Ultimately, the market will recover along with the broader economy; however, the effects of the current crisis and the lessons learned will likely change its characteristics forever.
Bangkok’s condominium market at the start of 2020 was entering into a period of severe change, driven by a fall in buyer demand and by the large amount of unsold inventory that had become a risk for developers. COVID-19 has exacerbated these trends, placing developers under further strain as they struggle with these large unsold inventories and even lower buyer demand. With a prolonged period of economic hardship anticipated, it is time for developers to reconsider their options and time for buyers to seek opportunity. Click here to read more on this issue: https://bit.ly/3cmdS0L