Thailand’s property sector is facing a serious crisis due to high household debt and tight bank lending. Debt is at 90% of GDP, with many housing loans close to default. Weak economic growth and cautious banks have caused fewer home sales and delays in property transfers. Developers struggle with cash flow and bond repayments, risking unfinished projects. This crisis affects common people too: it’s harder to get home loans, housing prices may rise, and many jobs in construction and related industries are at risk. Buyers may face delays or lose money if projects stop. Experts warn the crisis could become an economic disaster without quick action. A plan calls for developers to manage debt and costs better, the government to provide loans, tax breaks, and mortgage support, and banks to ease lending rules and help developers. Urgent teamwork is needed to protect the housing market, save jobs, and help people afford homes.
Pray for joint action by the government and banks in Thailand to address the debt crisis in the property sector. Pray for job security for all the workers in the construction and related industries in the country (The Holy Bible, 2 Kings 6:26-27).
Pray for wise counsel for the Thai authorities to improve the economy of the country. Pray for divine provision for all the families in the country (The Holy Bible, Proverbs 11:14).
News Source: Asia News Network
Image Source: Canva
