Real Estate Confidence on the Rise: Stimulus Measures Boost Outlook for Remainder of 2024

The Real Estate Information Center Government Housing Bank (REIC) has released its Residential Operator Confidence Index for the first quarter of 2024, revealing a slight increase to 48.3. While still below the median value of 50.0, this uptick indicates a growing confidence among operators, largely attributed to economic stimulus measures introduced through the real estate sector.

Dr. Vichai Viratkapan, the Housing Bank Ombudsman and Acting Director of the Real Estate Information Center, noted that the overall confidence level among operators had been lower than the standard 50.0 for five consecutive quarters until Q1 2024. However, signs of improvement are now evident, with various aspects showing positive trends.

Listed companies, in particular, demonstrated a notable increase in confidence, with an index of 52.5 compared to the previous quarter’s 48.1. This optimism is driven by factors such as new project openings, increased investment, improved employment rates, and higher sales figures.

Conversely, non-listed companies continue to exhibit lower confidence levels, recording an index of 41.9 for Q1 2024. Despite this, the overall outlook for the next six months remains positive, with a confidence index of 57.3, albeit slightly lower than the previous quarter.

The survey was conducted before the announcement of government stimulus measures on April 9, 2024. These measures include extending the reduction of ownership transfer and mortgage fees to 0.01% per category for homes priced under 7 million baht, as well as offering low-interest loans. It is anticipated that these initiatives will further bolster confidence among real estate operators, stimulating investment, new project development, sales, and overall performance in the sector for the remainder of 2024.

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Ref. https://www.thansettakij.com/

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