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Addae-Dapaah, K and Ching, W H (2003) Effects of property acquisition and disposal on property stock value. Journal of Financial Management of Property and Construction, 8(03), 139–54.

Chau, K W, Wong, S K and Yiu, C Y (2003) Price discovery function of forward contracts in the real estate market: an empirical test. Journal of Financial Management of Property and Construction, 8(03), 129–38.

Dowse, G (2003) Qualitative residential market forecasts: the Auckland experience. Journal of Financial Management of Property and Construction, 8(03), 193–201.

Hui, E C M and Yiu, C Y (2003) Market dynamics of private residential real estate price - an empirical test in Hong Kong. Journal of Financial Management of Property and Construction, 8(03), 155–66.

Newell, G and Karantonis, A (2003) The predictive accuracy of investor sentiment for commercial property in Australia. Journal of Financial Management of Property and Construction, 8(03), 117–28.

Parker, D, MacFarlane, J, Peng, V and Murray, J (2003) Forecasting property market cycles: An application of the RICS model to the Sydney CBD office market. Journal of Financial Management of Property and Construction, 8(03), 178–92.

Pornchokchai, S and Perera, R (2003) Housing market in Bangkok after the financial crisis of 1997: lessons learned from the perspective of housing developers. Journal of Financial Management of Property and Construction, 8(03), 167–78.

  • Type: Journal Article
  • Keywords: financial crisis; housing market; housing developers; Bangkok Metropolitan Region
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    A Unique feature of the housing development in Bangkok Metropolitan Region (BMR) is that it has predominantly been led by the private sector. More over, nearly 70% of the overall real estate developments in Thailand are located in the BMR. Therefore, when the Asian financial crisis hit Thailand in 1997 its impact on the housing market was most felt by the developers that were operating in the BMR. This paper presents the experience of nearly 200 housing developers in the aftermath of financial crisis and the lessons that they learned during the crisis period. The research reveals the lack of adequate attention to market research and unavailability of a reliable market indicator as major drawbacks of the industry that made the developers vulnerable to the financial crisis. It also finds broadening of knowledge on finance and marketing as more crucial for the development of a resilience against such crises in future instead of developing construction skills.