South East Asia News

South East Asia News

TAT Introduces Thailand’s Luxury Travel Package to Affluent South Korean Tourists

The Tourism Authority of Thailand (TAT) has released a luxury vacation package for wealthy South Koreans named “Amazing New Chapters: Discover Luxperience in Thailand.” The package includes round-trip business class airfare on Asiana Airlines and a five-night stay at the luxurious Siam Kempinski Hotel Bangkok for around 12,000 baht. The TAT’s marketing effort aims to attract high-spending visitors, those who plan to stay for an extended period, honeymooners, couples, millennials, and families to Thailand. Five-star hotels, premium rooftop bars, Michelin-starred restaurants, cruises, expensive vehicle rentals, private boats, and helicopter tours are part of the Discover Luxperience initiative, which is part

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South East Asia News

Thailand’s Mushroom-Shaped Airbnb You Must Experience

Leafy Green is a sustainable eco-retreat center in Chiang Mai, Thailand, that will make you feel like you’ve stepped into a scene from a contemporary “Alice in Wonderland.” Gie Anywhere, a digital nomad, claims that the outdoor paradise comprises five enormous clay fungus strongholds, two cottages dubbed the Peanut House and Snail Dome, the greenery room (an upstairs apartment), and a big inside meditation area appropriately named the Lotus Dome. The organic vegetable and herb garden is nestled against an alfresco kitchen, pizza oven, and barbeque. Also, a few cats live on the premises permanently. According to its listing on

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Investments

Thailand has abandoned plans to sell land to foreign buyers.

Opposition parties vehemently opposed the government’s proposal to allow foreigners to acquire land for housing in Thailand, labeling it as detrimental to the nation’s sovereignty. They argued that such a move would essentially amount to “selling out” the country’s valuable resources. Government spokesperson Anucha Burapachaisri announced during a recent cabinet meeting in Bangkok that the proposal was being withdrawn for further evaluation. He emphasized the government’s commitment to considering public sentiment and feedback on the matter before any decisions are finalized. Prime Minister Prayuth Chan-Ocha addressed reporters, clarifying that while the initiative is temporarily on hold, it is not entirely

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South East Asia News

Government supports land sales to foreigners.

The government has defended a law letting four categories of foreigners seek authorization to purchase up to 1 rai of land, provided they invest at least 40 million baht for at least three years. According to government spokesperson Anucha Buraphachaisri, the law is only an update to the ministerial rule that has existed since 2002. According to him, if the change is approved, it will apply to four categories of foreigners who hold Long-Term Resident (LTR) visas under a recently implemented program to promote foreign investment. He stated that the targets are high-net-worth individuals, wealthy retirees, work-from-Thailand professionals, and highly

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Featured

Phuket real estate fluctuates in response to urban flight

The real estate market in Phuket, Southeast Asia’s top resort destination, is seeing drastic changes due to urban flight and a steady influx of new lifestyle inhabitants. The rising demand for detached houses and more enormous condos has become the island real estate mantra. Since 2019, when over 9 million sun seekers visited Phuket, the island has seen a dramatic shift. Most of these visitors came from mainland China. At that time, condo developments catering to first-time investors sprung up around Phuket. Many carried hotel chains’ names and assured high rates of return. However, COVID-19 quickly put a damper on

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Australia News

Australian borrowers will highly experience mortgage stress due to high rates

How many Australians are now likely to have trouble with their mortgages? The sharp rise in mortgage rates over the past few months will force families to make complex changes to how they spend their money. What is mortgage stress? There is no official definition of mortgage stress, but it is when a family has trouble making home loan payments. People who spend more than 30% of their income on mortgage payments are often used as a measure. However, it doesn’t do an excellent job of expressing this idea. Situations are different for everyone. This is usually easy for households

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News

Why these are the top spots to buy property in Southeast Asia

Southeast Asia has emerged as a key asset location with superior long-term growth prospects, thanks to the region’s economic potential and pandemic management. KUALA LUMPUR, MALAYSIA. It manages to ooze exotic multi-ethnic appeal while offering the facilities, infrastructures, and comforts of a world-class modern metropolitan centre, having transitioned from a modest, thatched-roof tin-mining town in the mid-1800s to a well-connected high-tech city today. Internationally acclaimed restaurants coexist with hawker centres, and quaint old shophouses and ancient colonial structures provide a contrast to the gleaming towers and modern condominiums. BANGKOK, THAILAND. Bangkok sustains much of its originality and charm despite its

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Hong Kong News

JLL: APAC commercial property transaction volumes to improve by 15-20% in 2021

The pandemic accelerated industry trends and revealed an exciting ‘opportunity in obsolescence’ in Asia’s commercial property sector As we enter the second year since the coronavirus pandemic wreaked havoc in the world, we are now starting to see some positive light. Outlook for commercial property in Asia is improving as industries stabilise and growth areas prop up demand for office spaces. Traditional sectors like finance and service were hit hard by the coronavirus pandemic, but this may not be fully attributed to the virus. Talking to Bloomberg Markets Asia, JLL APAC CEO Anthony Couse said that the pandemic only accelerated

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News

Why Penang still tops the Malaysian holiday home market

Next to Kuala Lumpur, Penang is probably the most highly urbanized island in all of Malaysia. It is home to more than 1.7 million Malaysians who enjoy high standards of living but with considerably minimal costs than that of KL. Although a haven of development, Penang still houses the charm of the old-world – breathtaking coastlines, lush greenery, nature parks, wild animals, to name a few. This is primarily the reason why both foreign nationals and locals are drawn to getting their prized properties in the region. Realty developments in Penang are mostly centred in its capital city, Georgetown. The

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News

Trump scrubbed out of Indonesian leisure project

The trajectory of Donald Trump’s plans to establish The Trump Organization’s presence in Indonesia has taken an unexpected turn, encountering various obstacles along the way. Overview of the Project: Originally envisioned as a sprawling Rp35tn (S$3.2bn) leisure complex, the project aimed to introduce an array of residential homes, country clubs, and leisure resorts to Southeast Asia. In collaboration with Indonesia’s MNC Group, it aspired to create “the first integrated Trump Resort and Residencies in Asia.” Initial Enthusiasm: The initial stages of the project were marked by enthusiasm, with Donald Trump Jr. gracing a pre-launch event in August 2019. The event

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