Privately-run residential and commercial construction projects have contracted by 8 percent in Q2 compared with data from the previous quarter, according to a survey conducted by the National Statistical Office of Thailand.
Director-General of the National Statistical Office Wibunthat Suthanthanakit said the survey indicated that most of the construction projects in the first quarter of 2015 were for residential purposes, followed by those for commercial purposes like offices and industrial factories.
The data collected includes newly-built buildings, as well as those undergoing alterations and additions.
It will be used by the government to analyse the real estate situation and trends in Thailand for the policy making purpose. The private sector also uses the data to determine housing indicators for investment and expansion plans in the property and real estate industry.
