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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’s Russian Winter Market Airlift Surge

Category: Tourism, Posted:14 Aug 2022 | 19:39 pm Direct airlift between Moscow and Phuket will resume with flights starting from 30th October. National carrier Aeroflot will offer daily service. Currently,  most Russian travelers fly via the Middle East on Emirates, Qatar, or Etihad. Singapore Airlines previously flew direct to Moscow and connected travelers via a number of flights to Phuket, but suspended services […]
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Global Experiential Hospitality Brand Selina Debuts In Southeast Asia

Category: Hotels, Posted:12 Aug 2022 | 18:12 pm One of the fastest-growing hospitality brands in the world Selina, has opened their first Southeast Asia property in Phuket, Thailand. The 52-key Selina Serenity Rawai Phuket is a conversion of what was previously an independently managed property, and prior to that had been operated by Outrigger Hotels and Resorts. Selina’s DNA is based on local […]
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BDMS To Open Medical Wellness Facility At Laguna Phuket

Category: Real estate, Posted:12 Aug 2022 | 10:27 am The Greater Cherngtalay area in Phuket is set to see a new international-standard medical and wellness facility from leading Thai group BDMS (Bangkok Dusit Medical Services). Located in the middle of the integrated resort development of Laguna Phuket at Canal Village, the offering is targeted at both a growing local and expatriate population and overseas […]
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