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Phuket firm charged with encroachment on Yao Yai Island

The state prosecutor’s office has charged the owner of a Phuket company with conspiracy to encroach on state land on Yao Yai Island in Phang Nga Bay, the ‘Phuket Gazette’ has reported.

Daniel Lorenzzo

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The state prosecutor’s office has charged the owner of a Phuket company with conspiracy to encroach on state land on Yao Yai Island in Phang Nga Bay, the ‘Phuket Gazette’ has reported.

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Phuket firm charged with encroachment

Thailand Investment

Although the current outlook for Thailand property has taken a knock and the current political situation needs to be followed closely by potential Thailand property investors, the country’s property market should not be overlooked.

Thailand is member of the ASEAN (Association of Southeast Asian Nations) trade bloc and has free trade agreements with India and China, two fast-developing economic powerhouses. Consequently, many multinational companies are using the country as a regional base for its operations or a place to station employees who travel around Asia. Foreign investment in Thailand is constantly expanding, supporting the strong economic growth of the country.

Compared to 1997 Real estate companies are able to respond much more quickly to changes

Factors that indicate the 2008 Thai real estate market is not experiencing a bubble- like boom include:
1. Property prices have not changed dramatically in most areas.
2. Interest rates are continuously rising In the overall housing market, speculation is not significant even though there is some speculation in condominium markets and tourist area properties.
3.Low consumer confidence because of unstable political and economic environments.
4. Global Financial Crisis discourages overall property speculation

Phuket firm charged with encroachment

Falling consumer confidence : The slowing global economy together with unstable local political and economic environments will result in falling consumer sentiment and confidence in Thailand. Consumers will delay home purchases because they will be unsure of current and future incomes – directly affecting real estate demand. The general public will also begin losing confidence in the financial sectors, although not as severely as in foreign countries. Lower construction costs : The slowing global economy will result in lower construction materials costs as global demand for these materials decreases. Investors and speculators become sellers : Although current investment and speculative demand is still low, it is prevalent in some condominium-markets and tourist- property categories.Speculators expect to generate profits from price appreciation. If prices do not appreciate as expected on Thai Real Estate Market, they become sellers.

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Real Estate

How COVID-19 is boosting digital twins in office buildings

The digital twin market — the phrase used to describe a virtual copy of a physical building, combining a 3-D model of a facility with the dynamic data needed to show visualizations and analysis — is growing at hyperspeed.

Daniel Lorenzzo

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The 65-story skyscraper at 311 South Wacker Drive in Chicago boasts magnificent views of the Chicago River, Grant Park and even Lake Michigan. However, for the owners, visibility of the building’s inner workings was more important, and more difficult to access.

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Real Estate

Covid-19 puts flexible space markets under strain

Long-term future of flexible space remains bright says JLL, but the global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space.

Daniel Lorenzzo

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Despite varied market conditions and end-user demand across the region, the Covid-19 outbreak has put some operators under financial strain

The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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Real Estate

Thai Cabinet slashes 2020 property tax by 90%

The Cabinet today approved a 90 percent reduction in the Land and Building Tax this year to help the general public cope with economic disruption from COVID-19, and prevent potential issues with land and building taxation in the future.

National News Bureau of Thailand

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BANGKOK(NNT) – The Cabinet has approved a reduction in Land and Building Tax this year of 90 percent to help ease economic disruption from the COVID-19 pandemic.

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