Foreign quota filled

[theguyfromanotherforum]

I was looking at come condos near airport link (nowhere near bts/mrt) and was told all foreign quota is full.

 

These micro one bedrooms were selling for more than On Nut per square foot!

 

Who's buying these? I strongly suspect Chinese are buying in bulk.

[ChiangMaiLightning2143]

And thus the rest remain unsold or must be flogged off to Thais at steep discounts

A market distortion that lowers the value of those units held by Thais. Is that smart?

[Kerryd]

Chinese are also "foreigners" and the rules on ownership apply to them as well.

 

However, a Thai registered company (or companies) would have no problem buying as many "non-foreign" units as are available, regardless if one of the "directors" was Chinese or Canadian. They could then be leased/rented or flipped to other foreigners just like normal.

Theoretically, every condo in a building could be in the possession of a "foreigner", so long as 51% are "owned" by a Thai company.

It could very well be that Chinese concerns are behind the purchases. Property is usually a good investment and while waiting for the units to appreciate in value perhaps they can be leased/rented (perhaps to Chinese tour groups and/or AirBnB types). 
If there is any proposed development in the area that could affect prices then perhaps someone "in the know" is behind the purchases. Wouldn't be the first time that happened (in many parts of the world).

 

[Johnnyngai]

That is how corrupt official in other corrupt countries park their dirty money.  

[AlQaholic]

18 hours ago, theguyfromanotherforum said:

Who's buying these? I strongly suspect Chinese are buying in bulk.

Bandidos and Hells Angels...

[lkn]

16 hours ago, ChiangMaiLightning2143 said:

And thus the rest remain unsold or must be flogged off to Thais at steep discounts

A market distortion that lowers the value of those units held by Thais. Is that smart?

Sincerely doubt that prices for a 1 BR condo in BKK far from BTS and MRT would be affected by demand from foreigners.

[lkn]

19 hours ago, theguyfromanotherforum said:

Who's buying these? I strongly suspect Chinese are buying in bulk.

Why didn’t you ask at the condo? Surely the Juristic Manager should have known, or the agent who showed you the place.

[theguyfromanotherforum]

24 minutes ago, lkn said:

Why didn’t you ask at the condo? Surely the Juristic Manager should have known, or the agent who showed you the place.

 

To be honest, I'd expect a more honest and accurate answer from TV CSI

 

Hence my post

[newnative]

    Primarily Chinese.  A major Bangkok developer I know of had a separate sales team fluent in Chinese handling only Chinese buyers at the Sales Office of one condo development my partner and I looked at.  The Chinese buyers were in one area and everyone else dealt with the regular sales team of the developer.  I think there were brochures just in Chinese, as well.  I think some of the big developers are also sending sales teams to Chinese cities.

[gaff]

Yes you certainly have checked all buildings near airport link...

 

 

[jenny2017]

4 hours ago, AlQaholic said:

Bandidos and Hells Angels...

Controlled by the "Outlaws."

[holy cow cm]

Chinese. Same in Chiang Mai.1 building and approx. 400 condos with approximately  200+ sold to the Chinese. Not a day goes by hearing someone complain about how many Chinese are here and how rude. Junta has dug everyone's grave. Once here impossible to reverse it. 

[Monkeyrobot]

The Chinese are buying everything they can get there hands on , not only in Thailand. There are a lot of those little buggers they will own the sth China sea plus all the realestate surrounding it. 

[marquis22]

The airport link trains are jam-packed now, hate to see/travel when even more residents living along the line want to travel into the city for work.

[newnative]

6 hours ago, marquis22 said:

The airport link trains are jam-packed now, hate to see/travel when even more residents living along the line want to travel into the city for work.

Agree.  Should be 6 or 8 car trains.

[KittenKong]

Why didn’t you ask at the condo? Surely the Juristic Manager should have known, or the agent who showed you the place.

Both may know but neither is obliged to tell anyone, or to tell the truth.

[ChiangMaiLightning2143]

Chinese moved out of rental unit. Took bath faucet and spray shower with them.

 

A common occurence, I'm told.

[cheeryble]

Chinese moved out of rental unit. Took bath faucet and spray shower with them.
 
A common occurence, I'm told.

That’s just not cricket.....


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