Calls to give foreigners who buy a condo residency in Thailand

[Megasin1]

2 minutes ago, digger70 said:

If they would be Serious . 

Why can't they give 5 year Visas/Extensions  now to everyone ? 

The people ,Expats,who Live/Reside here are spending all their money and keeping Thai Families  Alive .

Whats the difference ? the People and Expats will spend more then the 5 Mill Thb over a few years by Building Houses ,Buying Vehicles and what not and Lost More .

well digger, perhaps you aren't Chinese ????

[quake]

51 minutes ago, Jaggg88 said:

I like what she's done with the place. I think they call it shabby chic ????

Posh knobs, 

 

 

Edited November 1, 2020 by quake

[digger70]

3 minutes ago, Megasin1 said:

well digger, perhaps you aren't Chinese ????

That's  For Sure. ????

[sead]

How they always find a way to keep the rich more rich. 

[Dogmatix]

On 10/28/2020 at 9:05 AM, NCC1701A said:

Edited November 1, 2020 by Dogmatix

[Dogmatix]

Sounds the developers believe this will be a great way to sell 5 million baht condos to Chinese for 10 million.

[Damrongsak]

1 hour ago, Jaggg88 said:

I like what she's done with the place. I think they call it shabby chic ????

The wheel covers on the fence is a nice touch. 

[Duetto]

Not sure, why Jeffr2 has to generalize "dirty farangs" - what about people from other parts of the world, who just love Thailand for its food, the beauty of the country, its landscapes, the climate - and me, for example, just being a Durian-addict on top of that. Seeing every white person as a "dirty farang" is - in my humble opinion - xenophobic, dangerous and simply wrong. Help your girls to get an excellent, free education and decent jobs instead of let them being exploited by the local (not foreign) mafias that force them into the kind of jobs, where the only way for them to survive is to provide "services" to "farangs". See the bigger picture, not just spread hate against all foreigners who contribute to your economy.

[Damrongsak]

11 hours ago, Grumpy John said:

What a charming row of cottages...and with water views.  Would be a bargain for 10.000.000 barfs. If you buy in there do you get permanent residency? 

If you get stuck in there, it's rather hard to leave.  We had to build her mom something a bit better on the edge of town.

 

[johnmcc6]

Whats a measly 10 mill between friends.??These clowns must be stoners!

[3NUMBAS]

buying into a property crash doesnt make sense ,shades of 97 looming

[Enzian]

Look, if this ever stops being a paradisiacal renters' market I will eat your shoe, and your loy kratong boat too.

"ceterum autem censeo China esse delendam" (with thanks to Cato the Censor)

[zaZa9]

With their constant twigging of laws here , you all dont think they wont revoke any incentives once the condos have all been sold ??

[Medelline]

5 million baht in exchange of 5 years visa, 10 million baht in exchange of  residency   sounds  great 

[jerolamo]

13 hours ago, cardinalblue said:

Is there really a 10M baht condo market?

That means quality fixtures and appliances installed...

 

my observation here is one unnamed but the biggest real estate developer in LOS uses the same materials they put in their 3M baht homes as they do they put in their 10-20M baht homes...

 

This is huge mistake property developers make here...good value for low end homes but terrible for homes over 7M baht homes not to upgrade materials, fixtures and appliances to reflect the home sale price...I view it as trying to pull a fast one as if the uneducated buyer won’t notice...

 

I wonder if this occurs in the condo market which I am completely unfamiliar with...

yes sure, because you are a builder, you are able to see the real fact of what is a construction quality.

There is quality building for government and some temples.

They do use stranger architect design and use it again and again across the country when required (because government know that it is cheaper in long time used).

Also, you can build with armed wall without their little bricks, but it will be very expensive and you have to found people who doesn't put to much water in the cement/concrete mixture (they don't know nothing about cement and concrete or mortar quality).

At the final time, what you will not have, even if a strong construction at expensive price, is a low level infrastructure: electricity and water.

Electricity, everywhere is down to 50 years ago knowledge level down (just log the line with 5 KW of charge only and you will see... everywhere !), and water quality is out of consumption (but they use recycled water center who is maybe a better local economy but not a real standard easy to control).

Thai people also don't understand all of this story around... they have absolutely no clue with that. They can not understand as long as: 1/ they didn't go other place with high grade standard, and 2/ they didn't study one of these technologies to touch a reality who doesn't exist for them.

The good point is for network connection... optical fiber everywhere is possible for cheap, and they use it. Next would be to be for SIP to be able to provide fixed ipv6 address for non professional (actually dynamic IP only, i don't know why but it should have an economic business reason).

 

[harleyclarkey]

Great isn't it? For decades we westerners have held up the Thai condo Market and had to go through hassle after hassle, stress and turmoil and innumerable hoops to stay in the country. In fact after buying a condo they didn't want us here.

Now they kowtow to the fri## in Chinese, the new boys in town, with the probability of a problem free residency. 

 

You really know Thailand how to rub our noses in it. 

[solafr]

On 10/31/2020 at 9:00 PM, misterjames said:

They are getting desperate aren't they? ????

 

Yes, and I love to see it !

 

[Truth Will Set You Free]

Prior to the pandemic, the PM has his racist remarks about foreigners, and the news spread to US, Europe and other countries.  

 

We were dirty and  we were the cause of the virus being spread over the globe. China was their savior. 

 

No western foreigner wants to invest in this country anymore and here why:

1. The cost of the Condos are to much.
2. Once it paid for the maintenance fees are still to much.
3. The property owners does not use the maintenance fee to upkeep the property and within 3-5 years you can see the property starts to go down.
4. The law does not protect foreigners against the property owners when they invest in Condo’s or homes. 
5. Why should foreigners have to have 800,000 baht in a Thai bank to get a retirement visa when they have invested their life saving in a Condo or a home. 
6. Now that money ha to be in the bank 90 days before you apply, and you can not use it until 90 days afterward. 
7. Other countries requirements are way less and the laws doesn’t change. There is always something new when it comes to Thailand. 
8. Foreigners that own property now, can not get back into the country due to the new requirements, but the they allow their own citizens to return and they don’t own any property. 
9. The government has allowed business to charge foreigners more (dual pricing) than it citizens making a statement and known that foreigners can afford to pay more. 
10. The baht is strong which makes no sense when are other currencies are changing. If there is no investments going on in the country, why wouldn’t it change to bring investors in? 

I am sure there more that can be added to this list, but let it be known, I have passed everything I have read on what this government has said and done to keep foreigners from being here. I am pretty sure others have too.
 

So why would anyone other than the Chinese wants to invest in this country? 

[Miss Pickle]

What about the people who already own condos and can’t visit them .I paid 20 Million for mine.

[Damrongsak]

21 hours ago, Damrongsak said:

I prefer an economical row house with a river view (Loei).  Like where my wife lived when we met.

 

 

But I do like a standalone house like my Sis-in-Law's house.

 

 

 

Hey, folks, it was fun about 1977 when the river overflowed about 1 meter over the banks into the house.  Carry anything you can up to the second floor and deal with the mud slime later.  Woof!

 

My sis-in-law's place is across from our new compound.  She's a junk/recycle dealer.  Fortunately our house is across the street and we can barely see her house.  But she saves oddball antique stuff for me and they maintain our house and yard.  We don't have to worry much about not being there.

 

Our house right across the street has a nice view from the porch over a swamp.  Phu Boabit in the distance.

 

 

 

[Jeffr2]

10 hours ago, DBath said:

This link is to an article from 2012, a bit more than a “few years ago”, so I doubt you can still get in on that deal for 160,000 euros. 

Understood!  Just pointing it that this has been done before by other countries.  Not a bad tactic for them to try here!!  Can't hurt.

[KhaoYai]

On 10/31/2020 at 2:04 PM, Gumballl said:

It is what the gov't does after consuming a few cocktails... they spew out laughable ideas.

I don't think the Head of the Thai Condominium Association is a member of the government ????.

[scorecard]

12 hours ago, newnative said:

      I don't know how big a market it is but, obviously, there is a market for expensive condos.  I've mentioned several times a new condo project near my Bangkok condo called The Esse at Singha Complex. Average price per sqm is 286,000 baht.  35sqm 1 bedrooms can run 10MB and up.  2 bedrooms of 76sqm can go for 26MB.  Magnolias Waterfront Residences clock in at 288,000 baht a sqm.  

     The cheapest condo at 98 Wireless, often mentioned as one of the most expensive condo projects in Bangkok, is 78MB on Hipflat.  644,000 baht a sqm.  One of the attractions to these projects is fewer units.  319 at Esse and only 77 units at 98 Wireless.  Before construction, the developer knows going in that it is going to need to find X number of buyers.  The developer of 98 Wireless, Sansiri, with substantial international contacts and a strong local reputation, felt it could find  those 77 buyers.   

     It may actually be harder for some developers to find 1000 buyers for the 1000 units of 2MB to 3MB nondescript, small, lookalike, no view, low-rise condos in their projects, often in not prime locations in Pattaya.  I can think of probably a dozen of these projects at around 1000 units or more each.  Some have more than 1500 units.  That's a lot more buyers to find and it definitely needs to be a substantial market, which it isn't now. 

All understood, I don't know today but over the years  (I've worked in LOS 30+ years) but I am aware that a very high % of the units in expensive/very expensive condos were bought by Thai citizens and in plenty of cases the purchasers were Thais who owned multiple very high end/very expensive condos. 

 

Has that changed? I rather doubt it, still plenty of Thai folks and for a large % of these folks their wealth hasn't decreased (also refer the massive gaps in income and wealth in the LOS).

[Dionigi]

The way to stop the glut of condos is to start thinking for themselves and stop jumping on the bandwagon and just building more.

[Stargeezr]

What does a 10 million baht condo look like? Is it the bunch of penthouse suites

at the top of some high rise in Bangkok? There are whole houses that are 3 bedroom

around the country that cost only 3 million.  Just wondering if it is only the Elite fold

that this article is about?

Geezer

[Stargeezr]

Elite Folk....

[newnative]

4 minutes ago, scorecard said:

All understood, I don't know today but over the years  (I've worked in LOS 30+ years) but I am aware that a very high % of the units in expensive/very expensive condos were bought by Thai citizens and in plenty of cases the purchasers were Thais who owned multiple very high end/very expensive condos. 

 

Has that changed? I rather doubt it, still plenty of Thai folks and for a large % of these folks their wealth hasn't decreased (also refer the massive gaps in income and wealth in the LOS).

      I agree that there are plenty of Thais with money to buy the high-end condos and I don't think that has changed.  The condo project my partner and I own a condo in in Bangkok, and which is considered fairly high-end, was built 7 years ago and when we bought this year there was still foreign quota available with almost all of the units sold so most of the buyers have been Thai.  In the parking garage almost every other car is a Mercedes, BMW, Audi, or Volvo, with one or two Lamborginis and some other exotic cars thrown into the mix.  I spotted my first Bentley SUV I'd ever seen in Thailand in the parking lot. 

     Also true regarding Thais buying multiple condos.  When we recently sold a Pattaya condo in the above 10MB price range, a Bangkok Thai family that already owned one condo in the project almost bought our unit.  The condos on one floor of the project were all owned by one Thai family.  Except for some foreign owners, most of the owners were Bangkok Thais and the condos were second residences.  Of course, lots of other condo projects in Pattaya also have Bangkok Thai and other Thai owners. 

[hotchilli]

On 10/31/2020 at 8:43 PM, rooster59 said:

But she advocated foreigners be given migrant status if they invest 10 million baht.

20 years ago I married in Thailand, we relocated to UK for the first 5 years.

My wife was given a 2 year visa issued in Thailand to come to the UK.

At the end of the 2 years all we had to do was prove that we were still together, this was done with dual names on bank accounts and utility bills.
This was then posted to the office [no visit required] she was given residency status, no more visa's, no visits, no checks nothing... and no costs involved.
It's a shame Thailand cannot follow suit and give people some respect instead of fleecing them at every opportunity.

We returned here to live and 15 years later on a retirement visa I'm still doing 90 day reports like someone out on probation.

[HashBrownHarry]

25 minutes ago, Stargrazer9889 said:

What does a 10 million baht condo look like? Is it the bunch of penthouse suites

at the top of some high rise in Bangkok? There are whole houses that are 3 bedroom

around the country that cost only 3 million.  Just wondering if it is only the Elite fold

that this article is about?

Geezer

10MB won't get you a penthouse in BKK.

[Mr Meeseeks]

6 minutes ago, hotchilli said:

20 years ago I married in Thailand, we relocated to UK for the first 5 years.

My wife was given a 2 year visa issued in Thailand to come to the UK.

At the end of the 2 years all we had to do was prove that we were still together, this was done with dual names on bank accounts and utility bills.
This was then posted to the office [no visit required] she was given residency status, no more visa's, no visits, no checks nothing... and no costs involved.
It's a shame Thailand cannot follow suit and give people some respect instead of fleecing them at every opportunity.

We returned here to live and 15 years later on a retirement visa I'm still doing 90 day reports like someone out on probation.

While I understand the sentiment behind your post I am yet to read one valid reason why married or retired men should receive automatic permanent residency status? 

 

Most can't speak Thai, have no interest in integrating to the country or culture, many don't ever even eat the local food, etc?

 

Reminds me of the enclaves of different cultures that have sprung up in the UK with absolutely no interest in British values, culture and integration.

 

I think the biggest worry from the Thai authorities is exploitation from foreign men with a large disparity in wealth and education from poor Thai women, often working in the sex-trade.

 

Anyway it is easy enough for married and retired persons to stay in Thailand, albeit temporarily, on a year to year basis, so we can't really complain.

 

Sorry, this is one area where I stand solidly with the Thais on their immigration policy.