The recent downward trend in construction costs and oil prices will not avert the forecast slowdown in Thailand’s property market, according to the country’s largest residential developer Land & Houses.

Anant Asavabhokin, the company’s chief executive, said that buyer confidence was subsiding in the wake of the global financial crisis.

Anant predicts that some developers will find it hard to survive the downturn and only the larger, more established companies will remain active in the market.

´´No one has said they would expand investment in 2009,´´ Anant said. As a result, supply of new developments will be reduced, as will be the number of active developers.

Thailand’s chronic political instability is also a factor that has badly affected the property market says Anant.
´´We have paid too much attention to politics and every sector seemingly has become worse.´´