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The recent housing market decline in
the US is unlikely to impact upon the economy in Thailand,
according to one expert.
Suchada Kirakul, assistant governor of the Bank of Thailand,
said that investors are losing confidence in the US dollar
and choosing to look to other markets instead, Thomson
Financial reports.
"But in Thailand we have several measures to monitor
capital flows, while the property market has not over-expanded,"
Ms Kirakul said.
Although the news provider reports that concerns have
been raised that the US mortgage market may have had a
negative impact upon Asian stocks, the problems faced
by investors in the US are "certain" not to
happen in Thailand, Ms Kirakul stated.
Last month, James Pitchon, executive director of CB Richard
Ellis Thailand, said that the country is in a "very
strong" position to attract foreign retirees and
second home buyers, the Bangkok Post reports.
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