Property market situation

[WonderfulDay]

I would like to start this thread for general discussion of Ko Samui property market.

 

Are you trying to sell/buy? What is / was your experience?

 

What are the dangers and pitfalls with owning a villa through the number of possible (but risky) schemes?

 

I think it would be helpful to have bit of info together for anyone looking to settle down in KS

[muratremix]

Never buy anything without consulting to a trustworthy lawyer first. As you are buying property with company attached, you need to make sure there are no debts or loans on company who owns villa.


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[ronaldo0]

Absolutely flooded . Property is getting built everywhere and place is looking a mess. Anyone trying to sell is usually reducing their property from what they asked initially due to terrible exchange rate and the flood of newly available property. Owned several places here and now just got the last one to sell and I’m out of here. 

Good time to buy if you had the money here for few years as a lot of nice places reduced by millions or if u wanted a fairly priced new build . Although a lot of places are on complexes and come with the dreaded service fees .

[Halfaboy]

Are you talking about Thailand in general or one or more places / cities specifically ?

[baansgr]

I see properties for sale now that we're on the market when I lived there 12 years ago.  Same price,  I trust that answers your question. 

[phetphet]

Severe glut of properties for sale. Unbridled building everywhere. 

 

Also, if the government really does start clamping down on Air BnB rentals after they were deemed illegal last week, there will be a lot more property coming on the market, as owners who rent out to fund their "holiday homes", may not have the income to cover costs.

[xylophone]

On ‎5‎/‎22‎/‎2018 at 10:14 AM, muratremix said:

As you are buying property with company attached, you need to make sure there are no debts or loans on company who owns villa.

You should also be aware that buying a property through the company route (Thai Nominee company) if the sole purpose of that company is to own the property, is illegal.

[xylophone]

47 minutes ago, xylophone said:

You should also be aware that buying a property through the company route (Thai Nominee company) if the sole purpose of that company is to own the property, is illegal.

Postscript to that...…………...

 

Foreigners are allowed to own condos and apts provided that the 49% foreign quota applies.

 

The Thai nominee company is a route used to circumvent the land ownership rules, by which a foreigner cannot own land here (this apart from an investment category where the foreigner has to invest 40 m baht in order to own a small piece of land, and then some limitations apply).

[muratremix]

2 hours ago, xylophone said:

You should also be aware that buying a property through the company route (Thai Nominee company) if the sole purpose of that company is to own the property, is illegal.

illegal but doable, as everybody is doing it.

you can rent home to yourself so company can make rental revenue and has a purpose!

[Destiny1990]

Samui always rains..

[MyFriend You]

surprised no one has mentioned the Scandinavian biker gangs we used to read about that would take people hostage on Samui for ransom, blackmail, and whatnot.

[bobby2]

I am interested in buying some land either in Thai wife's name or Thai ltd to build a villa on K. Samui

Having read so many different comments i am still confused, but what i think I understand is

30 year lease option of extension 30 + 30 but not legal.

Looking at Bang Por area on community with reasonable maintenance, elc and water costs.

What legal costs am I looking at?, Zoning looks ok build height and size looks ok

I have a house in Issan ,but here you can build what you want.

Also have a builder built our house 4 years no cracks , but allso build small condo units and some Frang villas in Rayong.

Would it be better to employ an architect if only to get build permission through as can produce detailed drawing with builder?

 

Any comments would be much appreciated.

 

[muratremix]

There is a land for sale in angthong hills for 1.4 million thb, 1400 sqm

its on a hill, but with security and community.

problem is community payments are like 6500 thb/month to pay salaries of security.

 

water is 50 Baht/unit and is carried by truck,

electric is 5 Baht I think, government max rate is 4.5

 

there are companies who can built your home so you don't need to deal with anything, just pay them every once a while after they complete some of the work.

[baansgr]

On 5/24/2018 at 7:13 AM, bobby2 said:

I am interested in buying some land either in Thai wife's name or Thai ltd to build a villa on K. Samui

Having read so many different comments i am still confused, but what i think I understand is

30 year lease option of extension 30 + 30 but not legal.

Looking at Bang Por area on community with reasonable maintenance, elc and water costs.

What legal costs am I looking at?, Zoning looks ok build height and size looks ok

I have a house in Issan ,but here you can build what you want.

Also have a builder built our house 4 years no cracks , but allso build small condo units and some Frang villas in Rayong.

Would it be better to employ an architect if only to get build permission through as can produce detailed drawing with builder?

 

Any comments would be much appreciated.

 

Firstly, be sure you want to live there....permanent is a bit different to a few weeks/months holiday. Take into account travelling, BKK Air as we know is expensive, 10K return flight to BKK per person gets extorniate especially with a family.. Flooding was horrendous when I was there, 2005 being one of the worst years ever. You can get "island fever" and crave just to get off Samui for a few days. If you are set on the idea, Bang Por is a wonderful place, buying land and building yourselfe can be cheaper but may give you a few grey hairs through construction, however have a good look as there are many properties of all sizes/prices readily available with a committed seller that is desperate to offload.

[xylophone]

On ‎5‎/‎24‎/‎2018 at 7:13 AM, bobby2 said:

Having read so many different comments i am still confused, but what i think I understand is

30 year lease option of extension 30 + 30 but not legal.

Check that out because as I understand it only the 30 year lease is recognised in Thai law, so 30 + 30 is not enforceable.

 

This means that no matter what you have signed/agreed to, the original owner can renege on anything outside of 30 yrs...…….example being that if land prices in that area become sought after/valuable, then he may wish to sell to a higher bidder.

 

However I did read of a case where a 30/30/30 lease was entered into but a court over-ruled it entirely during a later conflict, leaving the original purchaser with nothing. 

 

 

[PoorSucker]

5 hours ago, baansgr said:

Take into account travelling, BKK Air as we know is expensive, 10K return flight to BKK per person gets extorniate especially with a family.. Flooding was horrendous when I was there, 2005 being one of the worst years ever. 

As resident you get residence card discount on BKK Airways, you can also book combo ticket with Air Asia via surrathani or NSR for less than 2000 baht. 

No flodding for several years now, new draining and cemented river outflow to the ocean has improved runoff. 

You can not really compare with Samui 13 years ago.