"Concern over amendments to the Foreign Business Act and new capital controls have caused the Pattaya property market to decline for the first time in a decade, said a Pattaya developer.
Paisan Bundityanond, managing director of Rabbit Resort . . .said many foreign investors and buyers were utterly confused by changes to the laws and their impact on the property business. ''The changes reduce their confidence,'' he said. ''They don't comprehend the changes made to the Thai laws, which are now not very clear, unlike the laws in their countries.'' . .
According to AREA's survey, a total of 66,510 units were launched last year worth a combined 206 billion baht. About 94%, or 62,584 units worth 174.11 billion baht were residential units.
Of the total residential units, about 44% or 27,342 units were condominiums, 27% or 16,953 were townhouses and 21% or 13,062 units single houses.
In December, the number of newly launched units totalled 4,751 units worth 22.42 billion baht, down by 34% and 19% respectively from November 2006.
http://www.bangkokpost.net/Business/17Jan2007_biz48.php
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Pattaya RE Sales decline
Started by Birch, Jan 17 2007 09:51 AM
1 reply to this topic
#2 Guest_lub law_*
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Posted 18 January 2007 - 06:36 AM
So good now its going to be the law of the jungle sick and the weak die, so we can snap up all the good deals soon.
I just see the V6 Condos on the Gay Beach dropping like a Stone, soon we can buy up velly Cheap velly good in 2 years when Thailand stabilize again. may be buy then.
Only rent now doesn’t buy if I was you. Many guys loose them shirt buying at Silly price before now I think.
I just see the V6 Condos on the Gay Beach dropping like a Stone, soon we can buy up velly Cheap velly good in 2 years when Thailand stabilize again. may be buy then.
Only rent now doesn’t buy if I was you. Many guys loose them shirt buying at Silly price before now I think.
