Thailand property shares 'go up in value'

Property shares in Thailand have exhibited an increase after the country was buoyed by developments in the US market.

Predictions of low interest rates, an improved economic outlook and a rise in consumer confidence have all contributed to the nation's property sector index leaping 2.6 per cent yesterday to its highest level in 12 months (August 24th), Reuters reports.

Homebuilder Land & Houses saw a rise of 4.8 per cent in its share value - up to THB6.60 (GBP 0.12) - which is an 11-month peak for the company.

Meanwhile, Quality Houses experienced a year high of THB2.08 when its stocks climbed 5.6 per cent.

According to the news source, Thailand emerged from its worst recession in 11 years in the second quarter of 2009.

The Thailand Property Awards 2009 will be held at the Grand Hyatt Erawan Bangkok Hotel on November 7th to celebrate the country's real estate and construction industries.