The recent collapse of a 33-story building under construction in Bangkok, Thailand, reportedly caused by the aftershocks of a major earthquake in Myanmar on the 28th of last week, highlights the significant risks associated with real estate investment in emerging markets.
The unprecedented outrage expressed by the Thai Prime Minister, who questioned why only the Chinese-constructed building collapsed while others remained intact, underscores this point.
Following the incident, four Chinese individuals were arrested by Thai police for attempting to remove documents from the collapse site.
Bangkok police subsequently charged these four individuals and their employer with violating regulations by removing blueprints and 32 documents from the scene.
This attempt to conceal evidence understandably provoked anger from Thai authorities, reminiscent of the Chinese government’s attempt to bury high-speed train wreckage after a major accident.
As a private banker who has conducted real estate investment research in Bangkok at the request of clients, I have witnessed alarming realities.
Many private bankers and real estate brokers, driven by high commission fees, often fail to disclose the truth.
Before succumbing to enticing investment opportunities, it is crucial to understand the inherent risks of real estate investment in emerging markets like Thailand.
