Despite continued interest and more properties offered for sale, investment activity in the Bangkok property market has been subdued as there remains a wide gap between buyers’ and sellers’ price expectations, according to Jones Lang LaSalle, a professional services firm specializing in real estate.
Suphin Mechuchep, managing director of Jones Lang LaSalle (Thailand), said “Buy-side interest in the Bangkok property market remains strong; however, investors are mostly looking for distressed assets offered at deeply discounted prices. At the same time, sellers refuse to dispose of their property assets at a loss, despite accepting the softer market conditions. As a result, investment activity in the Bangkok property market over recent months has stagnated, with buyers continuing to adopt a wait-and-see attitude, expecting prices to drop in response to the perception of value.”
