Problems in Thai property sector cast a shadow over hotel industry

18 Sept 09:42 Key points summarised by AI

Thailand's property sector grapples with persistent low demand, a high loan rejection rate (up to 50%), and oversupply, with the central bank's temporary loan-to-value (LTV) relaxation offering limited relief.
The hotel industry faces unfair competition from foreign-owned condominiums offering daily rentals, often via Airbnb, which bypass the stringent regulations and tax obligations imposed on licensed hotels.
Lawmakers are urging the government to implement stricter enforcement and new regulations, such as mandatory registration for condo rentals and area-specific restrictions, to protect local hotels and residents.
The financial health of lenders is threatened by a sharp increase in housing non-performing loans (NPLs), reaching 236.6 billion baht, leading banks to be cautious with mortgage approvals and further dampening the property market.

Lamphun in a New Light

Today 15:02 Key points summarised by AI

Lamphun illuminates its ancient city with two concurrent light festivals: the high-tech VIJIT Thailand @ LAMPHUN and the traditional Hundred Thousand Lantern Festival.
VIJIT Thailand @ LAMPHUN transforms historic landmarks into an outdoor gallery, using projections and multimedia to animate Lamphun's history, including Queen Chamadevi's story.
The Hundred Thousand Lantern Festival, part of Yi Peng, fills temples and streets with countless traditional lanterns, symbolizing Buddhist devotion and personal wishes.
These festivals offer a unique after-dark experience, blending contemporary light art with centuries-old Lanna traditions, connecting visitors to Lamphun's past and faith.