Precious time races by and on the face of it little, if nothing, seems to change regarding the reticence of the Thai government in relation to seriously stimulating the property sector – or has it? The Transfer Fee has indeed been slashed to 0.01 per cent while sales of condominiums are increasing at a quite alarming rate – along too, with their respective prices per square metre. Moreover, the heralding of government rhetoric of leases being increased from 30 years is also prevalent. Nevertheless, in order for the law to be passed, this thorny predicament has to survive 3 readings in parliament…Hmmm…we’ll see. But something needs to be done, and soon.
Vietnam and Malaysia have been peering over Thailand’s inimitably tall shoulders for some time now, ever ready to pounce. They want Thailand’s crown; it’s seemingly ubiquitous and eternal magic. However, all is not lost. The Kingdom of Thailand is not yet ready to give up her glorious crown. Those Thais in the echelons of power are, it seems, making more positive noises. With government steps also now being put in place to protect condominium buyers in relation to getting what they originally paid for in light of surreptitious condo marketing campaigns, it’s all beginning to look better and better. Therefore, instead of condominium buyers previously not getting ‘exactly what it says on the tin’ – they will in fact be getting just that. Things could indeed finally be on the up and up for all involved in real estate in this most wonderful of countries.
The fundamentals are, slowly but surely, being put into place, piece by piece. As they say: patience usually has a habit of paying off. I think, finally, cautious optimism could be the order of the day.
For further information regarding real estate in Thailand contact,
Simon Pinnock
Office Manager
Siam Property
Saturday, June 28, 2008
Monday, June 23, 2008
Pacific Star diverts more foreign funds to Thailand
Asian real estate investment firm Pacific Star International plans to bring in as much as US $400 million in foreign funds to Thailand.
The company has four real estate projects already underway in the country, and is studying two to three new deals to be made within the year.
Daniel Ross, vice-president for business development, says foreigners have expressed increased interest in Thailand’s property market.
The company has four real estate projects already underway in the country, and is studying two to three new deals to be made within the year.
Daniel Ross, vice-president for business development, says foreigners have expressed increased interest in Thailand’s property market.
Sunday, June 15, 2008
Thailand is number one on the list for the sale of luxury property in South East Asia
Pattaya's White Sand Beach achieved sales of 14 units. White Sand Beach is currently one of the largest projects in Pattaya, with 303 high-rise waterfront condominium and 240 low-rise island lagoon condominium units covering an area of 24 acres that includes a Movenpick Hotel, along with proximity to the Ocean Marina Yacht Club, which adds to its popularity.
CB Richard Ellis' sales value during the exhibition represented growth of over 80% from the previous year, suggesting that the Thai property market is more resilient than others. One of the reasons for this is the competitive pricing of property in Thailand. Nationally, construction costs account for a larger portion of the property's overall cost; as a result, the difference between price and replacement cost is lower than in many other markets, making investment safer, even as the global property sector faces a period of uncertainty.
The Thai economy continues to grow in 2008 with the return of a democratically-elected government. The country's position as the world's largest rice exporter has shielded it from rising commodity prices, and tourism is flourishing, with international tourist arrivals in 2007 up 5% y-o-y.
CB Richard Ellis' sales value during the exhibition represented growth of over 80% from the previous year, suggesting that the Thai property market is more resilient than others. One of the reasons for this is the competitive pricing of property in Thailand. Nationally, construction costs account for a larger portion of the property's overall cost; as a result, the difference between price and replacement cost is lower than in many other markets, making investment safer, even as the global property sector faces a period of uncertainty.
The Thai economy continues to grow in 2008 with the return of a democratically-elected government. The country's position as the world's largest rice exporter has shielded it from rising commodity prices, and tourism is flourishing, with international tourist arrivals in 2007 up 5% y-o-y.
Sunday, June 1, 2008
Special Property for Sale in Phuket, Thailand
Private but not isolated, the versatility of this Phuket property opens itself for numerous possibilities ranging from a large family home, a bijou resort, wellness centre or a corporate hospitality venue. Situated on 3,765 m2 of land, (nearly 1 acre) the property consists of the main house with a detached master suite, 2 detached guest suites in addition to 2 guest villas.
Within 1km of Nai Harn Beach in the south of Phuket Island, it is located in Nai Harn Baan Bua, an exclusive, prestigious and very private estate in the valley of Nai Harn, Phuket.
Within 1km of Nai Harn Beach in the south of Phuket Island, it is located in Nai Harn Baan Bua, an exclusive, prestigious and very private estate in the valley of Nai Harn, Phuket.
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