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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.

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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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Lifestyle

Bangkok falls 19 places to 49th most expensive location worldwide

Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.

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The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.

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Property

Is There a Silver lining amid COVID-19?

Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.

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A direct result of COVID-19 containment measures is that organisations are taking a real-time look at the effects of prolonged off-site work and its relation to productivity.

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