- Looking at the key factors that drive the commercial real estate sector in Thailand, we expect prospects for the rental market to remain subdued as expectations for a robust economic recovery are beginning to fade.

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