KBank Private Banking, Kasikornbank’s wealth management arm, has advised affluent Thai investors to focus on alternative assets as the global economy enters a recession.

KBank Private Banking (KPB) has highlighted three major trends in the real estate market for the the “new normal” era. KPB says the government’s policy not to extend the land and building tax cut in 2022 will likely prompt high net worth individuals to convert their land holdings into collateral and investment funds to chase higher returns. KPB has targeted a new Land Loan for Investment of up to Bt10-15 billion this year.