Thai developers 'adjusting to the economic downturn'

The economic downturn has resulted in developers in Thailand making changes to the types of properties they have available.

This is the view of Marcus Burtenshaw, director at Knight Frank Chartered Thailand, who told Property Report Asia that many are carrying out more market research to ascertain trends among those looking to purchase real estate in the country.

Noting that the high-end market in the country has suffered of late, he told the news source: "Developers might find that projects directed to the mid-range or budget end will be more successful."

Mr Burtenshaw added that construction is still continuing despite the financial crisis, with lower commodity prices meaning that developers are "pushing ahead with carefully considered projects".

Elsewhere in Asia, the Global Property Guide for 2009 recently stated that the effects of the global economic downturn on the property market in Malaysia have been minor.

It ranked the country as ninth out of a total of 91 territories.

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