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Originally Posted by LivinLOS
Good investment.. Depends on what happens.. Very risky investment IMHO (over development, terror issues, biz issues, the changing face of Phuket, etc) Phuket is probably the most expensive real estate outside of Bangkok..
Lots of downside risk though the market has stormed the last few years..
As per rental.. I am thinking a 4 mil property in the Phuket tower recently auctioned.. With nice furniishings etc.. Command 25 - 35 for a good one.. No more than 40 tops for a superb one (5 mil) with big TV and great furnishings.. Probably better with a few of the cheaper smaller studios.. I think getting 10 - 15 out of a 1+ mil is possible.. $ of those pay better than one hih end..
Thats not much for the risk.. I rent for this exact reason my villa pays its owner 3.5% return (based on market price) BEFORE maintenance costs (and they have service people here all the time because of Thai construction and electrics need patching).. Probably around 3% per annum..
My assets have performed 30% or more easily this year (OK thats not normal and I am active with them).. Why tie up that money in real estate in high risk (getting money out of Thailand.. Property ownership laws here mean you dont actually own a villa.. Etc) when working the money is giving me many mutliples of the rent and the freedom to do as I wish (leave should the need arise)..
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Hello, I just wanted to ask you about condos in BKK. I would like to purchase a condo in BKK, to rent it out and possibly retire later there. How much is the median price for a decent condo in BKK ? Do you think it is a wise decision to buy such condo there ( I dont mind the smog ) ? Also with Thai laws, since I'm not a Thai citizen can I buy the condo in cash and would it be that I have 100% ownership right?
Thanks,
forextrading