The Thai condominium market is experiencing a surge in activity, largely due to a permanent visa-free policy for Chinese nationals, which has led to a significant increase in property purchases by foreigners.
In the first three quarters of the year 2023, foreign buyers transferred ownership of 10,703 units valued at 52,259 million baht (US$1.46 million). This momentum is expected to continue, with projections suggesting that the year-end figures will likely mirror those of the previous year, where transactions totalled 59,260 million baht (US$1.65 million).
The visa-free policy, which has been extended to tourists from Kazakhstan, India, and Taiwan temporarily, is anticipated to positively influence the Thai condominium market, as it facilitates easier travel.
Foreigners often purchase condos as a second home, close to their children's schools, with the option to rent them out when not in use. Chinese buyers have been particularly active, accounting for nearly 50% of foreign transactions in the nine months of 2023, with 4,991 units transferred at a value of 24,740 million baht (US$691,602).
According to Wichai Wiratkaphan, the Acting Director of the Real Estate Information Center (REIC), the foreign clientele has become an essential source of purchasing power in 2024, compensating for weaker domestic demand and reduced purchasing power. He revealed that the transfers of condominium ownership by foreigners nationwide during the first three quarters of the year 2023 have been robust.
The permanent visa-free policy between Thailand and China, not only benefits the tourism industry but also invigorates the real estate market, including both pool villas and condominiums, especially in tourist destinations like Phuket.
Sansiri, a leading property development company, is continuing its aggressive expansion into the foreign market, aiming for a sales target of 7,000 million baht (US$195,683) in 2024, which represents a 15% increase from the 6,100 million baht (US$170,524) achieved in 2023.
The company's main clientele consists of Chinese and Russian buyers, and there is an expectation that Chinese customers will return in greater numbers within the year, reported KhaoSod.
Prasert Taedullayasatit, Chief Real Estate Officer at Ananda Development, expressed that positive factors for the real estate market in 2024 include the steady demand from foreigners, particularly for condominiums. This is attributed to the shrinking purchasing power domestically.
The primary foreign demand comes from groups in Hong Kong, Taiwan, and Myanmar. The government's policy for permanent visa-free travel between Thailand and China is hailed as a positive development, which has increased tourism and consequently, the demand for residential properties.
Residents of Huay Yai area in Chonburi province were gripped by panic after a two-meter-long freshwater crocodile was spotted sunbathing near a fishpond on February 4th, 2024.
Local officials, including the Huay Yai sub-district Municipality's disaster prevention and mitigation team, along with over 20 personnel, rushed to the scene in Huay Yai to tackle the situation head-on.
After locating the crocodile, the officials decided to use a car battery to deliver a controlled electric shock in the water. This non-lethal method effectively stunned the crocodile, allowing officials to safely retrieve it from the water.
According to reports, the reptile was measured at over 2.10 meters in length and weighed 33 kilograms. Following its capture, the crocodile was transported to the Banglamung Wildlife Breeding Station for comprehensive care and monitoring.
Authorities are currently investigating the origins of the crocodile and where it escaped from.
Trots tuffa ekonomiska utsikter väntas i sommar en anstormning av semesterfirare till europeiska flygplatser, rapporterar DI.
De tre stora lågprisflygbolaget Ryanair, Easyjet and Wizz Air har alla pekat mot tidiga tecken på en stark sommarefterfrågan, och indikationer på ett starkt resesug i Europa har även fått andra aktörer att öka sin kapacitet.
Mellan april och oktober kommer europeiska flygbolag att ha 817,5 miljoner flygsäten tillgängliga, rapporterar Financial Times med hänvisning till siffror från flyginformationsföretaget OAG. Det är den högsta siffran som noterats, uppger affärstidningen vidare.
Samtidigt har priset för en flygbiljett ökat kraftigt sedan före pandemin. Enligt EU-data från oktober handlar det om en prisuppgång på 20–30 procent mellan 2019 och 2023.
Europas sex största flygbolag väntas för 2024 redovisa justerade rörelseresultat på 10,5 miljarder euro, enligt Factset, alltså motsvarande 119 miljarder kronor. Det kan jämföras med 9,2 miljarder euro under förra året.
Get more information about procedures and requirements for obtaining a Thai pink ID card to make life in Thailand easier.
What is a Thai pink ID Card?
A Thai Pink ID Card is an identity document initially issued for stateless people or people who have alien status in Thailand. Those people who live in Thailand legally for a long period of time, whether Permanent Residency, aliens, or foreigners, should hold Thai pink ID card to identify themselves. But before they can apply for the card, they need to have a Thai ID number.
Other than identifying the person and state in Thailand. A Thai pink ID card also comes with more benefits for permanent residents or expats who intend to settle in Thailand. Whether for residential or business purposes, the pink ID card is an essential thing you should consider.
**Please note: Due to Thailand's Covid-19 restrictions, all services for obtaining a Pink Thai ID Card have been suspended until further notice.**
How to get a Thai ID Number
Before you receive a Thai ID number to apply for the Pink ID card, first, you must register your place of residence in Thailand with the government. You will get a Thai house book when your registration is approved. You will get a Yellow House Registration book if you are a foreigner who lives and has residency in Thailand, but you will get a Blue House Registration book when you are a permanent resident.
When you have your name present in the yellow or blue house book, you're ready to apply for the ID card. The next step is to bring your original and a copy of your house book, and other required documents to the District Office, to get an ID number and apply for the pink ID card.
What are the required documents to apply for a Thai Pink ID Card?
To apply for a Thai pink ID card, you will need to submit the documents to the district officers. Bring all original and copies of required documents to submit your Thai pink ID card application. Getting a Thai pink ID card is not difficult, and these are required documents you'll have to prepare before applying.
1. Passport and visa – copies of your passport's relevant pages would need to hand over. You need to have a valid visa for non-immigrants.
2. House Residence Certificate – You can use copies of your work permit and resident certificate from your Thai house book with a signed copy.
3. Married certificate – Additional for people who are married to Thai or Thai permanent residency.
4. Permanent residency – Additional for PR has to hand in 2 books for permanent residency.
6. Birth certificate (if any) – Additional for people who birth or have children in Thailand.
BANGKOK (NNT) - The Tourism Authority of Thailand (TAT) is urging the government to extend the visa-free stay period for long-haul tourists from the United States and Europe to 90 days to boost the country's tourism revenue from these regions to 40% in 2024. The initiative, aimed at increasing the average duration of stay and spending per trip, comes as part of TAT's strategy to enhance the tourism sector's contribution to the economy.
Thailand currently facilitates tourist visas on arrival for nationals from over 60 countries, allowing them a 30-day stay. The proposal to extend this period follows the success of a temporary 90-day visa granted to Russian tourists last November, which significantly benefited the tourism sector.
In the past year, over 100,000 foreign tourists, predominantly from the US, the UK, Sweden, and Germany, applied for a 60-day visa. The proposed extension to 90 days is expected to generate at least a million additional room nights across the country.
The tourism body has also requested the National Tourism Policy Committee to extend other tourist-friendly measures, such as visa-free stays for Kazakh tourists and continued suspension of TM6 forms at Thai-Malaysia border crossings, alongside the 90-day visa-free stay for Russians. These measures are pending cabinet approval.
Despite global challenges like geopolitical tensions and Europe's sluggish economy, the TAT remains confident in the appeal of Thailand to European travelers, citing the country's cost of living and the propensity of these tourists to stay longer. The agency anticipates record-breaking arrivals from major markets, including up to 2 million Russian tourists and over 1 million each from the US, the UK, and Germany.
Tourists from nearly half of all countries, including China, can now enter Thailand without a visa.
The Thai foreign affairs ministry has downplayed the danger to national security created by abolition of visitor visas for nationals of China and India in particular. Spokesperson Kanchana Patarachok pointed out that there would not be an increase in the number of foreign businessmen operating illegal companies, or career criminals, as Thai immigration could still identify them from computerized records. On entry, all international arrivals are checked to see if they have committed a previous crime in Thailand or are the subject of an Interpol warrant.
Worries had been raised formally by Senate members noting recent scandals involving Chinese nationals ignoring work permit regulations or enrolling expensively at Thai language schools simply to extend their stay without any intention of learning. Concerns centered around Chinese citizens being illegally abducted by fellow nationals and tales about Chinese "police stations" operating in Bangkok and beyond. Other reports claim Russians have been found working illegally in Phuket as taxi drivers, whilst Indians in Pattaya were accused of operating restaurants for reasons other than selling food. But some of these claims have proven untrue, or occurred before visa liberalization, and there is scant initial evidence that Thai security is now more threatened than before.
As part of a no-visa policy, Russians receive 90 days on arrival and Chinese and Indian nationals 30 days but only for tourist purposes. This is an attempt by premier Srettha Thavisin to boost visitor numbers post-covid from the main overseas recruiting grounds. The policy change means that the nationals of all most half the countries in the world can enter Thailand without a visa for vacations. But there is no consistency across the board: US, UK and EU nationals receive 30 days visa-free, whereas those from South Korea and several Latin American countries are stamped in for 90 days on each visit. The deal with China, 30 days on arrival, is to be made permanent on March 1 when the pilot scheme ends. The immigration bureau stresses that only bona fide tourists can enter visa-free. Business visas, for example, must be applied for in advance from Thai embassies abroad.
But there are other inconsistencies between visa-free nationalities. Whereas British or European holidaymakers can extend a 30 days stamp for a further month at local immigration – followed by a day trip to the Cambodian border to repeat the procedure – Chinese and Indian visitors are not able to leave and then return by a land border post. Extensions at immigration often depend on showing a return air ticket to the home country in the near future and Thai banks generally are reluctant to allow visa-free foreigners to open accounts. Visitors under the recent visa-free reforms also find it virtually impossible to obtain a Thai driving licence. Ken Thorne, an international visa researcher, told Pattaya Mail, "Thai authorities are understandably using soft power visa reforms to raise cash for the treasury, but the devil is in the detail. He usually is."
Prime Minister Srettha envisions Thailand as a World aviation hub. On Wednesday, he spoke of a reciprocal visa exemption deal with the European Union. The PM, emphasising tourism, praised Suvarnabhumi Airport's success. At the same time, he highlighted past governments led by Thaksin Shinawatra and their dynamic strategies.
The Thai Prime Minister, on Wednesday, outlined another vision. Addressing an audience in Bangkok, Mr Srettha Thavisin proposed building on the government's recently agreed mutual visa waiver with China, by seeking a similar agreement with the European Union in relation to the Schengen zone to allow visa-free travel in both directions. In turn, this could be used to develop Bangkok as a global transport hub.
Prime Minister Srettha Thavisin has set out a vision of Thailand as an World aviation hub. The PM, on Wednesday, said he was seeking to hold talks with European countries for reciprocal visa exemptions.
He was speaking at an event in Bangkok at the King Power Hotel hosted by the Matchicon media group.
Srettha emphasised foreign tourism in the same week that the IMF warned that the country could become too dependent on the industry in its latest report
In his keynote speech delivered at 'Thailand 2024 The Great Challenges', the premier highlighted the importance of tourism. At length, he declared it one of the government's core priorities.
Mr Srettha said several measures including visa exemption programmes would help boost the industry in Thailand.
He confirmed Thailand and China will sign a reciprocal visa exemption programme this week. In turn, the government will pursue talks with the European Union over a similar deal between Thailand and Schengen countries.
Accordingly, Mr Srettha said his government will upgrade the country to a global aviation hub.
In addition, that ambition would involve streamlining immigration procedures, overhauling flights and building airports in secondary cities.
PM spoke of Suvarnabhumi Airport as a success, highlighting the dynamic risk-taking strategy of governments led by ex-Prime Minister Thaksin
The PM, in particular, cited the economic and other opportunities afforded to Thais by key large-scale mega projects.
At the same time, he cited past governments of Thaksin Shinawatra. Mr Srettha for instance singled out the decision to proceed with the construction of Suvarnabhumi Airport.
Previously, that decision was one that generated significant political controversy and opposition. Even when the airport finally opened in September 2006, it coincided with a coup d'état that removed the former premier.
Undeniably, when opened, conservative politicians and 'Yellow Shirt' protesters viewed the airport as a white elephant. After that, it took off and reached the limits of its capacity.
Last year, the government announced a ฿35 billion expansion to the facility. In effect, this will boost passenger traffic by 33% from 45 million to 60 million.
'Over the past two decades we had governments that saw opportunities and seized them,' Mr Srettha said on Wednesday.
Comparison made to the Land Bridge initiative
Likewise with the Land Bridge megaproject.
Mr Srettha once again promised to listen to opinions from all stakeholders including potential investors and local residents.
In summary, the ฿1-trillion project aims to develop a logistics network connecting Ranong with Chumphon. Therefore connecting the Gulf of Thailand with the Andaman Sea.
It was showcased at three international events: the APEC Summit in San Francisco, the ASEAN-Japan Commemorative Summit in Japan and the 2024 World Economic Forum in Davos, Switzerland.
'We listen to not only the public but also investors. It's the government's job to weigh if what they want is positive or negative for the people,' Srettha said.
Mega projects bring opportunities to the country
He urged concerned parties to think about the opportunities the Suvarnabhumi airport has brought to the country. He said this should be remembered when considering the Land Bridge project.
At the same time, he insisted the government welcomes investors from every country equally.
Mr Srettha also touched on the policy of tripling farmers' incomes in four years.
However, he said this would be achieved without intervening in prices or by offering subsidies. Instead, more opportunities will be created through product development, he claimed.
IMF's latest report appears to echo the central bank. It warns against a lack of fiscal discipline and also, significantly, speaks of a dependence on tourism
The Prime Minister's vision comes just days after the International Monetary Fund (IMF) published its latest paper on Thailand. It was released on Monday.
The international finance agency warned that the kingdom may become too dependent on foreign tourism. It pointed to the danger of a geopolitical emergency suddenly impacting the industry.
The IMF also appeared to come down on the side of Bank of Thailand Governor Sethaput Suthiwartnarueput in his tussle with the PM.
The body emphasised that financial stability must be the key priority for Thailand at this time.
Economic malaise caused by structural problems
In addition, the IMF warned of the threat of a 'lack of fiscal discipline' if a more expansionary policy is pursued.
It urged the central bank to be ready to tighten monetary policy if inflation reemerges as a threat. Simultaneously, it predicted years ahead of low growth for the kingdom. In particular, it cited the downturn in the Chinese economy.
Certainly, as with the Bank of Thailand this week, it agreed that Thailand's underlying economic malaise was caused by structural problems.
The country needs more inward investment to create a more productive and competitive economy, it concluded.
Prime Minister Srettha Thavisin outlined plans to transform Thailand into an Asian aviation hub. The announcement was made during his keynote speech at the Thailand 2024 The Great Challenges event. He highlighted the government's focus on tourism and the introduction of several measures to boost the industry, including reciprocal visa exemption programmes.
A reciprocal visa exemption deal will be signed with China this week, according to the premier. Additionally, talks are planned with the European Union to discuss a similar agreement with Schengen countries.
PM Srettha detailed the government's ambitious aim to upgrade the nation's aviation sector, which would necessitate streamlined immigration procedures, flight overhauls, and the construction of airports in secondary cities. He underscored the significance of extending economic opportunities to Thai citizens through major projects, referring to the Thaksin Shinawatra government's decision to construct the Suvarnabhumi International Airport as a past example, reported Bangkok Post.
"Over the past two decades, we had governments that saw opportunities and seized them."
The prime minister also discussed the Land Bridge megaproject, a 1-trillion-baht (US$27,974,450,000) initiative aimed at developing a logistics network linking Ranong and Chumphon. He reiterated his commitment to soliciting feedback from all stakeholders, including potential investors and locals.
The 61 year old Thai PM previously presented the project at three international events: the APEC Summit in San Francisco, the ASEAN-Japan Commemorative Summit in Japan, and the 2024 World Economic Forum in Davos, Switzerland.
"We listen to not only the public but also investors and it's the government's job to weigh if what they want are positive or negative to the people."
While discussing the Land Bridge project, PM Srettha encouraged stakeholders to consider the benefits the Suvarnabhumi Airport has brought to the country. He reaffirmed that the government is open to investment from all nations.
Furthermore, he mentioned the government's policy to triple farmers' incomes within four years without resorting to price intervention or subsidies. Instead, they plan to create more opportunities through product development.
Immigration System Malfunction Causes Passenger Backlog
24 January 2024 14:04
SAMUT PRAKAN, Jan 24 (TNA) – A disruption in the immigration biometrics system occurred early Wednesday morning at Suvarnabhumi Airport, leading to a buildup of passengers and prompting swift efforts to address the issue.
Pol Maj Gen Choengron Rimpadee, commander of immigration officers at the international airport said the system was currently undergoing repairs, causing delays at the immigration counters. This, in turn, extended the time required for the processing of passport checks from the usual 45 seconds per person to over 1 minute.
The malfunction primarily impacted the Automated channels for passport checks, leading to severe congestion during peak flight hours, particularly for outbound passengers. The situation escalated quickly, resulting in long queues extending to the baggage inspection points.
The Immigration Technology Center, overseeing the affected technology system has expedited the resolution. Simultaneously, Suvarnabhumi Airport's immigration checkpoints took immediate action according to their contingency plans, resorting to manual checks conducted by immigration officers and utilizing the airport's application to identify individuals with potential issues such as warrants or overstays. – 819 (TNA)
The Immigration Bureau announced on Monday a major upgrade to its online system for 90-day reporting. This development is expected to alleviate the chronic overcrowding at Immigration offices across the country.
Immigration say the new system will help to streamline the process for foreigners residing in Thailand.
Pol Lt Gen Ittipol Ittisaranachai, the chief of Immigration Police, highlighted this expansion plan, emphasizing the Bureau's commitment to facilitating the stay of international residents in Thailand.
Under Thai law, all foreigners residing in the country on various long-term visas, or rather extension of stays, are mandated to report their address to the Immigration Bureau every 90 days. Despite the existence of an online system for several years, its unreliability had forced many to continue visiting the Immigration offices in person, leading to excessive crowding.
Responding to the need for a more efficient and user-friendly system, the Bureau has revamped the online service. This upgrade is anticipated to encourage more foreigners to opt for online reporting, thereby reducing the physical footfall at the offices.
For those needing to make their 90-day report, registration is now more straightforward. Foreigners can sign up at the link here by providing an email address. It is advisable to complete this registration at least 15 days before the due date of the next 90-day reporting. Following registration, the Bureau will issue a password via email, which can then be used for subsequent logins and reports.
Of course, few foreigners in Thailand look forward to having to submit their 90-day report.
Those of us in Hua Hin are somewhat fortunate that the Immigration office in BluPort is useful and it generally doesn't take too long to submit a 90-day report there. (Pro tip, visit after 3pm).
However, expats in Thailand typically find the 90-day report requirement inconvenient and a hassle.
Which leads to the question, why doesn't Immigration just scrap the requirement?
Thailand's 90-day reporting requirement for foreigners is a part of its immigration and national security policies. There are several reasons why this requirement may still be in place:
Firstly, it helps the government keep track of the number of foreign nationals in the country and their whereabouts. This is especially important in managing overstays and ensuring that visitors comply with the terms of their visas.
Secondly, it's part of the national security policy and by keeping updated records of foreign residents, authorities say they can more effectively monitor and prevent illegal activities.
Additionally, changing immigration policies can be a complex process, involving various stakeholders and considerations. The 90-day reporting has been in place for a long time, and any change would require careful planning and coordination.
The 90 day report is also part of the Immigration's administrative and legal framework. Any change would require a significant overhaul of these systems, which can be resource-intensive and time-consuming.
The requirement allows the government to collect data on foreign nationals residing in the country, which can be used for planning and policy-making purposes.
So it looks like you're stuck with 90 day reporting for the foreseeable future.
BANGKOK (NNT)
