Thailand Property News Highlights August 14 - 18 2023

FazWaz real estate present the weekly highlights property news for August 14-18 2023. Here are some of the weekly highlights to keep to you updated on Thailand real estate market. 

Pruksa Developer Push for Resident Prosperity

Pruksa Real Estate, a leading Thai property developer, is calling for measures to increase income levels for residents in order to create a sustainable living environment.

Pruksa Developers believes that enhancing their property residents' income will improve standard of living. Which will also stimulate Thailand housing market. Pruksa developer is collaborating with various agencies to implement vocational training and employment support programs for its condo residences. 

Thailand real estate market is noticing Pruksa's initiative on creating a interconnectedness between communities and residents. In summary, the initiative's will improve Thailand property market health and boost the overall economy. 

More information: https://www.bangkokpost.com/property/2630231/pruksa-urges-income-boost-for-residents

The Reasons Foreigners Are Buying Thai Property

Foreigners are increasingly buying property in Thailand, despite certain legal restrictions.

Reasons of increase foreigner homebuyers in Thailand includes: attractive property prices, a robust legal framework and Thailand lifestyle and culture. Thailand government incentives and potential for long-term returns are contributing factors as well.

Real estate experts view influx of foreign homebuyers as a positive sign for Thai property market. It brings in fresh capital and increased demand, which can help to boost prices and stimulate development. 

More information: https://www.bangkokpost.com/property/2613985/why-foreigners-are-acquiring-thai-property

From Hot to Cool: Chinese Interest in Thai Property Takes a Surprising Dip

Once a top destination for Chinese homebuyers, Thailand's property market is seeing a decline in interest from Chinese investors. Experts attribute this to a number of factors, including economic conditions, regulatory changes, and evolving market dynamics.

COVID-19 pandemic has also played a role, as Chinese buyers are less able to travel to Thailand due to high airline ticket prices. Decline in buying interest from China can have wider implications for Thailand's property sector, affecting both prices and demand. Industry insiders are closely monitoring this trend as it may signal new opportunities and challenges in the Thai real estate market.

More information: https://www.bangkokpost.com/property/2629717/chinese-buyers-gradually-cool-on-thailand-as-destination

Sansiri Sets Record Straight: Denies Illegal Nominee Usage

Sansiri, a leading Thai property developer, has denied allegations that it has been using nominees illegally in its business operations.

In a formal statement, the company said that all of its activities comply with legal requirements. The statement came after recent accusations that have sparked discussions in the real estate industry and potentially threatened Sansiri's reputation.

Legal experts and industry observers are keenly following the situation, as it highlights the critical issue of nominee relationships in property deals. This is an aspect that has significant implications for corporate governance and regulatory compliance in the Thai real estate sector.

Search Now