Khao Yai Property Hit By Investigations
One of Thailand's up and coming resort real estate markets Khao Yai has been hit hard by a series of government investigations over encroachment onto public land.
Two projects that have received most of the press are Kirimaya and Bonaza which are high profile estates.
The current probe is looking at land plots alleged to be in the National Park and also over conversions of Sor Por Kor titles which have been upgraded illegally and developed for commercial purposes.
While Phuket's media highlighted land investigations in the Sirinath National Park has provoked an outcry mainly from foreign property owners, the Khao Yak focus is hitting high-end domestic property buyers.
Thailand's ongoing property issues clearly point out for the need of widespread reforms in the government Land Department and also a need to internationalize the sector with title deed insurance as a means of protecting both consumers and developers.