LennyW Posted April 21, 2012 Share Posted April 21, 2012 CITY TO URGE HIGHER LIMITS ON FOREIGN-Owned condos Pattaya City Hall will press the government to raise foreign ownership limits on the city’s condominiums from 49 percent to 70 percent. According to Deputy Mayor Ronakit Ekasingh, the move would be a great investment opportunity for the arrival of the ASEAN regional market to be introduced in 2015. Pattaya Mayor Itthiphol Kunplome has promised to raise the matter with Interior Ministry officials. Full Story:http://pattayatoday....n-owned-condos/ --PATTAYA TODAY 2012-04-21 [newsfooter][/newsfooter] Link to comment Share on other sites More sharing options...
FarangBuddha Posted April 21, 2012 Share Posted April 21, 2012 (edited) "Pattaya City To Urge Higher Limits On Foreign Owned Condos" Translation: We have a seriously over-built condo market and we need to find more foreign suckers to bail us out! Edited April 21, 2012 by FarangBuddha Link to comment Share on other sites More sharing options...
Basil B Posted April 21, 2012 Share Posted April 21, 2012 Just shear greed... Why worry about tomorrow, after all, tomorrow is another day, (Thai Logic). Link to comment Share on other sites More sharing options...
Jingthing Posted April 21, 2012 Share Posted April 21, 2012 Does that mean the value of currently owned foreigner owned condos drops overnight? Because in the current market there is a differential in value between foreign owned capable (higher value) and not. Link to comment Share on other sites More sharing options...
LennyW Posted April 21, 2012 Author Share Posted April 21, 2012 Good that they are still pushing for the 1 Rai ownership issue for a personal dwelling, that would be most welcome for a lot of people. Link to comment Share on other sites More sharing options...
Jingthing Posted April 21, 2012 Share Posted April 21, 2012 It is based on the assumption that tourist arrivals and revenue in the resort city will triple over the next five years. That's a lot. In a city with only baht bus cattle trucks for public transport, no real taxi meters, and no other mass transit system. Uh oh! Link to comment Share on other sites More sharing options...
PoodMaiDai Posted April 21, 2012 Share Posted April 21, 2012 "Pattaya City To Urge Higher Limits On Foreign Owned Condos" Translation: We have a seriously over-built condo market and we need to find more foreign suckers to bail us out! Bingo. Link to comment Share on other sites More sharing options...
MAJIC Posted April 21, 2012 Share Posted April 21, 2012 Doe's this mean that the older Condos will sell for less than the newly built? enabling the developers to make more profits? Link to comment Share on other sites More sharing options...
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