Thai property sector recovery delayed amid Omicron, says state loan agency


BANGKOK, Feb 20 (Reuters): Thailand's property market may not return to pre-pandemic levels until 2024, due to a slower-than-expected economic recovery amid a new coronavirus outbreak and higher inflation, the research unit of a state home loan lender has announced.

In November, the research centre had forecast the property market would normalise in 2023 following an easing of mortgage rules to revive a key sector that accounts for about 10% of gross domestic product (GDP) and employs 2.8 million people.

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