PHUKET: The budget condominium segment in Phuket and many other cities in Thailand is now suffering from the large supply that has inundated the market over the past 5 to 7 years, Phanom Kanjanathiemthao, Managing Director of Knight Frank Chartered Company, said this week. This low-end market, with units costing from about 1.1 to 1.8 million baht, has also very clearly been impacted by Thailand’s slower economic growth, with the Asian Development Bank getting ready to revise downward its projected GDP growth for the year, reported at just 2.9 percent for the first half.
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Supply overload shakes budget condo sector
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