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Author: search.filters.author.Fongsuwan, WannoSubject: search.filters.subject.Bangkok

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    Determinates of foreign real estate investment within Thailand's special autonomous systems (SAS) of Bangkok and Pattaya city
    (2015-01-01)
    Teeranantawanich, Natthapat
    ;
    Fongsuwan, Wanno
    Thailand's real estate laws can at times be difficult to navigate with Bangkok and Battaya's special legal status for foreign real estate investment even more so. These special autonomous systems, however thrive with both commercial and residential real estate transactions with the Board of Investment and Industrial Estates playing a key role in Thailand's growth. In 2015, Battaya alone is projected to have 10 million international and domestic visitors contributing $3.26 billion to the local economy. Japan currently leads international investing but with southeast nation economic integration in 2015, other community members will take a bigger role. As such, the researchers undertook a study to explore the various factors affecting the reasons for foreign real estate holdings. These included government policy, the economy and investment factors and social and environmental conditions. Quantitative survey input came from 301 parents of international school students, expat groups and condominium owners. Qualitative data was secured from 10 senior executives involved in real estate transactions as well as individuals from Thailand's Board of Investment promotion agency. The study revealed that due to limited ability of foreigners to hold property, other mechanisms such as nominees, Thai nationals and wives were commonly used. Additionally, foreigners were sensitive to the 6.3% land transfer tax which they considered quite high. Overall government policy, internal economic factors and the environment (flooding, etc.) and infrastructure (sea and airports, roads, power, etc.) played key roles in foreign investment decisions.
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    Foreign real estate holdings in Thailand's Special Autonomous Systems (SAS) Bangkok and Pattaya: A structural equation model
    (2014-01-01)
    Teeranantawanichand, Natthapat
    ;
    Fongsuwan, Wanno
    This study was undertaken to study the factors that affects foreign leasing and ownership of real estate holdings in Thailand's 'Special Autonomous Systems' (SAS) located within the Bangkok metropolitan area as well as the coastal resort city of Pattaya situated along a 15 km stretch of t he Gulf of Thailand's eastern shore. In 2012, Bangkok was once again ranked 1st as the 'World's Best City' while Pattaya has grown from a tiny fishing village 2 h southeast of Bangkok to what some estimate is a half million people during the height of the tourist season. As the regional air, transportation and logistics hub of Southeast Asia, Bangkok's role within the AEC can't be underestimated. Pattaya, whose average beachfront land has trebled in the past 10 years, has become the place to visit and live for both Thais and foreigners. Thai government authorities are projecting 10 million visitors for Pattaya in 2015, with US $3.26 billion in tourism receipts. Additionally, between 2008-2013 Bangkok in some areas saw a 150% jump in commercial property values. Results of this study found that government policy has a direct and positive effect on the economy and investment as well as the types of foreign real estate holdings types. Additionally, the economy and investment had a direct and positive influence on foreign real estate holdings.