Thailand’s luxury property market ‘remains static’

The luxury property market in Bangkok was broadly static during the second quarter of the year, new figures show.

Research published by CB Richard Ellis (CBRE) showed that this sector of the Thai real estate industry has seen a slight fall in capital values in this period, in part due to a reduction in the number of buy-to-let investors entering the sector.

CBRE has predicted that this weakening in demand among investors is likely to "exert further downward pressure on prices in the third quarter".

However, the firm noted that average rents rose marginally, due to tenant demand for higher-quality accommodation.