Housing sector latest victim of war

AI Summary

The ongoing conflict in the Middle East has significantly impacted Thailand's housing market, leading it to contract for a fourth consecutive year. Economic pressures such as high household debt and rising living costs are exacerbating the situation.

Given the sagging economy and conflict in the Middle East, the residential market is expected to contract for a fourth consecutive year in 2026, weighed down by persistent high household debt, rising living costs and tight lending, according to Siam Commercial Bank Economic Intelligence Center (EIC).