War in Ukraine sends construction material prices in Thailand soaring

14 Sept 02:36 Key points summarised by AI

The war in Ukraine has caused a significant surge in construction material prices in Thailand, particularly for iron rod and steel products, which have increased 35% year-on-year.
This price hike is attributed to Russia and Ukraine's critical role as major global suppliers of iron and steel, collectively accounting for 14% of global exports.
Thailand's price index for standard home construction rose 5.3% year-on-year in the first quarter, with structural engineering work costs climbing 12%.
While most construction materials, except tiles, experienced price increases ranging from 4.6% to 35%, labor costs in the sector have remained stable.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.