Consumer confidence rather than mortgage rejections is the biggest obstacle for the residential market, as more homebuyers have cancelled their purchases despite securing financing, according to SET-listed Sena Development.
Managing director Kessara Thanyalakpark said so-called "self-rejection" now accounts for around 50% of all failed property transfers, overtaking bank loan rejections, which represent 40%, while conventional buyer cancellations make up the remaining 10%.
