The Thai economy remains mired in problems related both to the global financial crisis, which has seen exports shrink dramatically, and to the ongoing political uncertainty, which threatens to flare into open conflict and violence at any time. Both these factors have contributed to the collapse of the tourist industry, with hotels in Bangkok reporting the most difficult trading in a lifetime - although reports from the southern island of Phuket suggest a return to something like business as usual as the country goes into its traditional high season. GDP grew for a second quarter in Q309 as the economies of Thailand's export destination countries picked up. Nevertheless the situation remains fragile. The economy expanded 1.3% in Q309 from the previous quarter although total GDP remained below pre-crisis levels. Residential condominium developers in Q409 were talking up prospects for 2010, but the sector remains heavily oversupplied. Housing sales totalled 45,000 units worth THB138bn in the first nine months of the year - down from 73,000 units worth THB212bn in the same period 2008 according to official figures. Many expatriates left the country in the wake of events in 2008. The office sector is dogged by similar oversupply issues but they are overshadowed by the steep slowdown in business activity. We anticipate rental values will remain virtually unchanged into 2010 with only slow growth foreseeable after that.
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Report Table of Contents:
Executive Summary
- Key Features Of This Report
- SWOT Analysis
- Thailand Real Estate/ Construction SWOT
- Thailand Economic Swot
- Thailand Business Environment Swot
- Real Estate Market Overview
- Key Projects
- Construction Overview
- New And Ongoing Construction
- Residential Construction
- Commercial Construction
- Industrial Construction
- Tourism Construction
Table: Major Thai Infrastructure Projects - Transport
Table: Major Thai Infrastructure Projects - Energy And Utilities
Table: Thailand - Major Infrastructure Projects - Construction
- Real Estate Investment Trusts - End 2009
Table: FTSE EPRA/NAREIT Global Real Estate Indices Total Returns (%, US dollar terms)
- North America
Table: US REITs - Total Returns (%, US dollar terms)
- Asia Pacific
- Europe
- Industry Finance Outlook
- Global Outlook
Table: Loan Growth, 2006-2013 (% Change y-o-y)
Table: Loan-To-Deposit Ratios, 2006-2013
- Regional Outlooks
- Central And Eastern Europe
- Latin America
- Emerging Asia
- Middle East
- Sub-Saharan Africa
- Thailand Monetary Policy
Table: Thailand - Monetary Policy 2007-2014
- Industry Forecast Scenario
Table: Asia Pacific Housing Prices At A Glance (% change y-o-y)
Table: Asia Pacific Office Rents, CBRE
Table: Current And Forecast Office Rents, 2008-2014 (US$ per square metre per month)
- Thailand Real Estate Forecasts
- Future Directions
- Thailand's Construction Industry
Table: Thailand's Construction Industry, 2007-2014
- Macroeconomic Outlook
Table: Thailand - Economic Activity 2007-2014
- Business Environment
- Real Estate/Construction Business Environment Ratings
Table: Asia Real Estate/Construction Business Environment Ratings
- Thailand's RECBER
- Asia Pacific Project Finance Ratings
Table: Design And Construction Rating
Table: Commissioning And Operating Rating
Table: Overall Project Finance Rating
- Thailand's Business Environment
Table: Business And Operational Risk Ratings
Table: BMI's Legal Framework Ratings
Table: Labour Force Quality
- Market Orientation
Table: Annual FDI Inflows Into Asia, 2006 And 2007
Table: Thailand's Top Export Destinations, 2000-2007 (US$mn)
Table: BMI's Trade Ratings
- Operational Risk
- Company Monitor
- Italian-Thai Development (ITD) Public Company (ITD)
- Central Pattana Plc (CPN)
- Rasa Property Development Plc
- Land and Houses
- TCC Capital Land
- Raimon Land PLC
- BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
Table: Weighting Of Indicators
- Project Finance Ratings Indicators
Table: Design And Construction Phase
Table: Commissioning And Operating Phase - Commercial Construction
Table: Commissioning And Operating Phase - Energy And Utilities
Table: Commissioning And Operating Phase - Transport
- Sources
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