PUBLISHED : 18 Mar 2024 at 06: 47 Tourists at Wat Phra That Doi Suthep, Chiang Mai. (File image: Narumon Kasemsuk) Residential need in Chiang Mai started slowing in the 2nd half of 2023 and has continued through the veryfirst 2 months of this year, mostly associated to diminishing acquiring power triggered by the financial downturn and greater interest rates. Soranand Sethi, president of the Chiang Mai Real Estate Association, stated the number of individuals looking for homes in Chiang Mai bymeansof home market Baania.com dropped from 53,336 in July last year to 39,817 last month. “Despite optimism surrounding Chiang Mai’s tourist healing, potential propertybuyers had lower getting power duetothefactthat of the financial downturn, high family financialobligation, increasing costs, reducing earnings and interest rat
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