PROPERTY BANGKOK REPORT APRIL 2009:

The housing situation in Thailand is looking bleak for homeowners who are paying mortgages off. More jobs are going and unemployment is starting to increase. The government has helped the workers by their 200baht per each social welfare worker fund but this is only a temporary measure. The Red shirts of Thaksin are mobilizing to upset the Country even more so the country could find themselves in more of a mess. Is it a good time to buy---only if you have adequate funds and buy a condo but do your homework first.

IS PROPERTY STILL A GOOD INVESTMENT IN BANGKOK AND THAILAND?

Developers get creative to woo buyers
Bangkok Post Mar 18, 2009

Property developers are wooing cautious buyers with marketing gimmicks usually associated with consumer products, such as a one-price policy, member-get-member or buy two, pay for one. Number One Housing Development Co, a developer well-known in the eastern part of Bangkok, is promoting its flagship Blue Lagoon project in Bang Na offering one price of 6.99 million baht per unit on plots sized between 76 and 112 square wah. The company has 49 units to offer under the campaign that will expire at the end of April and it already has 70 million baht in sales for the last phase of Blue Lagoon, which has a total of 249 units. The company has recorded 60% sales for earlier phases and expects to close sales for the whole project by end of 2010.

Number One will next month launch the H2O townhome project in the same location, offering 71 units of three to four storeys on plots of 26-55 square wah and prices from 3.89 million baht. It expects flat growth overall for sales this year with a target of 700 million baht.

Casa Ville Co, a subsidiary of Quality Houses Plc, also offers a single price of 7.5 million baht for a few selected units of its prebuilt single houses on lots of 60 to 140 square wah, in the 1.5-billion-baht Casa Grand Ekamai-Rarm Intra project. Purchase contracts must be signed before the end of this month. Chewathai Co, the developer of the 1.3-billion-baht Chewathai Ratchaprarop, is staging a member-get-member campaign offering 30,000 to 150,000 baht in cash to customers who can draw new buyers before the end of this month. The condominium developer Grand Unity Development Co, now developing U Sabai Rama IV-Kluay Nam Thai, offers a ''buy two, pay only one'' campaign for its two-bedroom units sized around 70 sq m and costing 3.89 million baht until the end of March. The company says that for this amount of money, buyers would get two bedrooms compared with only one bedroom from other neighbouring buildings.

.LAND AREAS: 1 rai = 4 ngarn = 400 wah2 = 1600 m2; 1 talang wah = wah2 = 4 m2; 1 acre = 2.53 rai & 1 ha = 6.25 rai 
To date foreigners may own

Beware as its not the first time when foreign Business partners have been cheated by Thai partners. It has happened a lot. Never have a limited Partnership in Thailand and make sure the Lawyer you use is straight and unbiased towards you? Go to www.chiangmailaw.com for any help or www.thaiexpatlaw.com

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