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The outlook for property on Phuket can be improved, an expert says

Phuket 'Needs Lease Changes, End to Corruption'

Sunday, August 16, 2009
EXPATS should be free to lease properties in Thailand for three periods of 60 years, not three periods of 30 years, the President of the Real Estate Association of Thailand, Kitipon Promoth Na Acyuttdhya, told a conference on Friday.

He said the law should be more flexible, and do away with the need for a Thai nominee in lease-type property sales.

Phuket also needs to overcome its weaknesses to become a world-class destination, Khun Kitipon added.

He said Phuket's strengths were its sea, sun, sand, its diving and its large variety of resorts, its friendly people, its good food and its good hospitals.

Weaknesses were first and foremost corruption, lack of environmental protection, security, and poor infrastructure.

Khun Kitipon, who is based in Bangkok, was talking to about 40 island business industry leaders in Phuket City as part of a series of conferences around the country.

The national government needed to invest in Phuket's infrastructure urgently, Khun Kitipon said.

Security was an issue for everyone and resorts could no longer rely on police and local authorities alone, he added.

On the environment, Phuket needed more good examples, as with the Sky Dive Reef of obsolete aircraft that was created off Bang Tao earlier this year, reducing the pressure on natural reefs.

''Ten years ago, the coral reefs were much more impressive,'' he said. ''The natural attractions need to be kept perfect.''

Corruption is Phuket's worst problem, he said.

''Phuket can be a world destination, but only if its problems are overcome,'' he added.

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Comments

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The President of the Real Estate Association of Thailand doesn't know that the maximum legally enforcible lease is a single 30 year period?

I find that rather disturbing.

Posted by Sir Burr on August 17, 2009 10:34


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