The Thai real estate market will recover next year, one expert in the industry has stated.

Speaking to The Nation newspaper, chief executive of Raimon Land Hubert Viriot described the floods that have hit Bangkok recently as "a one-off event", adding that it would not affect the firm's expansion plans.

According to the publication, demand for new homes helped Raimon Land's presales climb by 23 per cent during the first nine months of this year, compared to the same period in 2010.

The company has also announced that it will embark on a construction project in Pattaya to deliver a condominium development.

An article written by James Pitchon, executive director of CB Richard Ellis (CBRE) research and CBRE consulting, Thailand, for the Bangkok Post earlier this month predicted that the flooding will have an impact on the city's property market going forward.

He noted that, in terms of residential sales, buyers are likely to favour condominiums over houses as belongings are less likely to be damaged by such natural disasters in high-rise buildings, while there will also be a focus on the flood protection measures in place at specific developments.
 

{loadposition user38} source: http://www.propertyshowrooms.com/thailand/property/news/2012-recovery-predicted-for-thai-property_311773.html