Tuesday, January 8, 2013

Thailand Real Estate Industry Expects Upbeat 2013

The Bangkok Post recently reports that Thailand real estate prices are set to rise, adding that the Thai real estate sector is growing and consumer demands in all regions are on the rise. The Bangkok Post article stated that many properties were already made available for sale or for rent in 2012 and the number is expected to grow with more properties in the pipeline for big and small developers in 2013.

The Nation however has a different view and in a recent report included the Thai real estate marked as one of a number of economic bubbles that threaten the Thai economy. According to The Nation article, although Thailand real estate market may expand this year, a booming real estate create a financial bubble.

Foreign nationals dealing with the Thailand real estate sector need to exercise caution and obtain legal assistance from Thailand property lawyers. Thai- US law firm Chaninat and Leeds based in Bangkok has recently published the complete English translation of the Thailand Condominium Act. The Act is in legal language and is used by attorneys, professionals and interested consumers as well.

The text book of the Thailand Land Code in complete English translation which is available in many bookstores in Thailand is also published by Chaninat and Leeds. The Thailand Land Code covers the full text of the Act on Ministerial regulations prescribing the rules, procedures and conditions of land acquisition for residential purposes by foreigners.

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