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

[maqui]

7 hours ago, richard_smith237 said:

There must be some who attend these discussions held behind closed doors who want to smash their heads against the wall. 

I imagine a bunch of pointy-eared, orange-eyed orcs that have invaded the TAT basement from Mordor, have been put into alternative state quarantine, and now serve as its oracle, sitting in a circle on a dirt-encrusted carpet in a dark cellar, drawing from a bong. Whenever a poor TAT assistant is sent down to the basement, every other day ("Ask the oracle to come up with a new idea"), and knocks on the heavy door and asks them in a quavering voice ("O wise ones, what shall we do?"), the orcs inhale, giggle nastily, and then the orc speaker of the day announces, in a booming, hollow Charlton Heston voice, a new phantastic concept to the pilgrim.

After all, even orcs have to earn the ASQ fees. 

[newnative]

3 hours ago, bodga said:

Where  do  I  apply for my 7  condos Ive  bought over the last 15 years?

Me, too!

[jkcjag]

7 hours ago, ThailandRyan said:

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

What’s the point of comparing two totally different lifestyles and totally different living environments? 

[newnative]

2 hours ago, Pattaya Spotter said:

I don't except your premise that large numbers of buyers of 8 & 8+M Bangkok condos aren't living in them. They might only be using them as second or vacation or investment properties but that's still occupying them. Do you have any sources that say otherwise...that there are a lot of expensive sold condos that are going unoccupied?

Agree, including myself.

[ThailandRyan]

4 minutes ago, jkcjag said:

What’s the point of comparing two totally different lifestyles and totally different living environments? 

Metaphorically speaking and a conundrum to what you can or can not obtain with this dog and pony show here in Thailand.

[ChipButty]

I thought it was a good idea I'll go and buy another condo next week

[Hockeybik]

4 hours 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.

In Thailand the proposal that makes it to the public would be shot down the first time it was thrown out to the group in most other places. They really need to look a little harder at the schemes they try to float before they put it out.

[Cranky]

7 hours ago, Oldie said:

Just don't forget to read the fine print. Visa regulations can change at any time...

And past performance is a definite guide to the future

[bimmerbob]

7 hours ago, ThailandRyan said:

Why would anyone want a cracker box 35 to 50 SqM condo. That's what 8 Mthb will buy you in Bangkok.  Why plow a million USD into real estate to get a work permit.  More carrots being dangled that are coated with vinegar.

Does Thailand actually realise how much they have alienated foreigners in general through their ever increasingly childish visa/investment schemes, which if truth be told is going to hurt the country in coming years.

It's mainly retirees who choose to live in Thailand, they are not after work permits anyway.

For once, wake up Thailand......

[benny1503]

Do you think this would apply if I had already purchased a property over 8 million baht 9 years ago or does it only apply to people who invest over 8 million baht from now ?

[jwbrit]

I wonder why the Thai govt doesn't have some interactions with foreign consulates or arrange for focus groups to get some actual and useful feedback on what would entice foreigners to come to Thailand.  As it is they have a new idea every week that is just ridiculous and out of touch with reality.

[newnative]

2 hours ago, DjSilver said:

a 35 -50 sqm condo costs only between 1-2 milion baht in Bangkok. I dont know where you get your numbers from. I have a 25 sqm that was bought directly new from the contractor in 2016 for 850k baht and now is worth around 1 milion baht and the location is on nut by the bts.

   You're both incorrect with your blanket statements.  There's no one answer fits all.  The price of a condo--anywhere--will be determined by lots of factors.  Same with Bangkok.  Yes, you can buy a 25sqm condo for around 1 to 2MB in some condo project somewhere in Bangkok.  Yes, you can also spend 8MB for a 35 to 50sqm condo in some condo project somewhere in Bangkok.  Likely one will be in a highly desirable project in a highly desirable area and the other, less so.

  

[jkcjag]

8 hours ago, NCC1701A said:

do you have any idea how nice and huge a house you can buy in rural USA for a million dollars cash?

 

even in this inflated market you can buy a ranch on 5, 10, 15 or more acres, or a compound outside of a ski resort. 

Prices depend on supply and demand. Clearly very few people want to live in rural USA, hence the price difference.

[olfu]

7 hours ago, Pib said:

Usually failures teach organizations and people how not to repeat the same or similar failures.   Apparently such a learning experience does not work in Thailand because This Is Thailand.

Unfortunately its not limited only to Thailand.

[Thomas J]

8 hours ago, NCC1701A said:

do you have any idea how nice and huge a house you can buy in rural USA for a million dollars cash?

 

even in this inflated market you can buy a ranch on 5, 10, 15 or more acres, or a compound outside of a ski resort. 

NCC1701A 

You are correct.  Yes places in areas like New York City and most of California are very expensive.  However in Texas you can buy as much and maybe even more home for your money than here in Thailand.  There are many areas in South Carolina, Florida, Tennesee etc that the same is true.

Here is a listing in Kingwood which is an affluent adjoining area to Houston.  

Here is one example.  Large 4 br home with brick 4 bedrooms 2.5 baths and ASKING price is $188,000 USD


 

[J Town]

An agent costs between 10-20k baht annually. Now WHY would I want to tie up 8 MILLION in a country without a solid rule of law guaranteeing I'll get that money back?

[impulse]

I get a kick out of all the guys who think this program is even aimed at western tourists.

 

[sekmet]

So, that's US$257,000 for a condo.

[Morty T]

2500 sq ft/4 acres. 299k and no hoops to jump through. Oxford, Mass. Sorry, Thailand, just sold my condo in CM and I have no intention of ever returning. It was fun for 4 years, but you forced me out and now I'm your unofficial ambassador as to why one should never consider the LOS as a retirement destination. Then again, you do most of my work by yourselves.

[FlyingThai]

8 hours ago, ThailandRyan said:

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

Let's not forget he also has to take care of these 5 acres and a use of 3500 sqft.

 

Annual (property) taxes, insurance, maintenance cost etc not even considered yet. Local cost of living, income tax, health insurance on top of it all.

 

It's comparing apples to oranges saying you can whatever kind of property for the same money in Australia, Europe or North America. There is usually a reason why someone want to leave his home country.

[ThailandRyan]

3 minutes ago, sekmet said:

So, that's US$257,000 for a condo.

Yes, and for that amount let's say in Las Vegas, Nevada, you can buy a nice 2 Bdrm/2Ba of around 1200 SqFt, or about 111sqm. So more bang for your buck.  Condos of over 82 SqM here, unless they are older units and in need of remodeling run even more than that. In my Condo here in Bangkok, and it is 15 years old, the 52SqM and 64SqM condos are selling for between 9MB and 11MB, with another penthouse selling for 56 MB. But then this is Thailand where things are over priced in order to make developers richer.  Import fee's make vehicle like a Mercedes, BMW, Porsche, Volvo, or an Audi, twice as expensive as well.  So when you choose to spend your money here it pays to do your due diligence, and this new proposal does not stand up to the Litmus test.

[Pattaya Spotter]

57 minutes ago, bimmerbob said:

Does Thailand actually realise how much they have alienated foreigners in general through their ever increasingly childish visa/investment schemes, which if truth be told is going to hurt the country in coming years.

It's mainly retirees who choose to live in Thailand, they are not after work permits anyway.

For once, wake up Thailand......

Nothing has changed for retirees except for those who had the misfortune to be out of Thailand when the pandemic struck. When things return to normal (or maybe sooner) they'll be welcome back.

[Pattaya Spotter]

42 minutes ago, Thomas J said:

NCC1701A 

You are correct.  Yes places in areas like New York City and most of California are very expensive.  However in Texas you can buy as much and maybe even more home for your money than here in Thailand.  There are many areas in South Carolina, Florida, Tennesee etc that the same is true.

Here is a listing in Kingwood which is an affluent adjoining area to Houston.  

Here is one example.  Large 4 br home with brick 4 bedrooms 2.5 baths and ASKING price is $188,000 USD


 

Is that the Houston neighborhood that flooded for months on end a year or so ago...might explain the price. And this thread is about visas to Thailand not real estate prices in the United States. The price might as well be free as most people can't legally pick-up sticks and move to the United States like they can to Thailand. 

[Airalee]

3 hours ago, Pattaya Spotter said:

I don't except your premise that large numbers of buyers of 8 & 8+M Bangkok condos aren't living in them. They might only be using them as second or vacation or investment properties but that's still occupying them. Do you have any sources that say otherwise...that there are a lot of expensive sold condos that are going unoccupied?

I’m living in one of those new “150-200k baht per square meter” condos that you allude to in your previous posts.  Ownership transfer started June 1st of this year.  There are currently 5 units occupied out of 300+ condos.  It’s great!  I can walk naked in the hallways and management is actually letting me stay, for free, in the unit next door as I do a full gut remodel of my place.  Next month we are expected to get our 6th resident.

[Pattaya Spotter]

39 minutes ago, impulse said:

I get a kick out of all the guys who think this program is even aimed at western tourists.

 

Their world still revolves around themselves and the Raj...still haven't come to grips with the fact most of the West is an economic has-been. Plenty of people in China, and the rest of Asia, would consider the prices being bandied about by the Thais "cheap as chips" as these people like to say.

 

Chinese Exports and Imports Reach Record High In Sept.

https://www.cnbc.com/amp/2020/10/13/china-says-exports-and-imports-rose-in-the-third-quarter-in-yuan-terms.html

[DrTuner]

5 minutes ago, Airalee said:

I’m living in one of those new “150-200k baht per square meter” condos that you allude to in your previous posts.  Ownership transfer started June 1st of this year.  There are currently 5 units occupied out of 300+ condos.  It’s great!  I can walk naked in the hallways and management is actually letting me stay, for free, in the unit next door as I do a full gut remodel of my place.  Next month we are expected to get our 6th resident.

If you make enough phee sounds Thais will think it's haunted and you'll get the whole building to yourself. Not bad. Might be a tad difficult to sell though.

[pookondee]

8 hours ago, Wonderboy said:

How can you buy a condo if you are not in the country? If you are, then you already have a visa...

Crivens man, dont worry about such small details like that.

They will have some Somchai agent you can send your 10mill baht to.

Just give him the address and he will fix it all.

555

 

[seancbk]

9 hours ago, ThailandRyan said:

Why would anyone want a cracker box 35 to 50 SqM condo. That's what 8 Mthb will buy you in Bangkok.  Why plow a million USD into real estate to get a work permit.  More carrots being dangled that are coated with vinegar.

 

Because a 30 sq/m studio in Hong Kong will cost you 22,500,000 THB and will be in a building with no pool or gym.  

Or how about 25 sq/m for 25,000,000 THB, or 32,000,000 THB for 32 sq/m 

I could point out that although HK is easier to live in as more people speak English, Bangkok has over the past 12 years caught up and in many ways exceeded Hong Kong as a desirable place to live.  At least before Covid, when we had more and more high quality restaurants opening, the club scene was vibrant, new high end malls and more choice of high end clothing etc.

 

[Pattaya Spotter]

10 minutes ago, Airalee said:

I’m living in one of those new “150-200k baht per square meter” condos that you allude to in your previous posts.  Ownership transfer started June 1st of this year.  There are currently 5 units occupied out of 300+ condos.  It’s great!  I can walk naked in the hallways and management is actually letting me stay, for free, in the unit next door as I do a full gut remodel of my place.  Next month we are expected to get our 6th resident.

Too bad you didn't get here in 1999 like some of us.

[michaellee]

Not thay desperate to go back for another year. When the vaccine is out then I will travel back for free without any stupid investement.