Is this a good time to buy a Condo?

[how241]

3 hours ago, Destiny1990 said:

Anyway its not a logical rule.

its creates Only partially full / sold buildings which is environmentally a bad situation. 

I think it is the same logic with land ownership.  Thailand is a small country and they don't want a bunch of wealthy outsiders owning and controlling everything.  Their country, their rules.  This has never made any problems for me. 

[Destiny1990]

17 minutes ago, how241 said:

I think it is the same logic with land ownership.  Thailand is a small country and they don't want a bunch of wealthy outsiders owning and controlling everything.  Their country, their rules.  This has never made any problems for me. 

So if u move to Iran where they practice Sharia law and they sentence to death 2 guys for being gay u will say : Their country their laws. This is never a problem for me ??

 

 

[Airalee]

12 minutes ago, Destiny1990 said:

So if u move to Iran where they practice Sharia law and they sentence to death 2 guys for being gay u will say : Their country their laws. This is never a problem for me ??

 

 

Somehow I don’t think that’s a very good comparison.  ???? 

[Pravda]

On 2/26/2020 at 7:22 PM, jack7106 said:

His name isn’t Alex????????‍♂️????????????is it????
BTW - I own 5 condominiums at Nirun & have lived there for roughly 8 years & am certainly getting more than 2% return on my investments ????????‍♂️????????????

The complex had a corrupt management for approximately 17 years and in recent years there is now accountability, progression and money well spent  – up to you/me????????????
To the peanut/imbecile who said it was a career progression and an achievement to live there. Up to you mate. I retired at 35 years of age & can choose where I live and I’m quite happy to live within a village atmosphere central to everything and all we need????????‍♂️????????????

 

Wow. If you got likes for this crapfest I can only imagine where the rest of Thai Visa posters live. 

[Airalee]

34 minutes ago, Pravda said:

 

Wow. If you got likes for this crapfest I can only imagine where the rest of Thai Visa posters live. 

I live in a much smaller place.  If I start a gofundme in order to upgrade, can I count you in?

[treetops]

38 minutes ago, Pravda said:

Wow. If you got likes for this crapfest I can only imagine where the rest of Thai Visa posters live. 

As asked upthread of another poster (who bottled it), post some pics and details of your place to allow readers to compare the two.

[Pravda]

48 minutes ago, treetops said:

As asked upthread of another poster (who bottled it), post some pics and details of your place to allow readers to compare the two.

 

I don't live in Pattaya, I live in one of the Ideo-t condos. Modern, small, great facilities and all rooms look the same. 

 

I guess my issue is that I keep reading about all these penthouse condos with great Pattaya views, yet I've never seen a single pic of it.

 

Kinda like posters who brag about their hot bargirls, but all I see is a horrorshow when they post their wedding and restaurant pictures on Facebook. 

 

Sorta like all the Thai Visa millionaires of yesteryear who all run away to Cambodia and Vietnam as soon as embassies stopped issuing income letters. 

 

Somewhat like certain Pattaya high rollers who complain about 99 baht breakfast because they didn't get black pudding. 

 

 

[treetops]

4 minutes ago, Pravda said:

I guess my issue is that I keep reading about all these penthouse condos with great Pattaya views, yet I've never seen a single pic of it.

Therre's certainly very few, if any, posted here, but a lot of contributors denigrating anything that does get posted.  Most appear to be all talk.

[Susco]

2 hours ago, Pravda said:

On 2/26/2020 at 7:22 PM, jack7106 said:

 

 

 

Wow. If you got likes for this crapfest I can only imagine where the rest of Thai Visa posters live. 

 

 

Fancy kitchen though ????

[Airalee]

41 minutes ago, Pravda said:

I guess my issue is that I keep reading about all these penthouse condos with great Pattaya views, yet I've never seen a single pic of it.

No doubt.  
 

I wonder if the posters that have made fun of those of us living in 30+/- sqm condos (living in a shoebox...can’t swing a cat) are living large in 50sqm Nirun condos.
 

I’m glad I don’t own a cat.

[how241]

4 hours ago, Destiny1990 said:

So if u move to Iran where they practice Sharia law and they sentence to death 2 guys for being gay u will say : Their country their laws. This is never a problem for me ??

 

 

Not really a fair comparison to what I posted BUT I stand by "Their country,  their laws. This is never a problem for me."    No one forces me to live here and I am not trapped here as I need a lower cost of living,  as some do.  I choose to live in another country and as such I feel I should adapt to their rules and laws. Anytime I don't like them I can easily leave.  Any one, anytime who doesn't like what they see here can leave.   Have a nice day.   I Love Pattaya !!!  

[Destiny1990]

29 minutes ago, how241 said:

Not really a fair comparison to what I posted BUT I stand by "Their country,  their laws. This is never a problem for me."    No one forces me to live here and I am not trapped here as I need a lower cost of living,  as some do.  I choose to live in another country and as such I feel I should adapt to their rules and laws. Anytime I don't like them I can easily leave.  Any one, anytime who doesn't like what they see here can leave.   Have a nice day.   I Love Pattaya !!!  

In case you haven’t noticed its a ghost town at the moment indeed most have left.

[scubascuba3]

7 hours ago, Susco said:

No they don't. They confirm 49% foreigner maximum.

 

There is no minimum or maximum on the Thai quota, only a maximum on the foreign quota

so they quote 49% maximum even when it could be 20%? not very useful

Edited March 1, 2020 by scubascuba3

[scubascuba3]

1 hour ago, Destiny1990 said:

In case you haven’t noticed its a ghost town at the moment indeed most have left.

It's actually not, just the missing Chinese noticable

[bkk6060]

10 hours ago, how241 said:

No you said 51\49 which isn't the same thing. It could be 80% Thai 20% Foreigner

------------------------------------------------------------------

Just playing with words....Farang=Foreigner=  NON Thai citizens...

 

Playing with words? 

Falang and all foreigner are not the same as it applies to this rule.  Not even close.

I suggest you research the definition of Falang.

It is very simple if one has common sense.

The rule: Not more then 49% available units can be sold to foreigners.

Of course Thais can buy 99% if they want, but that was not the point.

 

 

 

 

 

Edited March 1, 2020 by bkk6060

[SCOTT FITZGERSLD]

On 2/26/2020 at 5:06 AM, how241 said:

So you don't think Pattaya is a nice area to stay-play and live ???  haha

yes, you got it rigth.

i don't think Pattaya is a nice place to stay, play and / or live.

 

Edited March 2, 2020 by SCOTT FITZGERSLD

[ChipButty]

I dont know about where you guys live but near me in Phuket I saw one the other day condo for sale at 1.8 million below price can only be about 2 years old the original price was 6 million

[jacko45k]

15 hours ago, how241 said:

Yes,  this is a Thai condo law and not something that the condo association decided on.  No condo project can be owned by more than 49% farang. When you try to sell or transfer any condo the land office will require documents that confirm the 51/49% Thai ratio.  Nothing new here.

49% can be owned directly by foreigners, the rest can be owned in a Thai name, or a Thai company name. Or a farang guy's Thai front person/partner or wife. Surely a few who do it for investment use a company name and pick up the cheaper priced Thai ownership allocation? 

[Langsuan Man]

32 minutes ago, jacko45k said:

49% can be owned directly by foreigners, the rest can be owned in a Thai name, or a Thai company name. Or a farang guy's Thai front person/partner or wife. Surely a few who do it for investment use a company name and pick up the cheaper priced Thai ownership allocation? 

The Thai government has a habit of suspending this requirement when it suits them, like during the Asian Economic Crisis of 1997.  Who know's if this virus thing will have that kind of impact, but if it were me, this is not the time to buy anything in Thailand.  Add in flaky Immigration Bureau rules and enforcement which causes uncertainty and things don't bode well for Thailand at the present time   

[Leaver]

12 hours ago, how241 said:

 

Just looking to pick and find negative things to post.  Everyone understands that all condos must be owned by 51% Thai citizens.  Even if the condo office or land office played some games to get someone in under the cap,  it wouldn't really affect you. I understand that many of you would NEVER buy anything in Thailand and think people that do are crazy.  

I am not finding negative things to post, and I do not think anyone you bys property here is crazy.  It's risk v reward, simple as that, but, being a foreigner in Thailand, greatly increases your risk, and as Thailand is falling out of favor with western tourists, the reward is reducing by the month. 

 

If the condo office and Land Office "play games" you very well could end up a victim of those games. 

[Leaver]

1 hour ago, jacko45k said:

49% can be owned directly by foreigners, the rest can be owned in a Thai name, or a Thai company name.

It is illegal to set up a Thai Company for the purpose of land / property ownership. 

 

Many condo's here are owned by foreigners, using a Thai Company.  All the authorities have to do is shut this loop hole, or enforce it, and even if you have the condo in your name, you could be caught up in a messy legal issue regarding your ownership.  This is why I said, many of these condo's have well over 49% foreign ownership, and that poses a risk to ALL foreign owners in the condo block. 

[Susco]

15 hours ago, bkk6060 said:

17 hours ago, how241 said:

  No condo project can be owned by more than 49% farang.

False.

Has nothing to do with Falang but it is regarding foreigners.

Chinese, Korea, whatever are not Falang but fall under the % rule.

If ever there were some pedants on this forum

[jacko45k]

6 minutes ago, Leaver said:

It is illegal to set up a Thai Company for the purpose of land / property ownership. 

Well you chopped up what I wrote to suit your post but I can assure you there are many such 'companies'..... , land ownership may well not be it's sole purpose else there would be fewer McDonalds!

[jacko45k]

2 minutes ago, Susco said:

If ever there were some pedants on this forum

Yes, I guess falangs are not foreigners or something!

[Henryford]

12 minutes ago, Leaver said:

It is illegal to set up a Thai Company for the purpose of land / property ownership. 

 

Many condo's here are owned by foreigners, using a Thai Company.  All the authorities have to do is shut this loop hole, or enforce it, and even if you have the condo in your name, you could be caught up in a messy legal issue regarding your ownership.  This is why I said, many of these condo's have well over 49% foreign ownership, and that poses a risk to ALL foreign owners in the condo block. 

Not sure if this is the case. The "Thai Company" condos are owned by the company with 51% shares under Thai name. The foreigners involved own nothing. If Thailand wanted to clamp down on this scam then they would lose everything (which is why i would never touch a scheme like this).

[Peterw42]

1 hour ago, ChipButty said:

I dont know about where you guys live but near me in Phuket I saw one the other day condo for sale at 1.8 million below price can only be about 2 years old the original price was 6 million

Are you saying the original purchase price was 6M or the ridiculous asking price at some stage was 6M ?

That just sounds like someone purchased a condo for 4M and tried to flip it for 6M and didnt get it so now its back to the real 4M asking price.

 

I see it in my condo block, where condos are bought/sold for 2 M baht, idiots are still trying to sell them for 3M, they eventually sell for 2M baht after they advertise 1M baht discount.

 

 

[newnative]

9 hours ago, Pravda said:

 

I don't live in Pattaya, I live in one of the Ideo-t condos. Modern, small, great facilities and all rooms look the same. 

 

I guess my issue is that I keep reading about all these penthouse condos with great Pattaya views, yet I've never seen a single pic of it.

 

Kinda like posters who brag about their hot bargirls, but all I see is a horrorshow when they post their wedding and restaurant pictures on Facebook. 

 

Sorta lik, great fae all the Thai Visa millionaires of yesteryear who all run away to Cambodia and Vietnam as soon as embassies stopped issuing income letters. 

 

Somewhat like certain Pattaya high rollers who complain about 99 baht breakfast because they didn't get black pudding. 

 

 

   Your condo, in your words: "Modern, small, great facilities and all the rooms look the same."  That description could easily be applied to most of the new condos built in Pattaya in the past 10 years--although most of them also have larger units available, too, as likely does yours.  A project like Sansiri's The Base Central Pattaya could easily be plopped down in Bangkok--and has in The Base Chaeng Watthana.  Ditto for the Pattaya projects by Lumpini, Supalai, Raimon Land, and SC Asset.  Nirun is getting the attention in this thread but Pattaya has many more large, higher-end projects than it does of the large Nirun variety.  

[bkk6060]

1 hour ago, Susco said:

If ever there were some pedants on this forum

Thank you for the compliment it is all about the truth. ????

[jacko45k]

4 hours ago, Henryford said:

Not sure if this is the case. The "Thai Company" condos are owned by the company with 51% shares under Thai name. The foreigners involved own nothing. If Thailand wanted to clamp down on this scam then they would lose everything (which is why i would never touch a scheme like this).

Yeah, it's been around for 20+ years, they must be rushing to clamp down on it and kill the property market off completely!

[BigStar]

4 hours ago, Peterw42 said:

Are you saying the original purchase price was 6M or the ridiculous asking price at some stage was 6M ?

That just sounds like someone purchased a condo for 4M and tried to flip it for 6M and didnt get it so now its back to the real 4M asking price.

 

I see it in my condo block, where condos are bought/sold for 2 M baht, idiots are still trying to sell them for 3M, they eventually sell for 2M baht after they advertise 1M baht discount.

 

 

Waiting, waiting