Farang Ghetto days are coming

[ATMwalking]

Read in the Phuket Post that the government is considering removing the 49% foreign freehold limit on Condos in key areas like Phuket. I guess that is ok in the xenophobic mindset as all holding companies (the ones owning the lease and land) will be truly thai owned.

So the dots are connecting and farang are being nudged from houses to condos.

I think it is sad that all Farang wanting to have a little ownership security will be pushed into these special areas away from most Thai people.

Is Malaysia paying them to make these decisions?

[Dodger]

What is the difference between a condo and a block of apartments, is it an apartment block/complex but has a service /reception desk?

This may or may not happen, if it does or even just considering it is a positive step for the farang, the first little positive thing for quite some time now. It will also bring a little confidence back to the property market, with brave speculators considering now may be the time to invest in property on Phuket.

[ATMwalking]

Originally Posted by Dodger

What is the difference between a condo and a block of apartments, is it an apartment block/complex but has a service /reception desk?

Condo you own vs. an apartment you rent. I guess both can have reception.

I think on it's own it is good, although the market is still really confused. For example only some buildings are approved for having foreign freehold units. Could any of the ones under construction today and that have been approved be found to be invalid with the new foreign business act modifications? It is still confusing.

now at 49% limit, you have some chance of having thai neighbors. If that limit went to say 100%, all the foreigners will flock to those buildings and thais will go to other non-approved buildings that are likely to be cheaper.

Ideally you would let any condo sell as much as they want to foreigners. let the market sort things out and hopefully you would still get a good mix.

[AngloTeuton]

In the LOS the wise man does not buy anything (or anybody), he rents: ST, LT but never full time.

Originally Posted by ATMwalking

Read in the Phuket Post that the government is considering removing the 49% foreign freehold limit on Condos in key areas like Phuket. I guess that is ok in the xenophobic mindset as all holding companies (the ones owning the lease and land) will be truly thai owned.

So the dots are connecting and farang are being nudged from houses to condos.

I think it is sad that all Farang wanting to have a little ownership security will be pushed into these special areas away from most Thai people.

Is Malaysia paying them to make these decisions?

[Dodger]

ATM that is not the answer, a condo you (a farang) can own freehold an apartment you can only purchase leasehold, but that does not differentiate it in the first place. There must be a technical difference as a condo has to qualify and therefore there has to be qualifying points to acheive or else everyone wishing to sel to Farang would call their apartments, condo's.

Where I live, we have 49 apartments in 7 blocks but the developer said she couldn't qualify for them to be classed as condos. I'm seeing my architect tomorrow so will ask him, if he knows I'll post it here unless someone beats me (probably be gee she's looking decidedly mean this evening!!!)

[ATMwalking]

Dodger, had the feeling I wasn't quite getting at what you wanted.

It would be very interested to get the low down from your friend.

[LivinLOS]

The difference between a condo and an apartment block ??

The apartment block didnt give one unit to the tessabaan when they built it.

[Denver]

Another reason I am only willing to rent out here............If I am going to be a 'Farang living in a Ghetto' then I am definately going to get me a crushed velvet fedora, some bling, big cuban heels and some springs on my Yamaha that make it bounce up and down at traffic lights to a heavy reggae beat!


Mutha's

[ATMwalking]

You forgot the neon running lights under the bike.

[Dodger]

My friend is giving me the accurate breakdown tommorow but he said firstly a condo has to have chanote title to the land, it can only cover a certain area of the land mass and a certain amount must be left greenbelt but exact percentage he would check for me tomorrow and when he does and if I can remember what thread this is, I will post some more info.

[LivinLOS]

No honestly.. Give the tessaban a unit and condo classification is sorted..

I know someone whose building up a condo block on exactly this basis. Rules on paper and rules on the ground etc..