Off the market

Article Abstract:

Thailand urgently needs foreign capital to help restore its economy. However, foreigners trying to buy property in Thailand have to overcome complex legislation which is designed to dissuade foreigners from buying property. The government does not appear to be making it any easier. Foreign firms have to form joint ventures and hold a minority stake. Only those which take on a 30 year lease can buy 100% of a property. There is also considerable resentment about foreigners trying to take advantage of Thailand's economic problems.

Purchasing, Foreign investments, Economic aspects, Real property

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That sinking feeling

Article Abstract:

Bangkok's property market has stagnated for the past three years, with overall values declining 30% by some estimates, yet new construction continues. In Dec 1994, 21% of office space in the city was vacant, most of it in office condominiums and relatively little in single-owner office buildings. Similarly, the residential supply in 1994 passed 300,000 units, with only 130,000 wanted. Prime office space in excellent locations does continue to fill up, and terrible downtown traffic buoys the market there.

Building, Developing, and General Contracting, GENERAL BUILDING CONTRACTORS, New Private Construction, Construction industry, Construction, Buildings and facilities, Bangkok, Thailand (City)

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Sites for sore eyes

Article Abstract:

The property market in Thailand has been in decline since 1991 and there appears to be no hope of an upturn before the beginning of the 21st century.Work has slowed or stopped on many of the high-rise projects in Bangkok. The boom of the late 1980s led to oversupply in all sectors of the property market, and especially in Bangkok. Overseas investors are interested in the situation, but they have been discouraged during 1997 by the baht's problems. They appear to be waiting for a further drop in prices.

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