Buyer's market emerges in Thailand as developers struggle

13 Sept 12:13 Key points summarised by AI

Thailand's real estate market now favors buyers, with an oversupply of condominiums leading to attractive bargains and promotional incentives, while developers contend with excess inventory.
A recent earthquake has significantly dampened condominium demand, shifting buyer priorities to safety and construction quality, forcing developers to restore confidence amid existing backlogs.
Government stimulus measures, including relaxed Loan-to-Value (LTV) rules and reduced transfer fees, aim to boost homeownership, but new low-cost public housing projects threaten to intensify competition for private developers.
Analysts recommend strategic policies, such as raising the foreign ownership cap and encouraging suburban development with tax incentives, to address market imbalances and foster long-term growth.

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.