A good piece about real estate in Thailand, published by International Herald Tribune. As usual, you won’t find this type of article in the thai press… It’s a shame.
Resort housing developments in Thailand typically have fancy Web sites, catchy slogans, glossy magazine ads and even celebrity sponsors and launch parties at five-star hotels.
What they often lack, however, is money to construct the actual buildings.
“A lot of projects never get started because of funding difficulties,” said Larry Cunningham, managing director of Phuket One Real Estate.
“First-time developers often just have enough money to buy the land with no construction. When they don’t get sufficient sales, it never gets built. In the future, this could be quite a negative for the market.” (to continue)
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