Cb Richard Ellis Thailand Urges Property Buyers Not To Panic

[george]

CB Richard Ellis Thailand urges property buyers not to panic

BANGKOK: -- The Thai branch of international real-estate and property-investment firm CB Richard Ellis has urged foreign property owners and prospective buyers of Thai real estate not to panic or abandon their interest because of proposed changes to the Foreign Business Act.

It says they should focus on foreign quotas for condominium ownership and leasehold properties developed by well-known and established companies.

CB Richard Ellis Thailand managing director Aliwassa Pathnadabutr said the proposed changes might affect large foreign investments in property projects and the construction industry but not private investment in a second home in Thailand.

The company has looked carefully at the "real effect" of the government's proposals in conjunction with major law firms and has considered the psychological affects and the perceptions of both foreign businesses in Thailand and foreign purchasers of Thai property, she said.

The danger of the proposals is that they might be seen as a rejection of foreign investment, with large potential losses for both the real-estate and the construction sectors of the economy. They might also be viewed as poor public relations on the part of Thailand internationally.

Aliwassa said her company's first piece of advice to all clients is that the proposals are not yet law.

Second, a detailed reading of the proposals shows them not to be as harsh as the headlines have presented them. Most businesses that will be redefined as foreign will be largely unaffected and allowed to continue, with time to amend their structure if necessary.

Therefore, she said, most office tenants should not be affected, although demand from incoming tenants might well be reduced.

-- The Nation 2007-01-15

[LivinLOS]

Yeah always good to trust those selling you property for if that properties value will be safe..

[PeaceBlondie]

"Panicking realtors tell the buyers not to panic..."

[teletiger]

Coming out with a statement like this could be construed as "we're worried".

"these proposals are not yet law"........and if they do become law??

Regards

[samtam]

Whilst I agree with what the CBRE MD is saying, it is rather indicative of what the recent measures have done to Thailand, whether intended or not. Sentiment is very fay. Uncertainty spooks the market. CBRE and other real estates agents know this. It's going to be a lean year or two as far as transactions from foreigners are concerned.

[wintermute]

Aliwassa said her company's first piece of advice to all clients is that the proposals are not yet law.

Wow what a relief ..in a more predictable country with a functioning rule of law such statements would be met with serious consideration. However this is Thailand, the land of last minute rule changes and amendments. Look at how they change the visa rules and economic policies on a whim as well. I think ALL big money foreign investors should be extremely wary of this government's policies.

with time to amend their structure if necessary.

heh. This could mean anything and if you were investing a few million into thailand would you TRUST what a government arbitrarly determines is or isn't necessary for your livelihood?

[John K]

Smoke???... I don’t smell smoke. What an interesting phone you have there....

[dee123]

.....RUN .....FOREST..... RUN....oops wrong thread

[percy2]

Keep talking I'm looking forward to the results!

Cheers

[The Skipper]

The writing is on the wall.

Thai property market crashes.

[sriracha john]

CB Richard Ellis Thailand urges property buyers not to panic

CB Richard Ellis Thailand urges property sellers to panic

[xbusman]

So I am in the airplane reading my magazine, enjoying my $3 coke, at about 36,000 feet somewhere over the pacific and one of the stewards comes by and specifically says.... "Dont panic".

I dont know about you but I think its time to put down the magazine and read the little card, identify the exits and make sure the seat belt is secure and tight.

[John K]

Nothing quite like the power of suggestion, however it seems CB Richard Ellis Thailand has not yet mastered it.

[Barney_the_Dinosaur]

Khun Aliwassa is speaking prematurely. Foreigners using nominee structures to buy property do contravene the Land Ownership Laws if they are the ultimate beneficiary.

Whether that law is enforced is another matter, and we have seen countless instances of where Thai law is enforced selectively.

[slimdog]

Leasehold-right extension to 90 years urged for foreigners

The government should extend the leasehold right for foreign buyers of properties in Thailand to 90 years, in conjunction with the proposal to restrict nominee-structured companies from owning landed properties under the Foreign Business Act, according to the international real estate agency CB Richard Ellis (CBRE).

The agency also hopes to see the government increase the ratio of foreign buyers in condominiums to 75% from 49%, said CBRE managing director Aliwassa Pathnadabutr.

Full story: http://www.bangkokpost.com/News/16Jan2007_news02.php

[cclub75]

The government should extend the leasehold right for foreign buyers of properties in Thailand to 90 years, in conjunction with the proposal to restrict nominee-structured companies from owning landed properties under the Foreign Business Act, according to the international real estate agency CB Richard Ellis (CBRE).

The agency also hopes to see the government increase the ratio of foreig

Ah ! At last, some "constructive" propositions...

Better than : "FBA is not yet a law, don't panic"...

[LivinLOS]

CB Richard Ellis Thailand urges property buyers not to panic

CB Richard Ellis Thailand urges property sellers to panic

First real laugh of the day..

Thanks

[sriracha john]

CB Richard Ellis Thailand urges property buyers not to panic

CB Richard Ellis Thailand urges property sellers to panic

First real laugh of the day..

Thanks

* I try *

[John K]

Leasehold-right extension to 90 years urged for foreigners

The government should extend the leasehold right for foreign buyers of properties in Thailand to 90 years, in conjunction with the proposal to restrict nominee-structured companies from owning landed properties under the Foreign Business Act, according to the international real estate agency CB Richard Ellis (CBRE).

The agency also hopes to see the government increase the ratio of foreign buyers in condominiums to 75% from 49%, said CBRE managing director Aliwassa Pathnadabutr.

Full story: http://www.bangkokpost.com/News/16Jan2007_news02.php

I read this as not to panic if the Thais do this....

Per the first post..... not yet law....

keywords: should (in the form of a suggestion), hopes (in the form of a wish)

[thaigene2]

You can't separate the property issue from the visa issue - and that's the real issue that needs to be settled. The only foreigners who should now be considering a condo purchase, house lease, etc, are those here on retirement visas or those with cash to burn.

Everyone else should stay liquid - with that liquidity securely placed somewhere else - not here.

...and have an exit strategy.

[midas]

Leasehold-right extension to 90 years urged for foreigners

The government should extend the leasehold right for foreign buyers of properties in Thailand to 90 years, in conjunction with the proposal to restrict nominee-structured companies from owning landed properties under the Foreign Business Act, according to the international real estate agency CB Richard Ellis (CBRE).

The agency also hopes to see the government increase the ratio of foreign buyers in condominiums to 75% from 49%, said CBRE managing director Aliwassa Pathnadabutr.Full story: http://www.bangkokpost.com/News/16Jan2007_news02.php

I read this as not to panic if the Thais do this....

Per the first post..... not yet law....

keywords: should (in the form of a suggestion), hopes (in the form of a wish)

in other words th Thai's are no longer going to be so enthusiastic about investing in the

condo market ?? it's no wonder with the prospect of a big drop-off in the number of occupiers -

this is being seen in a big way in Pattaya and even many agents are admitting there will be

a significant glut down there

[Khleerm]

Yesterday, as I was reading through the Dec. 06 issue of the Property-Report Thailand, I came across a Phuket realtor's post that summed up the present market perfectly.

His quote: 'Many people in Phuket are wishing they had never come. But a lot of people have invested so heavily that they can't afford to leave." ~ Larry Cunningham, Phuket One Real Estate.

<gulp> How's that for candor?

[midas]

Yesterday, as I was reading through the Dec. 06 issue of the Property-Report Thailand, I came across a Phuket realtor's post that summed up the present market perfectly.

His quote: 'Many people in Phuket are wishing they had never come. But a lot of people have invested so heavily that they can't afford to leave." ~ Larry Cunningham, Phuket One Real Estate.

<gulp> How's that for candor?

Khleerm I just took a look at

Did you see the headline in this publication also :-

" Real estate firms, analysts bullish on 2007 "

Despite fears of a slow-down amid lack-lustre sales in most areas of

Thailand’s residential property market, securities analysts and real

estate firms are giving the thumbs up for the year ahead. “We expect

consumer confidence will turn up next year..,

They never give up do they ?

[John K]

Yesterday, as I was reading through the Dec. 06 issue of the Property-Report Thailand, I came across a Phuket realtor's post that summed up the present market perfectly.

His quote: 'Many people in Phuket are wishing they had never come. But a lot of people have invested so heavily that they can't afford to leave." ~ Larry Cunningham, Phuket One Real Estate.

<gulp> How's that for candor?

Khleerm I just took a look at

Did you see the headline in this publication also :-

" Real estate firms, analysts bullish on 2007 "

Despite fears of a slow-down amid lack-lustre sales in most areas of

Thailand’s residential property market, securities analysts and real

estate firms are giving the thumbs up for the year ahead. “We expect

consumer confidence will turn up next year..,

They never give up do they ?

Perhaps they mean consumer confidence will turn up somewhere else.

[Dupont]

Yesterday, as I was reading through the Dec. 06 issue of the Property-Report Thailand, I came across a Phuket realtor's post that summed up the present market perfectly.

His quote: 'Many people in Phuket are wishing they had never come. But a lot of people have invested so heavily that they can't afford to leave." ~ Larry Cunningham, Phuket One Real Estate.

<gulp> How's that for candor?

Khleerm I just took a look at

Did you see the headline in this publication also :-

" Real estate firms, analysts bullshittingish again on 2007 "

Despite fears of a slow-down amid lack-lustre sales in most areas of

Thailand's residential property market, securities analysts and real

estate firms are giving the thumbs up for the year ahead. "We expect

consumer confidence Stupidity will turn up next year..,

They never give up do they ?

Scans better.