TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Hyperinflation Hits Island Property Owners

Category: Real estate, Posted:28 Dec 2010 | 09:36 am

For both residents and investors in Phuket's managed estates and developments, 2011 is set to see maintenance costs hit by hyperinflation.
The cost of labor intensive operations that affect common area or recurring maintenance fees derive largely from outsourced contracted functions such as security, gardening, and pool cleaning. These costs are then passed onto the customers, hence contribute to a great degree in escalating annual costs over normal inflation.
Driving the trend is a new minimum wage order which sees an 8.3% increase for the island to a daily amount of THB221. The rise is THB17 from the existing amount; though local officials had only asked for an THB11 increment.
Thailand's Ministry of Commerce has reported an official inflation figure for the first 11 months (January- November) of 3.4%, which is being forecast for a full year 2010 figure of 3.3%.
Conversely next year's new minimum wage for the nation's capital Bangkok will tally in at THB215 per day.

Other News

Read more

Thailand’s Sandbox Is Not A Quarantine

Category: Tourism, Posted:12 Jun 2021 | 10:45 am As we are 19 days away from Thailand’s Sandbox tourism reopening in Phuket, there continues to be a misunderstanding of the overall rules and the term quarantine is incorrectly used. Quarantine by definition is isolation, whereby Sandbox travelers will be able to move throughout their hotel, visit beaches, restaurants, shops etc. Remember Phuket is about […]
Read more

C9 Hotelworks Releases New Krabi Report

Category: Hotels, Posted:07 Jun 2021 | 06:00 am Comparing major Southern Thai resort destinations, Krabi is one that historically balances well between the international and domestic markets. In the new Krabi Hotel Market Update from C9 Hotelworks, we take a look back at pre-Covid trading to examine from what point hoteliers hope tourism will upcycle towards recovery and what will the trends be. […]
Read more

SHA Plus Program In Focus

Category: Hotels, Posted:06 Jun 2021 | 13:17 pm A key part of the upcoming Phuket Sandbox reopening process is the requirement for incoming international travelers to stay in an SHA Plus hotel for 14 days, or shorter if only visiting the island. Those who want to travel onward to other destinations in Thailand can proceed after a 14-day period. As travelers are scrambling […]