Condotels on the rise in tourist hotspots, including Phuket, reports JLL

[snoop1130]

Condotels on the rise in tourist hotspots, including Phuket, reports JLL

By The Phuket News

 

Maikhao Beach Condotel in Phuket. Photo: Maikhao Beach Condotel
 

BANGKOK: While the Thai law does not allow short-term leasing of residential properties including condominiums, condotels have emerged as an increasingly popular property development format in major tourist destinations such as Pattaya and Phuket as well as Bangkok, reports the Bangkok office of international commercial property consultancy and broker JLL.
 

The trend has been driven by strong demand from individual investors looking for more flexible rental assets, and property developers looking for new opportunities in an alternative real estate sector, noted a release from JLL issued today (Oct 24).

 

A condotel is a condominium development with a hotel license allowing for the use of condominiums as hotel accommodation that can be offered for short term lease – daily or weekly – whereas the Thai law does not allow owners of condominiums to rent out their units for less than 30 days without a hotel license.

Full Story: https://www.thephuketnews.com/condotels-on-the-rise-in-tourist-hotspots-including-phuket-reports-jll-73354.php#YyMbpmjTGpZmChLo.97

 

-- © Copyright Phuket News 2019-10-24

Follow Thaivisa on LINE for breaking Thailand news and visa info

[mok199]

When is enough enough...

[phkauf]

worst investment EVER! - 'nuf said.

[khunPer]

Tourist condos on short term rent as hotel have been popular in Spanish tourist destinations since the 1960'ies, might be a good idea for Thailand also...????

[TherealG]

Couldn't be a worse idea. This will busy property values and the quality of life for everyone living there in the condo they actually own.