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Research Journal of Business Management
  Year: 2015 | Volume: 9 | Issue: 1 | Page No.: 88-105
DOI: 10.3923/rjbm.2015.88.105
 
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Determinates of Foreign Real Estate Investment within Thailand’s Special Autonomous Systems (SAS) of Bangkok and Pattaya City

Natthapat Teeranantawanich and Wanno Fongsuwan

Abstract:
Thailand’s real estate laws can at times be difficult to navigate with Bangkok and Pattaya’s special legal status for foreign real estate investment even more so. These special autonomous systems, however thrive with both commercial and residential real estate transactions with the Board of Investment and Industrial Estates playing a key role in Thailand’s growth. In 2015, Pattaya alone is projected to have 10 million international and domestic visitors contributing $3.26 billion to the local economy. Japan currently leads international investing but with southeast nation economic integration in 2015, other community members will take a bigger role. As such, the researchers undertook a study to explore the various factors affecting the reasons for foreign real estate holdings. These included government policy, the economy and investment factors and social and environmental conditions. Quantitative survey input came from 301 parents of international school students, expat groups and condominium owners. Qualitative data was secured from 10 senior executives involved in real estate transactions as well as individuals from Thailand’s Board of Investment promotion agency. The study revealed that due to limited ability of foreigners to hold property, other mechanisms such as nominees, Thai nationals and wives were commonly used. Additionally, foreigners were sensitive to the 6.3% land transfer tax which they considered quite high. Overall government policy, internal economic factors and the environment (flooding, etc.) and infrastructure (sea and airports, roads, power, etc.) played key roles in foreign investment decisions.
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How to cite this article:

Natthapat Teeranantawanich and Wanno Fongsuwan, 2015. Determinates of Foreign Real Estate Investment within Thailand’s Special Autonomous Systems (SAS) of Bangkok and Pattaya City. Research Journal of Business Management, 9: 88-105.

DOI: 10.3923/rjbm.2015.88.105

URL: https://scialert.net/abstract/?doi=rjbm.2015.88.105

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