Private Developers in the 1997 Housing Market Crisis in Bangkok

摘要

Over the past two decades, Bangkok has experienced a substantial increase in demand for housing. During the economic boom from 1986 to 1997, private developers In Bangkok produced more than 100,000 new units per year. Despite this high level of production, demand appeared insatiable and the lure of huge profits continued to draw more people into the industry. By the onset of the 1997 economic crisis, the ranks of private developers in Bangkok had swelled to approximately 1,980. In an effort to analyze the role of these developers in the production and collapse of the housing market bubble in 1997,183 developers were surveyed. This article presents the survey findings.