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NORTH AMERICAN CONDO HOTELS Outlook Bleak

Category: Real estate, Posted:18 Feb 2010 | 06:00 am

An ongoing recession and depressed property values in the United States have taken the condo hotel sector from a roar to a whimper in just a few short years. As lenders crowd the sidelines like some entourage or paparazzi at the upcoming Academy Awards, transactions are as rare as quality pictures.
Akin to stampeding cattle second homebuyers are running away from purchases where in many cases negative equity is the norm. For those looking for relief from rental yields, the hospitality led residential sector is seeing travelers move back into an already ailing hotel supply.
There continues to be cases of partly filled zombie buildings where the statutory bodies or owners associations have become insolvent so banks are looking to take in non-performing assets. It all adds up into an ugly hangover scenario where credit was king and there look to be no real short-term rainbows of recovery.

Other News

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Why Is The Phuket Sandbox Important?

Category: Tourism, Posted:02 Aug 2021 | 10:27 am As Bangkok grapples with rising numbers of Covid infections, leading tourism voice KP Ho, Executive Chairman of Banyan Tree Group, has told European envoys, airlines, senior officials and business leaders, that for Phuket Sandbox to succeed it is imperative for Phuket to be given “green” destination status. Speaking at the Phuket Sandbox Summit held at […]
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Direct International Flight For Koh Samui Coming

Category: Tourism, Posted:27 Jul 2021 | 11:29 am Koh Samui is set for the resumption of international flights from Singapore on the 1st of August. Under the Samui Plus program and expecting increased demand, Bangkok Airways is taking this first step for the direct overseas service. The initial stage is three flights a week on Monday, Thursday and Sunday. Meanwhile in the Phuket […]
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Thailand Property Takes Urban Flight As Lifestyle Takes Over

Category: Real estate, Posted:26 Jul 2021 | 06:00 am Thailand’s resort real estate markets have experienced a dramatic reset in buyer profiles over the past eighteen months of the pandemic. A strong wave of domestic demand has seen Thais flocking to the country’s leisure destinations and snapping up holiday or second homes. According to new data released by Thai property portal FazWaz, the popular […]