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Pattaya seminar
Thailand Property Report
May 2009
Panellists called for an increase
of the 49 percent foreign ownership quota for condominium
developments in Pattaya, during a half-day seminar titled
"Approaches to Bolster the Tourism and Real Estate Sectors
in Pattaya", organised recently by Raimon Land and the
Pattaya City administration.
Pattaya City Mayor Ittipol Khunpleum opened the forum,
saying his first priority is the tourism sector, and his
administration has been urging businesses to stay up to
date on the policies designed to boost tourism in Pattaya,
such as a focus on increasing visitor length of stay.
Panellists, including executives from Raimon Land,
suggested that increasing the foreign quota at condominium
developments would stimulate the property market and the
economy, and create the structure to attract investment
from the home retirement market. They said that increasing
the quota could attract an additional Bt6 billion in sales
across 10 current projects, many of which have already
filled their 49 percent foreign quota. |
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