CBRE says Covid still stymies market
Low tourist numbers affecting sector
The ongoing pandemic will continue to hamstring the property market this year, keeping it reliant on local demand as foreign travel remains sluggish, according to property consultant CBRE Thailand.
Managing director Roongrat Veeraparkkaroon said the recovery of the Thai economy last year was gradual, despite global economic growth, because the country’s GDP is heavily reliant on tourist arrivals.
“A decline in tourist numbers affected both residential and retail sectors,” she said.
“Given this challenge, the property market should adapt, be more proactive and brace for uncertainties that could emerge.”
Ms Roongrat…
