Trump’s reciprocal tariffs on April 2 on countries deemed to have unfair trade barriers against US goods. TH is in both lists, “Dirty 15” and 21 countries “particularly interested”.
Office of Insurance Commission says all 4 insurers including TIPH, BKIH, INSURE and Viriyah Insurance are ready for payment of large claims from Bt2.3b State Audit building collapse case; but insurers shall not be liable for loss or damage due to fraudulent or defects of material workmanship design plan or specification
Quake rocks property market: Condo sales set to fall to lowest since 2010. Cracks and damage found in many high-rise condos in Bangkok after Friday’s earthquake have rattled consumer confidence, likely making this year’s second quarter the weakest quarter for condo sales and transfers in 15 years. Bangkok Post
Upheaval leads to slower bookings, cancellation queries: Friday’s earthquake has struck the Thai tourism industry, leading to slow bookings for the upcoming Songkran holiday, while airlines have started receiving inquiries for refunds and cancellations. Bangkok Post
The central bank believes Friday’s quake will further slow the already sluggish recovery of the property sector and hit tourist arrivals.: Central bank also sees hit to property. The central bank’s initial assessment suggested that the tragic event would affect economic activities across three key sectors – property, tourism and domestic consumption – according to Sakkapop Panyanukul, assistant governor for the Bank of Thailand’s monetary policy group. Bangkok Post
A local brokerage thinks expected US tariffs could hamstring the Thai economy, possibly posting growth of 1.3% in 2025.: Thai growth could dip to 1.3%. The reciprocal tariffs expected to be announced by US President Donald Trump today could shrink Thai GDP by as much as 1.2 percentage points from a forecast of 2.5%, with the Bank of Thailand’s one projected interest rate cut doing very little to shore up the economy, says InnovestX Securities.
Thai power transmission continued uninterrupted during the major earthquake last week in a check of energy security.: Supply withstood power security test. Electricity generation faced some technical glitches during the March 28 earthquake, but operators managed to keep power transmission uninterrupted, surviving what could be a real test for the nation’s power security, says the Energy Regulatory Commission (ERC). Bangkok Post
Fee cuts for B7m range lift home demand: Measure helped to stimulate market. The reduction in transfer and mortgage fees for units priced 7 million baht or less, which expired last year, lifted home demand in Bangkok within this price range, according to a recent survey. Siddhipen Siddharthapong, acting assistant director-general of the Real Estate Information Center (REIC), said the measure was quite effective in stimulating housing demand. “Homebuyer sentiment in the fourth quarter last year was relatively weak, with new condo sales in Bangkok dropping by 25% and new low-rise sales by 31%, resulting in an overall decline of 27%,” she said. Bangkok Post
US tariffs to trim Thai GDP level: Imports of American goods may rise. A group of Thai industry leaders expects the planned US reciprocal tariffs to reduce Thai GDP growth by 0.2-0.6 percentage points this year, keeping the forecast within the existing range of 2.4-2.9%. Bangkok Post
Don’t hold your breath: Projected sales boost seen falling short. Access to mortgages remains challenging for prospective buyers with a lower income. A property consultancy expects the recent easing of loan-to-value limits for property will have a muted effect. The recent easing of loan-to-value (LTV) limits may not boost residential transfers and sales as much as expected, particularly after last week’s earthquake in Myanmar impacted the high-rise condo market. Bangkok Post
