There has been much publicity this week about what has been touted as being the ‘biggest’ UK property show in Bangkok that’s happening this weekend.
I’m being careful what I write for obvious reasons, but if you’re planning to go PLEASE conduct some of your own simple due diligence first
On this website I have often suggested that people should Google the name of their intended developer, along with a series of negative words, to ascertain whether that developer has a good track record of satisfied customers, or otherwise.
In the case of UK property developers, there is also the government’s Companies House website where you can collect free and paid-for information about the company, its directors and its accounting history.
This weekend’s subject developer is one I am very familiar with, and one that has caused pain in other parts of Southeast Asia.
Again, that simple Google search can help you to know more.
No Thai real estate agency appears to be involved in this event, and the U.K.-based agent that, at least from the advertising, as recently as 18 months ago was classified as being dormant with a value of just GBP 1.
To be fair, the developer has completed some projects but, for various reasons, some of its planned student accommodation investments have since been turned into budget hotels.
Do not be swayed by the mass of media advertising that will have cost this developer a substantial about of money; I saw the same thing happen in Malaysia and Singapore before previous property exhibitions there.
Why has this developer now emerged in Thailand?
My guess it because they can? Thailand’s property and real estate sector is unregulated, and until such time as it happens, Thai and expat investors will run the risk of losing money to anyone with less than honest intentions.