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    Bubble fears as Bangkok property boom rises

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    PressTV

    by PressTV

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    The Bank of Thailand has described 2010, in its annual report as the "golden year for real estate businesses", with high demand for homes, encouraged by low interest rates for mortgages causing a property boom in Bangkok. This resulted in a 13.6% increase in registrations of new homes in the city, described as the highest level since the 1997 crisis. According to the bank, there are more than 135,000 unsold property units in Bangkok and its suburbs as of July 2011, including projects under construction. Another 100,000 units are expected to be added to the market next year.