Buy Condo or Buy land ?

[RedQualia]

Buy air space, or buy land. Always seemed a foolish question to me. But maybe not... It depends on what you can resell either for, and when. From what I read, Bangkok is supposed to be underwater by 2030. I dunno... Just what the climate folks say. I see lots of water in the streets of Bangkok now and again. And I see officials complain that prostitutes with their own wells are causing Bangkok to sink by using too much water to clean themselves between customers.

 

Which is to say, I wouldn't be buying too much air space in Bangkok, nor in any area likely to be submerged in the next 20 years or so, which probably means Pattaya as well. So where would one buy air space and expect a return on that investment? Chiang Mai, I guess. Probably Udon Thani, maybe Khon Kaen. Hua Hin and Phuket? I think I'll pass. Ayuthaya? I dunno, but there are "factory cities" around, and they usually need/have lots of dormitory space. Something to think about if you're just looking for an investment.

 

If you decide you're not interested in investing in air space, then that leaves land. Land most likely anywhere would be a "safe" investment, whether it returned a profit or not. A whole bunch of people have moved from Bangkok to the Chiang Mai area over the past 10-15 years, but I'm guessing most areas upcountry could say the same thing, whether it's Khon Kaen, Ubon, Roi Et, or wherever.

 

If I were looking solely from an investment POV, then I would probably buy in Nakhon Ratchasima. Reasons: it's close to Bangkok. It's higher than Bangkok. It's relatively easy to leave Bangkok for NR. A new highway is being built between NR and Bangkok. Prayuth-guy is from NR. There's a new Terminal 21 in NR, meaning upscale investment in the region. IMO, looks like Nakhon Ratchasima could absorb a heck of a lot of people looking to leave Bangkok/expand into other areas. Shucks... I might even be willing to buy simple air space (condo) inside Nakhon Ratchasima - the city. I mean, as an investment.

 

Otherwise, better to invest in land, wherever the land might be. Just try to minimize the risk. All anyone can do...

 

Edited May 21, 2018 by RedQualia

[tryasimight]

On 5/21/2018 at 11:37 AM, uffe123 said:

Dont buy anything in Thailand you cant own it. The government owns all of it. When the military took over they confiscated 80% of the farmers land. My cousin in Buri ram had 25 rai confiscated. They told him it was no longer his, and they would permit him to farm it, even though he had farmed it for over 15 years and had the deed to the property. Many others in the village met the same fate.

Dont believe anything they tell you it all BS 

You have claimed this many times.

I don't believe you.

If they truly owned the land the Government would not be able to/or could not have confiscated it. Land laws are very clear. If it was one of the many non fully owned types of land that is a different story. People have lost land that they were not entitled to and that is not a bad thing at all.

I know of no-one in our area (Surin) who suffered this fate.

I think you need to supply more details. 

[tryasimight]

On 5/21/2018 at 1:27 PM, simoh1490 said:

That's not my experience at all. I bought my first condo. in 2006 for 6.5 mill. and sold it a couple years later for another half a million plus I lived for free for those few years. I made most of my money from that purchase out of the exchange rate which moved against the Pound from 80+ to around 60. Later I bought another unit and whilst I didn't make more than about fifty thousand on it I lived free for a couple more years. Now I'm in a house that I bought five years ago so I've avoided rent for over 60 months, eventually, I expect to at least break even on the sale of it but more likely I'll make a profit since it includes a lot of land. In total I guess I've saved over 2.5 mill in rent in that time plus I've made about 600k in profit and about 2 mill on the exchange rate. The thing with the exchange rate is that if I hadn't transferred the funds here to buy the condo the money would have sat in fixed income at a low rate of return.

You factored in the exchange rate in your investment plan?

Nah...you just got lucky!

[altcar bob]

On 5/19/2018 at 5:40 PM, welovethailand said:

I guess you have no info on how the world housing, land market is teetering? Thailand is in a bad situation right now, Banks are not loaning, car markets are in a glut....housing builds also in a glut.

Rent and wait it out for a possible much lowered price.

Totally agree, Thailand (if reports are true) is in for one hell of a financial battering

[tryasimight]

19 hours ago, RedQualia said:

Buy air space, or buy land. Always seemed a foolish question to me. But maybe not... It depends on what you can resell either for, and when. From what I read, Bangkok is supposed to be underwater by 2030. I dunno... Just what the climate folks say. I see lots of water in the streets of Bangkok now and again. And I see officials complain that prostitutes with their own wells are causing Bangkok to sink by using too much water to clean themselves between customers.

 

Which is to say, I wouldn't be buying too much air space in Bangkok, nor in any area likely to be submerged in the next 20 years or so, which probably means Pattaya as well. So where would one buy air space and expect a return on that investment? Chiang Mai, I guess. Probably Udon Thani, maybe Khon Kaen. Hua Hin and Phuket? I think I'll pass. Ayuthaya? I dunno, but there are "factory cities" around, and they usually need/have lots of dormitory space. Something to think about if you're just looking for an investment.

 

If you decide you're not interested in investing in air space, then that leaves land. Land most likely anywhere would be a "safe" investment, whether it returned a profit or not. A whole bunch of people have moved from Bangkok to the Chiang Mai area over the past 10-15 years, but I'm guessing most areas upcountry could say the same thing, whether it's Khon Kaen, Ubon, Roi Et, or wherever.

 

If I were looking solely from an investment POV, then I would probably buy in Nakhon Ratchasima. Reasons: it's close to Bangkok. It's higher than Bangkok. It's relatively easy to leave Bangkok for NR. A new highway is being built between NR and Bangkok. Prayuth-guy is from NR. There's a new Terminal 21 in NR, meaning upscale investment in the region. IMO, looks like Nakhon Ratchasima could absorb a heck of a lot of people looking to leave Bangkok/expand into other areas. Shucks... I might even be willing to buy simple air space (condo) inside Nakhon Ratchasima - the city. I mean, as an investment.

 

Otherwise, better to invest in land, wherever the land might be. Just try to minimize the risk. All anyone can do...

 

Very confusng post......buy land anywhere? Even in Bangkok where the land will be underwater. What on earth is air space?

[tryasimight]

7 minutes ago, altcar bob said:

Totally agree, Thailand (if reports are true) is in for one hell of a financial battering

Don't disagree...but which reports? The doom and gloom posters on TVF or something more reputable?

[altcar bob]

1 minute ago, tryasimight said:

Don't disagree...but which reports? The doom and gloom posters on TVF or something more reputable?

Try as I might  3 to 4 UK broadsheets,plus Sky economic editor,twice recently lambasted Thailand,just one more US interest rise will topple Thais emerging market status   kaput

[tryasimight]

36 minutes ago, altcar bob said:

Try as I might  3 to 4 UK broadsheets,plus Sky economic editor,twice recently lambasted Thailand,just one more US interest rise will topple Thais emerging market status   kaput

Thanks for that.....we should set a date to revisit this thread in, say, three months time just for the hell of it.

Everyone has an opinion and a projection...far smarter people than me.....so how about it...mods....keep this open for 3 or 6 months and we'll see how it goes?

[Just Weird]

On ‎5‎/‎21‎/‎2018 at 8:37 AM, uffe123 said:

Dont buy anything in Thailand you cant own it. The government owns all of it. When the military took over they confiscated 80% of the farmers land. My cousin in Buri ram had 25 rai confiscated. They told him it was no longer his, and they would permit him to farm it, even though he had farmed it for over 15 years and had the deed to the property. Many others in the village met the same fate.

Dont believe anything they tell you it all BS 

"Dont believe anything they tell you it all BS"

That applies to everything that you say also. 

[BobbyL]

Very tricky one.

 

We are looking to buy something soon, but 10M for an apartment doesn't massively appeal to me. However, neither does living on some village miles away from the central areas. 

 

I don't know how we will decide. 

 

 

[midas]

I saw a magnificent houseboat moving leisurely up the river yesterday and thought for me
that would be far more appealing than being fixed in some location.

[bkk6060]

I would buy nothing in the prime areas prices are very high now.

A good investment may be the future skytrain stops.

Sorry to say, but maybe wait until the next political unrest which will come trust me.

Snap up something then maybe some bargains to be had.

 

 

[RedQualia]

On 5/22/2018 at 10:12 PM, tryasimight said:

Very confusng post......buy land anywhere? Even in Bangkok where the land will be underwater. What on earth is air space?

"Air space" is what you buy when you buy a condo. You get nothing more. In Thailand, often not even building maintenance.  You "own" the right to sue building maintenance when they fail to maintain, and you "own" the right to sell your air space to others. You do not own any land, much less the building your air space is located in. Buying land is what "mixed Thai" OP was asking about. Presumably, he knows where to do that in Bangkok (what he spec'ed), if Bangkok is his cup of tea and he has the Baht to do it. Otherwise, quite a bit of land is available in Chiang Mai, Udon Thani, Korat, Ubon, Phetchabun, Hua Hin, and may other places around the country. I certainly wouldn't buy anything in Bangkok, but that's not what OP was asking about. I would also be unlikely to buy "air space." Unless there's a clear path to a profit in the not too distant future, and then only maybe.

Edited May 27, 2018 by RedQualia

[flyingtlger]

I was contemplating if I should buy a condo or rent in BK. 

There are pro's and con's for both sides but I decided to rent. 

With so many condo popping up like mushrooms, condo's don't seem to appreciate. 

I felt that buying a condo was a bad investment.

On the other hand, renting is so inexpensive and I have the freedom to relocate if I want to....

[simoh1490]

15 minutes ago, flyingtlger said:

I was contemplating if I should buy a condo or rent in BK. 

There are pro's and con's for both sides but I decided to rent. 

With so many condo popping up like mushrooms, condo's don't seem to appreciate. 

I felt that buying a condo was a bad investment.

On the other hand, renting is so inexpensive and I have the freedom to relocate if I want to....

It's difficult to make a profit from property in Thailand but it's easy to avoid costs such as rental charges, if however you want the flexibility to move (ell/buy) when you want as well, that's not always easy.

[bkk6060]

If ones goal is buying for "investment" 98% of the time buying is dead money.

Very little appreciation here.

You can make much more money investing in something else.

[moontang]

the smart money is in Bitcoin....bwahaha.

[The manic]

On 5/21/2018 at 9:40 AM, simoh1490 said:

Rubbish! The military did NOT confiscate 80% of famers land when they took over, not even 0.008%!!!

They took over the whole country 

[simoh1490]

Just now, The manic said:

They took over the whole country 

They took control, they didn't take ownership!

[The manic]

Just now, simoh1490 said:

They took control, they didn't take ownership!

Semantics! 

[simoh1490]

3 minutes ago, The manic said:

Semantics! 

So every chanotte in the country now belongs to the Army does it!

[The manic]

Just now, simoh1490 said:

So every chanotte in the country now belongs to the Army does it!

If they so wish yes...in a nut shell. They can take what they want, prosecute, or not who they want, imprison who they want. 

[simoh1490]

2 minutes ago, The manic said:

If they so wish yes...in a nut shell. They can take what they want, prosecute, or not who they want, imprison who they want. 

Cool, I'll have the Mrs get out the Chanottes and leave them on the table, in case they come round. Perhaps somebody who has already been visited by the army for this purpose and had their chanottes confiscated can advise how long their visits last, that way we shall know whether we should make some nice cucumber sandwiches for them too, with the crust cut off of course.

[moontang]

The military has made things better by cracking down on the fakes and encroachers...makes it better for the legitimate s....try not paying your property taxes in America...20% penalty for late...can lose your property for not paying.

[The manic]

4 hours ago, moontang said:

The military has made things better by cracking down on the fakes and encroachers...makes it better for the legitimate s....try not paying your property taxes in America...20% penalty for late...can lose your property for not paying.

And wild animal hunters and multi watch wearers and murdering millionaire plabuoys...yeah yeah it's a paradise of justice and rule of law....if you are....I'll let you fill in the blanks..

 

5 hours ago, simoh1490 said:

Cool, I'll have the Mrs get out the Chanottes and leave them on the table, in case they come round. Perhaps somebody who has already been visited by the army for this purpose and had their chanottes confiscated can advise how long their visits last, that way we shall know whether we should make some nice cucumber sandwiches for them too, with the crust cut off of course.

No. You - YOU get out your irrelevant paperwork and see what happens when your wife's family want what you think you own and use their military contacts to kick you out of your home, village, and country. By The time you learn to say chanotte correctly you'll be ragged a**ed and desperate to leave. I apologise for having 30 years experience here.  Unless you are well connected...then you are OK. But your pitiful piece of paperwork is a joke in a country where there is non rule of law. 

[simoh1490]

2 hours ago, The manic said:

And wild animal hunters and multi watch wearers and murdering millionaire plabuoys...yeah yeah it's a paradise of justice and rule of law....if you are....I'll let you fill in the blanks..

 

No. You - YOU get out your irrelevant paperwork and see what happens when your wife's family want what you think you own and use their military contacts to kick you out of your home, village, and country. By The time you learn to say chanotte correctly you'll be ragged a**ed and desperate to leave. I apologise for having 30 years experience here.  Unless you are well connected...then you are OK. But your pitiful piece of paperwork is a joke in a country where there is non rule of law. 

I don't own anything here, I'm not allowed to own land etc., my wife owns a house which I bought for her, I lay no claim whatsoever to that, I even took the unusual step of cancelling the usufruct against it, just to give my wife more flexibility as I enter old age. The wifes family have a house also that I built for them fourteen years ago, I don't think they want two! And if I get kicked out tomorrow I shall go to my flat in the UK and spend my days wandering around the nearby Lake District and my evenings in the pub, I'm going to do that anyway May thru. Oct each year from now on, I don't see the problem.

 

But I'm worried about you though, you seem anxious, are you OK?

[inThailand]

I have never been a big proponent of renting, even though I am a landlord back home and was here. It is such a buyers or renters market here you have to seriously consider it as an option even if just for living.