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Thailand Property – Koh Chang Developer Turns To Thai Buyers

By on Dec 05, 2014 in Property News

714335Thailand property developer, Siam Royal View Co, a property firm owned by a Swiss investor, will shift its focus to Thai buyers, as they are less put off by political troubles. The company plans to develop six new condo buildings worth a combined 1 billion baht and a 350-million-baht hotel on Koh Chang, close to the Cambodian border and part of Trat province.

Chief executive Roland Steiner said political crises in Thailand including martial law had affected residential demand in resort destinations among foreigners, as they did not feel confident about the situation.

“Foreign tourist arrivals to Koh Chang remain positive, and it’s a good rental property market,” he said. “But foreign investors and buyers have stopped buying there, as they are not confident about when an elected government will be established.”

He said the island was unpopular among Thai tourists, as ferry service was unpredictable, with long waits during the high season. To market to Thai buyers, the company plans to build a high-speed boat port on 21 rai on the mainland near the public ferry service port.

However, the company will wait on all projects until an elected government is formed, as all the developments require huge investments.

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