Allamanda’s Laguna Phuket Condominiums switch to Best Western

Thursday, September 3, 2009

Thailand Real Estate – Owners of Allamanda Condominiums, located within Laguna Resorts, Bang Tao, Phuket have a signed a deal which will see phases two and three re-branded as Best Western Laguna Phuket Resort.

The 120 privately owned, one and two bedroom condominiums will operate as a hotel with a rental pool being shared by the condo owners. Owners and residents of the resort, which is adjacent to The Laguna Golf Course, will be able to enjoy shared facilities including swimming pool and spa treatments as well as facilities offered by Laguna’s other five Phuket hotels.Best Western already operate a number of hotels in Phuket including Bangtao, Pa Klok, Karon and a new hotel opening soon in Patong beach.

Original post:

Allamanda’s Laguna Phuket Condominiums switch to Best Western

Thailand Investment

Some observers are concerned that the 2008 global financial crisis may affect the Thai real estate market. Many see similarities between the current US crisis and the 1997 Thai crisis, particularly in the role played by an over-built real estate sector. To properly analyze the 2008 global financial crisis’s impact on the Thai real estate market, we should first look at the current Thai real estate environment. The Thai real estate industry has grown significantly since the 1997 financial crisis. Although speculation is prevalent in some sectors, we have not experienced a 1997 bubble-like boom. Generally, a real estate bubble occurs when property prices rise quickly in a short period, primarily from speculation – resulting in a supply-and-demand imbalance. When property prices are rising faster than the cost of money and banks continue increasing loan-to-value ratios, funding becomes easier – propelling additional speculation.

Thailand is member of the ASEAN (Association of Southeast Asian Nations) trade bloc and has free trade agreements with India and China, two fast-developing economic powerhouses. Consequently, many multinational companies are using the country as a regional base for its operations or a place to station employees who travel around Asia. Foreign investment in Thailand is constantly expanding, supporting the strong economic growth of the country.

Real estate developers in 2009 are more cautious and many have professionalized their operations

Thailand’s property market was able to rebound from past crises and there is every reason to believe it will be able to absorb the blow of recent political tensions. The taxation situation has actually improved the conditions for purchasing property in Thailand, and if property prices do dip slightly as a result of the current situation it may actually be a good time to buy as there is a very real possibility Thailand property will regain its golden outlook soon. As a result, the financial condition of most major housing developers in Thailand is much more robust than in the past. The development of the local bond markets and increasing domestic savings has the made the industry much less dependent on foreign funds, a significant difference from 1997.

Allamanda’s Laguna Phuket Condominiums switch to Best Western

Falling consumer confidence : The slowing global economy together with unstable local political and economic environments will result in falling consumer sentiment and confidence in Thailand. Consumers will delay home purchases because they will be unsure of current and future incomes – directly affecting real estate demand. The general public will also begin losing confidence in the financial sectors, although not as severely as in foreign countries.