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Property Developers Start Escrow Initiative

Category: Real estate, Posted:20 Oct 2011 | 06:00 am

Despite Thailand's Escrow Act initiative, property developers have been slow on the take up.
Many real estate players have cited the restrictive environment and limited appointment of approved escrow institutions with large fees being a barrier to entry.
For others consumer demand simply has not been a reason to get off the bench and onto the playing field.
Reading a recent Bangkok Post article news comes that six Bangkok developers and a Kasikornbank are initiating a new scheme.
Unfortunately for Phuket's overseas buyers, the escrow act is tailored for freehold properties and looks to offer little for foreigners purchasing leasehold villas or apartments.
While escrow remains a fundamental element of property transactions in most developed markets, it's sad to see the absence of it here on the island.

Other News

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Phuket International Reopening Next Week

Category: Tourism, Posted:30 Sep 2020 | 09:33 am The resort island of Phuket is preparing to welcome 120 Mainland Chinese overseas travelers from Guangzhou next week on October 8th. As per government guidelines, the visitors will stay in Alternative Local State Quarantine (ALSQ) hotels for 14 days. According to news sources and the Phuket public health office, there are presently nine hotels approved […]
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The Future of Virtual Versus In-Person Hotel Events

Category: Hotels, Posted:25 Sep 2020 | 13:48 pm C9 Hotelworks and QUO have put together a short survey we hope you will take. As we look to the future of events for the hospitality and tourism sectors, we’re curious to understand more about your expectations and appetite. How far will you be willing to travel (if at all)? What subjects will you be […]
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Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]