Phuket Development Problems

We have always advocated for years that before you invest in any property in Thailand that you should always speak to a registered attorney first. It has however become clear that many still believe in everything they read on the internet and forums who end up losing their investments in Thailand. Like any other country you always have to consult an attorney who not only speaks proper English to avoid any mis-understanding but also someone who is registered with a bar council. The latest news in Phuket however has simply highlighted the problems which can occur when you invest without applying your mind.

The local news on Phuket with property developments has been carried by the British newspaper the Mirror and also carried by the local newspaper the Phuket Gazette.

PHUKET: A leading UK news tabloid, the Daily Mirror, reported earlier this week that Chelsea football star Joe Cole invested in the Hua Hin Country Club and is now demanding his money back as the project has remained an empty field for the past two years. Phuket has figured into the headline grabbing news as Cole has alleged that local Phuket development firm Lersuang is at fault, and the Mirror claims that calls to the group’s offices were not returned.

Lersuang is the developer of the stalled Turtle Cove, Tamarind Hills, Infinity Heights and Lersuang Village projects in Phuket. There has been much local speculation in the market about the completion of the existing properties, though the company has continued to operate its offices here on the island.

This highlights the problems which can occur when you do not speak to an attorney or have a due diligence done on a villa, condominium or for that matter any investment. Clearly this case does place a damper on the Phuket Real Estate market but what can be learned from it is that you need to investigate any investment carefully. Speak to any of our attorneys in Phuket for all your real estate answers. We are not only the largest legal network in Thailand with branches in all the main tourist centers but also one of the most cost effective attorneys in Thailand. Why settle for second best when the costs are the same?

Speak to us online, by toll-free number or in person today!

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