Quality Houses, which operates Centre Point serviced apartment, witnessed at least a 10 per cent drop in occupancy rate for the Songkran festival.
The occupancy rate is now 70 per cent, said Suwanna Buddhaprasart, senior executive vice president. She added that prolonged protests would only worsen the situation and that both sides should renew negotiation. Inconvenience, which also slows down demand for city condominiums, would not benefit the protesters.
Aliwassa Pathnadabutr, managing director of CB Richard Ellis (Thailand), said that some client developers whose condominium projects are located along the skytrain have temporarily stopped marketing activities. The activities should resume after mid-May.
Meanwhile, she noted that foreign investors, looking to invest money in downtown property, have also adopted the wait and see attitude, waiting for the dust to settle. She said the flow has been halted since 2009.
