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Thailand Live Friday 15 Feb 2013

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PROPERTY SCENE

AEC, tourism drive investment trends

Aliwassa Pathnadabutr

BANGKOK: -- The Asean Economic Community is undoubtedly one of the hottest topics right now for all economic sectors. Every business is thinking ahead about what impact it might have on its industry. Most of the impressions of the AEC are on the positive side.

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Developers in most property sectors link what they anticipate is the positive impact of the AEC to their market. However, we should also look at the other side of the coin: drawbacks including human-resource shortages and Thailand's lack of competitiveness against other Asian countries.

Tourism is viewed as being another hot growth sector for Thailand this year. With a record high of 22 million foreign-tourist arrivals in 2012, the country is demonstrating lasting strength in tourism. Projections for 2013 are for the industry to beat last year's record with 24.5 million arrivals. This is good news for hotels and serviced apartments, which can expect higher occupancy and the opportunity to push for higher room rates.

While there are some concerns over the strengthening baht, I think it will have a minor impact and should not deter tourists. The cost of accommodation, food and beverages in Thailand is still low by international standards and the country is well positioned in the range of tourist destinations it offers.

If the country is safe from internal political problems and the economy continues at its present pace, tourism growth should continue and the hotel oversupply should improve.

The trend to be seen this year is the growth in the property markets of major provincial cities including Chiang Mai, Khon Kaen, Udon Thani and Phuket - areas that are being increasingly focused on by several listed developers. I have seen expansion from large retail developers such as Central to provincial cities over the last few years. In 2013, developers in provincial cities will focus on small condominium units with a low entry price, which will target the local market.

Major cities with the right fundamentals in terms of infrastructure, location and potential as a hub for neighbouring countries should do well and development will expand to other commercial property sectors. Development in smaller cities will depend on how much real demand there is and how long demand can be sustained. Growth in each market remains to be seen.

Another trend for the residential market that will get Thai buyers' attention this year is central London. With the strong baht and the exchange rate hitting a low of Bt46 to the pound sterling, London is the ideal safe haven for international investors. I have seen this trend emerging since last year when rich Thais purchased central London properties as an investment as well as for their children studying in Britain, and I believe this trend will continue in 2013.

Last, buying condos in Bangkok will remain an "in" trend for the long haul, especially one-bedroom units near mass-transit stations. As long as the number of units is in line with the growing working population in Bangkok, lifestyle changes and the ever-increasing importance of public transport will continue to support this trend.

While we know there is steady real demand from end-users and long-term investors, the danger is that there are also many speculators in this market.

Each developer should be keenly aware of the risk of a high proportion of speculators who may not be able to complete their purchase.

There are still more "in" and "out" trends in the property market. I will share them with you in the next column.

Aliwassa Pathnadabutr is managing director of CB Richard Ellis Thailand.

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-- The Nation 2013-02-15

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PM'S BROTHER

Ombudsman hands Foreign Ministry ultimatum over Thaksin's passport

Chanikarn Phumhiran

The Nation

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BANGKOK: -- The Office of the Ombudsman has stepped up pressure on Prime Minister Yingluck Shinawatra to heed its recommendation that former Prime Minister Thaksin Shinawatra's passport be recalled, Ombudsman spokesman Raksakecha Chaechai said yesterday.

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UPDATE:

Same-sex couples call for marriage rights

The Nation

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BANGKOK: -- Valentine's Day yesterday saw lovebirds register their unions at district offices, especially those with "lucky" names such as Bangkok's Bang Rak ("Village of Love"). Same-sex couples who showed up only to be turned down, as such unions aren't recognised by Thai law, called for legal amendments to allow gay marriage.

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BURNING ISSUE

Turnout, not ideas, to decide city race

Avudh Panananda

The Nation

BANGKOK: -- The race for the position of Bangkok governor has been very low key, raising concerns that voter turnout on March 3 will be correspondingly low.

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SOUTH CRISIS

Small sums will be given to killed insurgents' families: SBPAC

The Nation

BANGKOK: -- The families of the 16 insurgents killed in a military ambush in Narathiwat early on Wednesday will not be entitled to any large compensations like the sort granted to people affected by political violence, the Southern Border Provinces Administrative Centre (SBPAC) announced yesterday.

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DEATH OF MILITANT

In death, insurgent is man of two lives

Don Pathan

The Nation

Bacho, Narathiwat

NARATHIWAT: -- Mahrosu Jantarawadee's parents had to wait for four hours before Narathiwat Hospital would release his body because the commander of the Fourth Army Area and other VIPs wanted to see what the 31-year-old man looked like.

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EDITORIAL

In desperate need of open spaces and fresh air

The Nation

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Lumpini Park

Bangkok has one of the lowest percentages of green areas of any major capital in Asia; it's time residents got new parks to breathe in

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Median bidding price for new Parliament complex set at Bt12-bn

The Nation

BANGKOK: -- The median price of the new Parliament's construction has been set at Bt12 billion, the House committee on parliamentary affairs' spokes Democrat MP Boonyod Sukthinthai said yesterday.

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Committee tasked with procuring tablet computers for students

Supinda na Mahachai

The Nation

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A new committee will soon spring into action to procure tablets for students for the 2013 academic year.

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Group says 'fighter' cell may have been infiltrated

DON PATHAN

THE NATION

Bacho, Narathiwat

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Separatist chief considers existence of mole

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South agencies urged to cut their budget for 2014

The Nation

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BANGKOK: -- The House committee on military affairs yesterday called on the two state agencies working to control insurgency in the South to coordinate and cut down on overlapping operations to save money.

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Wichean to testify over stalled police-station project

Piyanuch Thamnukasetchai

The Nation

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BANGKOK: -- Former police chief General Wichean Potephosree will provide his testimony in relation to the much-delayed 396 police-station construction project in front of the Department of Special Investigation (DSI) today.

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Sleep-starved Thais struggle to juggle family, work commitments, study finds

The Nation

BANGKOK: -- A fifth of workers in Bangkok (21 per cent) report that they have to sacrifice sleep to fit in personal and work commitments, either by waking up too early or by burning the midnight oil.

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AirAsia move no threat to THAI: minister

The Nation

BANGKOK: -- Transport Minister Chadchart Sittipunt insisted yesterday that any further expansion in Thailand by AirAsia, the region's biggest low-cost carrier, would not cramp the Thai national carrier, however local rival Orient Thai was not impressed by the statement.

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UPDATE:

Carlsberg – Singha deal is now in place

BY ANDERS HOLM NIELSEN

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BANGKOK: -- A few months ago ScandAsia brought an article on how it was announced that Carlsberg would be re-entering Thailand through a new partnership with Singha brewery. Now more numbers and expectations are out as a realisation of bringing Carlsberg back as a major player in Thailand moves closer.

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Phuket-Ranong visa-run van flips three times in Phang Nga

Phuket Gazette

PHUKET: -- A visa-run van returning to Phuket from Ranong with 10 Russian passengers flipped three times as it took a sharp turn at “high-speed” on the wet roads of Phang Nga yesterday.

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Brake failure on fleeing bus causes second accident

Phuket Gazette

PHUKET: -- A tour bus fleeing the scene of an accident suffered brake failure and crashed into a utility pole on Patong Hill yesterday, causing a three-hour traffic jam.

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UPDATE

Man searching for girlfriend dies in fall from Thailand hotel balcony

SURIN: -- An Australian man "broken hearted" over the loss of his Thai girlfriend, has died after plunging from a hotel balcony in northeast Thailand.

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Malaysians urged to stay away from southern Thailand

KOTA BARU: -- Malaysians, including residents at the Kelantan/Thai border, should temporarily stop travelling to southern Thailand following the latest insurgent attack at an army base in Narathiwat which killed 16 militants on Wednesday.

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Thailand's capital city

Power failure

An election is all about winning power back from the central government

BANGKOK: -- In a city with all the problems of Bangkok—from floods to creaky infrastructure—politicians prefer to grab voters with sweeping generalities rather than detailed promises.

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American-US Airways Merger Creates World's Largest Airline

WASHINGTON, February 15 (RIA Novosti) American Airlines and US Airways announced Thursday plans to merge in an $11 billion deal that would create the world's largest airline, and according to some industry analysts, make airfares take off.

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World Record for the longest continuous kiss broken in Pattaya….again!

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PATTAYA: -- The World Record for the longest continuous kiss has been broken here in Pattaya once again!

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Thai stock index opens on Tuesday at 1,524.60, down 2.14 points /MCOT

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Taxi drivers face harsher penalties for rejecting passengers

By Digital Media

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BANGKOK, Feb 15 - Any Bangkok taxi driver found repeatedly shunning would-be passengers will soon be at risk having his/her driver’s license suspended or even revoked, the Department of Land Transport chief warned.

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Gov't expands village fund scheme with new Bt15 billion injection

By English News

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BANGKOK, Feb 15 – A fresh allocation of Bt15 billion will be granted to the village fund project to spur the economy at the grassroots level, according to a cabinet member.

Minister of the Prime Minister’s Office Varathep Ratanakorn said the money will be distributed to 15,000 village funds, each having a start-up cash flow of Bt1 million.

Combined with an earlier amount of Bt21 billion earmarked to 21,000 village funds, the total money circulated in rural communities nationwide is Bt36 billion, he said.

He said the Government Savings Bank, the Bank of Agriculture and Agricultural Cooperatives and Krung Thai Bank have been assigned to facilitate villagers in managing their respective funds and setting financial discipline among fund members.

Mr Varathep said the village fund scheme has stimulated financial circulation, spending and investments in rural areas, covering 13 million people under the project.

The government aims for a total of 80,000 village funds throughout the country but inefficient and mismanaged funds must be developed with the final objective of allowing self-management among fund members, the minister said, citing some successful funds which have boosted their Bt1 million capital to Bt10 million.

Prime Minister Yingluck Shinawatra officially launched the Bt15 billion new allocation in a colourful event in Chiang Mai on Thursday and expressed her appreciation to some fund operators who sharply increased their capital to Bt50-100 million.

The village fund project, the brainchild of former prime minister Thaksin Shinawatra, has been in existence for 11 years, currently with 79,255 local funds nationwide. (MCOT online news)

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-- TNA 2013-02-15

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Thailand's Prostitution Image Is Embarrassing

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BANGKOK: -- Prostitution has become so widespread in Thailand for so long that it has become world famous for it. Many foreigners in other countries associate Thailand as a place where prostitution is its major industry. Some even make jokes about it. But the reality is not that funny for the prostitutes.

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Thai couple smooch to a new world record

BANGKOK, Feb 15, 2013 (AFP) - A kiss lasting nearly two-and-a-half days propelled one determined Thai couple to a new record for the world's longest smooch on Valentine's Day, organisers said Friday.

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Phuket top choice for Thai travelers

BANGKOK, 15 February 2013 (NNT) – A recent poll has indicated that the southern province of Phuket is the most popular destination for Thai tourists; while 80% of the Thai travelers prefer travelling domestically to going abroad.

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Curfew unlikely to be imposed in 3 southern border provinces as over 80% of local residents opposed it /The Nation

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RT @ChadapornLin: Red Cross seeks donation of blood types A, O and AB due to shortage

RT @ChadapornLin: Thai-Belgian Bridge repair pushed out to start on March 5 when schools are on a break

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