Little impact on realty expected from Thai coup

Little impact on realty expected from Thai coup
Thai soldiers ask people to disperse after they broke up an anti-coup gathering in Bangkok.

While the military coup is expected to be negative for the country's investment sentiment, the impact on the real-estate industry has remained minimal, according to international property services firm Jones Lang LaSalle.

"Our discussions with clients and business partners, including property developers, investors and corporate occupiers, showed that the coup came as no surprise.

"Many of them had not expected negotiations between pro- and anti-government parties facilitated by the Army to settle the country's political crisis," managing director Suphin Mechuchep said yesterday.

Most property players have appeared immune to the political situation. They have experienced many disruptions in the past, such as coups, political violence and natural disasters.

Experience showed that most of these disruptions had either short-lived or limited direct impact on the real-estate industry.

In fact, economic crises were more harmful to real estate. Capital and rental values in some property sectors fell during the Asian financial crisis of 1997-98 and the global financial crisis of 2007-08.

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