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More entertainment zones mapped out

Legacy Phuket Gazette

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More entertainment zones mapped out | The Thaiger

PHUKET: Muang and Thalang Districts have mapped out the areas in which they propose to have entertainment zones. These areas must be specified in order to meet the requirements of proposed new legislation governing the entertainment industry. In a paper released yesterday, Vice-Governor Amnuay Sanguannam explained that the Muang District plan includes 13 separate entertainment zones – one in Tambon Taladyai, three in Tambon Rassada, two in Chalong, four in Karon and one each in Wichit, Koh Kaew and Rawai. Details of the proposed zones are as follows: – Taladyai: An area stretching 700 meters south from Surin Rd, Soi 2, across Soi 3 and Sri Sena Rd, almost to the waterfront. – Rassada: Along Rassadanusorn Rd from the Thepkrasattri Rd intersection to the Ruam Pattana intersection, stretching 50 meters out from either side of the road. Sri Suthat Rd, from the Phuket Town limit to the entrance of Phuket Housing Project 1, and stretching 50 meters out from either side of the road. Sri Sena Rd, from the Phuket Town limit to the Fishing Port, and 500 meters along the road to the Rassada Port, stretching 50 meters out from either side of the road. – Wichit: From the Phuket Town limit, south along Sakdidet Rd until the intersection with Phattana Thongtin Rd, and stretching 50 meters out from either side of the road. – Rawai: along the road toward Kata for 1,500 meters and from the circle to Chalong pier, in both cases, stretching 50 meters to the south of the road. – Chalong: from Chalong circle along the road toward Kata for 1,500 meters and from the circle to Chalong pier, in both cases, stretching 50 meters to the north of the road. (Note: the border between Chalong and Rawai runs along the middle of the road, so this forms one entertainment zone with the Rawai zone, above.) Along Chao Fa Nai Rd from the tambon limits, south 1,200 meters, and stretching 50 meters out from either side of the road. – Kata-Karon: Patak Rd East, from Wat Suwannaket to the Karon Circle, and stretching 100 meters out from either side of the road. Luang Por Chuan Rd, stretching 100 meters out from either side of the road. Tai Na Rd, stretching 100 meters out from either side of the road. Within a radius of 100 meters of the Kata Center intersection. – Koh Kaew: Chalermprakiat Ror XI Rd (the bypass road), for a distance of 1.2 kms from the intersection with Thepkrasattri Rd, and stretching 50 meters out from either side of the road. In Thalang, 11 entertainment zones are proposed. These are as follows: – Sri Soonthorn: On Highway 4027 (the road towards Pa Khlok from the Heroines’ Monument), from the entrance of the Thalang National Museum to the tambon limit, and stretching out 50 meters on either side of the road. On Highway 4025 (the road to Cherng Talay), from the Baan Bang Jo intersection in Baan Manik, stretching 500 meters along the road, and 50 meters out on either side. – Thepkrasattri: from the 20-km stone on Thepkrasattri Rd to the airport turn-off, and stretching out 50 meters from the road on either side. Both sides of Thepkrasattri Rd from the tambon border (just north of the old airport road), stretching 2 kms to the south. – Sakoo: from the intersection of Highway 4031 (the new airport road) with the road to Nai Thon, stretching 700 meters to the east and 50 meters either side of the road. – Cherng Talay: from the entry to Surin Beach, along the road to Cherng Talay for 1 km, and stretching 50 meters out from either side of the road. From the end of the Tah Yang bridge on Highway 4030, stretching 1 km west along Klong Saneh Poh, and stretching 50 meters south of the road. From the Baan Layan Sala, 1 km south along the Kocktanod-Layan road, and stretching 50 meters out from either side of the road. – Pa Klock: Along the shoreline at Baan Ao Por, and stretching 50 meters inland. – Mai Khao: From 300 meters north of Baan Mai Khao School, stretching 700 meters to the north along the Baan Mai Khao-Suan Maprao road, and stretching 50 meters out from the east side of the road. From 300 meters south of Baan Mai Khao School to the southern limit of Baan Suan Maphrao, and stretching 50 meters out from the east side of the road. Kathu District, which includes Patong, submitted its planned zones on June 5. Details may be found at https://thethaiger.com/news/index.asp?Id=1475 For further details or clarification, contact the Phuket Town and Country Planning Office at 223799 or 223756.



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Krabi

Tsunami advisory for Andaman Coast – all clear

The Thaiger

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Tsunami advisory for Andaman Coast – all clear | The Thaiger

An advisory was sent out last night about two earth tremors registering 5.0 and 5.2 magnitude centered on the Andaman Islands, 620 kilometres north west of Phuket.

The National Disaster Warning Centre sent out an advisory to Governors of six Andaman Coast provinces to be on alert for tsunami warnings and more earthquake activity.

There has been no tsunami activity registered along the Andaman coastlines.

Tsunami advisory for Andaman Coast - all clear | News by The Thaiger

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Bangkok

Top Five things to consider if you’re buying a condo in Thailand

The Thaiger

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Top Five things to consider if you’re buying a condo in Thailand | The Thaiger

Not quite a Top Ten but some good straight-talking about buying condominiums in Thailand from Desmond Hughes from Hughes Krupica

One of the most commonly read or spoken summary of foreign ownership of property in Thailand is along the lines of

“Foreigners can buy a foreign freehold condominium in their name”.

At this sentence, many foreign investors switch off, and assume that the rest of the detail provided by the author may be legal mumbo jumbo or a thinly veiled attempt to win their business.

In fact, there is quite a lot you should know about Thai condominiums, before you start property hunting. As my clients don’t generally spend their time reading legal journals and legislation unless they have to, I have set out a mixture of legal and practical matters below without much distinction:

1. Only 49% of the Registrable Area of a condominium can be sold to foreigners.

In Bangkok, this is not likely to have any impact on you. Most of the buyers and owners of condominiums in Bangkok are Thai nationals. Even in condominiums popular with foreigners, it is an uncommon phenomena that foreigners would ever outnumber Thais as owners in a building. You might ask why the rule even exists, but there is a fear and protectionism in many Asian countries, not just Thailand, to try and keep foreigners ‘controlled’ through numbers and perecentages.

In other places – Phuket; Pattaya; Koh Samui; Chiang Mai and Hua Hin particularly you should apply caution to ensuring that the correct ‘quota’ of foreign units is available to be sold to you on a freehold basis.

2. Banks often advertise they will give finance, even potentially to foreigners, but in the end – don’t

I speak from personal experience and from that of my clients. For my first condo investment in Bangkok, I had to take out a loan with HSBC which was then taken over by a Thai bank. My loan had to be in foreign currency, because in order to buy a foreign freehold condominium – you have to send foreign currency into Thailand from overseas to generate ‘foreign exchange transaction forms’ to register the title to a foreigner at the land office. This means a lot of hoops for a bank to jump through simply to provide a mortgage. Foreigners are also viewed as flight risks by Thai banks and they do not wish to spend their time chasing foreign assets. This all means that a very high percentage of the foreign buyer market is cash based, which is good for the stability of that part of the condo market.

If you are tempted to try and take out finance applications to banks, be aware that the banks are looking for you to have some business in Thailand; perhaps to be married to a Thai national who preferable from the bank’s perspective will have some degree of wealth for self-support; and that you have other assets in Thailand with a history of using and paying off credit such as credit cards.

3. There is an oversupply of condominiums in Bangkok at the moment and rental yields are traditionally low in terms of % compared to more expensive Asian neighbors – Hong Kong and Singapore, and further afield

A condo in a prime rentable area at a high investment price can remain rentable due to its extremely useful location and amenities. If such condo has a 24 hour supermarket in the basement of the retail area and dozens of restaurants, as a condo building I am thinking of does have such amenities, then it will remain rentable for some time if the property is maintained. However, another condo at the end of the same ‘Soi’ and post building and delivery could remain unrented after many months and even if the rent is cut to 50% of the market price. Don’t just take my word for the state of the market for condo rentals in Bangkok, ask the agents.

In addition to this, the authorities are taking a closer eye at tax declarations and ‘cracking down’ on undeclared taxes – not just personal income tax, but the ‘business tax’ of 12.5% for renting units out. This all adds to the costs of investing and renting in a condo, and you must calculate this into your budget and forecasts to avoid living in fantasy land about dream returns.

3. You won’t have any say in how the condominium is managed

Unless you buy up over half of the voting rights attached to units in the entire building, you will be a minority voice on issues like the raising of the common area fees; use of the ‘sinking fund’ – the fund to make capital repairs, changes to the rules and regulations and general maintenance decisions, even of some significance. Don’t imagine standing up at an co-owners meeting voicing your opinions and somehow making headway in ‘changing’ the direction of the management of a building. The way in which a building is managed boils down to how the developer has structured ownership, whether the developer retains many units and a large % of the voting rights or not, and whether the developer plans to self-manage or outsource management of the asset to a reputable or not-so-reputable management company.

If you don’t check the management plan then I can reference lots of analogous situations where you would take more care – if you buy a car, you should think if there are any decent repair centres nearby and at a reasonable price – Ferraris in Phuket aren’t currently easy to maintain, I would imagine, as a non-Ferrari owner and observer of the state and condition of the roads in that Province. You also wouldn’t, I hope, buy a smart phone without knowing you could have the phone service, fixed and various parts replaced on reasonably short notice. As a property is a far higher value of investment, a lot of investigation into the management plan is necessary.

4. Don’t Believe the Hype – It’s a Sequel

False Media, we don’t need it do we? If you see a glossy marketing brochure and are told that the developer ‘has to deliver on its promises by law’ – be wary. To take one example, I bought a condo under which a ‘private wine cellar area with personal secure wine bottle storage space’ would be provided to every buyer. Amazingly, without any shame at all, the famous developer constructed an unchilled cheap wooden cabinet with glass doors, no locks next to 4 sofa chairs in the open space corridor between a swimming pool and the gym. If you wanted to fry an egg on the ‘wine cabinet’ then that was highly likely to have been possible.

These kind of things are not all ‘horror stories’ – I actually got a decent condo notwithstanding the missing items. However, you will often have to compromise when in more highly regulated and supervised jurisdictions, you would not. Compromise is a very common work in Thai society and it applies to business and consumer purchases too.

5. Set up your ownership for easy re-sale

If you are buying a condo as a ‘foreigner’ and paying cash, then you can buy your condo through a foreign company, and sell the company later. This is only worth doing if the cost of setting up and maintaining the foreign company is reasonable and the company you set up is ‘saleable’ and attractive to others. You should not carry out this kind of structuring to ‘avoid tax’. However, you can set up this kind of structure, pay tax on the purchase, and subsequently deal with your company as you see fit, provided a buyer is willing to buy it. If such a company receives rental income, then even if it is foreign it is till liable to taxes as the use of the ‘immoveable property’ for generating revenue isn’t deemed to be ‘outside’ of Thailand, and that applies even if the company tries to contract for and receive the rent outside of Thailand.

Desmond Hughes has operated and owned 2 law firms in Asia in 14 years spanning Thailand; Vietnam; Indonesia with clients in all of Asia and other markets investing inwards into the region with his existing firm Hughes Krupica possessing a large market shares in its fields of expertise. 

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Phuket

Motorbike driver smashes through glass window after accelerator malfunctions

The Thaiger

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Motorbike driver smashes through glass window after accelerator malfunctions | The Thaiger

A female motorbike driver has sustained injuries after her motorbike’s hand grip malfunctioned and she collided with a glass wall. Chalong Police were notified of the incident at an air conditioning shop at 6pm yesterday on Chao Fa West Road in Chalong.

Police and emergency responders arrived and found the shattered glass wall and a damaged motorbike. The injured 40 year old Naowarat Jankarn had already been taken to Chalong Hospital. She sustained injuries from cuts from the broken glass. Pools of blood were found on the floor.

Ms Naowarat told police that she had parked her motorbike in front of the shop since Wednesday . The motorbike was undrivable because the hand grip accelerator was malfunctioning.

Yesterday she started the motorbike, claiming she had forgotten about the broken accelerator.

Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger

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