Political Risks and Impacts to Thailand Real Estate DevelopmentIndustry

Sukulpat Khumpaisal, Katkate Bunnag and Chonticha Tippratum
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Sukulpat Khumpaisal: Faculty of Architecture and Planning, Thammasat University, Bangkok, Thailand
Katkate Bunnag: Government Pension Fund, Bangkok, Thailand
Chonticha Tippratum: Faculty of Management Science, Chandrakrasem Rajabhat University, Bangkok, Thailand

International Journal of Business and Economic Affairs (IJBEA), 2018, vol. 3, issue 4, 146-152

Abstract: The political risk is counted as one of the critical factors that a ect Thai practitioners' con dences indeveloping the real estate development projects since the political turmoil and the delay in approving of project'sconstructions cause the severe damages to real estate industry. This paper portrays a better understanding of thepractitioners' perceptions on political risks in Thai real estate development sector in order to report the magnitudesof political risks and understand the perceptions of Thai developers and to search for the appropriate political risksreduction techniques. The research employed the quantitative methodology by classifying the characteristics andquantifying the perceptions towards the magnitude of political risks by using a questionnaire to 200 Thai developers. Itwas found that political risks involved since the pre-construction stage of real estate projects, which has strong in uenceto decision-makers, especially it may result in the delay in approving the projects and a ecting the project progress. Therespondents also addressed that the Thailand current political situation in uences the developers both in terms of thelikelihood to occur and the consequences to their businesses, as this factor will upset the consumer con dence in makinga decision to purchase the properties as well as the loan approval process at the nancial institutions.

Keywords: Political risks; Thailand; Real estate development; The developers (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aya:ijbeaa:2018:p:146-152

DOI: 10.24088/IJBEA-2018-34001

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