A project is set to be launched with the aim of providing fairer treatment for residents and tenants in Thailand, and to put the kingdom’s regulations in line with international standards.
Pongpun Gearaviriyapun, Director General of the Thai government’s Business Development Department, said yesterday she is discussing the plans with the Thai Condominium Association and Housing Business Association.
The move comes ahead of the introduction of the ASEAN Economic Community (AEC) at the end of next year, when Thai businesses will face increasing competition from their regional counterparts.
Opinions are divided as to how much impact will be seen in Thailand’s property and real estate sectors when AEC 2015 comes into effect, although more overseas workers are expected to live and work in Thailand in some sectors of business.
Pongpun said her department will use models from the U.S., Hong Kong and Australia, and that plans are expected to be finalised and implemented next year.
She added that the plans will also help to improve the competitiveness of Thailand’s property businesses who wish to expand into other Asean countries.
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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