Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[gk10002000]

Long term affects of the Bangkok flood situation. People are resistant to moving and relocating, but some major event may drive them to relocate. I suspect Pattaya and other cities that have some sort of infrastructure are going to get a lot of new residents. Where can Pattaya expand to? Where can more middle to low income housing crop up?

[Orac]

does that mean house prices are going to go up?

[Jingthing]

I agree completely. This event will cause a dramatic short term growth bomb in Pattaya that will persist. The same thing happens in a lot of counties. I experienced this before in Guadalajara Mexico which grew rapidly after a major Mexico City earthquake. They came ... and they stayed.

[Awohalitsiktoli]

I agree completely. This event will cause a dramatic short term growth bomb in Pattaya that will persist. The same thing happens in a lot of counties. I experienced this before in Guadalajara Mexico which grew rapidly after a major Mexico City earthquake. They came ... and they stayed.

The OP asked: "Where can Pattaya expand to? Where can more middle to low income housing crop up? " That implies that there is a housing shortage. There really isn't a housing shortage. If one talks about condo units, there are plenty of them that are vacant because real estate speculators have bought them up and are sitting on them, waiting for a miracle to happen. The solution, which the government might one day implement, is to tax the vacant units. That would introduce an incentive for the speculators to either rent them out or sell them at a price that reflects actual market conditions.