Phuket’s Property Troubles Keep Coming

by Admin on September 25, 2015

Despite the glorious sun and beautiful beaches, yet more stories are pouring in regarding the Phuket property market, suggesting more than a little trouble in paradise.

Image Credit: Colm Britton (Flickr)
Image Credit: Colm Britton (Flickr)

As the BBC reports, over 100,000 foreigners have chosen to make Phuket their home, many coming for what they hope will be a comfortable retirement.

Unfortunately, due to investments going awry, many expat’s dreams have turned sour.

Real estate lawyers in Thailand Chaninat and Leeds have decades of experience helping condo and land buyers and owners in Thailand get the best possible legal care.

Speaking to the BBC, British expat Ian Rance is now virtually penniless, having lost over $1.5 million in investments.

Unfortunately, Ian is one of many expats who have been defrauded in Thailand.

Read Ian’s story as told by the BBC here.

ThaiLawForum reported of an impending Phuket property bubble burst back in 2012, and it seems the situation is going much as we feared.

Foreigners in Phuket have also been in the news in recent weeks due to a crackdown of foreign owned businesses, due to violations of the Thai Foreign Business Act.

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