8
CONTENTS Euro Design Moving “Uptown”
8
Feng Shui for Relationshi ps and Love-How Buying a Condominium Unit? Proceed with Diligence
10
Thailand A Place to Live and Invest Feng Shui In The Bedroom Property News
12 15 16
10
Editorial At a time when many businesses are tightening their belts, Property & Investment is looking positively to the real estate future and recommend investors and buyers to be active now as it is still the buyers’ market. Our RELAX Top Property Team is pleased to give you all the assistance and support. RELAX Top Property Team is confident that current market conditions are very optimistic for buyers. There are many areas in Thailand and especially Pattaya where prices have now stabilized to more reasonable levels rather than the rapid increases experienced three years ago. This can only benefit the market by attracting additional new buyers to invest in a more stable environment with a broader choice of property and prices. Some real estate prices are currently very inviting to buy and invest! Derzeit einige Immobilienpreise hier sind sehr viel versprechend und ermutigend zu kaufen und zu investieren!
بعض أسعار العقارات في الوقت الحالي هنا في تايالند مشجعة للغاية للشراء واإلستثمار
12
ขณะนี้ บางราคาอสั งหาริมทรั พย์นี่มีความสนั บสนุ นการซื้ อและการลงทุ น Publisher Sudaporn Changthong
Euro Design Moving “Uptown”
In
1999, Euro Design Furniture Co. Ltd. opened its doors led by Mr. Heinz Pichler, and Mr. Luc Parietti.
“We provide top-to-bottom new interiors for homes, offices, and even factories. We produce a wide array of quality products including free standing furniture, built-in furniture, and customized interior solutions. The secret to our success is combining high quality furnishings, a simple elegant style, and extensive knowledge of interior design. The results are coordinated and result in distinctive
environments that find harmony between form and function.” Euro Design Furniture has just moved to a new 600sqm showroom ideally located on Sukhumvit Road, right next to the new McDonald’s. They have emptied the old showroom and have created the ultimate furniture showplace. Entire kitchens, living rooms and bedrooms are featured allowing customers to visualize what living “Euro-style” can be like. “The big new space and parking lot are just more inviting,” say Luc, “and we needed a much bigger place to showcase what we really do best: build quality furniture.” Euro Design continues to create breathtaking modern designs and produce superior kitchens and all manner of furniture, but they have formed a consortium of suppliers to provide other interior details like lighting and custommade leather sofas. Last year, Euro Design formed the Trio Group, a cartel of interior design suppliers that work together rather than in a competitive mode.
3
. Finally, the right space presented itself at the right time; the size and location of the new showroom is a quantum leap for Euro Design. The design of the new space allows visitors to experience the sheer variety of choices available in the many product lines.
Members of the group include PP Design, directed by award-winning lighting designer Peer Piechnik, and Asalon, internationally renowned manufacturers of some of the highest quality leather furniture on the planet. With outlets in Pattaya, Phuket, Hua Hin and Bangkok, the members of The Trio Group are difficult to beat on quality, price and service. The three main factors that have justified Euro Design’s move uptown are:
1
. The Pattaya market has matured. Customers are now demanding quality in both built-in custom furniture as well as loose pieces like dining tables and chairs.
2
. Euro Design has had to change its business model to optimize their asset usage. Instead of using the old vertical model of top-top bottom project control, Euro Design now focuses on running their factory like one big well-oiled machine, dominating in their role as furniture supplier.
Euro Design’s craftsmen have worked hard to get the new showroom up and running, for the benefit of discerning residents in the Pattaya area. After the recent soft opening, Luc and his team are planning a Grand Opening party and Sales later this year.
Please visit the new showroom on Sukhumvit Road. Tel: +66(0) 38 373 910-1 Fax: +66(0)38 373 902 E-mail: admin@euro-design-furniture.com
Buying a Condominium Unit? Proceed with Diligence
T
he legal way for a foreigner to own real estate in Thailand is to buy a condominium unit(s) (“Condo Unit�). This was proposed in my last article on foreign land ownership. In Bangkok, Condo Unit purchases are now considered trendy among the younger generation of Thais as condominiums are conveniently located in the inner city area and it is more economical to commute. RELAX TIP Whether you are going to buy a Condo Unit to reside in or for investment purposes, I would like to walk you through the following due diligence steps: (1) If you can narrow down your choice of Condo Units to 1 or 2 Condo Units, a physical inspection must be conducted by an expert or civil engineer on the Condo Unit and the condominium 10
building. Are they as according to the promises made by the seller ? Checks should be conducted for water leakage in the Condo Unit, proper and safe electricity supply, adequate car parking spaces allocated, fire exits, correct building materials used. (2) What is payable by an owner of the Condo Unit for up keeping? e.g. common facilities fees, water charges, electricity charges. Who should they be paid to and how much are they? Find these out from the owner of the Condo Unit. (3) If (1) and (2) above are satisfactory to you, request from the owner of the Condo Unit a copy of the Condo Unit Title Deed. Take this to the local district or Amphur Land Office and counter check with the original Title Deed kept there on:
(a) Who is the owner of the Condo Unit? This owner should be the person whom you are dealing with and signing the contract to sell you the Condo Unit. If the owner is a company limited, who can sign on behalf of this company ? Does the company limited have enough capital to complete building the condominium ? The answers to these questions can be obtained from the incorporation records of the company limited at the Ministry of Commerce; (b) Is the condominium building registered at the Land Office?; and (c) Does the original Title Deed reveal any registered encumbrances, lease, mortgage or charges ? (4) Have a lawyer peruse the conditions of the Reservation Contract or To Sell and To Buy www.ReadRelax.com www.readrelax.com
Condo Unit Contract prior to signing it. Legally speaking, this Contract does not create any property rights for you yet because the Condo Unit ownership title will transfer to you at a later date. This Contract is binding only on the promises of both the seller and you that ownership title transfer and sale of Condo Unit will take place at the agreed upon later date.
make a one time payment of the whole purchase price at the sale and upon ownership title transfer of the Condo Unit to you. Alternatively, you could arrange for a neutral escrow agent to hold your money and hold the original Title Deed (Note: Under the new Escrow Business Law, effective on May 19, 2008, an authorized financial institution or commercial bank can provide escrow agent services).
However, the risk exposure to you here is that, at the signing of this Contract, you are usually requested to place a deposit with the seller. If the seller does not sell and transfer ownership title of the Condo Unit to you at the agreed date, you will have to claim from the seller in court for breach of Contract to get the deposit back.
(5) Clarify with the owner who is responsible for the ownership title transfer fee, income tax and specific business tax or stamp duties payable at the Land Office on the day of ownership title transfer. Unless agreed otherwise between the owner and you, you are only legally responsible for 50% of the ownership title transfer fee.
As a result, I do not recommend the signing of this type of Contract. You should
www.ReadRelax.com
Please note that the amounts payable here can be calculated for you by an official at the Land Office.
(6) Make sure that the owner has obtained from the Condominium Juristic Office the following: (a) A letter verifying that foreigners have ownership in condominium units not exceeding 49% of the total space of all units in the condominium building; and (b) A letter verifying that the owner has no outstanding debts owing to the Office. (7) You have obtained the required bank document to verify that the purchase price for buying the Condo Unit was remitted into Thailand. Written by David Tan The writer is a lecturer of Business Law at Asian University and author of many law and legal books and articles. Any comments or questions to David should be sent to blas.inter@yahoo.com
11
Thailand A Place to Live and Invest Thailand has many factors to recommend it as an investment and living destination, not least of which is its stability.
W
e would like to offer our readers and clients the opportunity to have comprehensive information regarding high quality projects, condominiums, houses and villas. Contact our RELAX Top Property Team and they will select for you the projects which have high values and incorporate extremely high quality construction materials and workmanship, to ensure that your investments will bring you the highest yields. Learn in this article why property in Thailand and Pattaya offers such good potential as an investment. Currently, investors seek the stability and simplicity of the property market to gain good returns on investment. Stock markets are often more volatile than property and too risky for many - this is especially true for the non-professionals as there are many external factors that can effect your financial and stock investments.
» Stocks or equities can be very volatile. Property however is traditionally very stable over the long term and historically has generally gained in value.
have capital gains as well as rental income.
» For example, a property in the seventies worth only € 5,000 would be worth more than € 300,000 today.
There are countless reasons why to invest in Thailand and Pattaya, here some of these reasons:
» Statistics show that half of the richest people in the world made their money through investing in property. Investing in property can benefit investors in three ways: » Buy to let and periodic rental » Buy before construction is finished (off plan), to sell at a substantial profit prior to completion » Buy to let and sell later at a higher price; this way investors can
The question now is why to invest in Thailand?
» Attractive holiday and leisure destination; it is well established as a tourist destination with an enormous variety of entertainment for families and individuals. » Excellent infrastructure as well as world-class facilities such as hotels, resorts, hospitals, spas, restaurants, shopping venues and transportation. » The living costs are very reasonable; this is also attracting millions of foreigners Pattaya is also a very attractive retirement destination. » Thailand’s government considers foreigners are a big asset to the Thai economy and they are actively welcomed and encouraged to invest in Thailand, including Thailand Elite Card which offers many privileges, » And last but not least and despite all the odds, Thailand is seen as a friendly country; ‘the land of smiles’, to visit, invest or live in. If you need more information please do contact RELAX Top Property Team on 038 233 490 0r at info@readrelax.com, we will be pleased to assist you.
12
www.ReadRelax.com www.readrelax.com
For more details, please contact Property & Investment Team at 038 233 490 or E-Mail: property@readrelax.com
Feng Shui In The Bedroom F
eng Shui concepts can be applied to every room in your home, but the bedroom is among the most critical. A good Feng Shui bedroom promotes a vital flow of sensual, nourishing, love energy. In the proper Feng Shuibedroom, every item reflects the desire for intimacy, romance, love, healing, relaxation and sleep. Ensure you treat appropriately the Fenh Shui energy of the southwest area, the relationship sphere. Use lovespecific Feng Shui remedies, like twin objects; rose quartz crystals, etc. Start by Eliminating Rubbish Rubbish represents negative energy and is associated with chaos, failure, exhaustion, depression etc. Accordingly, the first essential is to ruthlessly clear clutter away and allow ‘Chi’- universal life energy-to flow freely. The Right Bed in the Right Location The most crucial item in a Feng Shui bedroom is the bed. 14
Purchase the best bed you can. A good looking and wellbalanced bed is vital in creating a perfect Feng Shui bedroom. Location is important, too: You should be able to see the bedroom entrance from the bed. The bed must have balanced Feng Shui energy on both sides. This can be created with equal space, two bedside tables and two bedside lamps. Never use space under the bed for storage; there must be free flow of energy. Place romantic items in the Feng Shui bedroom, like crystals and love-hearts to nurture your love life. Select the Right Colours The best Feng Shui bedroom decoration is a balanced one that promotes the best flow of energy for healthy, invigorating sleep and sexual healing. Use soothing colours to attain a good Feng Shui balance. Flesh tones make the best Feng Shui bedroom colours.
Select the Right Wall Decorations Choose the images for your bedroom wisely, as images carry powerful Feng Shui energy. Choose paintings of restful scenes, sensual, romantic or relaxing art. Select Appropriate Lighting Candles are the ideal Feng Shui bedroom lighting, but ensure you buy non-toxic candles. Candles refine the energy of any given space. Use pink candles for romance. Essential oil aromatherapy candles induce relaxation or stimulation and also smell luxurious. Encourage the Right Air Flow You can’t have good Feng Shui in your bedroom if the air you breathe is stale and polluted. Open the windows frequently, or use a good quality ionizer and close doors at night. Follow these guidelines and your bedroom will be Feng Shuiready and open for a strong flow of love, replicating the beauty of the love relationship. www.ReadRelax.com www.readrelax.com
Zire Wongamat The Zire Wongamat project comprises two residential towers 37 and 54 storey’s respectively together with Car Park building, Beach Club and landscape gardens. The existing EIA and building permit are in process of being modified to accommodate the latest design and Unit Mix changes and are due to be completed by May 2011. Piling works are programmed to commence June 2011 once building permit has been issued. Tendering of the main building contracts will be run concurrent with the piling works. Currently an advance works package comprising Beach Club, incorporating a Show Unit and sales office facilities, swimming pools and landscape beach frontage has been started on 18th March. Current progress sees completion of the piling works, substructure and main drainage around the Beach Club. Peripheral and site drainage is ongoing together with the completion of earthworks for the landscape areas. Drainage retention tank and pool pump room base slabs and walls are complete awaiting cover slab. Beach Club substructure, floor slab, columns and roof slab have been completed. Mechanical & electrical first fix works together with water supply tanks and septic tank drainage are almost complete. The advance works are currently on programme and are scheduled to be completed by end June 2011.
Reflection Cocktail at Sunset Recently Major Development PCL hosted a reception “Reflection Cocktail at Sunset” for agents as a valued supporter to the project at the Reflection Sales Gallery Jomtien Beach Pattaya at which they have announced a new commission structure also as an incentive for the top selling agents between now and the end of July will received a 3 day, 2 night tour package for 2 people at the glamorous Marina Bay Sands Resort in Singapore.
16
www.ReadRelax.com www.readrelax.com