Real Estate
General facts about Property law and real estate legal matters for foreigners in Thailand
Oversupply Thai Condos
Condo projects facing oversupply
Source: The Nation February 14, 2008
Condo projects facing oversupply
City condominium developers may delay construction of their projects launched last year, say property experts.
The developers are facing an estimated supply of up to 50,000 condominium units in greater Bangkok and a 20-per-cent increase in construction-material costs.
Customers who bought units worth Bt30,000 per square metre or less last year could lose their down payments, because the developers cannot continue with the high construction costs.
Property Sales in Problems
Sales in Pattaya, Phuket also slow
Property Thailand: Sales Pattaya, Phuket and Koh Samui drop. Samui market in dire straits
Bangkok Post April 12 2007
KANANA KATHARANGSIPORN: The property market on Koh Samui is facing so many problems that some developers may dump their projects and offer them wholesale in overseas markets, while sales in Phuket and Pattaya have slowed due to capital controls and changes to the Foreign Business Act. Wasant Kongchan, deputy managing director of the property consulting firm Agency for Real Estate Affairs (AREA), said property sales and investments in the three tourist destinations slowed in the first quarter as foreign buyers were concerned about changes to Thai law.
Samui Landslides and Flooding
Solution to Samui flooding discussed
Source: Samui Express March 23 2007
SURATTHANI deputy governor Vinyu Thongsakul said that deforestation is the main cause of flooding on Koh Samui. He said this after a meeting of provincial and municipality officials to solve flooding in some areas of the island.
The meeting concluded that the solution for floods is prevention of forest denudation, especially where the water sources are located. The Forest Department had surveyed the mountain and forest areas on the island before declaring 23,546 rai or 9,418.4 acres of mountain land as protected forest zone. This means that no forest encroachment or land issuance of title deeds for both possession and ownership rights are allowed. The Land Department is specifically delegated to issue land title deeds according to rules to prevent more land scandals, which had happened before.
The Peak Land Papers Revoked
The Peak property project 'land plot papers to be revoked'
Source: Bangkok Post April 5 2007
KOH SAMUI / THE PEAK PROPERTY PROJECT
Land plot papers to be revoked
The Land Department will revoke land papers issued for six plots of land on the tourist island of Koh Samui , a senior land official said yesterday. Department deputy chief Vichai Praisa-ngob said an investigation had concluded the Nor Sor 3 Kor title deeds for the land had been illegally issued. False Sor Kor 1 land occupation papers were used to apply for Nor Sor 3 Kor papers.
Samui Nominee Shareholder Investigations
DSI to be decisive about nominees
Source: Samui Community March 15 2007
The Department of Special Investigation is continuing with its investigations into ‘Five Samui Nominee' who illegally registered hundreds of companies for foreigners to trade with and buy land on Koh Samui. The DSI Secretary-General Mr. Sunai Manomai-udom, vowed to take back all land in forest and mountain areas that was illegally occupied by foreigners. However, he also said that each case would be dealt with using prudence to prevent further adverse affects on investments.
The private sector hopes to find resolutions to deal with current questions on foreign ownership on Samui, as many foreign investors have already been put off buying real estate on the island. Many believe that a clear legal framework should be established by the government, with long term lease periods of 30-50 years offering the most obvious alternative to outright possession.
