Thailand’s 5 year visa with condo purchase scheme will do little to spur real estate market, says Thai media

[biggles45]

I seem to recall that when the CV19 restrictions first hit, Elite visa holders were NOT allowed to re enter? 

[impulse]

Does anyone really believe they're not going to be charging the condo seller for the Elite visa, driving up the cost of the condo in the first place?

 

[CharlieH]

Reported post with excessive use of CAPS removed.

[Saratoga Slim Anon]

2 hours ago, biggles45 said:

I seem to recall that when the CV19 restrictions first hit, Elite visa holders were NOT allowed to re enter? 

Yes and retirement visa holders that owned property. This should never happen again. The government wants investors and then disrespects them at the tip of a hat. 

[Albert Zweistein]

2 hours ago, Saratoga Slim Anon said:

Yes and retirement visa holders that owned property. This should never happen again. The government wants investors and then disrespects them at the tip of a hat. 

I have blacklisted LOL a very long time already.

[hotchilli]

19 hours ago, RotBenz8888 said:

Exactly in fact, if they manage to fool even one, I'd be surprised. 

Themselves?

[kiwikeith]

19 hours ago, Airalee said:

Many first world countries and other tropical paradises will offer permanent residency or even citizenship for a real estate investment that starts at US$125,000 (฿3,750,000) and for most people, are more attractive options than Thailand.  Perhaps if Thailand lowered the bar to ฿3,000,000 to ฿4,000,000 and gave a lifetime Elite Visa they would get a decent amount of condos sold.  
 

It would be a win-win for all parties involved.

 

Supply....meet demand.

 

https://citizenshipshop.com/property-investment-based-citizenship-and-residency-schemes/

My thoughts exactly. 

On the other hand rental prices are still up and properties are still priced high. 

I rent a property in Hua Hin and the landlady is lucky I still rent it as I'm stuck here in NZ. 

There must be some bargains around though, but I am not able to shop at present but hopefully I'll be able to get back early next year. 

[Iron Tongue]

6 hours ago, impulse said:

Does anyone really believe they're not going to be charging the condo seller for the Elite visa, driving up the cost of the condo in the first place?

 

The condos one can buy will only be from an approved list, built by cronies of the govt., prices will already be ridiculously jacked-up way beyond the cost of a visa.

[Airalee]

1 hour ago, kiwikeith said:

My thoughts exactly. 

On the other hand rental prices are still up and properties are still priced high. 

I rent a property in Hua Hin and the landlady is lucky I still rent it as I'm stuck here in NZ. 

There must be some bargains around though, but I am not able to shop at present but hopefully I'll be able to get back early next year. 

There are some good rental deals (30% off) but the only place I see them listed are on the various Facebook buy/sell/rent groups (I am a member of Chiang Mai, Bangkok, 2 in HuaHin and 1in Phuket).  I don’t see the same discounts on the real estate websites because if there are any, they are buried within the overabundance of pie in the sky listings.  
 

The discounts offered on condos for sale are usually for the low floor/obstructed view/ etc condos.  Some of the discounts as of late end up being a wash (if bringing money in from abroad) with the strengthening of the baht over the last couple of years.

[hotchilli]

22 hours ago, webfact said:

The project under the "Flexible one Program"

Would that be bending over backwards to enter?

[tinca tinca]

22 hours ago, RotBenz8888 said:

Exactly in fact, if they manage to fool even one, I'd be surprised. 

and they keep building and building 

 

complete idiots here

[newnative]

13 hours ago, Oldie said:

I'm slowly getting the feeling they're only interested in our money... You should spend 10 million Baht for a condo without having the guarantee to be able to use it longer than 5 years. Visa regulations can change at any time and you don't have a right to stay here. But there might be other problems too. 

 

I regret already that I bought a big condo here in Pattaya. Due to extreme bar noise and this for years I will move out pretty soon. I have enough. The local government and the police didn't change anything. The condo can't be used anymore. A total loss and sadly I will have to continue to pay the condo fees of several thousands of Baht every month for nothing. No idiot will buy this noisy condo. So the people should be careful in respect of changing visa regulations and other possible problems. Otherwise this 5 year visa can get very expensive. 

     A 'total loss'?  I doubt it.  My sister is a real estate agent and she always says there is a buyer out there for every property.  I agree.   You may not like the noise but there are some who want to be where the noisy action is.  Your condo found you as a buyer so it must have some attractive features that got you to purchase it--no reason another buyer can't also be found.  You say it's 'big' so that's a very good feature right there with so many new condos being built so small.

     Make sure it looks good inside, fix anything broken,  declutter it and remove all personal items, take great photos, price it very attractively, and list it with as many agencies as you can, starting with the biggest.  It may take some time in this market but you say you're going to continue to pay the condo fees anyway so why not list it for sale and see what happens.  Good luck.  

[Oldie]

3 minutes ago, newnative said:

     A 'total loss'?  I doubt it.  My sister is a real estate agent and she always says there is a buyer out there for every property.  I agree.   You may not like the noise but there are some who want to be where the noisy action is.  Your condo found you as a buyer so it must have some attractive features that got you to purchase it--no reason another buyer can't also be found. 

When I bought it this area was completely quiet. Now you often have to shout if you want to talk to people inside in the evening. And then the extreme bass all the time. You get crazy after a while. It is like sitting in a noisy bar every evening until it closes. Perhaps I can make shorttime rooms out of it...

[ThailandRyan]

7 minutes ago, Oldie said:

When I bought it this area was completely quiet. Now you often have to shout if you want to talk to people inside in the evening. And then the extreme bass all the time. You get crazy after a while. It is like sitting in a noisy bar every evening until it closes. Perhaps I can make shorttime rooms out of it...

New name for your Condo "The Oldie Brothel", Tag line "Come feel young again when you enjoy your time at the Oldie Brothel" free water included with each short time reservation, call now at 1-800-OLDIES

[newnative]

13 minutes ago, Oldie said:

When I bought it this area was completely quiet. Now you often have to shout if you want to talk to people inside in the evening. And then the extreme bass all the time. You get crazy after a while. It is like sitting in a noisy bar every evening until it closes. Perhaps I can make shorttime rooms out of it...

     Or, a buyer might purchase it as an investment and use it for short-term rentals--it's big and that already sets it apart from smaller condos.  The main takeaway is there is likely a buyer for your property provided it is priced realistically.  Since you are thinking it is a total loss I assume you can price it very attractively.  Patience is important.  We have had condos sell quickly and we have had condos take a year or more to sell.  But, they all eventually sold--and we were always waiting to make a profit.  

[skorp13]

It's not about money at all is it?

[nausea]

7 hours ago, newnative said:

     A 'total loss'?  I doubt it.  My sister is a real estate agent and she always says there is a buyer out there for every property.  I agree.   You may not like the noise but there are some who want to be where the noisy action is.

Your sister is very wise. For example, I'm a bit deaf, so noise isn't so much of a problem; in fact, being in a noisy area would be a bit of an advantage, as I like to turn my TV up full volume, so I'd fit right in. Not to mention that I'm very attracted by the bright lights atmosphere. Unfortunately, I'm not in the market for a condo at the moment, but if I was I'd be interested if it was priced competitively. Of course, I'm talking as a place to live, not as an investment, as I guess the resale value would be pretty <deleted>, not too many people like me around.

[sitanonchai]

Can't see why I would buy a condominium in Thailand with all the visa hassles. 

There are better options in Asia like Malaysia, Cambodia or even Vietnam.

[David Garden]

Two years ago my relative purchase a house 100K US$ in Mexico, they received permanent residency automatically without any headache and additional costs.... sounds better deal isn it ?

 

Easy to verify for the ones who are doubtful .

 

Unfortunately there is nobody able to understand this in Thailand...  and people keep talking and talking and hoping....

[Lacessit]

On 12/8/2020 at 5:32 PM, ThailandRyan said:

Oh the horrors, oh the shock, oh the dismay. Que the politicians jumping out of the windows to save face instead of doing it the Japanese way of Harikari. For those who must know Harikari is the ritual suicide by disembowelment with a sword, formerly practiced in Japan by samurai as an honorable alternative to disgrace or execution, perfect for those in power.

The correct term is seppuku, harikari is a vulgar term meaning belly-cutting. The practice is performed by cutting the abdomen with a dagger vertically and horizontally, a sword only comes into use to behead the person performing seppuku, to end their suffering quickly. Samurai and lords who refused to avail themselves of the sword were deemed the most noble.

[ThailandRyan]

8 minutes ago, Lacessit said:

The correct term is seppuku, harikari is a vulgar term meaning belly-cutting. The practice is performed by cutting the abdomen with a dagger vertically and horizontally, a sword only comes into use to behead the person performing seppuku, to end their suffering quickly. Samurai and lords who refused to avail themselves of the sword were deemed the most noble.

You call it what you want. From Merriam Webster, Definitions of:

 

hari-kari noun

1: ritual suicide by disembowelment practiced by the Japanese samurai or formerly decreed by a court in lieu of the death penalty

2: SUICIDE sense 1b

 

Definition of Seppuku

: HARA-KIRI :  Mishima went back into the building, knelt on the floor and disemboweled himself with a samurai dagger in the ancient rite of seppuku.—

 

Seppuku remains a favorite theme in dramas and movies but has virtually disappeared from real life.

Edited December 9, 2020 by ThailandRyan

[Lacessit]

3 hours ago, nausea said:

Your sister is very wise. For example, I'm a bit deaf, so noise isn't so much of a problem; in fact, being in a noisy area would be a bit of an advantage, as I like to turn my TV up full volume, so I'd fit right in. Not to mention that I'm very attracted by the bright lights atmosphere. Unfortunately, I'm not in the market for a condo at the moment, but if I was I'd be interested if it was priced competitively. Of course, I'm talking as a place to live, not as an investment, as I guess the resale value would be pretty <deleted>, not too many people like me around.

Given some posts you have made on another topic, not difficult to understand.

 

3 minutes ago, ThailandRyan said:

You call it what you want.

hari-kari noun

1: ritual suicide by disembowelment practiced by the Japanese samurai or formerly decreed by a court in lieu of the death penalty

2: SUICIDE sense 1b

https://en.wikipedia.org/wiki/Seppuku

[Lacessit]

My former landlord in Chiang Mai has been trying to sell 3 condos there for years, price 1.6 million baht. If he can't sell at that price, what chance 10 million?

[ThailandRyan]

3 minutes ago, Lacessit said:

Given some posts you have made on another topic, not difficult to understand.

 

https://en.wikipedia.org/wiki/Seppuku

As I said in my previous response, and here is an excerpt from Wikpedia which is not a dictionary.

The term seppuku is derived from the two Sino-Japanese roots setsu 切 ("to cut", from Middle Chinese tset; compare Mandarin qiè and Cantonese chit) and fuku 腹 ("belly", from MC pjuwk; compare Mandarin fù and Cantonese fūk).

It is also known as harakiri 

[Lacessit]

Just now, ThailandRyan said:

As I said in my previous response, and here is an excerpt from Wikpedia which is not a dictionary.

The term seppuku is derived from the two Sino-Japanese roots setsu 切 ("to cut", from Middle Chinese tset; compare Mandarin qiè and Cantonese chit) and fuku 腹 ("belly", from MC pjuwk; compare Mandarin fù and Cantonese fūk).

It is also known as harakiri 

Perhaps you did not read harakiri is a spoken term, whereas seppuku is the written one.

[ThailandRyan]

11 minutes ago, Lacessit said:

Perhaps you did not read harakiri is a spoken term, whereas seppuku is the written one.

Apparently, you and I understand the way we see it as the way we see it. It is a matter of semantics and we will just have to agree to disagree.  Have a good night Lacessit.

[Lacessit]

5 hours ago, ThailandRyan said:

Apparently, you and I understand the way we see it as the way we see it. It is a matter of semantics and we will just have to agree to disagree.  Have a good night Lacessit.

Good morning, agreeing to disagree is fine by me provided it is done politely. As you have.

[Fex Bluse]

19 hours ago, newnative said:

     Or, a buyer might purchase it as an investment and use it for short-term rentals--it's big and that already sets it apart from smaller condos.  The main takeaway is there is likely a buyer for your property provided it is priced realistically.  Since you are thinking it is a total loss I assume you can price it very attractively.  Patience is important.  We have had condos sell quickly and we have had condos take a year or more to sell.  But, they all eventually sold--and we were always waiting to make a profit.  

Or, tens of thousands of Chinese buyers will buy as a means to launder money out of China. That's the big play here and probably who the Thais are targeting. 

[peter zwart]

I wonder if i live the day that these powerbrains come up with something that is logical and will work. I am 52. What do you guys think? Please place your bet.

[newnative]

2 hours ago, Fex Bluse said:

Or, tens of thousands of Chinese buyers will buy as a means to launder money out of China. That's the big play here and probably who the Thais are targeting. 

    Lots of posters on TVF are always asserting (wrongly) that all the tourist money from Chinese tourists goes right back to China with no benefit to the Thai economy.  Here's some money definitely coming in and helping the economy with a Chinese condo buyer--or one from any other country.   I've sold 5 condos to Chinese buyers and my only concern was that the checks cleared, not where or how the money was earned.  Same with my 3 or 4 condo sales to Russian buyers, the 3 to Thai buyers, the one to a Singaporean, the one to an American, the 3 to Swiss, 2 to Swedes, etc., etc.