20/02/2014
How can a foreigner really purchase Property in Thailand?
Purchasing property in Thailand is actually pretty straight forward.
However because it is not done the same way as it would be in their home countries some are very skeptical about the process.
The truth is foreigners are actually very protected provided they follow all the rules and have Thai companies set up properly by reputable lawyers. Here is an article from Ajarn.com that really explains foriegners buying condos, houses, and land.
http://bit.ly/1hxORlx
14/02/2014
14 Feb 2014 is Magha Puja day!
here
in Thailand it is strictly observed. There will be no legal sales of
alcohol and very few bars will open quietly under the radar. If anyone
is wondering what this day is about, check out the info i pulled from Wikipedia.
Māgha Pūjā day marks the four auspicious occasions, which happened
nine months after the Enlightenment of the Buddha at Veḷuvana Bamboo
Grove, near Rājagaha
in Northern India. On that occasion, as recorded in the commentary to
the Mahāsamayasutta, DN-Comm 20) four marvellous events occurred:
- 1,250 disciples came to see the Buddha that evening without being summoned.
- All of them were Arhantas, Enlightened Ones, and all were ordained by the Buddha himself.
- The Buddha gave those Arhantas the principles of Buddhism, called "The ovadhapatimokha". Those principles are: - To cease from all evil,- To do what is good,- To cleanse one's mind;
- It was the full-moon day.
The Buddha gave an important teaching to the assembled monks on that day 2,500 years ago called the 'Ovādapātimokha'[1] which laid down the principles of the Buddhist teachings. In Thailand, this teaching has been dubbed the 'Heart of Buddhism'.
Thailands Observance:
- In the evening of Magha full-moon day, each temple in Thailand holds a candlelight procession called a wian thian (wian meaning to circle around; thian
meaning candle). Holding flowers, incense and a lighted candle, the
monks and congregation members circumambulate clockwise three times
around the phra ubosot (ordination hall) - once for each of the Three Jewels – the Buddha, the Dharma, and the Sangha.
- tham bun: Making merit by going to temples for special observances and join in the other Buddhist activities.
- rap sin': Keeping the Five Precepts. Practise of
renunciation: Observe the Eight Precepts, practise of meditation and
mental discipline, stay in the temple, wearing white robes, for a number
of days.
16/10/2013
Thailands Moonsoon Season full speed ahead!
Heavy rains started pounding Thailand around 9PM local time last night and continued into the morning as Tropical Storm Nari made landfall in Vietnam.
Pattaya's New Improved Beach Rd
MCOT online news reports up to 80-90 mm of rain in some areas, here is the article.
BANGKOK, Oct 16 - Bangkok was hit by a drenching downpour
early this morning with rain averaging 80-90 millimetres, and Min Buri
as well as Khlong Sam Wa were also heavily hit with 90 millimetres of
rain, all part of the last performance of Typhoon Nari which brought
disruption and destruction across east Asia.
Some areas of the Thai capital were flooded this morning due to the slow
drainage of rainwater. The authorities have sped up drainage works to
lower the water level in Khlong San Saeb to create spare capacity for
draining water.
Now only a low pressure cell bringing abundant rain to a broad landscape
that needs no more, the remains of Typhoon Nari has lost its storm
power but now stretches across Thailand's northeast and east still more
rain.
Today and tomorrow more rain and isolated heavy rain is expected along
with winds over the Northeast and the East, not only at Mukdahan, Amnat
Charoen, and Ubon Ratchathani as earlier reported by the weather agency,
but moving west and south to Nakhon Ratchasima, Buri Ram, Surin, and Si
Sa Ket.
From today through Saturday, another rather strong high pressure weather
system from China will extend over upper Thailand leading to cool
weather with a 5-8 degree Celsius temperature drop and in the North and
the upper Northeast.
Typhoon Nari made its landfall at Da Nang, Vietnam and as it moved
across Vietnam, the Lao PDR and into Thailand, it was downgraded to
tropical storm, tropical depression and low pressure cell status. (MCOT
online news)
-- TNA 2013-10-16
16/10/2013
Despite the partial shut down of the U.S. government both branches of its embassy remain open.
This article according to this mornings "The Nation"
BANGKOK: -- The US Embassy in Bangkok on Tuesday announced that the embassy and the Consulate General in Chiang Mai
remain open to the public as the US government began its first partial
shutdown in 17 years after Congress failed to break a partisan deadlock
by a midnight deadline.
The embassy issued a statement in its facebook; U.S. Embassy Bangkok,
saying that all consular services, including visa processing, are also
open for public.
"The U.S. Embassy in Bangkok and Consulate General Chiang Mai
remain open to the public. As always, our priorities remain providing
safety, security, and service to U.S. citizens. We are open for all
consular services, including visa processing," read the statement.
23/09/2013
I saw this article in Pattaya Realestate Magazine and thought i would share it. An interesting look at Pattaya's changing housing market. Enjoy
Return of the house = a maturing market
My doctor in Bangkok is a cagey 70-year-old veteran. Whenever he
sees me, he’ll take a gander at my X-rays, or blood tests, or results
from whatever diagnostic gismo I’ve been examined with, then look me
right in the eye and ask: “How do you feel?”
This seemingly harmless and open-ended question usually draws every
bit of information he needs out of me. I ramble on, jumping from symptom
to symptom; occasionally offering my own diagnosis and opinion on
exactly why my 52-year-old body is betraying me. He doesn’t have to prod
or pry. We don’t have to play 20 questions. He gets all the information
he needs in one shot.
Brain-picking
I borrow his technique when I want to find out what’s going on in a particular property market. The other week I was in Pattaya
and paid a visit to my usual cadre of real estate rangers. Some hate to
see me walk in the door, because they know it’s brain-picking time.
But, most of them are relieved as it is a rare opportunity to tell
the truth with no spin, shine or exaggeration regarding the prevailing
property market on the Chonburi Coast. I am neither buyer nor a seller.
I am well-versed in how the real estate business in Thailand works,
so there’s no need to educate me. Most importantly, I am known for
keeping my promise of anonymity.
My opening question and invitation to confess is always the same:
“What’s selling?” I don’t want to hear about which developer has a new
project. I don’t care who lost their best sales person. Whether or not a
project has gotten EIA approval does not interest me. Just tell me what
kind of property you’ve sold lately and who you sold it to. It’s that
simple.
Useful anecdotes
Usually they respond to me the same way I do with my physician. I
learn what has sold, how much it sold for, who it was sold to and
naturally some useful anecdotes and opinions on the direction of the
market.
It has been nearly two years since I last conducted such a survey.
The recent results were eye-opening, but confirmed my sneaking suspicion
that things were changing in and around Fun City.
One longtime veteran in the Pattaya
property trenches put it very succinctly … “Sellin’ a lot of houses,
dude … a lot of houses”. I was overjoyed. I’ve been predicting this for a
long time. But, I guess if you predict something for long enough, it
will eventually happen.
What’s more, I wanted it to happen. In my decade and a half here in
Thailand, the most money I ever made coupled with the most creative
satisfaction was building and selling houses. It thrills the crap out of
me to see the trend arrive here in Bangkok Beach.
Out of 10 property jockeys I spoke with, two said nothing was
selling, two said they were flogging a whole bunch of 31 sqm people
boxes, and the other six all expressed a surprised elation at selling
single family dwellings … mostly in East Pattaya.
I discarded the first two as lazy remoras and the second two as
“captive shops” with their signage and marketing material paid for by
the ruling oligarchy of high-rise developers.
Not surprisingly, the six agents who said they were selling houses
are some of the oldest and most established firms in the area. In fact,
more than half of them make their bread and butter serving the corporate
relocation and working expatriate market. I keep telling people Pattaya is a real city and here is more proof!
But why are houses suddenly in vogue? And who is buying them? Enquiring minds want to know!
I believe the answer to these questions comes in three parts. Houses have changed, buyers have changed, and Pattaya has changed.
Pt1 Houses have changed
Last year while researching housing developments in East Pattaya and
also the far southern end, I learned a lot about how the design, style
and construction quality of houses has morphed in and around the city.
(See the Tales of the Darkside series and Goin’ South series archived on
our website at www.remthai.com) It appears to me there have been three
distinct stages of development over the past 15 years or so.
Keep in mind, I’m not talking about “one off” houses where someone
has secured some land and built their own single house. I’m referring to
proper housing developments. The original development style was focused
on two axioms: 1) build them all the same; 2) build as many as you can
on the land you have. The houses themselves were a hybrid design of Thai
sensibility and mimicry of what they thought a foreigner’s house was
like. Most were built in the ubiquitous “Thai-Bali” style … or what they
thought we thought Thai-Bali looked like.
Outdoor kitchens, maid rooms and those hideous little ceramic columns
surrounding tiny outdoor verandas are dead giveaways of housing
produced during this era. Semi-spacious farang-style living rooms were
prone to having a single electrical outlet with the wires running
through a plastic conduit on the outside of the wall.
No space
There was no space between the houses whatsoever. Where I come from
we call these “zero lot-line” houses. If you had a 200 sqm lot; 180 sqm
was covered in concrete. Grandiose and ornate entry ways to these
developments with imposing security guard shacks were erected first,
usually to be torn down later and replaced with shop-houses.
Once most of the project was sold, the developer usually just went on
to the next cookie-cutter project to repeat their atrocities. Little or
no management was left in place to control or maintain common areas
like the streets, clubhouses or communal swimming pools that might have
existed.
The design was rudimentary. The quality was sub-standard. The
management was non-existent. And, some of those developers are operating
in the same manner to this day. Their only saving grace is that they
didn’t cost very much.
Then in the late ’90s and early ’00s, a housing renaissance occurred.
What I would describe as “American-style” gated communities emerged.
Well-lit wide streets, big lots, private swimming pools and a variety of
designs.
Unfortunately, many of these were mere façades, like fake Gucci bags.
Most of them looked the part with fabulous entrances and almost
military security structures. But, alas, the quality was all over the
place.
One development in particular comes to mind. (Since I’m going to put
it down, I decline to name names). The entrance to this famous East
Pattaya estate is one of the most breathtaking I’ve ever seen, complete
with modern sculptures and manicured landscape. The houses sit on huge
lots, but are only slightly better quality than those built 10 years
before.
Plagued with bad design, poor material and shoddy workmanship; it’s like
wearing a $1,000 suit going to a five star restaurant and ordering a
hamburger. “What’s the matter hoss? Spend all your money on the suit?”
Still others sported the fancy storefront and, for the most part, lived up to it. Phu Tara and Siam Royal View
in East Pattaya come to mind. Whoever designed these estates understood
the concept of luxury gated community living and followed through with
some pretty well turned out abodes.The problem here is they kind of
over-did it. The “build it and they will come” philosophy backfired.
Some of these kinds of homes sit empty or the plots remain available
because they are just too expensive. The market for houses in that
prices range is yet to mature.
In the past few years up to the present, we have seen a second
renaissance I’d call the modern age of practicality. Today’s Pattaya
home builder has employed some reverse-engineering. Houses are geared
towards what the buying public want, not some grand vision of the
developer.
Smart houses
Ornate ridiculous entrances and unused theme park-like common areas
have been replaced with value-added features for each house. LED
lighting, solar-powered water heaters, salt water swimming pools and
“smart” houses that are so wired-up you can cook dinner on your way home
with your iPhone.
Developments like Sedona, Whispering Palms and Greenfield Villas
mirror North American communities with their open plan houses and
flexible floor-plans. Professional management ensures the investment
buyers make isn’t degraded by their neighbours.
Forward thinking
designers like Silver Hills
in Bang Saray give buyers huge lots with a long list of “green”
features and “smart house” gadgetry. Now a “luxury gated community” is
just that and not a poor copy of a Rolex watch.
In my opinion, among the most shining examples of how far housing has come are the projects offered by BravoThai – The Vineyards Phase III and the recently unveiled Amaya Hill. The designs are modern, flexible and timeless. The execution is precise and completed with the highest quality materials.
The genius of these developments is in the planning. Instead of
creating homes and shoving them down the consumer’s throat, the folks at
BravoThai delineated specific markets and set out to satisfy them.
The Vineyards Phase III is
a small-ish development with only 21 units. It is an intimate project
with big plots. The houses are spacious open-plan affairs with plenty of
garden and swimming pool.
Minimalist styling allows owners to bend the décor to their will.
On-site amenities like a coffee shop, fitness centre, taxi/mini-bus
service, pool cleaning, house-sitting and maid services tell the tale of
exactly who these houses are targeting.
Priced at Bt13-20m, limited to a small close-knit community and chock
full of convenient amenities, it is quite obvious this place is aimed
at retirees.
Award recognition
Apparently BravoThai know what’s what as half the units have been
sold in less than one year. All phases of The Vineyards have been
recognised repeatedly at the Thailand Property Awards 2011 and 2012 and
Pacific Property Awards 2012 and 2013.
Amaya Hill
targets a different group. With 85 units planned, it is a much larger
project with smaller plots. Built on an elevated knoll near Lake
Mabprachan, Amaya Hill
enjoys great location, access to the motorway and views of Pattaya in
the distance. The houses mirror the design of The Vineyards with their
clean minimalist lines and practical layout.
According to Adam Coulson, sales executive for BravoThai, Amaya Hill
is geared more toward families. Floor-plans range from 128sqm to
240sqm. Lots can be combined and floor-plans rearranged.Prices run from
Bt7-15m. Adam described the homes at Amaya Hill as “affordable luxury”
and I must agree.
Once again the boys from BravoThai seem to have found the mark as
many of the units on the first phase are sold and they don’t even have a
showroom yet.
In the future I would expect any switched-on development company to
follow BravoThai’s lead. Terrence (Terry) Collins, MD of BravoThai, said
it best: “People don’t want a discount … they want a lot of house for
their money.”
It occurs to me that BravoThai have taken the developer’s ego out of
the equation and decided to “just give the people what they want”. This
is a very definitive shift in house builder philosophy.
Pt2 Buyers have changed
So, what has changed about the oh-so-elusive consumer? Are they the
same people who used to buy condos with a different mindset? Or, are
they a different group altogether? The answer is … a little of both.
Terry Collins again: “Consumer trust has flipped.” We discussed the
old condo developer fear tactics used in the past. “You can’t own it …
you can’t own it!” the condo mongers would say referring to houses;
playing on the fears of buyers that the only property legal for a
foreigner to own in Thailand was a (49 per cent) condo.
Now, not only have buyers become more educated and comfortable with
the various methods one might “own” a house, some are becoming
increasingly suspect of condominiums.
“People are afraid some of these condos aren’t going to get built,”
said one veteran agent. Indeed, construction delays, design changes and
rampant rumours of developer insolvency have some property buyers
looking at condos with a suspicious eye.
Of course it is only the very few condos that deserve to be viewed
with such suspicion but the “one bad apple” rule can still affect the
rest of the condo builders’ “barrel” in the perception of buyers.
“People want to feel in control,” said Terry Collins. “While the
buyer is waiting for a 40-storey high-rise to get built, he is at the
mercy of the developer. With a house, the owner can come to inspect
progress every day, and payment is based on pre-set benchmarks, not the
developers’ need for cash flow.”
Potential buyers
My personal experience has seen some changes in the characteristics
of potential buyers. Last December, my big three-bedroom condo in
Jomtien Beach was vacant and for rent. This place is 168 sqm and feels
like a house connected to the end of a condo. Many prospective renters
consider it instead of a house.
In three days I had three couples from three different countries
looking at it, but all for the same reason. Each and every one included a
male head of household that had recently been re-posted to an
industrial estate near Pattaya.
Two worked with companies forced out of Bangkok by the floods who
chose to relocate rather than rebuild. The other was with a
multi-national conglomerate that was planting their flag in advance of
the AEC inauguration in 2015. No punters, sex-patriots or fugitives …
just real people that needed real housing.
Overheated Asian economies have also changed the face of who is buying houses here.
More than one agent told the story of Singaporeans who can’t afford
to retire in their own country, choosing Thailand for its fresh air and
easy way of life. The same goes for Hong Kong Chinese that are falling
victim to mainland Nuevo-riche Chinese driving real estate prices to the
stratosphere.
Disgruntled North Americans and Europeans make up a hefty slice of
the house-buying pie. Rising inflation and taxes create new expatriates
every day.
Adam Coulson from BravoThai told me he’d had a flurry of French
buyers who are fed up with the exorbitant taxes and political turmoil of
their own country. I meet more of my own countrymen every month who
also weary of carrying an increasingly top-heavy government on their
back.
According to Adam, the off-shore worker making off-shore money no
longer feels the urge to repatriate their hard earned cash to their
native countries. He considers them the “perfect buyer”.
And, let’s remember that Thai people make up the lion’s share of real estate purchasers whether it is houses or condos.
“Thai people are using agents now,” said Adam. “We haven’t seen that
before.” Traditionally Thai buyers used word-of-mouth and personal
connections to lead them to a purchase.
Apparently they’ve gotten over the idea of paying a commission and
are learning about the higher quality and better design of some Pattaya
developers (even if they are farangs).
Pt3 Pattaya has changed
Now, I know it is taboo to say this, but the riots and floods of
recent years did Pattaya a favour by forcing Bangkok Thais down the road
to see how things had changed. Primary infrastructure like the motorway
and other roads make it easier to get here and get around. Secondary
infrastructure like schools, hospitals and major shopping venues create a
much more livable environment.
The new generation of Thais isn’t affected by Pattaya’s old stigma of
Thailand’s “brothel-by-the-sea” reputation. They see Pattaya for what
it is; a dynamic and vibrant resort town. It’s easy to get here,
bristling with all kinds of healthy recreation and quite a bargain
compared to other regional competitors.
Having a little condo for weekend getaways is nice. Owning a big house with a private garden and swimming pool is better.
So, this month I played doctor with the Pattaya property market by
making a house call and asking it: “How do you feel?” After hearing it
ramble on for a couple of days about changes in developments, changes in
consumers and changes in Pattaya, I came to the same conclusion my
grumpy old doctor always arrives at about me. “You’re okay,” he’ll say.
“You’re just getting older”
04/09/2013
Bamrung Amnatcharoenrit
The Nation
PATTAYA: -- Thailand's first tourist court will open tomorrow in the popular beach resort city of Pattaya as part of the government's move to reassure travellers of their safety while visiting the country.
From 4.30pm to 8.30pm, foreign tourists can come and lodge
complaints, especially over unfair services and personal security.
Consideration of cases will be cut to one day for uncomplicated disputes
from the usual six months, Wirat Chinwinigkul, secretary-general of the
Judiciary, said yesterday.
The specialised court will encourage negotiations between parties. Most
of the cases are about consumer protection, so it is easier to reach a
compromise. If it's a serious issue, the case will be transferred to the
regular court. There will be capable officials speaking foreign
languages to help.
Six more night courts are planned - Pathum Wan district for the Silom
area and Dusit district for khao san in Bangkok, Krabi, Samui, Chiang Mai and Phuket. Those tourist destinations have faced various problems, especially cheating by operators.
The Pattaya court would be a pilot project. It is expected to take up
speedboat services, which is one of the serious issues corroding the
country's tourism image. It's also related to criminal cases.
Yesterday, four parties - police, prosecutors, the courts of justice and
the Tourism Ministry - signed an agreement to set up the court and work
together to help take care of foreign holidaymakers.
The court will also be responsible for looking after Thai tourists and
scrutinising the role of tourism operators in providing fair services to
tourists.
The ministry should set up a department to handle cases because some
tourists have to go home before a ruling is handed down, he said.
In the future, Thailand should enact legislation to regulate the
industry, like in France, because tourism is an important industry
strengthening the national economy. It has grown rapidly, but existing
laws cannot keep up, he added.
Tourism Minister Somsak Pureesrisak said it's a good sign for the
country's tourism industry. The night court would help secure the
industry's role in the long term, especially in achieving the target of
Bt2 trillion in tourism revenue in 2015.
The ministry has made a big effort to standardise the industry,
launching measures and regulations to crack down on scams. Especially
Phuket needs a clean-up. The resort island is overrun by illegal services and gangsters.
-- The Nation 2013-09-04
23/08/2013
Thai baht continues to weaken against
western currencies
This
year the Thai Baht has seen a lot of movement. From dropping below the
29.00 level to now passing the 32.00 level it is sitting today at 32.12.
According to "The Nation"
This is short term however tourists now will be getting more bang for
their baht and will be able to spend more and for foreign investors this
is a great time to bring money into The Kingdom. Atricle from "The Nation" below.
Plunge in the baht 'a short-term issue'
Business Desk
The Nation
Economic fundamentals strong, currency may rise again: analysts
BANGKOK: -- Thai economists and financial authorities say the sharp
depreciation of the baht is likely to be a short-term phenomenon and
foresee stability returning when the economy picks up, as economic
fundamentals remain strong.
Commerce Minister Niwattumrong Boonsongpaisan said yesterday that the
government would not interfere with the Bank of Thailand's work in
stabilising exchange rates.
After a brainstorming session with the prime minister and Finance
Minister Kittiratt Na-Ranong, Niwattumrong said the heart of this issue
was to ensure stability and alignment with regional currencies. He said
it would take a month or two to see if the baht's decline would boost
Thai exports and whether the export target of 7-7.5 per cent would be
revised.
Two forces are speeding the depreciation of regional currencies: the
United States' plan to scale back its asset-buying or
quantitative-easing (QE) measure because of improving economic health;
and the worse-than-expected economic data within the region. Investors
are shifting money back to the US.
The baht passed 32 to the dollar yesterday, a level unseen since
September 2010, and economists say it could strengthen if the local
economy shows improvement in the second half.
Tak Bunnag, head of Bank of Ayudhya's treasury group, said foreign
investors had shifted investment out of Asia for some time. So if the
Federal Reserve really acts to taper its QE, the baht should not fall
much more, or it could even rise again.
In the year to date, the baht, at 32.12, has weakened by 4.8 per cent
against the US dollar. Thailand's current-account deficit in the first
half stood at 1.9 per cent.
Tak attributed part of the depreciation to the National Economic and
Social Development Board's downward revision in the economic forecast on
Monday. GDP figures roughly weigh 30 per cent when foreign investors
make a decision, he said. This year's growth estimate for Thai gross
domestic product was cut on Monday to 3.8-4.2 per cent after slowing in
the second quarter to 2.8 per cent.
Kampol Adireksombat, senior economist at Tisco Securities, said the baht had fallen beyond its fundamentals.
His view was that the Thai economy should improve in the second half. If
exports pick up, Thailand could show a balanced current account or even
a slight surplus. In a worst-case scenario, a deficit of less than 1
per cent of GDP was anticipated. In these scenarios, it was likely the
baht would strengthen against the dollar to around 31.5 later this year.
While urging the Bank of Thailand to restore exchange-rate stability via
use of foreign reserves of US$170 billion (Bt5.45 trillion) or so,
Kittiratt insisted yesterday that the economy remained strong. Even with
slowing growth in the second quarter, investment was on track and would
keep unemployment low.
To boost the economy in the second half, aside from pushing for the
disbursement of the state budget and 20 measures backed by the Cabinet
on August 6, the government would resort to no new measures, said Kittiratt.
"All the measures are not to boost the economy in the short term, but to
invest in what we should and what will create long-term value," he
said. All state agencies should also lend a hand in boosting consumer
and investor confidence.
He said that in the short term, the macroeconomic picture remained
satisfactory. The baht's depreciation was not worrying, in light of low
inflation, as that would cushion negative impacts on importers.
-- The Nation 2013-08-23
17/10/2012
here in Thailand it is strictly observed. There will be no legal sales of alcohol and very few bars will open quietly under the radar. If anyone is wondering what this day is about, check out the info i pulled from Wikipedia.
Māgha Pūjā day marks the four auspicious occasions, which happened nine months after the Enlightenment of the Buddha at Veḷuvana Bamboo Grove, near Rājagaha in Northern India. On that occasion, as recorded in the commentary to the Mahāsamayasutta, DN-Comm 20) four marvellous events occurred:
- 1,250 disciples came to see the Buddha that evening without being summoned.
- All of them were Arhantas, Enlightened Ones, and all were ordained by the Buddha himself.
- The Buddha gave those Arhantas the principles of Buddhism, called "The ovadhapatimokha". Those principles are: - To cease from all evil,- To do what is good,- To cleanse one's mind;
- It was the full-moon day.
Thailands Observance:
- In the evening of Magha full-moon day, each temple in Thailand holds a candlelight procession called a wian thian (wian meaning to circle around; thian meaning candle). Holding flowers, incense and a lighted candle, the monks and congregation members circumambulate clockwise three times around the phra ubosot (ordination hall) - once for each of the Three Jewels – the Buddha, the Dharma, and the Sangha.
- tham bun: Making merit by going to temples for special observances and join in the other Buddhist activities.
- rap sin': Keeping the Five Precepts. Practise of renunciation: Observe the Eight Precepts, practise of meditation and mental discipline, stay in the temple, wearing white robes, for a number of days.
16/10/2013
Thailands Moonsoon Season full speed ahead!
Heavy rains started pounding Thailand around 9PM local time last night and continued into the morning as Tropical Storm Nari made landfall in Vietnam.
Pattaya's New Improved Beach Rd
MCOT online news reports up to 80-90 mm of rain in some areas, here is the article.
BANGKOK, Oct 16 - Bangkok was hit by a drenching downpour
early this morning with rain averaging 80-90 millimetres, and Min Buri
as well as Khlong Sam Wa were also heavily hit with 90 millimetres of
rain, all part of the last performance of Typhoon Nari which brought
disruption and destruction across east Asia.
Some areas of the Thai capital were flooded this morning due to the slow
drainage of rainwater. The authorities have sped up drainage works to
lower the water level in Khlong San Saeb to create spare capacity for
draining water.
Now only a low pressure cell bringing abundant rain to a broad landscape
that needs no more, the remains of Typhoon Nari has lost its storm
power but now stretches across Thailand's northeast and east still more
rain.
Today and tomorrow more rain and isolated heavy rain is expected along
with winds over the Northeast and the East, not only at Mukdahan, Amnat
Charoen, and Ubon Ratchathani as earlier reported by the weather agency,
but moving west and south to Nakhon Ratchasima, Buri Ram, Surin, and Si
Sa Ket.
From today through Saturday, another rather strong high pressure weather
system from China will extend over upper Thailand leading to cool
weather with a 5-8 degree Celsius temperature drop and in the North and
the upper Northeast.
Typhoon Nari made its landfall at Da Nang, Vietnam and as it moved
across Vietnam, the Lao PDR and into Thailand, it was downgraded to
tropical storm, tropical depression and low pressure cell status. (MCOT
online news)
-- TNA 2013-10-16
16/10/2013
Despite the partial shut down of the U.S. government both branches of its embassy remain open.
This article according to this mornings "The Nation"
BANGKOK: -- The US Embassy in Bangkok on Tuesday announced that the embassy and the Consulate General in Chiang Mai
remain open to the public as the US government began its first partial
shutdown in 17 years after Congress failed to break a partisan deadlock
by a midnight deadline.
The embassy issued a statement in its facebook; U.S. Embassy Bangkok,
saying that all consular services, including visa processing, are also
open for public.
"The U.S. Embassy in Bangkok and Consulate General Chiang Mai
remain open to the public. As always, our priorities remain providing
safety, security, and service to U.S. citizens. We are open for all
consular services, including visa processing," read the statement.
23/09/2013
I saw this article in Pattaya Realestate Magazine and thought i would share it. An interesting look at Pattaya's changing housing market. Enjoy
Return of the house = a maturing market
My doctor in Bangkok is a cagey 70-year-old veteran. Whenever he sees me, he’ll take a gander at my X-rays, or blood tests, or results from whatever diagnostic gismo I’ve been examined with, then look me right in the eye and ask: “How do you feel?”This seemingly harmless and open-ended question usually draws every bit of information he needs out of me. I ramble on, jumping from symptom to symptom; occasionally offering my own diagnosis and opinion on exactly why my 52-year-old body is betraying me. He doesn’t have to prod or pry. We don’t have to play 20 questions. He gets all the information he needs in one shot.
Brain-picking
I borrow his technique when I want to find out what’s going on in a particular property market. The other week I was in Pattaya and paid a visit to my usual cadre of real estate rangers. Some hate to see me walk in the door, because they know it’s brain-picking time.
But, most of them are relieved as it is a rare opportunity to tell the truth with no spin, shine or exaggeration regarding the prevailing property market on the Chonburi Coast. I am neither buyer nor a seller.
I am well-versed in how the real estate business in Thailand works, so there’s no need to educate me. Most importantly, I am known for keeping my promise of anonymity.
My opening question and invitation to confess is always the same: “What’s selling?” I don’t want to hear about which developer has a new project. I don’t care who lost their best sales person. Whether or not a project has gotten EIA approval does not interest me. Just tell me what kind of property you’ve sold lately and who you sold it to. It’s that simple.
Useful anecdotes
Usually they respond to me the same way I do with my physician. I learn what has sold, how much it sold for, who it was sold to and naturally some useful anecdotes and opinions on the direction of the market.
It has been nearly two years since I last conducted such a survey. The recent results were eye-opening, but confirmed my sneaking suspicion that things were changing in and around Fun City.
One longtime veteran in the Pattaya property trenches put it very succinctly … “Sellin’ a lot of houses, dude … a lot of houses”. I was overjoyed. I’ve been predicting this for a long time. But, I guess if you predict something for long enough, it will eventually happen.
What’s more, I wanted it to happen. In my decade and a half here in Thailand, the most money I ever made coupled with the most creative satisfaction was building and selling houses. It thrills the crap out of me to see the trend arrive here in Bangkok Beach.
Out of 10 property jockeys I spoke with, two said nothing was selling, two said they were flogging a whole bunch of 31 sqm people boxes, and the other six all expressed a surprised elation at selling single family dwellings … mostly in East Pattaya.
I discarded the first two as lazy remoras and the second two as “captive shops” with their signage and marketing material paid for by the ruling oligarchy of high-rise developers.
Not surprisingly, the six agents who said they were selling houses are some of the oldest and most established firms in the area. In fact, more than half of them make their bread and butter serving the corporate relocation and working expatriate market. I keep telling people Pattaya is a real city and here is more proof!
But why are houses suddenly in vogue? And who is buying them? Enquiring minds want to know!
I believe the answer to these questions comes in three parts. Houses have changed, buyers have changed, and Pattaya has changed.
Pt1 Houses have changed
Last year while researching housing developments in East Pattaya and also the far southern end, I learned a lot about how the design, style and construction quality of houses has morphed in and around the city. (See the Tales of the Darkside series and Goin’ South series archived on our website at www.remthai.com) It appears to me there have been three distinct stages of development over the past 15 years or so.
Keep in mind, I’m not talking about “one off” houses where someone has secured some land and built their own single house. I’m referring to proper housing developments. The original development style was focused on two axioms: 1) build them all the same; 2) build as many as you can on the land you have. The houses themselves were a hybrid design of Thai sensibility and mimicry of what they thought a foreigner’s house was like. Most were built in the ubiquitous “Thai-Bali” style … or what they thought we thought Thai-Bali looked like.
Outdoor kitchens, maid rooms and those hideous little ceramic columns surrounding tiny outdoor verandas are dead giveaways of housing produced during this era. Semi-spacious farang-style living rooms were prone to having a single electrical outlet with the wires running through a plastic conduit on the outside of the wall.
No space
There was no space between the houses whatsoever. Where I come from we call these “zero lot-line” houses. If you had a 200 sqm lot; 180 sqm was covered in concrete. Grandiose and ornate entry ways to these developments with imposing security guard shacks were erected first, usually to be torn down later and replaced with shop-houses.
Once most of the project was sold, the developer usually just went on to the next cookie-cutter project to repeat their atrocities. Little or no management was left in place to control or maintain common areas like the streets, clubhouses or communal swimming pools that might have existed.
The design was rudimentary. The quality was sub-standard. The management was non-existent. And, some of those developers are operating in the same manner to this day. Their only saving grace is that they didn’t cost very much.
Then in the late ’90s and early ’00s, a housing renaissance occurred. What I would describe as “American-style” gated communities emerged. Well-lit wide streets, big lots, private swimming pools and a variety of designs.
Unfortunately, many of these were mere façades, like fake Gucci bags. Most of them looked the part with fabulous entrances and almost military security structures. But, alas, the quality was all over the place.
One development in particular comes to mind. (Since I’m going to put it down, I decline to name names). The entrance to this famous East Pattaya estate is one of the most breathtaking I’ve ever seen, complete with modern sculptures and manicured landscape. The houses sit on huge lots, but are only slightly better quality than those built 10 years before.
Plagued with bad design, poor material and shoddy workmanship; it’s like wearing a $1,000 suit going to a five star restaurant and ordering a hamburger. “What’s the matter hoss? Spend all your money on the suit?”
Still others sported the fancy storefront and, for the most part, lived up to it. Phu Tara and Siam Royal View in East Pattaya come to mind. Whoever designed these estates understood the concept of luxury gated community living and followed through with some pretty well turned out abodes.The problem here is they kind of over-did it. The “build it and they will come” philosophy backfired. Some of these kinds of homes sit empty or the plots remain available because they are just too expensive. The market for houses in that prices range is yet to mature.
In the past few years up to the present, we have seen a second renaissance I’d call the modern age of practicality. Today’s Pattaya home builder has employed some reverse-engineering. Houses are geared towards what the buying public want, not some grand vision of the developer.
Smart houses
Ornate ridiculous entrances and unused theme park-like common areas have been replaced with value-added features for each house. LED lighting, solar-powered water heaters, salt water swimming pools and “smart” houses that are so wired-up you can cook dinner on your way home with your iPhone.
Developments like Sedona, Whispering Palms and Greenfield Villas mirror North American communities with their open plan houses and flexible floor-plans. Professional management ensures the investment buyers make isn’t degraded by their neighbours.
Forward thinking designers like Silver Hills in Bang Saray give buyers huge lots with a long list of “green” features and “smart house” gadgetry. Now a “luxury gated community” is just that and not a poor copy of a Rolex watch.
In my opinion, among the most shining examples of how far housing has come are the projects offered by BravoThai – The Vineyards Phase III and the recently unveiled Amaya Hill. The designs are modern, flexible and timeless. The execution is precise and completed with the highest quality materials.
The genius of these developments is in the planning. Instead of creating homes and shoving them down the consumer’s throat, the folks at BravoThai delineated specific markets and set out to satisfy them.
The Vineyards Phase III is a small-ish development with only 21 units. It is an intimate project with big plots. The houses are spacious open-plan affairs with plenty of garden and swimming pool.
Minimalist styling allows owners to bend the décor to their will. On-site amenities like a coffee shop, fitness centre, taxi/mini-bus service, pool cleaning, house-sitting and maid services tell the tale of exactly who these houses are targeting.
Priced at Bt13-20m, limited to a small close-knit community and chock full of convenient amenities, it is quite obvious this place is aimed at retirees.
Award recognition
Apparently BravoThai know what’s what as half the units have been sold in less than one year. All phases of The Vineyards have been recognised repeatedly at the Thailand Property Awards 2011 and 2012 and Pacific Property Awards 2012 and 2013.
Amaya Hill targets a different group. With 85 units planned, it is a much larger project with smaller plots. Built on an elevated knoll near Lake Mabprachan, Amaya Hill enjoys great location, access to the motorway and views of Pattaya in the distance. The houses mirror the design of The Vineyards with their clean minimalist lines and practical layout.
According to Adam Coulson, sales executive for BravoThai, Amaya Hill is geared more toward families. Floor-plans range from 128sqm to 240sqm. Lots can be combined and floor-plans rearranged.Prices run from Bt7-15m. Adam described the homes at Amaya Hill as “affordable luxury” and I must agree.
Once again the boys from BravoThai seem to have found the mark as many of the units on the first phase are sold and they don’t even have a showroom yet.
In the future I would expect any switched-on development company to follow BravoThai’s lead. Terrence (Terry) Collins, MD of BravoThai, said it best: “People don’t want a discount … they want a lot of house for their money.”
It occurs to me that BravoThai have taken the developer’s ego out of the equation and decided to “just give the people what they want”. This is a very definitive shift in house builder philosophy.
Pt2 Buyers have changed
So, what has changed about the oh-so-elusive consumer? Are they the same people who used to buy condos with a different mindset? Or, are they a different group altogether? The answer is … a little of both.
Terry Collins again: “Consumer trust has flipped.” We discussed the old condo developer fear tactics used in the past. “You can’t own it … you can’t own it!” the condo mongers would say referring to houses; playing on the fears of buyers that the only property legal for a foreigner to own in Thailand was a (49 per cent) condo.
Now, not only have buyers become more educated and comfortable with the various methods one might “own” a house, some are becoming increasingly suspect of condominiums.
“People are afraid some of these condos aren’t going to get built,” said one veteran agent. Indeed, construction delays, design changes and rampant rumours of developer insolvency have some property buyers looking at condos with a suspicious eye.
Of course it is only the very few condos that deserve to be viewed with such suspicion but the “one bad apple” rule can still affect the rest of the condo builders’ “barrel” in the perception of buyers.
“People want to feel in control,” said Terry Collins. “While the buyer is waiting for a 40-storey high-rise to get built, he is at the mercy of the developer. With a house, the owner can come to inspect progress every day, and payment is based on pre-set benchmarks, not the developers’ need for cash flow.”
Potential buyers
My personal experience has seen some changes in the characteristics of potential buyers. Last December, my big three-bedroom condo in Jomtien Beach was vacant and for rent. This place is 168 sqm and feels like a house connected to the end of a condo. Many prospective renters consider it instead of a house.
In three days I had three couples from three different countries looking at it, but all for the same reason. Each and every one included a male head of household that had recently been re-posted to an industrial estate near Pattaya.
Two worked with companies forced out of Bangkok by the floods who chose to relocate rather than rebuild. The other was with a multi-national conglomerate that was planting their flag in advance of the AEC inauguration in 2015. No punters, sex-patriots or fugitives … just real people that needed real housing.
Overheated Asian economies have also changed the face of who is buying houses here.
More than one agent told the story of Singaporeans who can’t afford to retire in their own country, choosing Thailand for its fresh air and easy way of life. The same goes for Hong Kong Chinese that are falling victim to mainland Nuevo-riche Chinese driving real estate prices to the stratosphere.
Disgruntled North Americans and Europeans make up a hefty slice of the house-buying pie. Rising inflation and taxes create new expatriates every day.
Adam Coulson from BravoThai told me he’d had a flurry of French buyers who are fed up with the exorbitant taxes and political turmoil of their own country. I meet more of my own countrymen every month who also weary of carrying an increasingly top-heavy government on their back.
According to Adam, the off-shore worker making off-shore money no longer feels the urge to repatriate their hard earned cash to their native countries. He considers them the “perfect buyer”.
And, let’s remember that Thai people make up the lion’s share of real estate purchasers whether it is houses or condos.
“Thai people are using agents now,” said Adam. “We haven’t seen that before.” Traditionally Thai buyers used word-of-mouth and personal connections to lead them to a purchase.
Apparently they’ve gotten over the idea of paying a commission and are learning about the higher quality and better design of some Pattaya developers (even if they are farangs).
Pt3 Pattaya has changed
Now, I know it is taboo to say this, but the riots and floods of recent years did Pattaya a favour by forcing Bangkok Thais down the road to see how things had changed. Primary infrastructure like the motorway and other roads make it easier to get here and get around. Secondary infrastructure like schools, hospitals and major shopping venues create a much more livable environment.
The new generation of Thais isn’t affected by Pattaya’s old stigma of Thailand’s “brothel-by-the-sea” reputation. They see Pattaya for what it is; a dynamic and vibrant resort town. It’s easy to get here, bristling with all kinds of healthy recreation and quite a bargain compared to other regional competitors.
Having a little condo for weekend getaways is nice. Owning a big house with a private garden and swimming pool is better.
So, this month I played doctor with the Pattaya property market by making a house call and asking it: “How do you feel?” After hearing it ramble on for a couple of days about changes in developments, changes in consumers and changes in Pattaya, I came to the same conclusion my grumpy old doctor always arrives at about me. “You’re okay,” he’ll say. “You’re just getting older”
04/09/2013
Bamrung Amnatcharoenrit
The Nation
PATTAYA: -- Thailand's first tourist court will open tomorrow in the popular beach resort city of Pattaya as part of the government's move to reassure travellers of their safety while visiting the country.
From 4.30pm to 8.30pm, foreign tourists can come and lodge complaints, especially over unfair services and personal security. Consideration of cases will be cut to one day for uncomplicated disputes from the usual six months, Wirat Chinwinigkul, secretary-general of the Judiciary, said yesterday.
The specialised court will encourage negotiations between parties. Most of the cases are about consumer protection, so it is easier to reach a compromise. If it's a serious issue, the case will be transferred to the regular court. There will be capable officials speaking foreign languages to help.
Six more night courts are planned - Pathum Wan district for the Silom area and Dusit district for khao san in Bangkok, Krabi, Samui, Chiang Mai and Phuket. Those tourist destinations have faced various problems, especially cheating by operators.
The Pattaya court would be a pilot project. It is expected to take up speedboat services, which is one of the serious issues corroding the country's tourism image. It's also related to criminal cases.
Yesterday, four parties - police, prosecutors, the courts of justice and the Tourism Ministry - signed an agreement to set up the court and work together to help take care of foreign holidaymakers.
The court will also be responsible for looking after Thai tourists and scrutinising the role of tourism operators in providing fair services to tourists.
The ministry should set up a department to handle cases because some tourists have to go home before a ruling is handed down, he said.
In the future, Thailand should enact legislation to regulate the industry, like in France, because tourism is an important industry strengthening the national economy. It has grown rapidly, but existing laws cannot keep up, he added.
Tourism Minister Somsak Pureesrisak said it's a good sign for the country's tourism industry. The night court would help secure the industry's role in the long term, especially in achieving the target of Bt2 trillion in tourism revenue in 2015.
The ministry has made a big effort to standardise the industry, launching measures and regulations to crack down on scams. Especially Phuket needs a clean-up. The resort island is overrun by illegal services and gangsters.
-- The Nation 2013-09-04
Thai baht continues to weaken against
western currencies
This
year the Thai Baht has seen a lot of movement. From dropping below the
29.00 level to now passing the 32.00 level it is sitting today at 32.12.
According to "The Nation"
This is short term however tourists now will be getting more bang for
their baht and will be able to spend more and for foreign investors this
is a great time to bring money into The Kingdom. Atricle from "The Nation" below.
Plunge in the baht 'a short-term issue'
Business Desk
The Nation
Economic fundamentals strong, currency may rise again: analysts
BANGKOK: -- Thai economists and financial authorities say the sharp depreciation of the baht is likely to be a short-term phenomenon and foresee stability returning when the economy picks up, as economic fundamentals remain strong.
Commerce Minister Niwattumrong Boonsongpaisan said yesterday that the government would not interfere with the Bank of Thailand's work in stabilising exchange rates.
After a brainstorming session with the prime minister and Finance Minister Kittiratt Na-Ranong, Niwattumrong said the heart of this issue was to ensure stability and alignment with regional currencies. He said it would take a month or two to see if the baht's decline would boost Thai exports and whether the export target of 7-7.5 per cent would be revised.
Two forces are speeding the depreciation of regional currencies: the United States' plan to scale back its asset-buying or quantitative-easing (QE) measure because of improving economic health; and the worse-than-expected economic data within the region. Investors are shifting money back to the US.
The baht passed 32 to the dollar yesterday, a level unseen since September 2010, and economists say it could strengthen if the local economy shows improvement in the second half.
Tak Bunnag, head of Bank of Ayudhya's treasury group, said foreign investors had shifted investment out of Asia for some time. So if the Federal Reserve really acts to taper its QE, the baht should not fall much more, or it could even rise again.
In the year to date, the baht, at 32.12, has weakened by 4.8 per cent against the US dollar. Thailand's current-account deficit in the first half stood at 1.9 per cent.
Tak attributed part of the depreciation to the National Economic and Social Development Board's downward revision in the economic forecast on Monday. GDP figures roughly weigh 30 per cent when foreign investors make a decision, he said. This year's growth estimate for Thai gross domestic product was cut on Monday to 3.8-4.2 per cent after slowing in the second quarter to 2.8 per cent.
Kampol Adireksombat, senior economist at Tisco Securities, said the baht had fallen beyond its fundamentals.
His view was that the Thai economy should improve in the second half. If exports pick up, Thailand could show a balanced current account or even a slight surplus. In a worst-case scenario, a deficit of less than 1 per cent of GDP was anticipated. In these scenarios, it was likely the baht would strengthen against the dollar to around 31.5 later this year.
While urging the Bank of Thailand to restore exchange-rate stability via use of foreign reserves of US$170 billion (Bt5.45 trillion) or so, Kittiratt insisted yesterday that the economy remained strong. Even with slowing growth in the second quarter, investment was on track and would keep unemployment low.
To boost the economy in the second half, aside from pushing for the disbursement of the state budget and 20 measures backed by the Cabinet on August 6, the government would resort to no new measures, said Kittiratt.
"All the measures are not to boost the economy in the short term, but to invest in what we should and what will create long-term value," he said. All state agencies should also lend a hand in boosting consumer and investor confidence.
He said that in the short term, the macroeconomic picture remained satisfactory. The baht's depreciation was not worrying, in light of low inflation, as that would cushion negative impacts on importers.
Business Desk
The Nation
Economic fundamentals strong, currency may rise again: analysts
BANGKOK: -- Thai economists and financial authorities say the sharp depreciation of the baht is likely to be a short-term phenomenon and foresee stability returning when the economy picks up, as economic fundamentals remain strong.
Commerce Minister Niwattumrong Boonsongpaisan said yesterday that the government would not interfere with the Bank of Thailand's work in stabilising exchange rates.
After a brainstorming session with the prime minister and Finance Minister Kittiratt Na-Ranong, Niwattumrong said the heart of this issue was to ensure stability and alignment with regional currencies. He said it would take a month or two to see if the baht's decline would boost Thai exports and whether the export target of 7-7.5 per cent would be revised.
Two forces are speeding the depreciation of regional currencies: the United States' plan to scale back its asset-buying or quantitative-easing (QE) measure because of improving economic health; and the worse-than-expected economic data within the region. Investors are shifting money back to the US.
The baht passed 32 to the dollar yesterday, a level unseen since September 2010, and economists say it could strengthen if the local economy shows improvement in the second half.
Tak Bunnag, head of Bank of Ayudhya's treasury group, said foreign investors had shifted investment out of Asia for some time. So if the Federal Reserve really acts to taper its QE, the baht should not fall much more, or it could even rise again.
In the year to date, the baht, at 32.12, has weakened by 4.8 per cent against the US dollar. Thailand's current-account deficit in the first half stood at 1.9 per cent.
Tak attributed part of the depreciation to the National Economic and Social Development Board's downward revision in the economic forecast on Monday. GDP figures roughly weigh 30 per cent when foreign investors make a decision, he said. This year's growth estimate for Thai gross domestic product was cut on Monday to 3.8-4.2 per cent after slowing in the second quarter to 2.8 per cent.
Kampol Adireksombat, senior economist at Tisco Securities, said the baht had fallen beyond its fundamentals.
His view was that the Thai economy should improve in the second half. If exports pick up, Thailand could show a balanced current account or even a slight surplus. In a worst-case scenario, a deficit of less than 1 per cent of GDP was anticipated. In these scenarios, it was likely the baht would strengthen against the dollar to around 31.5 later this year.
While urging the Bank of Thailand to restore exchange-rate stability via use of foreign reserves of US$170 billion (Bt5.45 trillion) or so, Kittiratt insisted yesterday that the economy remained strong. Even with slowing growth in the second quarter, investment was on track and would keep unemployment low.
To boost the economy in the second half, aside from pushing for the disbursement of the state budget and 20 measures backed by the Cabinet on August 6, the government would resort to no new measures, said Kittiratt.
"All the measures are not to boost the economy in the short term, but to invest in what we should and what will create long-term value," he said. All state agencies should also lend a hand in boosting consumer and investor confidence.
He said that in the short term, the macroeconomic picture remained satisfactory. The baht's depreciation was not worrying, in light of low inflation, as that would cushion negative impacts on importers.
-- The Nation 2013-08-23
Pattaya tourists may get a little more for their money as Thailand’s baht weakens:
It was not long ago the Thai baht dipped briefly below the 30.00b mark against the U.S. dollar. The baht seemed to be correcting itself when it roughly flirted with the 32.00b level. As of last month the baht was once again threatening the psychological level of 30.00b ,but seemes to have taken a bounce favorable to tourists coming to spend their holidays here in Thailand. This, just in time for the coming high season and hopefully this trend will continue. Today the baht climbed to 31.40b for one U.S. dollar.
Gold also fell to levels flirting with the 23,000 Baht per baht. This means good news for tourists with their currency giving them more spending power especially in high season dependent areas like Chaing Mai, Phuket, Koh Samui, Krabi, Pattaya and Jomtien Beaches.
Just as well local hotels, guest houses, and serviced apartments may see customers adding nights to their stay as their holiday becomes more affordable. Likewise tour operators, souvenir shops and local businesses may see more trade as their products become cheaper and more doable for tourists.
Pattaya and Jomtien have seen an incredible amount of building over the last year since last year’s high season and developers, as well as local tradesman, are optimistic their rooms will fill up. Here’s to a great high season!
08/10/2012
If you have ever been in Pattaya during a heavy downpour you will be no stranger to how quickly the town can flood. Poor drainage has plagued the city for decades and with all the new development little has been done to correct the problems of poor drainage, not to mention how the flooding further effects an already poor infrastructure.
Local government has assured its citizens that rescue services are on full standby as is the military to aid local poice and rescue teams if necessary
Although the storm appears to be weakening and the worst of it possibly over, it will still take sometime to recover and with another powerful storm set to come in behind Gaemi, conditions may continue to be tough.
Locals have been encouraged to stock up on essentials, which will undoubtedly be causing prices on necessary goods to rise dramatically. Batten down the hatches and stay safe everyone.
Pattaya Real Estate Market Team!
05/10/2012
Earlier this afternoon a tour boat carrying 22 Korean tourists went down after reportedly taking on a huge wave. All 27 people were rescued including 22 passengers and 5 crew members. All were reportedly wearing life jackets at the time. Over crowding is the suspected reason for the sinking of the boat. Pattaya Sea Rescue squad and authorities are investigating the incident as well as the tour operators licenses.
Just a few days ago there was a collision just off the coast of Hong Kong where passengers were not as lucky. Always remember just because you're on holiday doesn't mean to let your guard down. When going by sea always wear life presevers or at least make sure there is sufficient amount for passengers and crew and they are easily accessable in an emergency.
This blog was published with some information aquired from the "Bangkok Post" and "Pattaya One.Net."
Holiday safe, regards Pattaya Real Estate Market Team!02/10/2012
The Chonburi area is expected to see 13,000 new units this year alone with another 8,000 for the Hua Hin Cha-Am region. The greater Bangkok area is expection another 60,000 units up almost 43%. This according to a survey conducted by the REIC.
There have been some declines reported in low rise residential developments, Bangkok saw a decline of 29% in comparison to this time last year. The business section in "The Nation" has allot of buzz lately regarding housing and condo prices and the amount of current and expected development. I found these numbers and this article interesting and have posted it below.
Huai Khwang, Chatuchak, Din Daeng, Sukhumvit from Phra Khanong to Samut Prakan, Chon Buri province, Hua Hin and Cha-am show signs of a condominium glut this year, according to the Real Estate Information Centre.
A survey by the REIC found that more than 13,000 condo units would enter the market in Chon Buri and nearly 8,000 units in Hua Hin and Cha-am this year. They will account for about a half of all sales in both locations.
In Greater Bangkok, the centre estimates new condo projects will supply 60,000 units this year, up 42.85 per cent from last year, and low-rise projects - detached houses, townhouses and duplexes - will supply 35,000 units, down 14.28 per cent. This will drive volume growth for the residential market to 15.85 per cent this year.
The full-year estimate for Greater Bangkok reflects the introduction in the first nine months of condo projects with 46,000 units, up 42 per cent from only 32,500 units in the same period of last year. Of those 46,000, 39 per cent or 18,000 units have usable space of 26 square metres or less, 36.9 per cent or 17,000 units have more then 30sqm and 23.9 per cent or 11,000 units have from 26-30sqm.
The first nine months recorded 24,000 units of new low-rise residential projects. This represented a steep decline of 29 per cent from 34,000 units in the same period of last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Prices in Greater Bangkok for condos rose 6.4 per cent on average this year, while detached-house prices increased 3.3 per cent and townhouse prices by 4.7 per cent. Developers had to cover their rising construction costs, he said.
The Bank of Thailand is also closely monitoring the condo market in Greater Bangkok as prices have spiked, central bank officials said last week.
The condo price index last month rose 8.1 per cent year on year, while mortgages increased 9.3 per cent. The detached-house price index climbed 2.4 per cent and that for townhouses 1.8 per cent year on year.
The supply of high-rise residential units in August expanded 4.8 per cent and that for low-rises by 13.9 per cent from July in Greater Bangkok.
02/10/2012
Don Mueang airport is now back in full operation. The first Air Asia departed for Bali on time at 03:00 this morning. The airport will be serving as a domestic hub, an international airport and assist with connecting flights from international origins to domestic destinations.
This should free up room and ease congestion at the already over crowded Suvarnabhumi airport and make things easier for tourists and business travellers. See the article below taken from this mornings "The Nation"
02/10/2012
Don Mueang International Airport started buzzing from 3am yesterday as its first flight of the day, AirAsia's FD3677, took off for Denpasar, Bali, on the dot of 6.15am as scheduled. All the ground staff, especially Thai AirAsia chief executive officer Tassapon Bijleveld, were delighted by the smooth takeoff.
Taking off smoothly and on time is common in the aviation industry, but for AirAsia this one was very meaningful, because yesterday was the first day for the low-cost airline to relocate its operations from Suvarnabhumi Airport.
The airline and Airports of Thailand spared no costs in keeping passengers in Terminal 1 entertained. AirAsia organised fashion shows and AOT paid for concerts. Their joint efforts were obviously meant to prove that the old airport was back in action.
Terminal 1 was full of people, as passengers, media personnel and guests jostled for a part of the action. In fact, an airport guard said he had never seen the facility this busy before.
And though there was a bit of a traffic jam getting to the departure building at 6am, passengers were not disappointed by how smoothly everything went.
Passenger Wichai Lhaoprapatsorn said he had no problems with the airline's relocation. He was taking a connecting flight to Yangon from Chiang Rai. However, he did voice concerns about having to take connecting flights with other airlines that fly out of Suvarnabhumi. He said Don Mueang should offer free transport to Bangkok's main international airport.
Things did not go too smoothly for everybody, however, as five foreigners ended up missing their flight. They had probably not heard about the relocation, though AirAsia staff have been going out of their way to inform people.
Meanwhile, Tassapon said Don Mueang's preparation was acceptable with the exception of some lighting problems, unclear signage and ground transport. He said he would inform AOT about these problems and hope the authority finds solutions within a week.
AirAsia founder Tony Fernandes was also present at the airport yesterday and said this relocation was a crucial step for Thailand to become a low-cost-carrier hub in the region. He added that cutting down the international passenger service charge would certainly help. He cited Malaysia, which only charges passengers Bt300.
Tassapon added that moving to Don Mueang was also beneficial for AirAsia because this airport was closer to downtown Bangkok. Hence, he said, the airline expected the number of its domestic passengers to increase by 5 per cent. Its current load factor for domestic flights is between 82 and 85 per cent.
Thai AirAsia operates about 160 flights daily, of which 45 are international. Next year, its daily flights should hit 200 and the airline hopes to generate at least Bt20 billion in sales revenue.
Nok Air CEO Patee Sarasin welcomed AirAsia to Don Mueang, saying its presence would change the dynamics of the airport. He said this market had more room for growth, especially since competition has intensified.
Currently, Nok Air operates 89 flights out of Don Mueang and its average load factor is 85 per cent. In the first quarter of next year, the firm plans to fly to four or five cities in China because of high demand. The airline already operates three charter flights per week to Nanjing.
Nok Air is also planning to get listed in the Stock Exchange of Thailand, aiming to spend the funds raised on expanding its fleet. It has about 11 planes at present and hopes to boost that number to 20 by next year.
It is aiming for profits worth more than Bt500 million by the end of this year, which shows a vast improvement from the Bt198 million it projected early this year. He said the airline had recorded profits worth Bt400 million so far this year.
01/10/2012
Cambodian airline Air Hanuman will soon start servicing 3 return flights between Siem Riep and Pattaya's Utapao airport per week. Opening up Pattaya as a servicable hub from more local destinatons is great news for local hotels, guest houses and serviced apartments as well as local -- and hopefully -- legit tour operators. For more please see this mornings article from Pattaya 103!
01/10/2012
Earlier this afternoon a tour boat carrying 22 Korean tourists went down after reportedly taking on a huge wave. All 27 people were rescued including 22 passengers and 5 crew members. All were reportedly wearing life jackets at the time. Over crowding is the suspected reason for the sinking of the boat. Pattaya Sea Rescue squad and authorities are investigating the incident as well as the tour operators licenses.
Just a few days ago there was a collision just off the coast of Hong Kong where passengers were not as lucky. Always remember just because you're on holiday doesn't mean to let your guard down. When going by sea always wear life presevers or at least make sure there is sufficient amount for passengers and crew and they are easily accessable in an emergency.
This blog was published with some information aquired from the "Bangkok Post" and "Pattaya One.Net."
Holiday safe, regards Pattaya Real Estate Market Team!02/10/2012
The Chonburi area is expected to see 13,000 new units this year alone with another 8,000 for the Hua Hin Cha-Am region. The greater Bangkok area is expection another 60,000 units up almost 43%. This according to a survey conducted by the REIC.
There have been some declines reported in low rise residential developments, Bangkok saw a decline of 29% in comparison to this time last year. The business section in "The Nation" has allot of buzz lately regarding housing and condo prices and the amount of current and expected development. I found these numbers and this article interesting and have posted it below.
Huai Khwang, Chatuchak, Din Daeng, Sukhumvit from Phra Khanong to Samut Prakan, Chon Buri province, Hua Hin and Cha-am show signs of a condominium glut this year, according to the Real Estate Information Centre.
A survey by the REIC found that more than 13,000 condo units would enter the market in Chon Buri and nearly 8,000 units in Hua Hin and Cha-am this year. They will account for about a half of all sales in both locations.In Greater Bangkok, the centre estimates new condo projects will supply 60,000 units this year, up 42.85 per cent from last year, and low-rise projects - detached houses, townhouses and duplexes - will supply 35,000 units, down 14.28 per cent. This will drive volume growth for the residential market to 15.85 per cent this year.
The full-year estimate for Greater Bangkok reflects the introduction in the first nine months of condo projects with 46,000 units, up 42 per cent from only 32,500 units in the same period of last year. Of those 46,000, 39 per cent or 18,000 units have usable space of 26 square metres or less, 36.9 per cent or 17,000 units have more then 30sqm and 23.9 per cent or 11,000 units have from 26-30sqm.
The first nine months recorded 24,000 units of new low-rise residential projects. This represented a steep decline of 29 per cent from 34,000 units in the same period of last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Of the condo projects launched in the first nine months in Greater Bangkok, 71 per cent were developed by 34 listed property firms and the remaining 29 per cent by 100 non-listed firms.
Of the low-rise residential projects launched in the first nine months in Greater Bangkok, 69 per cent were developed by listed property firms and 31 per cent by non-listed companies.
Samma Kitsin, director-general of the REIC, said yesterday that demand for condos was rising after the flood hit Bangkok and its suburbs late last year.
Prices in Greater Bangkok for condos rose 6.4 per cent on average this year, while detached-house prices increased 3.3 per cent and townhouse prices by 4.7 per cent. Developers had to cover their rising construction costs, he said.
The Bank of Thailand is also closely monitoring the condo market in Greater Bangkok as prices have spiked, central bank officials said last week.
The condo price index last month rose 8.1 per cent year on year, while mortgages increased 9.3 per cent. The detached-house price index climbed 2.4 per cent and that for townhouses 1.8 per cent year on year.
The supply of high-rise residential units in August expanded 4.8 per cent and that for low-rises by 13.9 per cent from July in Greater Bangkok.
02/10/2012
Don Mueang airport is now back in full operation. The first Air Asia departed for Bali on time at 03:00 this morning. The airport will be serving as a domestic hub, an international airport and assist with connecting flights from international origins to domestic destinations.
This should free up room and ease congestion at the already over crowded Suvarnabhumi airport and make things easier for tourists and business travellers. See the article below taken from this mornings "The Nation"02/10/2012
Don Mueang International Airport started buzzing from 3am yesterday as its first flight of the day, AirAsia's FD3677, took off for Denpasar, Bali, on the dot of 6.15am as scheduled. All the ground staff, especially Thai AirAsia chief executive officer Tassapon Bijleveld, were delighted by the smooth takeoff.
Taking off smoothly and on time is common in the aviation industry, but for AirAsia this one was very meaningful, because yesterday was the first day for the low-cost airline to relocate its operations from Suvarnabhumi Airport.The airline and Airports of Thailand spared no costs in keeping passengers in Terminal 1 entertained. AirAsia organised fashion shows and AOT paid for concerts. Their joint efforts were obviously meant to prove that the old airport was back in action.
Terminal 1 was full of people, as passengers, media personnel and guests jostled for a part of the action. In fact, an airport guard said he had never seen the facility this busy before.
And though there was a bit of a traffic jam getting to the departure building at 6am, passengers were not disappointed by how smoothly everything went.
Passenger Wichai Lhaoprapatsorn said he had no problems with the airline's relocation. He was taking a connecting flight to Yangon from Chiang Rai. However, he did voice concerns about having to take connecting flights with other airlines that fly out of Suvarnabhumi. He said Don Mueang should offer free transport to Bangkok's main international airport.
Things did not go too smoothly for everybody, however, as five foreigners ended up missing their flight. They had probably not heard about the relocation, though AirAsia staff have been going out of their way to inform people.
Meanwhile, Tassapon said Don Mueang's preparation was acceptable with the exception of some lighting problems, unclear signage and ground transport. He said he would inform AOT about these problems and hope the authority finds solutions within a week.
AirAsia founder Tony Fernandes was also present at the airport yesterday and said this relocation was a crucial step for Thailand to become a low-cost-carrier hub in the region. He added that cutting down the international passenger service charge would certainly help. He cited Malaysia, which only charges passengers Bt300.
Tassapon added that moving to Don Mueang was also beneficial for AirAsia because this airport was closer to downtown Bangkok. Hence, he said, the airline expected the number of its domestic passengers to increase by 5 per cent. Its current load factor for domestic flights is between 82 and 85 per cent.
Thai AirAsia operates about 160 flights daily, of which 45 are international. Next year, its daily flights should hit 200 and the airline hopes to generate at least Bt20 billion in sales revenue.
Nok Air CEO Patee Sarasin welcomed AirAsia to Don Mueang, saying its presence would change the dynamics of the airport. He said this market had more room for growth, especially since competition has intensified.
Currently, Nok Air operates 89 flights out of Don Mueang and its average load factor is 85 per cent. In the first quarter of next year, the firm plans to fly to four or five cities in China because of high demand. The airline already operates three charter flights per week to Nanjing.
Nok Air is also planning to get listed in the Stock Exchange of Thailand, aiming to spend the funds raised on expanding its fleet. It has about 11 planes at present and hopes to boost that number to 20 by next year.
It is aiming for profits worth more than Bt500 million by the end of this year, which shows a vast improvement from the Bt198 million it projected early this year. He said the airline had recorded profits worth Bt400 million so far this year.
01/10/2012
01/10/2012
In the hottest selling areas for condos such as Pattaya, Naklua, Jomtien, and even the proclaimed "Beverly Hills" of Pattaya..Pratumnak Hill, there seems to be one overshadowed market place.
Chonburi province in its own right boasts huge industrial compounds that require corporate housing for both Foreigners and Thal Nationals.
LPN Development is currently estimating demand at 10,000 new condominium units per year to house blue and white collar workers currently working in Chonburi factories and industrial estates. These new projects are slated to very reasonably priced starting at 550,000 Bt and not to exceed 2 Million Bt.
To gain a better understanding of just how much of a housing shortage exists through Chonburi's industrial compounds please check out the article below from "The Nation".
More than Bt20 billion worth of new condominium projects will be launched in Chon Buri province, including Pattaya, in the current second half of the year thanks to strong demand. Most of the demand is for condos priced lower than Bt2 million.
LPN Development says it sees demand in Chon Buri for nearly 10,000 condominium units per year.
These are located near eight industrial estates around the province, such as Amata, Laem Chabang, Saha Group's estate, three projects near Pinthong Industrial Estate, Hemaraj and Panthong Kasem Industrial Estate.
These estates host 479 manufacturing plants that employ more than 211,000 people, 10 per cent of whom are white-collar staff. Chon Buri also has five universities.
LPN Development managing director Opas Sripayak said many employees in the industrial estates and students and teachers in the universities rented serviced or unserviced apartments costing between Bt3,000 and Bt5,000 a month. But Chon Buri province has only 28 apartment projects with a combined 1,262 units, not enough to handle the rising demand.
The company's survey also showed that industrial-estate employees who want to buy a home needed the price not to be higher than Bt2 million.
As a result, the company decided to launch its latest condominium project, Lumpini CondoTown Chonburi-Sukhumvit, worth Bt2.6 billion. The project has 4,181 units at starting prices of Bt550,000, which have utilisation space of 21 square metres.
The project will open for booking next weekend.
By the end of last week, the company had already issued 2,000 queue tags to people interested in booking next weekend, and expects tags to total 2,500-3,000 before bookings open on Saturday.
This is an indication of the strong demand in this market after the company had successful launches of three condominium projects in Pattaya worth Bt8.2 billion in the first half of the year.
Sansiri also will launch its first condominium project in Pattaya, in the Wong Amat area, next weekend called Baan Plai Haad, worth Bt2.2 billion, with 353 units at a starting price of Bt3.59 million.
In the third quarter, Kingdom Property Co launched a condominium project called Southpoint Pattaya, worth Bt2 billion.
In the same quarter, Kotobuki Property launched a condominium project worth Bt95 million at Lamthan, Chon Buri province.
A survey by the Agency for Real Estate Affairs shows 87,500 residential units worth Bt246.5 billion in Chon Buri province, of which 60,241 have sold. The agency believes that the rest will be sold out by the end of the year because this market has strong demand, especially for units priced lower than Bt3 million.
29/9/2012
The debacle better know as Bangkoks Suvarnabhumi airport -- aka "Swampy" -- has finally realised it needs to catch up with modern times and be able to properly cope with the yearly increases in travellers coming in and out. This may finally begin to improve its image.
Word is they are hiring 250 more immigration officers to help speed up entrance into the kingdom. Also they are setting a minimum of 20 minutes after a flight parks for the first bag to come out from the carousel.
If that isn't enough to get excited about they are in the process of implementing 15-30 minutes of free wifi service in the terminals. That's right a whopping 15-30 minutes free....at least its a start :). This is what i gather after reading this article i found on "Thai Visa" listed below.
BANGKOK, Sept 29 – Suvarnabhumi Airport hopes to see great improvement in immigration checks, baggage claims and internet service soon to cope with the increasing passenger load next year, airport director Somchai Sawasdeepon said yesterday.
The international airport will have 180 less flights or 10 million less passengers each day after budget airline Thai AirAsia relocates to Don Mueang airport on Monday.
Mr Somchai said 250 more immigration officials will be on duty at Suvarnabhumi airport to accelerate visa inspections, and reduce the process from 50 minutes per passenger to 20 minutes.
Passengers will find it more convenient with the visa checking areas three times larger while baggage claims must be finished within 30 minutes after a flight lands, with the first baggage delivered to a carousel in 20 minutes, Mr Somchai said, adding that a 15-30 minute free wi-fi service will also be available.
Suvarnabhumi airport served 48.32 million passengers between Oct 2011 and August this year, a 9.65 per cent increase year-on-year. It is estimated that the total number will be 52.6 million passengers, or 301,477 flight, at the end of this fiscal year on Sunday Sept 30. It predicted an 8-9 per cent growth next year with a major increase in passengers from China, Malaysia and India.
Airports of Thailand (AoT) has planned a second-phase development project of Suvarnabhumi with an investment of Bt65 billion to cope with 60 million passengers by 2017. (MCOT online news)
Mr Somchai said 250 more immigration officials will be on duty at Suvarnabhumi airport to accelerate visa inspections, and reduce the process from 50 minutes per passenger to 20 minutes.
Passengers will find it more convenient with the visa checking areas three times larger while baggage claims must be finished within 30 minutes after a flight lands, with the first baggage delivered to a carousel in 20 minutes, Mr Somchai said, adding that a 15-30 minute free wi-fi service will also be available.
Suvarnabhumi airport served 48.32 million passengers between Oct 2011 and August this year, a 9.65 per cent increase year-on-year. It is estimated that the total number will be 52.6 million passengers, or 301,477 flight, at the end of this fiscal year on Sunday Sept 30. It predicted an 8-9 per cent growth next year with a major increase in passengers from China, Malaysia and India.
Airports of Thailand (AoT) has planned a second-phase development project of Suvarnabhumi with an investment of Bt65 billion to cope with 60 million passengers by 2017. (MCOT online news)
27/9/2012
Pattaya's government may actually mean business when it comes to cleaning up the beaches in Pattaya and jomtien. It has long been a problem with jet ski operators acamming and even strong arming tourists into paying money for damages they did not cause.
This can greatly affect Pattaya and Jomtiens tourist trade, souring the future for tourism in the areas. Random weekly inspections as well as yearly check to make sure operators have and can continue to re-new their licenses are already being implemented. Have a look below atthe article from Pattaya One News!
On Thursday afternoon the first of a series of random weekly checks on Jet Ski’s and their operators on Pattaya and Jomtien Beaches took place in an effort to stop the well publicized Jet Ski scams which have a huge negative impact on tourism in the area.
A team of officials including Police Colonel Tamanoon, the Pattaya Police Chief, Khun Pongtasit, Chief Bailiff of Banglamung District along with Khun Adisorn, local adviser to the Ministry of Labor and officers from the Marine Department, conducted an inspection of the Jet Ski’s and operators located along Pattaya Beach.
Apart from the vehicles themselves the Jet Ski operators were given details of newly enforced regulations which must be adhered to from now on which includes yearly checks for each Jet Ski before licenses to operate can be re-issued.
For those that fail to comply with these regulations, strong penalties will be issued and they will not be permitted to run their business from the beach.
27/9/2012
Looks like the boys in brown and the local government are finally recognising the growing crime rate in Pattaya and deciding to take action. This will include safety nets, more tourist police in more areas as well as cctv cameras through out the city. Check out this article from Thai Visa
Pattaya sets up safety zones to reduce crime rates
PATTAYA, 27 September 2012 (NNT) - In the wake of increased crime rates in Pattaya district of Chonburi province, local police are pushing ahead with their plan to set up a safety zone project in the beach area and the Walking Street.The Chonburi Governor and the Pattaya Mayor will together preside over the project opening ceremony at the Walking Street tomorrow, during which the safety zone project will be officially unveiled.
According to Superintendent of Pattaya police station Pol Col Thammanoon Mankong, the scheme is to provide tourists from around the globe who visit Pattaya each year with a greater sense of safety. He elaborated that a police patrol unit will be assigned to the safety zone on a 24-hour basis.
In a bid to reduce crime, the district police will set up police checkpoints, widen participation from tourist police units and other related agencies, enlist further cooperation of local communities and business operators, as well as monitor footage captured by CCTV cameras installed throughout Pattaya.
Pol Col Thammanoon said that by giving priority to tourist safety, the number of tourist arrivals will eventually be boosted, generating more tourism revenue for local businesses and for Thailand as a whole.
25/9/2012
Anyone that has spent any amount of time in Pattaya knows when it rains...it floods. Pattaya despite all its new high end housing and condos along with upscale restaurants and night clubs still has very poor drainage sysytems.
Short term and long term residents of the Soi Buahkhao area especially around the Soi Diana section of the soi is vulnerable to meter deep waters with in an hour of a torrential downpour.
Thailand as a whole has recently been battered by heavy rains and unfortunately the outlook does not seem much better in the coming days. Check out this article from PattayaOne.Net:
Monday Night saw further spells of torrential rain which caused flash floods around the City and according to weather reports the rainstorms are expected to become more severe over the coming days.
Already some Embassies have issued flood warnings to its citizens and according to the latest weather updates from the Thai Meteorological Department there is a high pressure system from China and a strong south-western monsoon prevailing over most of Kingdom including the Gulf of Thailand, the Eastern provinces are expected to see the worst of the storms.
The Pattaya authorities are doing their best to clear blocked storm drains and are working around the clock, but we noticed on Monday Night large amounts of debris within the flood waters which will only re-block drains that may have been earlier cleared.
23/9/2012
Jimmy Page joined the Jesters last night for their Care for Kids fund raiser. Jimmy donated an acoustic guitar ad was joined by other musicians to the likes of Len Tuckey, Tony Stevens, and Barry Upton.
Always nice to see people getting together for a worthy cause and make some kind of a difference. Jesters have been doing it for years and helps boost Pattaya's reputation to something more than just a sex-pat society. The full article from Pattaya 103 FM is below. Happy reading!
22/9/2012
PATTAYA, 27 September 2012 (NNT) - In the wake of increased crime rates in Pattaya district of Chonburi province, local police are pushing ahead with their plan to set up a safety zone project in the beach area and the Walking Street.The Chonburi Governor and the Pattaya Mayor will together preside over the project opening ceremony at the Walking Street tomorrow, during which the safety zone project will be officially unveiled.
According to Superintendent of Pattaya police station Pol Col Thammanoon Mankong, the scheme is to provide tourists from around the globe who visit Pattaya each year with a greater sense of safety. He elaborated that a police patrol unit will be assigned to the safety zone on a 24-hour basis.
In a bid to reduce crime, the district police will set up police checkpoints, widen participation from tourist police units and other related agencies, enlist further cooperation of local communities and business operators, as well as monitor footage captured by CCTV cameras installed throughout Pattaya.
Pol Col Thammanoon said that by giving priority to tourist safety, the number of tourist arrivals will eventually be boosted, generating more tourism revenue for local businesses and for Thailand as a whole.
22/9/2012
It appears that the higher ups in Pattaya are finally realising their dream of turning the booming beach resort into a five star city is being jeopardised by rogue operators along the beach.
It has long been a problem with jet ski vendors and all the scams they pull, leaving tourists with a bad taste about Pattaya and are not interested in returning....furthermore recommending to their family and friends not to holiday there.
There was a meeting in Chonburi to promote and protect tourism in the city. On the agenda was the growing problem of crooked jet ski operators and other beach vendors. Check out this article from Pattaya 103.
18/9/2012
Is Koh Larn getting ready to expand? Are there are any real plans laying out tourism, infrastructure, and future? How about a 10 Billion Baht plan from Hermaraj Land and Development PLC.
The new development is slated to have a new full marina with boat docking and hotels. Also on tap is an aquarium, safari park and a range of 3,4,and 5 star hotels. Small electric and cable cars will be the only available forms of transportation on the tiny island. Below is the entire article from "The Nation"
THE NATION September 17, 2012 1:00 am
Koh Larn chosen because it is ‘not too large and also has proximity to Pattaya
Sawasdi Horrungruang, founder of Hemaraj Land and Development Plc and now chairman of the advisory board, is geared the listed real estate firm towards the upcoming launch of a Bt10-billion entertainment complex on Koh Larn near Pattaya, to serve an expected increase in the number of both domestic and international tourists.
The project, undertaken by Million Island Co Ltd, a wholly owned subsidiary of Hemaraj, was aimed as a new link to destinations in Hua Hin. Getting to Hua Hin from Koh Larn off Pattaya by boat takes an hour, compared with four hours by road.
"This will be a choice for touristswho travel to Pattaya, Koh Larn and then towards Hua Hin," said Sawasdi. He said reasons for choosing Koh Larn is that it's not too large an island, offering serenity and proximity to the shore of Pattaya.
In addition, he foresaw tourist arrivals on the island of nearly 10,000 people a day on weekends and 6,000 a day on average. This could rise to 12,000 a day if there were more facilities.
Million Island Co Ltd bought 228 rai, half of Koh Larn's total area, for Bt2 billion from hotel developer Wicha Baopimpa in Pattaya seven months ago, Sawasdi said. There will be four phases, with construction expected to start next year.
The first phase will include a marina, hotels and boat docking. A ll four phases
are scheduled to be completed in thenext five years. Now, he said the company was selecting a foreign consulting firm to design the landscape. Roughly, he said the project would be in a vertical shape, comprising an aquarium, 3-, 4- and 5-star hotels, condominiums for sale,
restaurants, a walking street, pavilions, high-end shopping areas and a safari park.
On the island,small electric and cable cars would be the only transport options.
"All the projects I've done started from a dream and then transformed onto paper before
being materialised," he said. Since coming out of insolvency in February, Sawasdi, 71, has dreamed up another project and has been thinking of a way for it to happen. He aims to differentiate the huge investment complex on Koh Larn not only from rivals but from his former projects that left mounting debts of almost Bt100 billion on his shoulders.
The financial crisis of 1997 brought the collapse of Sawasdi's steel businesses - NTS Steel Group and Nakornthai Strip Mill (NSM) - which were flooded with debts once the baht went from Bt25 to Bt50 against the US dollar. NTS Steel Group eventually for med a joint venture with a subsidiary of SCG and changed its name to Millennium Steel before being sold to India-based Tata Steel. NSM has been merged into G Steel, owned by Somsak Leeswadtrakul. Sawasdi and his family members retain a combined 14-per-cent stake, or 1.35 billion shares (as of August
27), in Hemaraj, which is one of the businesses he founded. For the Koh Larn complex,
Sawasdi said Hemaraj would initially be a majority shareholder, but th is may be diluted in the future to such others as Wicha, who has offered to hold a 20-per-cent stake in Million
Island, and other potential strategic partners.
In the first stage, Million Island will use bank loans to finance the complex, which will be guaranteed by Hemaraj, while some funding would come from Hemaraj's cash
flow, Sawasdi said. "We do not fear creating new debts, as we have learnt a lesson from
the past. The property business is not like heavy industry, which must wait for the last baht before the operation can start. For the property business, we can gradually invest in
a project phase by phase, as well as generating income in parallel in a bid to finance the other phases." He proposed a new way of raising funds to finance projects: setting up a tri-party group consisting of the company, creditor and debtor's customers to reassure debts are repaid.
Once the company has an income on a monthly basis, this will first be deducted to pay off the principal sums and interest to banks, who are the creditors. The balance should be
given to the company.
The project, undertaken by Million Island Co Ltd, a wholly owned subsidiary of Hemaraj, was aimed as a new link to destinations in Hua Hin. Getting to Hua Hin from Koh Larn off Pattaya by boat takes an hour, compared with four hours by road.
"This will be a choice for touristswho travel to Pattaya, Koh Larn and then towards Hua Hin," said Sawasdi. He said reasons for choosing Koh Larn is that it's not too large an island, offering serenity and proximity to the shore of Pattaya.
In addition, he foresaw tourist arrivals on the island of nearly 10,000 people a day on weekends and 6,000 a day on average. This could rise to 12,000 a day if there were more facilities.
Million Island Co Ltd bought 228 rai, half of Koh Larn's total area, for Bt2 billion from hotel developer Wicha Baopimpa in Pattaya seven months ago, Sawasdi said. There will be four phases, with construction expected to start next year.
The first phase will include a marina, hotels and boat docking. A ll four phases
are scheduled to be completed in thenext five years. Now, he said the company was selecting a foreign consulting firm to design the landscape. Roughly, he said the project would be in a vertical shape, comprising an aquarium, 3-, 4- and 5-star hotels, condominiums for sale,
restaurants, a walking street, pavilions, high-end shopping areas and a safari park.
On the island,small electric and cable cars would be the only transport options.
"All the projects I've done started from a dream and then transformed onto paper before
being materialised," he said. Since coming out of insolvency in February, Sawasdi, 71, has dreamed up another project and has been thinking of a way for it to happen. He aims to differentiate the huge investment complex on Koh Larn not only from rivals but from his former projects that left mounting debts of almost Bt100 billion on his shoulders.
The financial crisis of 1997 brought the collapse of Sawasdi's steel businesses - NTS Steel Group and Nakornthai Strip Mill (NSM) - which were flooded with debts once the baht went from Bt25 to Bt50 against the US dollar. NTS Steel Group eventually for med a joint venture with a subsidiary of SCG and changed its name to Millennium Steel before being sold to India-based Tata Steel. NSM has been merged into G Steel, owned by Somsak Leeswadtrakul. Sawasdi and his family members retain a combined 14-per-cent stake, or 1.35 billion shares (as of August
27), in Hemaraj, which is one of the businesses he founded. For the Koh Larn complex,
Sawasdi said Hemaraj would initially be a majority shareholder, but th is may be diluted in the future to such others as Wicha, who has offered to hold a 20-per-cent stake in Million
Island, and other potential strategic partners.
In the first stage, Million Island will use bank loans to finance the complex, which will be guaranteed by Hemaraj, while some funding would come from Hemaraj's cash
flow, Sawasdi said. "We do not fear creating new debts, as we have learnt a lesson from
the past. The property business is not like heavy industry, which must wait for the last baht before the operation can start. For the property business, we can gradually invest in
a project phase by phase, as well as generating income in parallel in a bid to finance the other phases." He proposed a new way of raising funds to finance projects: setting up a tri-party group consisting of the company, creditor and debtor's customers to reassure debts are repaid.
Once the company has an income on a monthly basis, this will first be deducted to pay off the principal sums and interest to banks, who are the creditors. The balance should be
given to the company.
16/9 2012
If you have been paying attention to any of the local Thai news, you would know that rainy season is definitely upon us here in the "Land of Smiles"... and it aint all smiles.
Certainly for folks in the central plains like, Sukkothai, Petchabun, and Phitchit where flood waters have been measured as deep as two + meters.
Bangkok had a real disaster last year and even Yingluk herself has overseen flood tests of dykes and levys in Bangkok to try and ensure residents, corporate owners, investors, and tourists there is nothing to fear.
However, folks in other provinces are being over-run, businesses are suffering, and tourisits continue to lament. Check out what is going on in Koh Chang at the moment from this article today in the "Bangkok Post"
Heavy rains combined with mountain water run-off on Sunday triggered flash floods at four popular tourist destinations on Koh Chang off Trat province, including Hat Sai Khao (White Sands Beach), reports said.
The rainfall that drenched the tourist island from the early morning hours left areas in Hat Sai Khao, Ban Kai Bae, Ban Khlong Phrao and Ban Khlong Phlu under 30 to 120cm of water.
About 500 metres of the main road along Hai Sai Khao beach was under 30-50 cm of floodwater, causing difficulty in commuting.
Authorities said they and volunteer workers cleared debris off flooded roads and ensured that the water drainage system was not blocked.
The Ban Kai Bae area was worst hit with water rising to 120 cm on Ramayana Avenue after an overflow from a local canal. The community’s main road, many houses and resorts were flooded by 80-100 cm of water, according to reports.
Wanroong Kanornkul, a kamnan at Koh Chang, said backhoes and other heavy machinery had been sent to affected areas to dredge canals to accelerate the water flow into the sea.
He said the flood problem on Koh Chang island was temporary and would last only a few hours and that there was no danger. The situation was expected to return to normal by the evening.
However, six waterfalls needed to be closed to tourists due to strong currents.
Photo by Post Today
Photo by Post Today
11/9/2012
There are four new projects in the works for the Pattaya area which will be beneficial to ex-pats as well.
- Firstly expats will be able to enjoy these venues and use them to entertain family and friends when they come to visit.
- Secondly these venues will help increase the value of their property.
- And finally these venues will help reduce Pattaya's image as only a sex tourist destination
- Kidzania
- Ramayan Water park
- Amazon Falls Water Park
- Siam World Art Company
Check out this article from the Bangkok Post:
PATTAYA : Four projects in the tourism sector worth 2.23 billion baht that received Board of Investment (BoI) privileges are poised to open this year and next.
The first is a Hong Kong investment of 550 million baht by the Kidzania Group, the world's fastest-growing edutainment brand, to set up Kidzania this December at Siam Paragon.
Kidzania is a role-playing activity where children aged 4-12 can try out different adult occupations.
The second project is a 900-million-baht Thai-Russian joint venture to set up Ramayana water park in Chon Buri's Sattahip district slated for next year.
The third is a 620-million-baht project by Pacific Shore Development to set up Amazon Falls Water Park. This joint venture between Hong Kong and Malaysia will be in Pattaya and is slated to open next year.
The last is a 162-million-baht project by Siam World Art Co to set up a cultural centre with investment from South Korea. The centre will be located in Pattaya exhibiting sculpture, paintings and Thai-Korean culture.
BoI secretary-general Atchaka Sibunruang said the board expects higher investment in the tourism sector, especially theme parks that will enable Thailand to compete with Hong Kong's Disneyland, Singapore's water park and Malaysia's theme parks. Amazon Falls will be the first water park in the world to use cartoon presenters.
The Ramayana is billed as the largest water park in Asia Pacific. Once these two open, they should attract investment in other areas, she added.
From 2007-12, a total of 23 projects applied for investment promotion in the tourism sector, totalling 3.48 billion baht.
Three projects totalling 1.47 billion baht were theme parks, four projects totalling 707 million baht were cultural centres, 12 projects worth 417 million baht were hiring boats for tourism, and three projects totalling 215 baht were tourist boat parking areas.
Dr Atchaka said the BoI is revising its promotion policies. The tourism sector will still be given a prominent place, but some adjustments might be made in terms of providing incentives for projects the government prioritises, such as theme parks and water parks.
To this point no global-scale theme park producers such as Disney or Universal have shown interest in investing in Thailand, said Dr Atchaka. Malaysia and Singapore provide many incentives to attract tourism projects, such as racing arenas, she said.
In the past the BoI provided incentives for a variety of tourism businesses, such as racing arenas, open zoos and electric hoists, but have not received any interest from business operators, said Dr Atchaka.
With all the speculation going on about if Pattaya is getting over saturated with condo projects or even in Thailand i think this puts things in perspective. revenue is up 56% from the first half of the year and half of these property firms will be delivering their projects ready for transfer by the end of this year. Here's is Sept 3 article from "The Nation"
Fifteen listed property firms will show revenue from their condominium projects totalling at least Bt100 billion in the second half of this year, up 56 per cent from the first half thanks to transfers of completed condos to customers, according to research by Asia Plus Securities.
The research said 85 main condominium projects worth Bt179 billion developed by the top 15 listed property firms would be ready for transfer in the current half. These companies also have low-rise residences ready for sale, with transfers to customers in the second half worth Bt37.3 billion. Total backlog is worth Bt216.3 billion.The top 15 property firms listed on the Stock Exchange of Thailand are Pruksa Real Estate, Land & Houses, Sansiri, Quality Houses, Asian Property Development, SC Asset Corporation, Supalai, Noble Development, Lalin Property, Property Perfect, LPN Development, Major Development, Sena Development, Raimon Land, and MK Real Estate Development.
"We target total revenue from their condominium backlog of at least Bt100 billion, or half of their condominium projects worth Bt217 billion, that will be completed and ready to transfer this year," the research said.
This will drive the net-profit margin of these companies to 15 per cent in the second half, better than the average 13.01 per cent in the second quarter of this year.
The top 15 reported total revenue of Bt63.9 billion in the first half, comprising Bt29.4 billion in the first quarter and Bt34.5 billion in the second.
They also showed net profit of Bt8.06 billion in the first half, Bt3.57 billion recorded in the first quarter and Bt4.49 billion in the second.
The total presales of the 15 companies covered by the research were
worth Bt54.3 billion in the second quarter compared with Bt50.5 billion in the first quarter, so overall in the first half they booked presales of Bt105 billion.
LPN Development managing director Opas Sripayak said it would book revenue of at least Bt10 billion in the current half of the year after transfer of its condominium projects to customers in the third and fourth quarters. They include Lumpini Park Rama 3-Riverside, Lumpini Ville Pattanakarn, Lumpini Ville Piboonsongkram-Riverview, Lumpini CondoTown North Pattaya-Sukhumvit, and Lumpini Ville Chaengwattana-Pakkret.
Property Perfect chief executive officer Chainid Ngowsirimanee said the company would have Bt3 billion worth of condominium projects ready to transfer to customers in the current half. This will drive its revenue to Bt12 billion by the end of the year.
Sansiri president Srettha Thavisin said it would have Bt15.8 billion worth of residential projects ready to transfer in the second half after the company delivered 3,185 units worth Bt10.16 billion in the first six months.
Asian Property Development has four condominium projects ready to transfer. They total 1,564 units worth Bt8.69 billion at The Address Sathorn, The Address Asoke, The Address Sukhumvit 61, and Aspire Srinakarin.
Most of the condo projects ready to transfer in the current half have been launched since 2010, the year.
Looks like the rules are once again changing. The SET will be banning new property funds to replaced by real estate investments to both protect and draw investors. This article was in "The Nation" today and i found it interesting, hope you enjoy it!
The Nation
The Stock Exchange of Thailand expects more property funds to be launched before they are replaced by real estate investment trusts, which provide greater investor protection at the cost of lower returns.
Bt30 billion was raised through property funds in the first eight months of this year, which was a new record, Chanitr Charnchainarong, senior vice president, said yesterday.New funds raised Bt27.4 billion while existing funds expanded by Bt2.59 billion. In 2010 and 2011, property funds raised only Bt8.59 billion and Bt14.46 billion.
"The value should rise further, through fund-raising by new and existing funds before the end of 2013," he said.
Developers are encouraged to launch property funds before the end of next year to attract investors, as dividends paid out by property funds to corporate and individual investors are not subject to withholding tax.
However, a year after the REIT law takes effect next month, they will be slapped with a 10-per-cent withholding tax.
For better protection of investors, all of REIT's properties will be held by banks as trustees. Property funds establish a juristic body to guard their properties.
The Securities and Exchange Commission will ban new property funds once REIT rules are enforced.
Expecting busy traffic until the deadline, the SET is urging developers wanting to take advantage of the current rules to seek free advice and prepare for the launching of their property fund.
At present, 39 property funds are listed with combined market capitalisation of Bt149.28 billion. Among the four entering the market this year was the Tesco Lotus Retail Growth Freehold and Leasehold Property Fund, which mobilised the biggest-ever amount - Bt18.4 billion.
The CPN Commercial Growth Property Fund is preparing for listing this month.
There has been much speculation in recent years regarding the condo boom around the Pattaya area...is it getting over built. I saw this article in the Bangkok Post todaystating smaller developers may run short on funds for completion of projects due to rising construction costs and Pattaya possible getting over built. Future prospective buyers are always advised to consult a lawyer and conduct their own Due Diligence. Best advice is to stick to the more established developers and consult with local real estate professionals. Here is the article:
Pattaya condos 'may not be built'
Home buyers must be extra cautious in purchasing condos in Pattaya as smaller developers are expected to face difficulties in actually starting construction of their projects, according to a major developer, SET-listed Raimon Land Plc (RML).
Reuters Photo
According to the latest Raimon Lands annual research publication Condominium Focus Thailand: Update for Inner-City Bangkok and Pattaya, 28,892 condo units are expected to be completed in Pattaya over the next three years.
However data gathered over the last one year (from the second half of 2011 to the first half of 2012) shows that 3,258 units have already been officially suspended.
Simon Derville, Raimon Land’s deputy vice president for business development said the majority of the units suspended tend to be low rise, 8-storeys high and without beach front or sea view, which makes it difficult to sell.
He forcasts that the number of development projects that would not be able to secure financing due to low pre-sales could reach up to 10,000 units over the next three years.
"If you are buying from someone you never heard of, you should definitely double check, ask a lot of questions and do our own due diligence," he said adding that buyers should find out if the developer actually owns the land if they have secure financing for construction and what their previous construction projects include.
Will thailand be able to cope with increasing business travel and tourism??
As Thailand continues to grow in both business travelers and tourism, will the much lamented Suvarnabhumi Airport be able to cope with these increasing numbers and what is Thailand and the AOT doing about it? I found this article in the Bangkok Post addressing the issue:
Suvarnabhumi Airport will need to carry out the next phase of expansion as soon as the current upgrade works are completed or faces yet again the perennial problem of capacity lagging behind traffic demand.
"The airport's phase 3 expansion will have to proceed immediately after the current phase 2 is finished over the next 5-6 years," Somchai Sawasdeepon, the general manager of Suvarnabhumi airport, told the Bangkok Post.
He raised this awareness as Airports of Thailand Plc (AoT), the state-controlled operator of the country's six main airports including Suvarnabhumi, is attempting to bring forward the completion date of Suvarnabhumi's phase 2 expansion by one year to 2016 to cope with the rising traffic.
Suvarnabhumi has been plagued with congestion as governments and AoT did not heed to planners' suggestions that the expansion should be carried out right after the airport was opened in September 2006.
As Southeast Asia's busiest airport, Suvarnabhumi has been operating beyond its annual capacity of 45 million passengers for a few years and AoT foresees the passenger volumes of 52.2 million this year.
Suvarnabhumi is handling 830 flights a day, operated by 100 international carriers, with some 150,000 passengers passing through it each day.
Phase 3 would involve the construction of a second mid-field passenger terminal, the fourth runway and the expansion of the eastern wing of Suvarnabhumi's main passenger terminal.
Works under phase 3 would render an incremental capacity of 13 million passengers a year, allowing Suvarnabhumi to cope with the demand until 2022, according to Mr Somchai.
Continued expansion of Bangkok's airports are needed based on long-term projections of the International Civil Aviation Organization (ICAO) and International Air Transport Association (IATA), he said.
Both organisations foresee passengers passing through Bangkok _ Suvarnabhumi and the old Don Mueang airport _ are expected to soar from 69.5 million in 2017, to 84.7 million in 2022 before reaching 102 million in 2027, an annual average growth rate of 3.4%.
AoT is working with EPM Consortium, its project management consultant for phase 2 expansion, to cut the development time to 58 months from 70 months, by trimming periods required for each work phase.
"It is a challenge to do so while ensuring the quality of works required, but that's possible," Mr Somchai said.
The long-delayed phase 2 project requires a capital outlay of 62.5 billion baht and will raise Suvarnabhumi's passenger handling capacity by 33% to 60 million passengers a year.
AoT is also attempting to embark on the construction of the third runway, which was originally part of the phase 2 expansion. It was subsequently detached following a series of trouble which hit the current two runways including a subsidence of a section of the western runway on July 5.
AoT now expects the physical construction of the third runway, 4,000 metres in length, paved with 73-cm-thick bitumen, and runs in parallel to Kingkaew Road, would be up and running just about the same as time as the completion of phase 2.
The undertaking is estimated to cost up to 13 billion baht, 7.8 billion baht of which would go toward compensating some 4,000 households affected by the construction, while the building cost itself is around 3.6 billion baht.
The Suvarnabhumi chief conceded that the third runway may not provide much of the relief to Suvarnabhumi's congestion, but will smooth traffic movements when the existing two runways go into maintenance.
According to " The Nation" we will be seeing a rise in new houie and condo projects:
Home-builders' costs are expected to increase by 5-10 per cent in the final quarter of the year because of rises in the cost of construction materials and labour.
Home Builder Association president Dr Patchara Tantayanyong said home-construction companies would maintain current residential prices until the end of the ninth "Home Builder" exposition that will run from August 23-26 at the Plenary Hall, Queen Sirikit National Convention Centre.She said the demand to build homes had recovered after last year's flood and would drive market growth of least 5 per cent this year. The Home Builder 2012 expo targets new contracts worth Bt3.3 billion from the four-day event, up 15 per cent from Bt2.9 billion at last year's expo.
The association also expects 15-20 per cent more visitors this year, totalling between 50,000 and 70,000, as buyers are eager to build before prices go up.
To boost the number of visitors at this event, Home Builder 2012 will coincide with Home Buyer Expo 2012, a leading consumer show for detached houses, townhouses and condominiums, NPA Grand Sale 2012 organised by the Housing Finance Association, and Home Loan 2012, a consumer finance show - all of which are expected to draw a good number of well-informed visitors to the venue.
Meanwhile, the association will partner with the Iron and Steel Institute of Thailand and the de-partment of innovation in real estate development, faculty of architecture and planning, Thammasat University, to highlight the "Across the Line" concept. They will showcase the latest in home construction and design innovations and outlook as well as play host to more than 40 leading home-builders and building-material suppliers.
9/8/2012
New Master Plan for Tourism in Thailand??
Found this article in the Bangkok Post this morning, thought it may be interesting to those that were wondering just which tourism in Thailand was going:
The Tourism and Sports Ministry will push forward the tourism master plan after the Office of the Prime Minister approves it.
It is expected the master plan will be a key factor driving tourism revenue to the government's target of 2 trillion baht by 2015.
There are six action plans under the supervision and cooperation of the Tourism Authority of Thailand (TAT), the Thailand Convention and Exhibition Bureau (TCEB), the Tourism Department, the ministry's permanent secretary and the Royal Thai Air Force.
Suwat Sidthilaw, the ministry's permanent secretary, said the action plans will cover marketing campaigns, tourism attractions, logistics, facilities, and products and services.
The TAT and TCEB have proposed 28 projects to help the tourism industry such as the Five Region Thai Travel Promotion and the Chao Nai Pai Tiew project.
Supol Sripan, the Tourism Department's director-general, said it will instal tourism signs and routes around tourism attractions.
The department assigned its provincial offices to survey tourism sites that have insufficient signage and expects to install them next January.
The department is also studying world-class theme parks at the request of the private sector, with the goal of building new man-made tourism sites to attract tourists.
Mr Suwat said the tourism development plan is under way for 29 sites in 18 provinces and is scheduled to be finished tomorrow.
Yesterday, the TCEB announced its plan to aid the Thai Mice (meeting, incentive, convention and exhibition) industry's leadership in Asia. Based on the continuing success of its Green Meeting initiative in Asia, Thailand aims to extend the approach with Sustainability Thailand as the next strategic goal.
The TCEB introduced the new ISO 20121 standard (event sustainability management system), which recently made its global debut at the London 2012 Olympics. Thailand will be the second country to implement the standard for the Mice industry after the UK.
Developers scramble as demand for condos remains
26/7/2012
25/7/2012
Pattaya Mayor Implements Four Main Strategies to Improve the City
Pattaya Mayor Itthiphol Kunplome has begun to work on the four strategies to improve Pattaya which he mentioned in his recent election campaign. I found this article in the Pattaya Times. I do like the "KISS" strategy but still seems there is more work to be done. You can check out the article here
25/7/2012
Our last blog post had some very positive quotes from "The Nation" regarding Thailands Condo Craze! But ifyou're wondering just how that will affect the Pattaya - Jomtien area this article was printed just days earlier in the same paper targeting Pattaya and Jomtien Specifically...Looks like this bubble is not going to pop anytime soon, making The Eastern Seaboard and Thailand as a whole still a stable investment. Read more
24/7/2012
In Thailand it is no secret that the condo market has been growing like wildfire. People have been saying -- especially here in Pattaya -- that the market is over built. In fact that has been more than a whisper for over 5 years now as developments continue to pop up everywhere you look....but they do continue to sell and sell well. Check out what "The Nation" had to say about the overall Condo market here in Thailand...Read more
Saw this artice in the Pattaya Mail regarding the upcoming Real Estate Seminar and wanted to pass it along:
Real Estate Seminar - 8 August 2012 Eastern Grand Palace Hotel, Soi Khaotalo, Pattaya
REBA-ES and the Agency for Real Estate Affairs proudly present a Seminar on the recently surveyed Pattaya property market.
The survey was conducted by Dr. Sophon Pornchokchai, PhD, D.FIABCI, CRS, MRICS.
Gain a better understanding of the up-to-date market position as recently surveyed for investment purposes with:
An in-depth analysis of residential properties including single houses, duplexes, townhouses, shophouses, condominiums and land plots by eight price ranges.
A most comprehensive survey covering 650 projects; whereas, 250 projects are in Pattaya City, 330 projects are in another six urban centres in Chonburi and 70 projects are in another three urban centres in Rayong.
The most updated survey for Pattaya (July 2012) and other local urban areas (March 2012).
Reported by Dr. Sopon Pornchokchai, PhD D.FIABCI CRS MRICS, president, Agency for Real Estate Affairs (www.area.co.th) which is the first and largest real estate information, valuation and research conducted in Thailand since 1994, together with a panel discussion by renowned major real estate professionals with expertise on the Pattaya market.
The Program
12:00 Registration13:00 Opening speech and keynote address by Mayor Itthiphol Kunplome
Introduction by the president of the Real Estate Brokers Association Pattaya (REBA Eastern Seaboard)
13:45 Presentation: Major Findings, Pattaya Property Markets and Outlook, Dr. Sopon Pornchokchai, PhD D.FIABCI CRS MRICS
15:00 Afternoon Refreshment
15:20 Panel Discussion: Pattaya Property Outlook, 2012-2013
(Panel participants yet to be confirmed - a developer, a broker and a government officer)
Introduction by: Mrs. May Watson, president, REBA Eastern Seaboard
17:00 End of the session.
The Organizers
Real Estate Broker Association Eastern Seaboard: www.rebaes.com is an association of brokers and agents in the Eastern Seaboard region of Thailand. It was founded in 2006 with individual and corporate members. Within the association, there are also sub-committees to help uplift the professional practices of members to always have better professional services to consumers.Agency for Real Estate Affairs www.area.co.th is a property consultant firm as well as real estate information, research and valuation centre in Thailand. It specializes in real estate consultancy services while refraining from real estate brokerage and self-interest property developments to avert a potential conflict of interest; thereby insures the integrity of our valuations and research works.
The Research Team Leader
Dr. Sopon Pornchokchai PhD D.FIABCI CRS MRICS, is a research team leader for Pattaya and the Eastern Seaboard as well as the speaker to present the research findings. He earned a PhD in land and housing from the Asian Institute of Technology, a Certificate in Housing from Katholieke Universiet Leuven and a Certificate in Valuation from LRTI Lincoln Institute of Land Policy. He has been conducting market research in Pattaya and Nationwide for over 20 years.Fee
Participation: 850 baht per person including handouts and refreshment.Comprehensive research paper: 4,000 baht per copy.
Fees can be paid to any REBA-ES member or direct to the Agency for Real Estate Affairs http://www.trebs.ac.th/English/SUMMARY/seminar_pattaya.php
I just flew in this afternoon. I was a bit concerned there would be delays after all the much publicised problems of ole Swampys runways. We experienced about a 10 minute delay but most of that seen\med to havestemmed from Qatar Airways problems inh Lagos and getting passengers and baggage routed acordingly. I arived ok but still waiting on my bag. Check out this article i found from Thai Visa.com's posting from The Nation.
BANGKOK: -- Flight congestion at Suvarnabhumi Airport will ease after the eastern runway returned to service at 11am yesterday for all types of planes except A380 super jumbos.
Anirut Thanomkulbutra, president of Airports of Thailand, said the repaving of the 870-metre northern tarmac of the eastern runway from Sections B6-B3 has been completed.
This was the first phase of the project to resurface the 1,620-metre northern section of the 4,000-metre eastern runway from June 11-August 9.
The eastern runway now has 3,250 metres for use.
The remaining 750 metres from Section B3 to the start of the runway would be ready on July 31, ahead of schedule. The repairing of the runway was only one of the factors that caused flight delays. About 23 per cent of 800 flights that took off and landed at Suvarnabhu-mi a day were held up for more than 15 minutes, he added.
Prajak Sajjasopon, president of the Aeronautical Radio of Thailand, said Suvarnabhumi was coping with peak traffic of 76 flights per hour before the runway was overlaid, but a limit of 68 flights per hour was enforced out of concern for noise pollution.
But during the work on the runway, the airport could handle only 37 flights per hour while 45-50 aircraft were arriving, leading to waits of 15 minutes to one hour and 20 minutes before touching down.
The situation would improve now that the first phase was done. Each flight would not be circling more than 30 minutes, he said.
Meanwhile, Suvarnabhumi Airport has seen its ranking among global airports slide from 13th in 2011 to the 25th in Skytrax's World's Best Airport Awards 2012. In the category of airports that accommodate 30 million to 50 million passengers per annum, it is ranked 10th, with Incheon International Airport in Korea holding the first ranking in both categories.
Ranked the world's second best airport, Changi Airport in Singapore is also expanding its capacity. It welcomed 20.6 million visitors in the first five months of the year and has been the most active in terms of tourist arrivals in Southeast Asia.
Changi may build two new passenger terminals at Changi Airport to cope with increasing demand. Bloomberg reported that the government plans to add 1,000 hectares to Changi, from 1,350 now. The airport started the 2036 Changi steering committee to cope with the traffic demand in the next 50 years, according to a fact sheet from the Ministry of Transport in March.
"Leading air hubs worldwide are upping their game, and are taking a long-term perspective to capacity building," it said in the fact sheet, citing expansion plans in markets like Hong Kong, South Korea and Dubai.
-- The Nation 2012-07-19
International arrivals to Thailand to remain strong
Bangkok, July 05, 2012 – The global economy slowdown has had little impact on tourist arrivals to Thailand. The Kingdom had a total of 8,871,930 visitor arrivals for the period of January through May 2012, up 7.27% compared to the same period in 2011. China was the best performer with 943,161 visitors, up 26.13% with the largest market share for an individual country of 10.63%.
The overall growth remains strong for Thai tourism with visitor arrivals to Thailand from all European countries of 2,690,783, a 10.9% increase for the period January through May 2012, according to the latest figures released by the Ministry of Tourism and Sports. European countries, even with the Eurozone crisis, accounted for a market share of 30.33%, up from 29.33% for the same period in 2011. Read more...
The overall growth remains strong for Thai tourism with visitor arrivals to Thailand from all European countries of 2,690,783, a 10.9% increase for the period January through May 2012, according to the latest figures released by the Ministry of Tourism and Sports. European countries, even with the Eurozone crisis, accounted for a market share of 30.33%, up from 29.33% for the same period in 2011. Read more...
1.1 Billion Baht Water park coming to Pattaya
For years and years Pattaya Park has been...well, the only game in town. Well all that is going to change. Coming around April of next year will be the brand new 1.1 Billion baht Ramayana Water park just a few KM outside of Pattaya. With over a dozen rides and two wave pools in addition to many relax zones and live entertainment Ramayana Water park is taking things to a whole new level.
This is from their website:
With leading Thailand contractors appointed to perform constructiobn, the waterpark will have newest and most exciting waterslides available that will offer thrills for adults & teenagers and hours of fun for small children. This world class entertainment facility will offer a full day of fun and long lasting memories for families and friends. As Thailand's fisrt international standard waterpark and the creative spirit of the assembled team, Ramayana Water Park will be the largest and most attractive waterpark in South East Asia.
Enjoy,
2 Billion baht Condo project coming to Pratumnak Hill
The Kingdom Property Group LTD is is in the final stages of beginning its 2 billion dollar condo project in Pattaya's exclusive Pratumnak Hill. The Unit will be called "South Point" and will feature studio, 1 Bedroom, 2 bedroom, and Three Bedroom units. Prices will be starting at around 1.5 MB. See More...
Thailands 90 day check in rule...mail it in!!
The fine for failure to file the 90-day report on time is up to 2,000 baht set at the discretion of immigration officer who discovers the fact. You are NOT charged with an Overstay for failure to file the report on time unless you overstay your visa.
Police Colonel Chusak summoned Police Lieutenant Jakkid Kidmeekiatdee who is in charge of all 90-Day reporting for the Chonburi Immigration offices located in Pattaya, Sriracha and Koh Srichang.
Here are the steps to take every 90-days to avoid having to go in person to the Immigration office to report your address: Read more...
Police Colonel Chusak summoned Police Lieutenant Jakkid Kidmeekiatdee who is in charge of all 90-Day reporting for the Chonburi Immigration offices located in Pattaya, Sriracha and Koh Srichang.
Here are the steps to take every 90-days to avoid having to go in person to the Immigration office to report your address: Read more...
Pattaya on course to see record numbers!!
• Pattaya is on track to accommodate a record 8 million hotel guests this year, the highest-ever for a Thai resort destination, as improvements in the domestic market and infrastructure boost demand, says a hotel industry report.
C9 Hotelworks, the hospitality consulting firm, recently released a report highlighting a 66% hotel occupancy rate for the Eastern Seaboard city last year.
The report stated in 2010 and 2011, occupancy rose by 17% and 9%, respectively. Visitors to the region doubled in 2010 despite fallout from the financial crisis and political turmoil.
Bill Barnett, managing director of the Phuket-based firm, attributed Pattaya's rise to solid infrastructure, a strengthening domestic market, international brands and changing perceptions of the city.
"If you visit Pattaya, you're sitting next to the country's capital with an established tourism market. It's the yin to Bangkok's yang," he said.
Infrastructure is the most important factor, said Mr Barnett. The proliferation of low-cost flights and improved toll roads to the area has made Pattaya an ideal weekend getaway for Thais, who account for a quarter of the market there.
Pattaya has clearly eclipsed Hua Hin as a weekend destination, he said while joking that the hour-and-a-half drive to the former sometimes matches the time it takes to cross Bangkok.
The report shows the international tourism market has flourished as well.
Russian and Chinese tourists flocked to Pattaya last year, and the Civil Aviation Department said total arrivals at the nearby U-tapao airport rose by 39% from 2010.
Chinese, Russians and Thais together accounted for nearly 60% of all Pattaya visitors in 2011.
But Pattaya is not all tourism. The second-best property market in Thailand is reaping the fruit of the nearby auto-manufacturing sector.
In terms of a second business district outside of Bangkok, the Eastern Seaboard is developing, and Pattaya is benefiting from that, said Mr Barnett, adding that 60% of the occupancy at the Holiday Inn Pattaya is from corporate functions.
He said the rise of brand-name hotels and megaprojects will help, while the Cartoon Network will open a 1-billion-baht theme water park early next year.
These big demand generators will make the market sustainable.
Mr Barnett, who has worked in the Asian tourism industry for 27 years, said investors are stuck in the past, as investor sentiment has not kept up with market realities.
The real estate market is hot, and there is no oversupply of hotel rooms in the pipeline, signifying well-balanced growth.
"As long as the Thai middle class is growing strong, Pattaya isn't going anywhere," said Mr Barnett.
Online visa application on the cards:
The Foreign Ministry has agreed in principle to allow tourists from some countries to submit their visa applications online.
The proposal by the Tourism Council of Thailand (TCT) is being considered, as the ministry wants to help alleviate the crowds and long lines of tourists wanting a visa on arrival at Suvarnabhumi airport. Read more...
The proposal by the Tourism Council of Thailand (TCT) is being considered, as the ministry wants to help alleviate the crowds and long lines of tourists wanting a visa on arrival at Suvarnabhumi airport. Read more...
No comments:
Post a Comment