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Loan Plan Offers Just Part of Solution for Thai Property Market.

Bangkok Post (Bangkok, Thailand)

| December 24, 2001 | This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Wichit Sirithaveeporn

Dec. 24--While state measures aimed at spurring demand in the property market are welcome, genuine recovery for the sector would require more work in addressing basic weaknesses, developers say.

Atip Bijanonda, a deputy managing director at Supalai Plc, said that the recent lending programme by the Government Housing Bank and the Government Pension Fund had helped in boosting consumer sentiment and psychology.

Most of the applicants for the programme had sought mortgages for low-cost condominium units, he said, easing the current oversupply of nearly 40,000 units.

The programme has attracted 84,000 applications…

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