Mortgages hold up Isan buysThe property market in northeastern provinces has stirred to life after lockdown restrictions were eased, but mortgage rejections remain a problem, according to local developers. Channarong Buristrakul, honorary president of the Khon Kaen Real Estate Association, said many developers in the province quickly adjusted by reducing launches. Mr Channarong said the northeastern property market will gradually pick up as there will be a number of natives born there that will return to their hometowns as they reach retirement age. According to the REIC, five major provinces in the Northeast will see a further sharp drop in the monthly absorption rate of residential units in 2020. New residential supply being launched in those provinces this year will decline 41-53% from 2019, except for Maha Sarakham, which will rise to 88 units from 64 units.

Source: Bangkok Post June 10, 2020 19:18 UTC