Connect with us

Property

Trang: Southern Thailand’s rising star

The Thaiger

Published

on

Trang: Southern Thailand’s rising star | The Thaiger

As real estate in the markets of Phuket, Phang Nga and Krabi increasingly becomes unattractive to investors and speculators due to rapid appreciation and the lack of new land coming up for sale, markets in other southern Thai provinces are beginning to bud.

Trang is one such market that speculators would be wise not to ignore.

The President of the Agency for Real Estate Affairs Company Limited (AREA), Dr Sopon Pornchokchai PhD, has championed the province and makes some valuable observations.

Due to its ideal location along Thailand’s Andaman seaboard, Trang has a high potential to develop into a regional centre for property development and tourism.

Total area that has been requested for development grew by 24% in 2012 and has shown steady, positive growth around the same figure each year since, Dr Sopon said.

Trang: Southern Thailand's rising star | News by The Thaiger

Although revenues from the province’s agriculture sector have been in decline, due mainly to the value of rubber and palm commodities plummeting in the global market, the real estate market should not be directly impacted, Dr Sopon insists.

Dr Sopon said that there are no indications that the property market in Trang is at risk of being flooded, since it is still in the infant stages of what appears to be a promising boom.

Dr Sophon says that Trang Airport, spanning 1,659 rai and located 8 kilometers or a 15-minute drive to the south of Trang Town, in the Tung Nang sub district, is an important factor in stimulating Trang’s development and economic potential.

Although Thai Airways abandoned the destination, Nok Air, Lion Air and Air Asia are still providing flights to/from the province, which has proved a boon for the local tourism industry.

Trang: Southern Thailand's rising star | News by The Thaiger

The expansion plan for Trang’s airport includes a new passenger terminal with work starting last year and to be completed next year with an estimated budget of 720 million baht,

Passenger traffic through Trang Airport is expected to exceed a million passengers next year. In 2007 the airport handled 104,000 passengers.

Given continued expansion and growth in infrastructure, tourism and education, and expected increased revenues from the agricultural sector and diversification of other industries, the real estate sector in Trang is poised to prosper, Dr Sophon concluded.

Find your dream home or list your property for sale at property.thethaiger.com


Find more property for sale and rent across Thailand at Thaiger Property, powered by FazWaz. You can even list your property for free.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Bangkok

Calls to restrict foreign property purchases in Bangkok

The Thaiger

Published

on

Calls to restrict foreign property purchases in Bangkok | The Thaiger

Dr. Sopon Pornchockchai, the President of the Thailand Agency for Real Estate Affairs, is calling for controls to restrict foreign property buyers.

Thailandproperty.news is reporting than he is justifying his comments saying the growth in income of Thais is slower than the property price rises being pushed up by high foreign demand.

“Some measures should be adopted, such as higher stamp duty for foreigners,” he said.

The article says that this is the first time an industry figure has spoken out about the need to restrict or reduce the amount of foreign investment in the Bangkok property market. Dr. Sopom says he believes that foreign buyers account for around 20 percent of all Bangkok property purchases.

He noted that Chinese purchases account for about 80 percent of foreign buyers.

Read the original story HERE.

Continue Reading

Property

Goodbye – Evicting a tenant in Thailand

Robert Virasin

Published

on

Goodbye – Evicting a tenant in Thailand | The Thaiger

It’s a goal for many people to become a landlord. They purchase property for the purpose of renting it out for passive income. The property owner interviews prospective tenants and ensures that they sign a lease agreement and put down a deposit. However, all of this doesn’t prevent bad tenants from revealing themselves after they have moved into the property – all the smiles can disappear once they get the keys.

There are several possibilities. The tenant may stop paying the rent, the tenant may not maintain the property or theymay violate the terms of the lease, such as allowing multiple families to move in or allowing pets to live in the home.

So what does the landlord do and what are your rights?

The first thing the landlord needs to do is to review the lease agreement. The lease agreement generally contains the terms by which the tenant agreed to abide. A properly prepared lease should contain the grounds for termination of the lease and the notice requirements for eviction, if the tenant does not respond to the notice.

It is also important to review the length of the lease agreement. If the end of the lease term is near, it might be easier to just send a notice to the tenant that the lease is not going to be renewed and the tenant will be required to leave the premises at the end of the contract.

There are many foreign nationals who lease property on a 30 year lease. One of the important elements of a 30 year lease is that it must be filed with the local land office. Under Section 528 of the Thai Civil and Commercial Code, if the lease agreement is not in writing, signed and registered with a ‘competent official’, then it is not valid for more than three years or the life of the parties.

After the end of the lease period, the lease agreement is generally extended for an indefinite period. This allows any of the parties to provide notice of termination of the lease with a minimum of one rent term or maximum of two months notice. If the tenant refuses to leave the property, the landlord can file a lawsuit against him.

If the landlord is able to establish in court that the tenant violated the terms of the lease agreement and that the landlord abided by the legal requirements for eviction, the court will rule in favor of the landlord, unless there are extenuating circumstances. If the tenant refuses to abide by the order of the court, the landlord can request an enforcement of the judgment.

The landlord can then request that police remove the tenant from the premises. They can also terminate electrical and water services to the property. It is important to note that the landlord cannot enter the property, remove the tenant’s belongings or change the locks on the door, unless it is allowed within the lease agreement, or with a court order.

During the entire legal process, the landlord can file a claim for the rental costs and opportunity costs as a result of the tenant refusing to leave the premises.

Leasing property is a popular way to obtain passive income or to pay for mortgaged property. However, as with any type of income-generating business, there are risks, especially in a foreign country. For landlords, there is the possibility of renting to tenants who do not maintain the property, violate the rules of the lease agreement or stop paying the rent.

The legal process for evicting tenants is painstaking and can take many months. It is important to scrutinise potential tenants and check their rental history and current financial status prior to entering into a long-term lease agreement.

Additional reporting by Yutthachai Sangsirisap.

Continue Reading

Koh Samui

Stunning new Lux Neo project at Chaweng, Koh Samui

The Thaiger

Published

on

Stunning new Lux Neo project at Chaweng, Koh Samui | The Thaiger

Sun, sea, new, views, pool villa, Samui. All the words you want to hear.

Lux Neo is now available, combining stunning sea views and outstanding modern design. Lux Neo is the newest award winning project by the “Neo” team with critiqued unique villa design and award winning styling. Click HERE to read more about the Neo design team and some of their other award-winning projects.

Stunning new Lux Neo project at Chaweng, Koh Samui | News by The Thaiger

This magnificent site offers a unique combination for in Thailand – inspired design, value, astonishing views and quality. Designer two or three bedroom villas are now available with sea views to Chaweng Noi and just minutes to the main attractions, beaches, shops, airport and the main Chaweng shopping and beach areas.

The “Lux” location is 18 Rai of premium Chaweng Noi sea view land with “Neo” being a private 12 plot residential development featuring the uniquely inspired villa style. The highly desirable location of Chaweng Noi is just 1 kilometre away from some of Koh Samui’s best beaches and restaurants.

Stunning new Lux Neo project at Chaweng, Koh Samui | News by The Thaiger

These luxuriously designed spaces include vaulted double height ceilings, mezzanine floors, large open airy spaces, modern terrazzo bathrooms and mezzanine bedrooms – all with breathtaking views of Koh Samui offering unparalleled design with nothing else like it in South East Asia.

Prices start from 8.8 million baht for the 2 bedroom villas ranging up to 12.5 million baht for the 3 bedroom villas.

Read more about the details of this stunning Samui development or make enquiries HERE. You will be able to find out a lot more information as well as compare the new Lux Neo to other projects in the area.

Find out more about Samui HERE.

Stunning new Lux Neo project at Chaweng, Koh Samui | News by The Thaiger

Go to property.thethaiger.com when you want to search for Thailand’s largest selection of properties.

Continue Reading

The Thaiger Newsletter

Keep up with all the day’s news. Subscribe here.

The latest news and information from Thailand.

* indicates required

Trending