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Russian upper class take over Phuket properties


webfact

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5 hours ago, CHdiver said:

If Thailand is not careful, the Russian will declare Phuket a second Krim and take it over. 

Because there are many speaking Russian, the same story they tell in Ukrain.

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8 hours ago, CHdiver said:

the Russian will declare Phuket a second Krim and take it over. 

Never mind, the Royal Thai Armed Forces will take care of it.

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9 hours ago, webfact said:

Villa-Chada-Listing-1.jpg


Phuket has become a playground for Russia’s wealthy elite, causing property prices to skyrocket by 15 to 20%.


Amidst Thailand’s tourism boom and the aftermath of the Russia-Ukraine conflict, affluent Russians are making Phuket their long-term home, revealed Maetapong Upatising, president of the Phuket Real Estate Association.

 

“Phuket’s allure lies in its world-class amenities, including an international airport, schools, golf courses, yacht marinas, hospitals, and a dazzling array of luxury villas and condos.”

 

This influx has prompted major developers like Origin, Sansiri, Siamese Asset, and Raimond Land to invest heavily in Phuket, unveiling projects in coveted areas such as Cherng Talay and Patong.

 

by Puntid Tantivangphaisal

Photo courtesy of Elite Havens

 

Full story: The Thaiger 2024-01-04

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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Phuket sells its soul:coffee1:

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thought foreigners can not own land in Thailand or is it a special deal with Russians they can own land... it baffles me to see so many houses being built, majority advertised for sale in English, and yet we can not own land, are Thais that rich they can afford to buy these houses listed for 3,99 mil baht an up, somehow they must as they don't stay empty for long... still baffled by all of it

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3 hours ago, Mavideol said:

thought foreigners can not own land in Thailand or is it a special deal with Russians they can own land... it baffles me to see so many houses being built, majority advertised for sale in English, and yet we can not own land, are Thais that rich they can afford to buy these houses listed for 3,99 mil baht an up, somehow they must as they don't stay empty for long... still baffled by all of it

 Not individuals. But there are a number of legal ways to buy/own land by company or proxy. A Thai lawyer easy make it happen.

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10 hours ago, hotchilli said:

Work in progress...

Phuket may revel in the Russian invasion, gleefully taking the revenue now.

But wait until Russians do what Russians do.. take over, businesses, start dictating what goes on and push prices of everything up until the locals are forced out.

 

Not the same but similar to Harbin in the early part of the 20th century, when Russians took over the city and eventually forced a joint Soviet-Chinese administration. One of the few good things Japanese Manchukuo did was to kick out the Russians. Given the chance, they will colonize and take over wherever they go.

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1 hour ago, Adumbration said:

It is not a property boom.  It is a money laundering boom.

 

And where the *uck are these world class ammenties?

that paragraph is not about Thailand, they were talking about somewhere else   555

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1 hour ago, LivinginKata said:

 Not individuals. But there are a number of legal ways to buy/own land by company or proxy. A Thai lawyer easy make it happen.

I know there are many/different ways of peeling a rabbit ....easy to buy not so easy to resale using company or proxy

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11 hours ago, hotchilli said:

Work in progress...

Phuket may revel in the Russian invasion, gleefully taking the revenue now.

But wait until Russians do what Russians do.. take over, businesses, start dictating what goes on and push prices of everything up until the locals are forced out.

 

But don't forget,  They CAN'T BUY the property under Thai Law, they may only lease it, unless they are VERY VERY RICH,  !
Does the Government allow them to buy 100% of Thai land  ?  ?

Condo's you can buy, IF you're within the 49% of the Rule, Land is the same 51% has to be owned by a Thai  !

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30 minutes ago, Mavideol said:

I know there are many/different ways of peeling a rabbit ....easy to buy not so easy to resale using company or proxy

Just love your English, but it is to SKIN a rabbit. You PEEL a banana!   Cheers.

Edited by KannikaP
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