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buxeda
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imac man,
as we have seen there is some serious risk in owning land in los. in my opinion, there is no return premium for this addicional risk. therefore it is not advisable to run this risk.
what you can think about is owning a condominium in bkk or pattya. no companies, no leasing, no wife. it will be in you name. foreigners are allowed to own less than 50 % of the building. this I would go for when thailand's economy goes south next time.
at the right moment, it is a very interesting investment, because the property market a n d the currency will tumble. (if you are a foreigner and think in another currency than thb).
look through the threads, this has been discussed before.
peace
buxeda
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Thai Girls : Meet Sexy Thai Girls
Posted on: 3:56 pm on July 14, 2004
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manowar
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Yes, it's true foreigner can own condos in Thailand without all the legal hassles. However, condo is very very illiquid when comes selling time. Have you ever looked up the property section in the Bangkok Post ? Hundreds of condos for sale and more new ones coming on line all the time. Another risk in owning the condos is you have better make sure the quality of construciton in a large building like that is top notch. Many things can break down and you will have a hefty maintainence headache and $$$. You are also at the mercy of the building owners' association reg. maintanence and common area issues. Not sure how strong the thai legal system is in protecting consumers against building developer reg. construction defects. My bet is " Not much !". Better just to lease a long term serviced apartment or upscale hotel and you can terminate your residency if it does not meet your fancy at any time with very little loss on your part.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 9:25 pm on July 14, 2004
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Mel Gibson
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Samui looks like a bad investment to me,, never likes the place.
I would suggest a condo in Sukhumvit area,, get an engineers report and a few valuations before purchase. And timing is critical, need to keep an eye on exchange rates and Thai econimical health.
I would be happy to go halves 6 months share each if anyone interested
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Thai Girls : Meet Sexy Thai Girls
Posted on: 1:19 am on July 15, 2004
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imac man
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Any idea on a price for a nice 2 bed condo in a good location ?
Would I be able to rent it out when I am not there and would the rent cover mortgage/running costs ?
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 6:07 pm on July 15, 2004
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Abrak
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A 2 bed condo in a good central Bangkok location will cost anywhere between US$100k and US$220k depending mostly on the size.
The monthly maintenance charge from the condo will be somewhere between US$40 and US$80. Monthly rental US$500 to US$1000 which should just about cover your mortgage payments (in the unlikely event you can get a mortgage).
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Thai Women : Meet Matured Thai Women
Posted on: 10:16 pm on July 15, 2004
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manowar
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I would say Phuket is the hottest place to " speculate " on Thai real estate right now. Major international $$$ are pouring in from HongKong, UK, Australia, US..........etc. But the price has risen so much in the last 2-3 years that it is creating a " bubble" effect. Also the damage to the environment because of the lack of control of the thai authority on the foreign developer is a grave concern to many investors. If anyone is interested in this subject, I would love to have a private discussion about it.
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 10:21 am on July 16, 2004
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yodsaker
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Never forget that loopholes, especially if they favour falangs, can ALWAYS be plugged down the road.
Rent, don't tie up your money in a place where you are ALWAYS at a disadvantage.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 2:50 pm on July 16, 2004
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jack attack
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IMO, condos are the way to go if you really need to "own" something. Financing for foreigners is tough but with 50% down it is more likely.
Thai wives, US corps etc. will be difficult to obtain financing as mentioned here previously and other legal issues need to be navigated.
Phuket is on fire right now and should be avoided until after the bubble breaks. Plus there has been serious land "ownership" issues with several developments that I don't think have been sorted out.
Property is going gang busters in BKK and it looks like another bubble developing here as well. There are not that many falangs wanting to buy condos for US$ 250,000 and needless to say, not a lot of Thais either.
Can't speak for Samui, but it is beautiful. Might be better to just rent a villa when you visit and wait for the Thai ownership rules to change. You may have to wait for your next life tho.
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Thai Girls : Meet Active Thai Girls
Posted on: 3:17 am on July 17, 2004
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ThaidUp
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Right, property values are back up to 1997 levels, that was the time to buy at 25% price (50% TBD devaluation and 50% property valuation). So the market has made up the 50% property valuation, but the THB devaluation remains the same.
Given the time you can get a good deal on a used condo finding the right type of seller.
Also, the reduction of RE transfer tax has been reinstated at Jan 1st 2004 to cool the property market. I think the rate is 3%
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Thai Women : Meet Matured Thai Women
Posted on: 3:22 am on July 17, 2004
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BKK Banger
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The whole business with leases is rooted in the Civil and Commercial Code but I am also told the Roman law concepts of usufruct and superficies can be used.
Perhaps I should explain a bit though my Land Law is a bit rusty and Roman Law is not my field.
Lease
The advantage of a lease is that, unlike the Land Code, the CCC does not distinguish farangs from Thai nationals.
A legal lease can be from 3 to 30 years of land and buildings and can be registered such that it becomes a legal interest, not an equitable interest.
This lease remains in force even if the freehold is sold. The problem is that the renewals are equitable rights and as they cannot be registered they can be overreached by the sale of the freehold. This is all pretty standard for a legal lease and could equally apply in Western countries.
A problem particularly with leases in Thailand is that the lessee cannot sublease, sell or transfer the lease as a registered interest without the lessor's consent.
If you did it would no longer be registered and have protection. Any modifications or improvements would normally need to be with the owner's permission and you may well find at the end that the land owner takes the lot.
Other Tenures
A usufruct interest gives temporary ownership rights and any use is allowed without the owner's permission. This is a personal right and would die with you but it can be freely transferred or traded. Upon expiry the property must be returned substantially unaltered from its original condition. If the property is destroyed the usufruct extinguishes.
A superficies is similiar to a usufruct but can be inherited and is not extinguished by destruction of buildings or structures. Upon expiry the superficiary can remove the buildings but the land owner has the opportunity to first pay the market value. If he does not want them then the building or land has to be returned in its former condition.
Conclusion
Depending on the details of the lease you may find at the end that you have breached the lease by not getting permission for your house and it all goes to the owner. Also the lease may be hard to sell on or require further payments.
I don't own real estate in Thailand......
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 7:24 am on July 19, 2004
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