Thailand's once-booming condominium market is feeling the effects of the global economic slowdown.
A leading real estate consultancy said that property development is expected to drop some 18 per cent in Bangkok this year, due to the global financial crisis.
High demand has traditionally driven this sector, especially the condo market, as Thais rush to snap up apartments located along train lines to save on high gas prices and avoid Bangkok's notorious traffic.
Said Samma Kitsin, Director of Real Estate Information Centre: "People are getting married later than before and they tend not to have kids as early as before and people are maybe living together a few years before they get married. So this lifestyle means they don't need large areas."
