US tariffs to keep Thai housing in doldrums

Despite the reduction in transfer and mortgage fees and the easing of loan-to-value (LTV) limits, the housing market will continue to slow as consumers hold back spending amid economic uncertainties caused by US tariffs.

- KANANA KATHARANGSIPORN

Surachet Kongcheep, head of research & consultancy at property consultant Cushman & Wakefield Thailand, said the two measures — even when combined with a possible interest rate cut— would still have little impact on boosting demand.

“Reducing spending is necessary, especially as soaring gold prices signal major economic trouble,” he said. “As a result, people are spending less and the housing market will likely continue slowing this year.”

He said that the Thai economy remains sluggish, pressured by both local factors and global economic concerns, which are expected to persist for one or two years.