Chart, land transactions : fall in june (and chart per quarter in constant THB)

Is something going on ?

The total amount of land transactions (nationwide) fell 41 % in june, compared to june 2007, at 32,69 billions THB versus 56,28 billions.

(source Bank Of Thailand, table EC_EI_009)

We have to go back to january 2004 to find a lower figure (27 billions).

So, accident or… uncoupling ? Datas for july will be published end of september. it’s going to be important to follow.

Now… speaking about land transactions, let’s increase the time scale and add another factor for fun : constant THB

(Reminder : constant THB = current THB minus inflation [the CPI ]. One THB in 2008 has of course lost value [18 %] compared to one THB in 2002.)

The pattern appears : we are going down in real terms.

Right now, we are on a plateau. But if Q3 is as bad as june… then the pace would accelerate on Q3 and Q4 2008 (because we have higher inflation and we would also have a decline in current terms).

Cisor effect.

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