Mar 5, 2024
Thai Housing Market Faces Challenges with Increasing Loan Rejections for Homes Below 3 Million Baht
The rejection rate for loan applications for homes priced below 3 million baht in Thailand has spiked to 50%, attributed to factors such as high household debt, declining incomes, and rising living costs. Financial institutions are adopting stricter lending criteria due to increasing non-performing loans, leading to challenges in obtaining loans for residential properties in this segment.