I'm a Thai living in the US. I have been buying and selling properties for over 2 decades. Very fortunately, I came out ahead in my investment. Some buildings the return were greater than the others. Especially in NY, when I sold my rental apartment two years ago, I net 14 times more than I paid. The other day my real estate broker who sold me another property four years ago, called and asked me if I want to sell it. She guaranteed my property would fetch 40% more than what I paid for.
I can not say the same to my land in Bangkok.
Bought in 1993, so far I got only few offers, and worse, the offers were far below what I paid for. That was the first and last property venture in Thaialnd for me.
I take this as a life lesson.
Older and wiser
LAND DEAL TURMOIL
Revocations, seizures unlikely in probe, at least at first
Officials investigating alleged illegal occupation of prime land plots on Koh Samui's mountains have warned people not to expect dramatic results, at least initially. The Lands and Forestry departments are investigating alleged forest-land incursions by the country's top land developer and a local businessman.
A member of the Land Department's inquiry panel said although an initial inquiry had shown that the land plots were unlawfully obtained, authorities might neither confiscate the land, nor revoke the land ownership documents in the near future.
''We have to be sure that our decision to take legal action against the land owners will not backfire. We must not lose the case if the land owners counter-sue,'' said Prateep Charoenporn, deputy Land Department chief.
Mr Prateep said another internal committee would be set up to review the result of the investigation before the case is sent to court. The process might take at least a month.
This internal committee, however, is likely to come up with similar findings to the Forestry Department's inquiry team.
The land in question includes a 96-rai land plot on Khao Duang Nok and a 451-rai plot on Khao Dang in the northeastern part of the resort island.
The inquiry into the alleged illegal land acquisition started last month after an owner of The Peak project advertised the land for sale at prices up to eight million baht per rai covering more than 500 rai of land on Khao Dang mountain.
Caretaker Natural Resources and Environment Minister Yongyuth Tiyapairat last week said the ownership of 96-rai plot on Khao Duang Nok was unlawful and he would revoke the land ownership document.
Mr Yongyuth, also chairman of the national land committee, said the case had brought to light a conspiracy between state officials and land development investors involving the illegal issuance of land right documents on Samui island.
According to a source in the Samui land scam inquiry panel, officials earlier believed that the 96-rai plot was part of The Peak project, located on nearby Khao Dang, because the land's owner had claimed he worked for the operator of The Peak project. However, they later learned the 96-rai plot might not be part of The Peak after all.
The land under investigation comprises five land plots. Four plots had land title deeds, while the other plot is secured under a sor kor 1 land occupation paper, which was in the process of being upgraded into a title deed, said the source.
But an examination of aerial photographs found the sor kor 1 paper belongs to other land plots outside the 96-rai area, the source said. The combined size of the sor kor 1 lands was also smaller than the actual land area.
Land ownership of the 96-rai land plot should be revoked, and the land seized by the state, he said. Regarding the investigation of the 451-rai plot under The Peak project, officials found that over 100 rai was open to question. Customers, all foreigners, were now reluctant to lease The Peak's land plots, a staff member from The Peak project said.
The controversy over land development projects resulted from the government's unclear policy on public land management, and inconsistencies in the process of issuing land right documents, he said.
Samui natives tended to make false claims about the amount of land under their occupation to avoid paying large amounts of land taxes.
''We have already become the culprit even though the investigation is not yet complete,'' he said
One for Rooster. You seem to be mighty proud of your association with the US of A. Why don't you go back to school there (the VA runs assisted schooling - or did) and learn how to spell and write English which is readily understood?
Tom the Pom
Unfortunately, Thailand is not Cyprus and Cyprus is not Thailand.
These two countries are completely opposite in every which way.
You seem like the Cyprus runs it course of laws on foreigner's property ownership. It would be wised if you move and live there or any place that the laws favor your liking.
Leave Rooster alone !
It's not very nice of you to attack anyone personelly. I'm one of the regular forum readers for the past four years. I had come to admire some of the authers on these postings. They are intelligent, worldly knowledge, trueful and logic.
WHY does it concern you if Rooster is fiercely protec the US ? Why ? Why ?
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