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Car Parking Space Overlooked as Phuket Property Targets Thai Investors

Sunday, October 27, 2013
PHUKET: The property market on Phuket had changed, the governor heard this week, both in product and buyers.

Gone were single homes - because of the high price of real estate, said the Deputy President of the Real Estate Association of Phuket, Montavee Hongyok.

Instead of homes valued at five million baht to 15 million baht Phuket was seeing developments of semi-detatched houses, condominiums or shophouses.

European property buyers had fallen away and Thais were replacing them, he told Governor Maitree Intrusud at a meeting in Phuket Provincial Hall.

The condos were mostly in the one million baht to two million baht range, from 60,000 baht to 90,000 baht per square metre, with large well-known brands dominating the market.

Car parking was the island's biggest problem associated with the present trend, he said.

''So many developers still rely on street parking,'' he said. ''We would urge local councils to insist on two car parking spots for any unit of 120 square metres.''

He added that it would be wise if the governor sought to end the need of developments of 80 units or above to apply for their environmental impact assessment through Bangkok.

''It usually taken a lot more time and often there are needless delays,'' Khun Montavee said.

Comments

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Isn't that the rule already? When you submit your application for a building permit, you need to show a parking place for every unit. TIT enforce the rules.

Posted by GiantFan on October 27, 2013 18:05

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The large numbers of shop houses built in Kata (market road) that have never opened could partially be down to high proposed rents (inc key money) but also down to lack of parking space with high kerbs paint marked for 'no parking' on an already narrow & congested road. Nobody can stop or park so that kills any business.

Posted by Logic on October 28, 2013 13:05

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@ Logic. It's Halloween, go on your broomstick. After that its high season, yes time to get "high".

Posted by RobinS on October 28, 2013 18:05

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A nice little property bubble about to pop, followed by a banking crisis, as the banks are lending to the developers and then again to thais who won't be able to repay their mortgages.
Nothing learnt from the Western world's mistakes, i see.

Posted by jimbo on October 30, 2013 06:20

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"The condos were mostly in the one million baht to two million baht range, from 60,000 baht to 90,000 baht per square metre, with large well-known brands dominating the market." What a nice spot!!!!!! The midium price to build its ins't more than 30-45.000. Lucky Thais where the rule of 100% earning isn't finished yet...

Posted by richard on October 30, 2013 09:13


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