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Local Real Estate News
2020-09-16: CESA tackles foreign property stimulu: Bangkok Post
Property developers need new mechanisms to draw in the foreign market as the Center for Eco‐ nomic Situation Administration (CESA) is set to consider a stimulus package for this sector today.
There are two CESA agenda items focusing on the property sector: aid measures and a co-project with Thailand Elite Card to boost condo sales from foreign buyers.
Chanond Ruangkritya, president and chief executive of SET-listed Ananda Development, said Thai‐ land should reopen to tourists at specific destinations such as Phuket and Samui, with a focus on mar‐ kets with high potential such as China.
If the government can regain at least 20% of tourism revenue in those provinces, the property sec‐ tor will also benefit.
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16 Sep 20
2020-09-07: Monday: Pattaya’s new condo supply sags: Bangkok Post
The Bangkok Post reports that Phattarachai Taweewong, associate director at property consultant Colliers International Thailand, said a large number of newly launched condos totalling more than 15,500 units last year made devel‐ opers freeze new launches this year.
“Condo demand in Pattaya slowed after the virus hit globally, as Pattaya’s property market heavily relies on foreign buyers, particularly Chinese,” he said.