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UKYorkie
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This may be a bit off the wall, but there is a nagging doubt in the back of my mind that once there is lots of condos sold to rich (in Thai terms) falangs, whats to stop the Thai goverment just changing the rules and deciding they want these falang out to provide housing for local Thai etc and do a compusulary purchase for 50% of the market value.
That or something like that........ TIT after all 
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Thai Girls : Meet Sexy Thai Girls
Posted on: 5:34 am on June 3, 2005
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Broken Leg
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They could theoretically, it's their country they can do what they like, TIT as you say. but for capitalism to work you have to have respect for Law - contract and property and it would be extremely counterproductive in terms of foreign investment if they were to do something like that.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 5:42 am on June 3, 2005
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DaffyDuck
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I'd have to agree with Khun Broken Leg on that - seeing as how the Thai gov't appears to be bending over backwards to attract more foreign investors, it seems unlikely they would do anything like that - at least in the current incarnation.
Regionally, Thailand seems to have evolved into one of the more stable societies, at least right now.
Of course, nothing's to stop another military coup, or maybe the communists rise to power, and everything gets nationalized, and you will have to share you condo with a dozen of assigned Thai co-live-ins (avoid this fate by offering your space to a dozen hand-picked BGs).
You take risks wherever you go.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 9:13 am on June 3, 2005
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Stueyb
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One thing I have noticed about BKK property developers / condo architects is that they seem to assume that big is beautiful. I've noticed a distinct lack of nice proportioned 1-2 bed units. It seems to me they either build blocks with horrible small one room units for the cheap end of the market or the other extreme of huge 3-5 bedroom units for the hi-so's. It seems almost impossible to find a decent place for a single man or couple without kids who want a bit of space without requiring an indoor football pitch.
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 9:47 am on June 3, 2005
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Oaktoad
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"I've noticed a distinct lack of nice proportioned 1-2 bed units. It seems to me they either build blocks with horrible small one room units for the cheap end of the market or the other extreme of huge 3-5 bedroom units for the hi-so's. It seems almost impossible to find a decent place for a single man or couple without kids who want a bit of space without requiring an indoor football pitch. "
Yup, that is the case.. lots of 30-40 metre places, but much harder to find well laid out 60-80 metre places that would be great for single guys or couples.
I think the thing they do is build for Thais (surprising huh??).. Thais either can't afford big places so can only go for small.. or if they can afford they want space as that is 'face giving' and also allows for having more people live there..
Most condos are sold to Thais.. the risk of them taking back all the farang owned (I will throw the Japanese and other Asian ownership in with this) is really rather low.. they only allow 40% to be foreign owned and most places I have been the percent seems to be less than that, with the exception of the Thonglor area where Japanese ownership is high, but many are owned by companies and I don't see the Thai gov't wanting to piss off Japanese companies.
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Thai Women : Meet Matured Thai Women
Posted on: 10:08 am on June 3, 2005
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manowar
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I saw the "Met" condo development on my last trip. It's not yet built. It's developed by a very well known international Singapore developer and will be the best and the tallest bldg in BKK. I put my name down for a unit but am considering pulling out now. The inherent risk in buying a condo in BKK is too much for farang to bear. First, they do not use an escrow account. Basically, you hand the cash to the agent ( Risky, risky, risky) and they give it to the owner. Then you two meet at the government land office and the owner signs off the deed. No title insurance, very little due diligence allowed........etc, etc. The biggest deal breaker is there is no mortgage available for farangs. You are 100% at risk with your capital ! Risky, risky, risky.........
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 10:20 am on June 3, 2005
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DaffyDuck
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How much were you talking about, regaring MET?
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 11:19 am on June 3, 2005
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dotcom
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Taller than Bayoke Sky Tower? That is tall indeed.
You don't need title insurance - since the government land office will know if the "Chinote" is free & clear. They will also assess the value of the unit, & present the seller with the sales tax bill 3% or something like that (others may know better).
Don't hand over any cash till you get to the land office. Again others might have better (different) information.
Since the Thai's don't want a square inch of their sacred land to fall into the hands of foreigners (unless you happen to be a Japanese company) it is very unlikely the government would change the rules on Condo ownership. More likely they woild say "Beginning January 1, XXXX condo & apartments may only be sold to Thai nationals" That would accomplish the same thing without pissing a lot of people off. Very Very unlikely. Great input by all.
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Thai Girls : Meet Active Thai Girls
Posted on: 11:43 am on June 3, 2005
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manowar
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Quote: from DaffyDuck on 7:31 am on June 3, 2005
How much were you talking about, regaring MET?
upper floors (50th +) are being quoted from 100-120,000 bahts/m.
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Thai Women : Meet Matured Thai Women
Posted on: 12:10 pm on June 3, 2005
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manowar
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Quote: from dotcom on 7:55 am on June 3, 2005
Taller than Bayoke Sky Tower? That is tall indeed.
You don't need title insurance - since the government land office will know if the "Chinote" is free & clear. They will also assess the value of the unit, & present the seller with the sales tax bill 3% or something like that (others may know better).
Don't hand over any cash till you get to the land office. Again others might have better (different) information.
Since the Thai's don't want a square inch of their sacred land to fall into the hands of foreigners (unless you happen to be a Japanese company) it is very unlikely the government would change the rules on Condo ownership. More likely they woild say "Beginning January 1, XXXX condo & apartments may only be sold to Thai nationals" That would accomplish the same thing without pissing a lot of people off. Very Very unlikely. Great input by all.
no title insurance is a risky business because if there is a dispute later, where is the buyer's recourse ? sue the Thai government ? Also, when you sign a contract, you would have to give a deposit which is being held by the agent. What if the agent runs away with your deposit ? In a major purchase, the depost can be substantial. And of course we can all trust our real estate agent who we have just met for the first time to safekeep a couple of million bahts........not !
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 12:30 pm on June 3, 2005
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