Housing developers tighten noose amid uncertainty

As the pandemic has unsettled the market, housing developers in greater Bangkok have implemented more stringent cost-saving measures while continuing plans for new project launches, according to the Real Estate Information Center (REIC).

The centre’s acting director-general, Vichai Viratkapan, said the sentiment index of developers in Bangkok in the first quarter of 2021 was lower than the median for eight consecutive quarters as the Covid-19 crisis continues.

“Even though the overall situation in the first quarter improved this year, developers are still laying off staff to save development costs as the outbreak remains a big concern,” he said.

According to REIC, the current index amongst developers in Bangkok in the first quarter of 2021 was 46.3. The figure remained unchanged from the fourth quarter last year but it was below the median at 50.0.

“The index went…