Bangkok property market has "stagnated"

Investment in Bangkok's property market remains low, despite an increase in the number of properties available in the Thailand capital, a new study has concluded.

Research by real estate services firm Jones Lang LaSalle revealed that there is still disparity between the price expectations of buyers and sellers.

Managing director of the firm's Thailand branch Suphin Mechuchep stated that while interest in the market is still strong, actual investment activity in recent months has "stagnated".

"Investors are mostly looking for distressed assets offered at deeply discounted prices. At the same time, sellers refuse to dispose of their property assets at a loss," he explained.

And Jones Lang LaSalle's director of investments Umpon Thepnumsommanus noted that while the firm has received a number of enquiries regarding real estate, the vast majority are buyers looking for distressed assets.

Property expert Nick Marr recently claimed that Thailand offers "great potential" for investment, as it has attracted the interest of developers, airlines and holidaymakers.

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