Some areas of Thailand property prices surge will not affect Thailand entire economy, according to Prasarn Trairatvorakul, governor of the Bank of Thailand (BOT). “The BOT does not see that the property price hike is caused by speculative inflows,” said Prasarn after the private sector called for the central bank to limit foreign capital inflows, and deal with the bubble in the bond, stock and property markets.
The problem has not reached a dangerous level, according to the Bangkok Post, who reported that the BOT are currently monitoring the situation.
“The BOT has some measures to deal with the inflows but all sides must take responsibility and help out as well,” commented Prasarn.
The amount of capital inflow into Thailand in 2010 exceeded that of 2011 and 2012, according to Prasarn.