| |
|
•
|
| |
|
SEARCH • Select property type, sale or rent, location
|
|
| For Sale |
For Rent |
For Sale or Rent |
|
| |
| |
|
•
|
|
Selling or renting property in Thailand? Contact buyers direct
on th-property.com's Property Marketing Network.
No sales commission - only a small advertising fee.
|
| |
| |
|
•
|
|
|
| |
| |
|
| |
|
•
|
| Tips for successful advertising on th-property.com
|
|
•
|
| Checklist for safe property purchase in Thailand
|
| |
| |
|
Thailand property listing pages:
|
|
|
Thailand Property-related News and Articles
A collection of property-related news articles with particular significance for foreigners.
Phuket on slow road back
The property market in Phuket over the first five months of this year has recovered but not to the point of its pre-2009 levels, according to the latest study by Colliers International Thailand.
Managing director Patima Jeerapaet said the coastal market in Phuket was far more reliant on foreigners than the resorts of Pattaya and Hua Hin.
"Most wealthy Thais prefer having second homes in the resorts close to Bangkok due to the easier access, so the coastal areas of Phuket are more responsive to the global economic situation," he said.
Tweaking foreign ownership rules proposed
Modest adjustments to existing foreign property ownership legislation to improve inbound investment could help produce major benefits in real estate, construction, retail consumption, education, transport, schooling, and tourism, says a local property executive.
"We support the Joint Foreign Chambers of Commerce in Thailand, which raised the issue of foreign ownership and sought to improve inbound real estate investment into Thailand," said David Simister, chairman of the property agency CB Richard Ellis Thailand.
Typically, foreign buyers represent approximately 20% of the Bangkok condominium market while in areas such as Pattaya, market demand is 80% foreign versus 20% domestic.
Land Values Soaring Along Transit Routes
Valuation prices for land on Bangkok's outskirts could rise by up to 50% as new mass-transit routes arrive, according to Winai Wittawatkaravet, the director-general of the Treasury Department.
Demand from property developers for key plots along new light rail routes will be the main driver for higher valuations, judging from past price trends from the influence of the BTS Skytrain and the BMTA subway.
Official valuation prices are used in calculating property taxes and serve as an important benchmark for transactions in the market. Valuations are adjusted every four years,
Rebound in Phuket real estate market
Property sales rebounded in Phuket in the first quarter, signalling a recovery in the market, says CB Richard Ellis Thailand.
Chairman David Simister said the island province remains the pinnacle destination for second-home purchases in Southeast Asia, with the villa market topping the charts in terms of high-end developments and prices.
Neighbouring countries do not have the same international desirability as Phuket. The Vietnamese market has many new projects but attracts only domestic buyers. Bali, Phuket's main competitor, does not attract the same number of tourists or high-income property buyers.
Crackdown on Foreign Nominee Land Sales
The Excise Department will strictly inspect land transactions in highly popular tourist destinations in the South where tax evasion is said to be widespread.
According to a senior official, property sales in Krabi, Koh Samui and Phuket have mushroomed in recent years, skyrocketing land prices in some areas 100-fold from a decade ago.
This is mainly because property developers are attempting to accumulate land banks to develop hotels, resorts and residential projects to serve high demand from foreigners, who use Thai nominees, the source said. Foreign nationals are not allowed to own land in Thailand.
Private sector to stop offering bribes
Twenty-one private organisations have formed a network to fight against the corruption which now plagues the country more seriously than ever before, Dusit Nontanakorn, chairman of the Thai Chamber of Commerce, said on Thursday.
Mr Dusit said business operators have to pay under-the-table kickbacks to people in power amounting to as much as 50 per cent of the cost of a project if they want to win a contract. This compares to the 2 or 3 per cent demanded 20 or 30 years ago.
Khao Takiab condo prices skyrocket
Khao Takiab saw the largest increase in condominium prices in the Hua Hin market, at 15.6% in the first quarter of this year, while south Hua Hin recorded the highest condominium prices at more than 130,000 baht per square metre.
The scarcity of beachfront land in the resort town drove up the prices of beachfront condominiums in the area in the range of 6.3% to 15.6% compared to the first quarter of 2010, according to the property agency Knight Frank Thailand.
Risinee Sarikaputra, associate director for research and consultancy, said the highest selling prices were in south Hua Hin, averaging 130,050 baht per sq m, while the lowest price was in Cha-am, at 90,593 baht.
Condo developers head out of Hua Hin
A lack of good beachfront land in Hua Hin is driving condominium development south to Pranburi and north to Cha-am.
Risinee Sarikaputra, associate director for research and consultancy of property consultant Knight Frank Thailand, said the next surge in development would probably take place in Khao Takiab, Cha-am and Pranburi.
Most future projects would be located in inland areas.
Delay in proposed land tax allows review
The delay in passing the draft Land and Building Tax Act will allow a thorough review of its content before implementation, say real estate experts.
"The draft will affect other laws and regulations such as transfer fee structures. The government may compare it with neighbouring countries' land tax laws," said Issara Boonyoung, president of the Housing Business Association.
The draft will also affect the land allocation law. The draft states public utilities in a housing project will become private assets, which will be taxed. Public utilities, which can account for 35-40% of a project's total area, will become a burden for homeowners if the project is taxed.
Thailand's 20-year-old Condominium Act is obsolete
Thailand's 1991 Condominium Act is counterproductive to the wants and needs of the country's property market.
With economies and property markets booming across Asia, many question why foreign demand for Thai properties has yet to return. During the pre-crisis period before 2008, foreign purchasers accounted for up to 35 per cent of the demand for condominiums in Bangkok's Central Business District. That figure included foreign purchasers from overseas, foreigners working in Thailand and permanent residents.
Today, foreign demand is below 20 per cent. The obvious reasons for this include the weak recovery of the US and European economies, the strength of the Thai baht and a negative foreign view of Thai politics. Another factor that has always limited interest in the Thai condominium market is the lack of mortgage facilities from local banks for foreign purchasers.
Sea front properties in Phuket perform best
Luxury properties with a sea frontage on the Thai island of Phuket were the best performing properties, according to the latest real estate market overview.
Increasing demand for luxury properties in Thailand
Demand for luxury real estate in popular far east tourist destinations such as Phuket and Koh Samui is increasing and experts are upbeat on the medium and long term outlook for the region.
Property firms are reporting a recovery of purchasing power affecting the luxury residential markets in Bangkok as well as resort destinations and projects that were on hold are now moving forward.
Thailand Property Tax Reforms
For more than a decade now, there has been talk of reforming Thailand’s property tax laws.
With the current government proposing to move forward with the introduction of a new property tax law, it is now time once again to consider what the reforms could hold in store for property owners in Thailand.
The existing tax system
There are currently two types of property tax imposed on owners of real estate in Thailand.
One is the House and Land Tax imposed on buildings and other structures and the land used in connection therewith. Generally speaking, the owner of a building that is used for commercial purposes is responsible for paying house and land tax every year at the rate of 12.5% of the annual rental value of the property. If the property is rented out, the rental received shall be the tax base for paying tax. If the property is not rented out, a deemed rental amount shall be used to collect the tax.
If land is not subject to the house and land tax it may be subject to local development tax.
|
|
