"Peeraphong Jarunek" CEO of Origin Property has been appointed as the new President of the Thai Condominium Association for the term 2022-2023. He is set to tackle the mission of revitalizing the condominium market and supporting medium and small developers to grow together. He believes that the real estate market will bounce back after the Bank of Thailand eased LTV regulations, allowing for the purchase of second and third homes, which will stimulate real demand and attract investors. He anticipates a full reopening of the country soon, hoping to help revive tourism and boost domestic income, thereby stimulating demand in the real estate market.

Mr. Peeraphong Jarunek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate development company, was elected by the Thai Condominium Association's committee to serve as the "President of the Thai Condominium Association" for the 2022-2023 term during the annual general meeting held on April 26, 2022, at the Arnoma Grand Hotel in Bangkok.

"As a comprehensive real estate developer that has grown from developing condominium projects, I am deeply honored to have been entrusted by the Thai Condominium Association's committee with this important position. I am eager to apply the knowledge, vision, and experience I have accumulated over the past 12 years to work with the association to help revitalize and drive the condominium market to grow further. I will also promote and support medium and small real estate developers to be prepared to face competition and grow together in all economic conditions," said Mr. Peeraphong.

The overall outlook for the Thai real estate market this year is expected to become vibrant again after the Bank of Thailand temporarily relaxed LTV measures, allowing those purchasing residences valued at no more than 10 million baht for second and third contracts to apply for 100% housing loans. This will encourage real demand consumers who buy for their own residence and investors to make purchasing decisions more easily. Additionally, the trend of a full reopening of the country soon will help revive the economy and domestic income, particularly in the Thai tourism industry, bringing it back to near-normal conditions. This is a positive sign for the real estate sector, which is expected to improve due to increased purchasing power.