K PLUS brings financial convenience to expats in Thailand

Thailand is a popular destination for expatriates from across the globe. The country’s vibrant atmosphere, lovely people and interesting culture draw many foreigners to settle here. Based on Foreign Workers Administration Office, Department of Employment, Ministry of Labour data, 143,487 foreign professionals and skilled workers were living in Thailand as of end-October 2020. The Expat City Ranking 2020, issued by InterNations, places Bangkok 30th out of 66 cities featured in

Economic fire continues to rage

The struggles and successes amid the pandemic may be permanent. Fighting the pandemic and keeping the ailing economy going have been almost insurmountable tasks for Thailand this year. The Bank of Thailand has forecast a GDP contraction of 7.8% in 2020, crucially weighed down by the outbreak. After wading through the first lockdown and fending off new local infections for months, a sudden spike in new infections this week is expected to drag businesses back towards the circli

Thailand’s property market waits for an end to Covid-19

The Coronavirus outbreak poses challenges for Thailand’s property market as potential Chinese condominium buyers remain stranded in China. Meanwhile, some believe that the outbreak may bring opportunities for non-Chinese buyers and in the long-run, the Chinese may be looking for an overseas refuge in the event of these types of emergencies popping up again Through all this, there will be a certain level of pent up demand for Thai real estate. Of course, it’s not just the Chin

Property developers optimistic about stimulus

The Finance Ministry may consider a proposal by property developer associations on approving stimulus relief for outstanding mortgage loans totalling 600 billion baht as a means to improve sentiment regarding property stock, especially in the condo segment, says Asia Plus Securities (ASP). On Dec 9, property developers submitted a letter to the ministry proposing five stimulus measures for property development. First is the reduction of ownership transfer fees and mortgage fe

Thailand's economic outlook for 2021

The Thai economy will grow next year after contracting by almost 10% this year. Next year, the Thai economy is expected to expand 3 to 4% from this year. It will not be until the end of 2022 before the Thai economy returns to its pre-Covid level of 2019. However, if there is another wave of Covid-19 in Thailand, or if effective vaccines are delayed, the recovery could be slower than anticipated. The recovery is contingent upon a rebound in tourism and exports. Should large-sc