Hundreds of Phuket hotels operate with no licences Hundreds of hotels in Phuket are operating without licences, claiming the cost of getting one is far too high. Officials have set up a working group to close the unlicensed establishments, deputy governor Niwit Arunrat said yesterday. Government figures show that Phuket has 702 hotels with 42,684 […]
Continue ReadingAlternative ownership gaining momentum Alternative ownership of property has gradually gained popularity in Asia-Pacific, where more hotel owners and real estate developers seek new revenue streams, according to Bryan Lunt, chairman and CEO of Absolute World Group, which pioneered the fractional real estate in Phuket. The interest in alternative ownership – vacation or fractional ownership and […]
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Citizens rally against impact of high-rise developments Residents whose quality of life is threatened by new property developments should remain vigilant and band together to protect their rights, and a public sector organisation should be established to assist them, say consumer activists. Itthaboon Onwongsa, head of the consumer rights protection centre at the Foundation for […]
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Construction of new Phuket incinerator underway Work to build Phuket’s second incinerator at Saphan Hin is underway and the 940-million-baht facility should be completed by the end of the year, a provincial committee on trash management issues was told on Wednesday. Prachoom Suriya, who heads the Phuket City Municipality Environmental Division, told the Phuket Provincial […]
Continue ReadingFinancing property ownership in Thailand Last week we covered the ownership of property by foreigners in Thailand and some of the pitfalls and possibilities. This gives rise to the question of how foreigners can actually finance the purchase of a property here. Currently foreign ownership of property in Thailand is restricted to strata title leasehold […]
Continue ReadingCargo Train Derails in southern Thailand Train services in southern Thailand were temporarily suspended Saturday after a cargo train derailed near a station in Khao Chaison district of Phatthalung province, railway officials said. State Railway of Thailand (SRT) officials said the incident occurred before noon after a cargo train travelling from Bangkok’s Bang Sue railway […]
Continue ReadingBMA readies for imminent flooding The Bangkok Metropolitan Administration (BMA) has prepared 4 million sandbags to build flood barriers along the Chao Phya River, to stop the massive inflows of seawater expected between September 9 and 15 from flooding the capital.
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Continue ReadingMalaysia ranked as best place to retire in South East Asia Malaysia is the best place in South East Asia to retire, according to an annual survey published this week. The International Living magazine’s ‘Best Place in the World to Retire’ report ranks Malaysia as the top country in the region, and ranks it 19th […]
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THAILAND – PROPERTY Thailand’s MBK offering condo financing for foreigners Thai institutional group MBK PLC is now offering financing to foreigners on freehold condominiums through its subsidiary MBK Guarantee Ltd. This appears to be an extremely notable development in Thailand, where previously financing was nearly impossible to obtain for foreigners. Loans from THB2 million to […]
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