mikebell Posted October 15, 2020 Share Posted October 15, 2020 18 hours ago, Pattaya Spotter said: What does buying a house have to do with tourism...do people only take vacations to countries where they can buy property? Or are you saying it's easier for foreigners to buy property in Malaysia, which is true, but keep in mind the minimum purchase price in most areas is about US$ 250,000 (no $75k condos for foreigners there) and the 30% gains tax on sales for the first 8 years (20% in Thailand). Tourism opens up the housing market to the world. Many foreign house owners first see their future country during an idyllic holiday whilst wearing rose-coloured spectacles. Spain is just such a case in point; cheap holidays; cheap booze and lots of sunshine resulted in an explosion of building, buying and selling. Thailand is in the building stage where hundreds of condos are still being built despite the market having disappeared. Watch property prices drop as people struggle to live in the new normal. 2 Link to comment Share on other sites More sharing options...
Pattaya Spotter Posted October 15, 2020 Share Posted October 15, 2020 20 minutes ago, mikebell said: Watch property prices drop as people struggle to live in the new normal. I hope so...maybe pickup a nice condo or house cheap. 1 Link to comment Share on other sites More sharing options...
Pib Posted October 15, 2020 Share Posted October 15, 2020 (edited) 1 hour ago, Pattaya Spotter said: I hope so...maybe pickup a nice condo or house cheap. No doubt in places like Pattaya, Phuket, parts of Bangkok, and other farang heavy locations there will be very significant price drops, but those locations are only a small part of Thailand. When looking at Thailand as a whole, the housing market price index will continue its multi year trend upwards like shown below for the Bangkok metro/surrounding area. And I sure know from my Thai famaily/friends who live out in the provinces they freqeuntly mention how land and building prices have went up so much over recent years. COVID will just cause a short term dip which can already be seen on below Thailand House Price Index. Plus, when land/building prices do decide to dip it seems the Thai mentality is just to stick with their current selling price....take it or leave it....that sure cuts down on the number of sales but keeps the price high. https://tradingeconomics.com/thailand/housing-index Edited October 15, 2020 by Pib Link to comment Share on other sites More sharing options...
Pattaya Spotter Posted October 15, 2020 Share Posted October 15, 2020 1 hour ago, Pib said: No doubt in places like Pattaya, Phuket, parts of Bangkok, and other farang heavy locations there will be very significant price drops, but those locations are only a small part of Thailand. Perfect...I'd never live in Nakhon Nowhere. 2 Link to comment Share on other sites More sharing options...
Magenta408 Posted October 15, 2020 Share Posted October 15, 2020 It seems that those who had bought the Elite Card some years ago were not even allowed to enter the country. Caveat Emptor. Link to comment Share on other sites More sharing options...
chainarong Posted October 15, 2020 Share Posted October 15, 2020 You would need a reverse proof agreement that the Thai Government can't wriggle their way out of, unfortunately these deals can be reversed at a drop of a hat, risk assessment needs to be fully thought out, after looking at this year, I can't place any trust in any countries Government in any future years, anything can happen. 1 Link to comment Share on other sites More sharing options...
Cranky Posted October 15, 2020 Share Posted October 15, 2020 Just another kick in the teeth to those that have already invested millions in condos and are as welcome as a fart in a spacesuit. Or not welcome at all as they can't get in. Good luck to those dumb enough to fall for it. 1 Link to comment Share on other sites More sharing options...
A512 Posted October 15, 2020 Share Posted October 15, 2020 oh Man this is over bloated. they were desperated now they are freaking out. Link to comment Share on other sites More sharing options...
mikebell Posted October 16, 2020 Share Posted October 16, 2020 22 hours ago, Pattaya Spotter said: I hope so...maybe pickup a nice condo or house cheap. Don't buy a house! You can never own it 100%. Those who set up a company will assure you it is foolproof until the <deleted> hits the fan. Then they will tell you both sets of shareholders are liable for jail. I've got the T-shirt. 1 1 Link to comment Share on other sites More sharing options...
A512 Posted October 16, 2020 Share Posted October 16, 2020 (edited) 2 hours ago, mikebell said: Don't buy a house! You can never own it 100%. Those who set up a company will assure you it is foolproof until the <deleted> hits the fan. Then they will tell you both sets of shareholders are liable for jail. I've got the T-shirt. fully agree. foreign are not entitled to own land in this country. period. buy a boat but not a house. But if you're married with a decent thai woman and you trust her that's one option, but again you will own a shot in your name. Edited October 16, 2020 by A512 Link to comment Share on other sites More sharing options...
seancbk Posted October 16, 2020 Share Posted October 16, 2020 On 10/13/2020 at 9:25 PM, Peterphuket said: Yeh, but no freedom anymore....When I see Carry Lam, I prefer to stay here, and it will be worser, you know that. Honk Kong is lost forever. Yes, it is sad to say but although I am a Hong Kong permanent resident I will never live there again. I still have family and 100's of friends there so I will keep visiting to see them. Thailand is now my home. 1 Link to comment Share on other sites More sharing options...
ChipButty Posted October 16, 2020 Share Posted October 16, 2020 3 hours ago, mikebell said: Don't buy a house! You can never own it 100%. Those who set up a company will assure you it is foolproof until the <deleted> hits the fan. Then they will tell you both sets of shareholders are liable for jail. I've got the T-shirt. Been on the Video yet? Link to comment Share on other sites More sharing options...
mikebell Posted October 17, 2020 Share Posted October 17, 2020 23 hours ago, A512 said: fully agree. foreign are not entitled to own land in this country. period. buy a boat but not a house. But if you're married with a decent thai woman and you trust her that's one option, but again you will own a shot in your name. I thought I had married a decent Thai lady but she connived with the audit company to alter share holdings so she owned more shares than me. I signed all the Thai documents in my innocence and trust. My farang children lost a chunk of their inheritance. Link to comment Share on other sites More sharing options...
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