11 July 2024

The confidence index of real estate developers for the second quarter of this year has dropped to 42.2 points from 50.4 points for the first quarter.

The second quarter falls below the 50.0 point median index, reflecting developers’ declining confidence in the economic situation and investment in Thailand. Real estate developers are also waiting for the government’s policy on real estate and housing development to be clarified.

The substantial drop in the confidence index for Q2 stemmed largely from a decline in the confidence index of listed real estate companies, from 52.2 points in the first quarter to 41.9 in the second quarter, against a 50.0 point median level.

The confidence index of non-listed real estate companies also fell to 42.7 points in the second quarter from 47.7 points in the first quarter.

The expectation index of real estate situation in the next six months registered at 58.0 points for the second quarter this year compared to 58.4 points for the first quarter. This shows that the developers are optimistic that the economic situation will pick up after the formation of the new government.

The expectation index of non-listed companies was registered at 53.1 points for the second quarter, compared to 56.1 points for the first quarter, reflecting that the real estate developers are optimistic that real estate situation in the next six months will improve.