Phuket Property Watch Your Eyes on Real Estate in Thailand
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The Thai property market has seen a series of unfortunate events this week, with the recent construction accidents taking center stage. The construction industry has been shaken by a series of deadly accidents as reported by Nikkei Asia. Notable incidents include a crane collapse that resulted in two fatalities, and another crane-related incident that led to a train derailment, claiming 32 lives as reported by New York Post. These incidents have raised serious concerns about the safety standards in the construction industry in Thailand, with one of the construction firms being blacklisted amid public outcry. This could potentially impact the pace of ongoing and future property developments in the country. On a positive note, the unveiling of The Residences at the InterContinental Phuket Resort by IHG and PROUD is a notable development. The project, highlighted by Travelling for Business, is a welcome addition to the luxury property market in Phuket. In other news, Siam Legal International has issued a warning to foreign nationals regarding potential criminal liability risks under the Thailand Law Firm Enforcement Framework. This is a crucial piece of information for foreign investors looking to invest in the Thai property market. Despite the recent challenges, it is clear that the Thai property market is still a vibrant and dynamic arena for both local and international investors.
