Housing prices to rise along oil prices

He said at a press conference on Tuesday that the higher oil prices will push up construction material prices.

 He also expected that the surburban housing market would suffer the most from the oil price spike, as homebuyers are concerned with the increase in transportation cost. Meanwhile, condominiums along the electric train routes would enjoy higher demand.

 "Yet, those who want to buy condominium units for speculative purpose should beware of risks," he said.

 He also noted that oil prices would not send much impact in inflation this year, but the persistently high levels would push up construction material costs.

 He also expressed confidence that the new government should keep interest low or allow a gradual increase, to delay passing on burden to consumers.

All oil retailers will also raise the retail prices of all fuel products by 40 satang per litre on Wednesday. Octane-95 petrol and diesel prices will climb to the new record highs at Bt31.19 and Bt28.14 per litre.

- The Nation