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Published on July 4, 2007

The political turmoil is "bottoming out", and the situation will become clearer if the Constitution Drafting Assembly votes as expected on the completed second draft of the new charter by Friday, he said.

"Once the government announces an election date, the property market will take off, 100 per cent," he said.

Moreover, there is a tendency for mortgage rates to decrease, with the Government Housing Bank (GHB) announcing its latest fixed rate of 4.9 per cent per annum last week.

Commercial banks are likely to decrease their mortgage rates to follow GHB, and the lower rates will enhance a tendency towards higher purchasing power, Chaiyan said.

The economic upturn, shown in an export growth rate of 20 per cent in April, is also a good sign.

He said any progress in the mass-transit electric-train project would boost sentiment in the investment sector, and funds would flow into Asian stock markets from outside the region.

Chaiyan said figures for April showed 2-per-cent growth year on year in property sales, mainly condominiums. Single-house sales in April still showed negative growth but not as pronounced.

Proving its confidence, Lalin Property yesterday launched a new detached-housing project worth Bt650 million. It will be located in Theparak-Suvarnabhumi area.

Baan Burirom, The Innovation, will feature 265 units on 7.5 hectares of land.

Sasithorn Ongdee

The Nation