Author: Sopon Pornchokchai
AIT Library Call Number: AIT Diss no. HS-04-01
Year: 2004
Academic Program: Human Settlement (HS)
Type: Thesis (Ph.D.) – Asian Institute of Technology, 2004
Examination Committee: L.A.S. Ranjith Perera (Chairperson); Kioe Sheng Yap, F.W. Swierczek, Edsel E. Sajor, David Dowall (Examination Committee Members)
Abstract: Housing development in Thailand, particularly in the Bangkok Metropolitan Region (BMR), is a peculiar subject for research. Housing development in the BMR during the last three decades has been exceptional in that the private sector has led the push to house the population while the public sector has played a subordinate role. It is interesting to note that subsidized public housing has played a very small role in the housing market. Most people, including lower-income groups, could afford a house sold in the open market during the period of economic boom during the late 1980s and early 1990s. As a result private property developers were encouraged to produce more housing units and slums and shanties decreased in number. However, at the same time a new housing problem emerged in the form of oversupply, particularly of low-income housing, leading to massive waste in economic and social investment. This study focuses its attention on the role of the private sector in the housing market after the economic crisis. The study begins with an extensive review of previous studies on the real estate market conducted during the period of economic boom. Similar cases on market speculation in other countries are reviewed to understand the phenomena from a theoretical point of view. Special attention is paid to recent housing developments in the BMR between 1997 and 2002, which is the period after economic bust. Selected housing projects were surveyed to understand the patterns of sales, changes in prices, and trends in occupation involving time series data from 1990-2002. In addition, interviews of occupants were conducted to understand their decision making process in housing investments. Lastly, developers were interviewed to explore their experiences in housing development during the periods of economic boom and bust. Both developers and regulators were found to possess limited experience with high risk decision making. As a result of their gigantic and careless investments, some 350,000 unoccupied housing units were avai
Scholarship Donor(s):
Note: A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy, School of Environment, Resources and Development
Advisory: Full-text is available at https://library.ait.ac.th/ (accessible to local ip address only)
