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Failure to Launch

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Posted: 04 Jun 2009 | 7:58 am

The quietness on property launches so far this year is deafening. With the exception of Surin's "The Quarter' which hit the market in Q1 so far resort grade real estate entries have been muted. I'm in Bangkok today where leading developer TCC have announced two new condominium launches for H2 2009 at a consolidated valued over THB 4 billion. In the capital's dailies the TCC CEO has been quoted as saying "we will focus on Thai buyers rather then foreigners, as they still have no confidence in Thailand."

Its interesting to note another leading edge indicator with Thailand's largest cement maker SCG reporting a forecasted 10-15% drop in demand for the full year and stating they have reduced prices on some products by 10% to fuel revenue. At the same time they have cancelled plans for an expansion in Cambodia who is also feeling the strain of the economic slowdown.

DO YOU LIKE THIS?

It doesnt help Phuket when A Current Affairs, Australias most popular TV program, runs this sotry last night about Phuket.
http://aca.ninemsn.com.au/Blog.aspx?&blogentryid=420919&showcomments=true
My neighbours are looking at cancelling their trip, any suggestions phuketinsider ?

Bill Barnett responds:
Agree so much is sentiment driven at the moment the only thing we know in the day of instant news, the tide will shift in time to somewhere else.

Ian Spencer, 05 Jun 2009 | 9:42 am

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