Bangkok

forextrading · #1 28-09-2005, 08:57

Hello Members,

I'm very curious about condos in Thailand. I would like to buy property to retire and would like to ask you all which is the best solution in doing so..

I would like to know if you all would prefer to buy condos/apartments/ or house and where would be the best area to buy one? The average cost is how much?

I do enjoyed the city life, but I do not wish to buy a house/condo or an apartment too far from the city such as Bangkok. I do not like to commute too far if I wanted to have a night out in the city. Can you recommend some of the areas that would be best to buy a home?

About being a local or married to a Thai women in order to own such property, can I get away from this by buying all cash up front? If you know any legal factors please feel free to give some more info. , thanks...

Sincerely,
Forextrading

IreMark · #2 28-09-2005, 09:08

I think you would be mad to retire in Bangkok. 13 million peope alone, pollution. bad traffic from 2-7 ontop of mostly always bad traffic. Bangkokg bank have recently offered mortgages to foreign people which im looing into myself. I'd recommend heading down South somewhere. Mixture of city/town life with beaches and lovely scenery.

stevem · #3 28-09-2005, 09:49

Go have a browse on thaivisa.com

Johnnie · #4 30-09-2005, 16:24

I can help you here as I specialise in finding finance for farangs to buy property in Thailand

LivinLOS · #5 30-09-2005, 16:35

OK thats interesting..

Can you gain finance on normal (non condo) property for farangs based on the property in Thailand (not second mortgating a home outside of Thailand)..

Lots of poeple have told me that its possible then it turns out they only want to seond mortgate non thai property or give a tiny % of the condo value at very high comparative interest (and totally useless for villa sales)..

forextrading · #6 01-11-2005, 17:30

Okay , here is something I'm confused about purchasing properties in Thailand.

1.
As a foreigner you can't not own the right of title to land/ house in Thailand, unless you're married with a thai citizen and or incorporate and put the property under company's name . Please verify this if I'm wrong ).

2.
As a foreigner you can only buy Condos? And only have 49% ownership ? Okay this is where I'm confused. What if I buy the condo in full cash?
Would the condo ownership title be 100% under my name ? If not, than who as the 51% ownership of my condo ( the Thai Government ) ?

3.
Okay let say I purchased the Condo in full cash and I only get 49% ownership right, can I rent it out to tenants and take 100% of the rent profits? Let say I bought in full cash for the condo that cost 120k usd and decided to sell it 1 year later and let say the property value is up at 145k for my condo , would I keep all of the money that I sold it for ? OR the Thai government get a some of the action too?

4.
How many condos can a foreigner buy in Thialand? And is there annual property tax for each condo purchased?

Could someone who has knowledge please explain this to me? Thanks

stevem · #7 01-11-2005, 17:32

Quote:

Originally Posted by forextrading

2.
As a foreigner you can only buy Condos? And only have 49% owneship ? Okay this is where I'm confused. What if I buy the condo in full cash?
Would the condo ownership title be 100% under my name ? If not, than who as the 51% ownership of my condo ( the Thai Government ) ?

Your can own 100% of a condo, as there is no land involved. Technically there can only be 49% (I think) of condo's in a building owned by farang.

Texas · #8 02-11-2005, 04:42

LivinLOS,
You can get a mortgage on a house with land. I have 2, one on my house and one on a piece of land we just bought. Siam Commercial. My loan was for 50% for 5 years probably dependant on age. I'm 53.

Rex7777 · #9 02-11-2005, 05:37

I was looking into this the other day. I think it was Bangkok Bank? Anyway, they'll loan money, but it has to be from their Singapore branch for a term of ten years or less. Repayment in either Singapore dollars or US dollars.

Rex

stevem · #10 02-11-2005, 05:44

Quote:

Originally Posted by Rex7777

I was looking into this the other day. I think it was Bangkok Bank? Anyway, they'll loan money, but it has to be from their Singapore branch for a term of ten years or less. Repayment in either Singapore dollars or US dollars.

Rex

Or their Hong Kong branch

Monkey Chest · #11 14-11-2005, 23:41

Quote:

Originally Posted by stevem

Or their Hong Kong branch

Don't get too concerned about your 49% stake in a Thai company (if that is a route you are really considering). Even though your stake isn't 100% your legal advisors who help you register the company will make sure that you are the only one with any power in the company. The other people can just be a few random Thais that are basically just owners for legal purposes, but have no real power over your company and assets. Your legal advisors will probably even offer the Thai people for you if you don't know anyone...

Gum6y1 · #12 09-12-2005, 21:55

I often see questions about property and I admit I know nothing about the laws in THailand other than it seems complicated and maybe dodgy.

Why not invest in property in your own country and live off the revenue in Thailand where it is so cheap. This keeps your money in a market you understand and trust and live it up in Thailand.

Just another option to consider.

Cheers

ps My 1st post

Benjy · #13 09-12-2005, 22:08

Well personally I cant see the value of property in the UK going up that much in the next 5-10 years, Its SO expensive there right now - like poxy 2 bed terraced houses in the middle of nowhere costing the equivelant of 500,000 US$. If there is a market crash then there wont IMO be much demand for rentals as there are LOTS of first time buyers who have savings but cant get on the property tree at the moment, they will all jump in and snap up properties when they finally fall to realistic prices.

Also theres things like Poll Tax, Income Tax, etc....

ToTheBeach · #14 10-12-2005, 14:00

Have a look here, it will answer most of your questions...

http://www.siam-legal.com/finance.html

Kailey · #15 20-02-2006, 12:46

I am looking for an apartment. I just dont want to book an apartment blindly. Before actually booking an apartment,i would like to view all the detalis right from floor plans to pictures of various rooms. Can anybody tell me any way for this.

Regards,
Kailey

LivinLOS · #16 20-02-2006, 13:33

Thailand is not evolved in such a way that the markets are online to the extant your looking for..

You want that info you have to come here and look at it.. Some of the higher end sales will have info like this but I am guessing by 'booking' you mean renting.. If so you need to come and base yourself a little then find your rental.

If you mean buying I for one would question the sanity of making any descisions without being here a lot longer than just a vacation or two..