Archive for January, 2009

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Soi Thonglor defies economic gloom

Soi Thonglor defies economic gloom
Surrounding the two-kilometre stretch of Soi Thonglor (Sukhumvit 55), between Sukhumvit and Phetchaburi roads, no fewer than seven luxury condominiums with a combined market value of about Bt20 billion are climbing toward their place in the city's skyline. Full story

New taxes would help reduce inequality

New taxes would help reduce inequality
Prime Minister Abhisit Vejjajiva recently made a pledge to push forward the controversial land and inheritance tax legislation for passage in the House. The plan is bold indeed. Previous governments had planned to move ahead with the land and inheritance tax bill but they never managed to make it materialise. Full story

Property tax would take 2 years

Property tax would take 2 years
It will take at least two years to implement a new property tax once the government introduces legislation for it, says a Treasury Department official. Full story

Thai homebuilder LH sees weak demand, no sales growth

Thai homebuilder LH sees weak demand, no sales growth
Land and Houses, Thailand's biggest home builder, expects no revenue growth in 2009 for the first time in more than a decade, due mainly to weak consumer confidence in an economic slowdown, a senior executive said. Full story

Resort markets under pressure

Resort markets under pressure
Thailand's resort markets are under severe pressure right now, with foreign buyers who have been negatively affected by the exchange rates opting to walk away from the deposits, says Phil Alexander, president of Martello Realty. Full story

Rental market solid

Rental market solid
Plus Property Co, a subsidiary of the listed developer Sansiri Plc, still sees a positive trend in the apartment rental market with rising occupancy rates, especially in the high-demand Sukhumvit area, says Anukul Ratpitaksanti, deputy managing director for asset management. Full story

Measures unlikely to give quick boost

Measures unlikely to give quick boost
The government's property tax measures launched this week are unlikely to be strong enough to encourage consumers to start spending again on home purchases, at least in the short term, real-estate associations said at a "Property market outlook 2009" seminar yesterday. Full story

Green light for luxury projects despite gloom

Green light for luxury projects despite gloom
A number of Thai property developers have such confidence in continued upper-income demand for luxury homes that they are planning to launch big-budget residential projects catering to the higher end of the market. Full story

Areeya plans to launch projects worth over B4bn

Areeya plans to launch projects worth over B4bn
The listed developer Areeya Property Plc plans to launch low-rise and high-rise projects worth over four billion baht on its existing land plots this year, according to executive chairman Wisit Laohapoonrungsee. Full story

Reductions in Phuket property prices

Reductions in Phuket property prices
If you have ever considered investing in property in Phuket, now could be the best time to buy. Full story
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