The director of the Phuket Land Office in Thailand has implored local people not to sell their land to non-islanders. According to local media reports, director Paitoon Lertkrai made his comments outside a Ministry of the Interior seminar at the Royal Phuket City Hotel at the end of December. ”I…Continue reading
Residential property prices in Thailand have weathered the civil unrest in April and May in Bangkok which slowed the launch of new projects but did not cause panic selling, according to analysts. The latest report on the Thai real estate markets shows that development resumed quickly in Bangkok. The Bangkok…Continue reading
Last week we covered the ownership of property by foreigners in Thailand and some of the pitfalls and possibilities. This gives rise to the question of how foreigners can actually finance the purchase of a property here. Currently foreign ownership of property in Thailand is restricted to strata title leasehold…Continue reading
Pattaya’s real estate and tourism markets will grow by 5% and 10%, respectively this year, regardless of the political situation, says Jugkarut Ruangratanakorn, vice-president of Ratanakorn Asset Co Ltd, a property firm in the seaside resort city. The Pattaya real estate market slowed last year and will remain sluggish in…Continue reading
The listed developer Raimon Land will continue building luxury condominiums but with a new focus on larger projects and Thai buyers, a shift from its previous focus on foreigners, says chief executive Hubert Viriot. The previously troubled company has almost completed a financial restructuring, resolved its “internal issues” and is…Continue reading
Heightened demand is likely to follow last year’s slowdown which saw the addition of only around 10,000 new units in the capital. As many property developers have cautiously reduced project launches this year, the pace of new developments is likely to pick up in the new year because they now…Continue reading
The Israeli real estate company Industrial Buildings Corporation Ltd (IBC) is optimistic the Thai property market will fully recover by the end of next year, says chief executive Dalit Braun. Market sentiment has improved since early this year when the company and its Thai partner, Pace Development, formed a joint…Continue reading
The Thai property market will likely fluctuate until 2013, and the current oversupply will not be absorbed even then because new project launches will keep pace with fresh demand. So today’s overbuilt stock will not be completely reduced, says Jens Brochner Nielsen, CEO of D2 Real Estate Company. He also…Continue reading
Foreign firms using Thai nominees to hold property should restructure their holdings and seek Thai partners to legalise their investments, said Patima Jeerapaet, chairman of the property committee of the Joint Foreign Chambers of Commerce in Thailand (JFCCT). The Thai partner should be a “real investor” that will withstand scrutiny…Continue reading
Fractional ownership of property may not appeal to Thai buyers, due to their unfamiliarity with the concept and the lack of regulation, experts say. Fractional ownership is common in other countries where property is priced too highly for buyers to own an entire unit, said Phanom Kanjanathiemthao, managing director of…Continue reading