Signs of speculation in the real estate sector were detected by the Bank of Thailand (BoT)

The central bank will closely monitor the situation although there are still no factors that cause concern. Despite the signs of speculative real estate investment the property demand in Bangkok and the vicinity was slowing down. Commercial banks have approved loans for 6,011 units of residence in April, decreasing from March, as a result of the banks’ stricter loan regulations. A shortage of laborers and scarcity of land for condominium development also affected condominium growth at present.

The price index of residences in Bangkok and the vicinity, prices of land, single homes, and townhouses dropped in April.