Top Thailand Property News Of The Week 12 September 2022

The top residential and commercial real estate news of the week - 12 September 2022

Developers seek gradual rise in land, building tax
Bangkok Post
Property developers have urged the government to reconsider full collection of the land and building tax, suggesting a step-by-step increase, starting from a discounted rate of 50-75% during 2023-25 as the economy is fragile.

Assetwise forms JV with Tokyo Tatemono
Bangkok Post
Real estate developer Assetwise Plc (ASW) has formed an alliance with Tokyo Tatemono of Japan to jointly develop the 2.2-billion-baht Atmoz Oasis Onnut condominium project.

Officials informed to use judgement in land cases
Bangkok Post
The land and building tax law lets local administrative officials decide whether landowners are managing their lands in such a way to avoid paying a higher tax rate, says finance permanent secretary Krisada Chinavicharana.

Call to put Chon Buri condo supply on hold
Bangkok Post
Despite an improving residential market in Chon Buri in the first half, new condo supply should be put on hold as there is still a large number of unsold units, according to the Real Estate Information Center (REIC).

Hotel rates low despite surging costs
Bangkok Post
Hotels are struggling to raise room rates amid intense competition in the industry, despite pressure from higher operational costs due to surging electricity bills and wages.

Northern residential market rebounds to pre-Covid levels
Bangkok Post
The residential market in key northern provinces is reviving to pre-Covid levels following a recovery in tourism, which is boosting the local economy, though higher development costs remain a concern.

FTI foresees opportunities in Saudi Arabian mega-city
Bangkok Post
The Federation of Thai Industries (FTI) sees a new business opportunity for Thai companies under the newly-forged Thai-Saudi trade cooperation that could lead them to earn revenue in Riyadh's ambitious plan to build the US$500-billion mega-city of Neom.

Wage hike looms large for firms
Bangkok Post
Businesses have mixed reactions to the new daily minimum wage hike finalised by the cabinet yesterday as they deal with a raft of economic challenges.

Evergrande’s Hong Kong headquarters taken over by a receiver
Bloomberg
China Evergrande Group’s Hong Kong headquarters building has been taken over by a receiver, according to a document from the Companies Registry, confirming previous reports that the developer had lost control over the tower worth more than $1 billion.