Foreigners offered new ‘smart visa’ if they buy a condo in Thailand, Elite Card holders offered work permits

[Pattaya Spotter]

5 minutes ago, cardinalblue said:

Sorry guys but thailand isn’t that great that one has to buy a condo to gain access privilege to the country...

 

talk about over-inflating one’s self image...

Maybe not to you but for many others it is...during the last economic crisis in 1997-98, there was a condo-visa incentive program that was very popular and back then the required investment was only 3M I believe.

[onebir]

3 minutes ago, Pattaya Spotter said:

Maybe not to you but for many others it is...during the last economic crisis in 1997-98, there was a condo-visa incentive program that was very popular and back then the required investment was only 3M I believe.

Wasn't that also horribly expensive (by standards of the local market) then?

[DrTuner]

Uhhuhuuhuuu, a work permit, yay! Or I could put 250k€ into property in Greece and get a residence permit. Or double the 1M and get citizenship in Cyprus. Both EU countries. Or citizenship in Vanuatu, a commonwealth member with visa-free access to EU and UK for ~150k$. Or, or, or. Seems to be the crappiest deal on the table.

 

Usurpers are suffering from megalomania.

[connda]

And if you have two million THB you can capitalize your own business to fill the niche left in the wake of business failures.  Just wait for the niche to develop.  $1M USD for a work permit.  <scoff>

[malathione]

2 hours ago, NCC1701A said:

the government is so clueless. what they should be doing is setting the price at one million baht for a condo and a free elite visa for 5 years. then the glut of condos, especially at the low end would be cleared overnight and the Thai real estate market will recover faster. 

 

 

 

 

Then it wouldn't be Elite but Proletariat. I do agree with you that the current suggestions are plain stupid.

[khunpa]

Great time to buy a condo. You can always rent it out to one of the many tourists if you do not use it yourself.

 

Also for sure the price will go up, as there is huge demand and nearly no empty condos left.

 

I don’t know about you, but I am heading out to buy on right now.

[Mr Meeseeks]

8m thb for a condo to get a visa? That's ridiculous! 

 

It should be at least double that, to keep the dreamers, balloon chasers and potless sexpats away! 

[varun]

So the 'Smart Visa' is for stupid people - TiT

They may as well call it 'Sick Buffalo Visa'

[Pattaya Spotter]

16 minutes ago, onebir said:

Wasn't that also horribly expensive (by standards of the local market) then?

Not really...especially for a Bangkok condo at the time (the program may have been limited to Bangkok and Pattaya) and was for new units only. Of course, prices back then, shortly after the crash, were completely different than now. Class A units in central Bangkok could easily be had for 35-50k per sqm...now prices are 150-200k and up.

[FinChin67]

Starts to sound desperate...

[Pattaya Spotter]

17 minutes ago, DrTuner said:

Uhhuhuuhuuu, a work permit, yay! Or I could put 250k€ into property in Greece and get a residence permit. Or double the 1M and get citizenship in Cyprus. Both EU countries. Or citizenship in Vanuatu, a commonwealth member with visa-free access to EU and UK for ~150k$. Or, or, or. Seems to be the crappiest deal on the table.

 

Usurpers are suffering from megalomania.

So many posters look at everything through their Western lenses...most "filthy rich Asians," to which this type of visa scheme is directed, don't want to live in any of those countries, but might quite fancy Thailand.

[vandeventer]

So the more we spend the bigger the prize? Other than a visa is there anything else you would like to offer us? Like maybe a free Air trip some where else, hassle free no 14 days in jail going and coming back and free insurance both ways. Tempt us!

[LukKrueng]

Seems to me all these "ideas" are only for show: 

1. To the tourism sector that they are trying to bring in tourists and foreigners

2. To the majority of Thais (according to the ridiculous surveys with samples of about 1000 people) that they are kipping the country safe. 

 

If they were serious about letting people in they would just open the borders (yes, with covid tests and maybe even a couple of days quarantine until the results come back) 

[PETERTHEEATER]

3 hours ago, ThailandRyan said:

Son just bought a 3500sqft house on 5 acres in Montana for 560k

Yes, but does it have a 7/11 within 50 meters?

[rtco]

What's it called ... clutching at straws!!!

[DrTuner]

3 minutes ago, Pattaya Spotter said:

So many posters look at everything through their Western lenses...most "filthy rich Asians," to which this type of visa scheme is directed, don't want to live in any of those countries, but might quite fancy Thailand.

Filty rich Asians seem to be in Tokyo, Seoul, Shanghai, Hong Kong, Singapore, etc, where they have actual working infrastructure .. and a more western oriented local culture. Would have to me mighty fine totty to lure them to the <deleted>hole that is BKK.

[Pattaya Spotter]

2 minutes ago, DrTuner said:

Filty rich Asians seem to be in Tokyo, Seoul, Shanghai, Hong Kong, Singapore, etc, where they have actual working infrastructure .. and a more western oriented local culture. Would have to me mighty fine totty to lure them to the <deleted>hole that is BKK.

Bangkok condo purchase demographics over the past half decade would disagree with you.

[miamiman123]

Old Chinese proverb: “if you don’t do stupid things, you won’t end up in tragedy”

old American proverb: let the buyer beware!!! 
best advice 

 

[Call]

Please stop! I can´t take it anymore  

[DrTuner]

1 minute ago, Pattaya Spotter said:

Bangkok condo purchase demographics over the past half decade would disagree with you.

Condo purchases don't equate to people actually living in them. 

[PEE TEE]

Tomorrow will b another crazy idea to get people to stay here . now they know the STV idea is a no go 

[Pattaya Spotter]

11 minutes ago, DrTuner said:

Condo purchases don't equate to people actually living in them. 

Not sure what point you're making...sold is sold and the money's been made. Who cares if the buyers live in them or not.

[agood1963]

3 hours ago, webfact said:

Now they are dangling a changed "smart visa" before the eyes of condo buyers and even promising to throw in an "Elite Card" if you spend enough in the real estate market.

And the Thai dream continues , buy a condo and within 12 months it is worthless but we are happy because we have got your money .

[DrTuner]

4 minutes ago, Pattaya Spotter said:

Not sure what point you're making...sold is sold and the money's been made. Who cares if the buyers live in them or not.

I'll refer to your comment:

Quote

most "filthy rich Asians," to which this type of visa scheme is directed, don't want to live in any of those countries, but might quite fancy Thailand.

 

I think we saw with the STV just how much Chinese want to come here. The rich ones are desperate to get their money laundered outside China, since they fear CCP can take it at any time, BKK condos are good for that. But they won't live there.

[BlackJack]

plenty of chinese wanting to get out of china would love this

 

[welshguy]

1 hour ago, Pattaya Spotter said:

Keep in mind these are only proposals...and every country is struggling to find d ways to safely re-open their borders.

I appreciate that...

 

I am amazed why Thailand has so many crackpot ideas...and also, I quite agree with any country opening their borders safely..

 

However, by spending millions of baht on a condo or whatever...how does that relate to opening borders "safely"?  I fail to see how somebody buying a condo etc is any safer than somebody not buying a condo?

 

[Ketyo]

Everything idea they have is unattractive. Keep it for eight years!!!  Who is going to commit to invest a lot in any assets for eight years. Life is too short.  They really have not got a clue about what people want.

 

However, I could imagine desperate Hong Kongers looking for a bolt hole. They should consider that Thailand is putting in place the same security laws and dictatorial regime as Hong Kong and getting rid of democracy in the same way. With the advice and support of the Chinese.

 

If they want a safe option they need to look further afield like UK, Australia or Canada.

[barney42bb]

This whole COVID19 thread of lame, doomed initiatives, to deal with the decline of the Tourism Thailand claims NOT to be dependent on. 

 

Well it runs like a Cartoon strip..... The Coyote trying to snare The Road Runner..... All fail miserably.

[Strongheart]

LMMAO!!!

Buy a condo for 8 MILLION and keep it for 8 YEARS ???

Make this fantasy numbers game a lucky one please!

How about: Buy a condo for 9 million  and keep it for 9 years.

????????????????????

[holy cow cm]

Isn't it still at that 51% of the condos in the building still have to be under Thai ownership? So anyway they look at it is the building will still be 1/2 empty or dead.