Buying condo

[nzthai]

Is it cheaper to buy a condo in a Thai name the a foreign name?

[tonray]

3 minutes ago, nzthai said:

Is it cheaper to buy a condo in a Thai name the a foreign name?

same price..unless you have two names, one Thai and one Foreign...then double

[BobBKK]

13 minutes ago, nzthai said:

Is it cheaper to buy a condo in a Thai name the a foreign name?

 

Cheaper. Thai name you cannot sell to a farang (unless the foreign quota is below 49%). Farang quota is always more expensive as it can be sold to a larger group of potential buyers.

Edited March 1, 2021 by BobBKK

[nzthai]

5 minutes ago, BobBKK said:

 

Cheaper. Thai name you cannot sell to a farang (unless the foreign quota is below 49%). Farang quota is always more expensive as it can be sold to a larger group of potential buyers.

Thanks, so if I have thai wife I could probably buy a condo a little cheaper if it gives in her name in thai title?

[worgeordie]

All depends on your bargaining power, if you are good at it

you will get it cheaper, always better to buy it in your name,

your paying for it and things can change.

regards Worgeordie

[nzthai]

Just now, worgeordie said:

All depends on your bargaining power, if you are good at it

you will get it cheaper, always better to buy it in your name,

your paying for it and things can change.

regards Worgeordie

Yes, thanks, we have been married living in NZ for 12 years, just wanting to spend more than the usual 3 months per year up there, perhaps 6-8 months per year, any condo we buy up there would be a very small proportion of what property we own in NZ, sounds like it is worth looking into????????

[tomazbodner]

Price is same, no matter who buys, but depends on negotiations with seller, if buying resold/used unit, otherwise price is usually fixed if buying directly from developer.

What can happen, which is probably why OP is asking, is that there is 49% foreign quota, so when buying in popular spots for foreign buyers, that quota could already be full, with only Thai units available, and foreigners pumping the prices up in hope to make huge profit. Pattaya and parts of Bangkok CBD are examples of that.

 

So, it will depend on property. If you have one in mind, check the foreign ownership percentage with Juristic. If below 49% (including your unit - and it's in surface area, not in number of units) then you can buy any unit and put it in foreign name. If foreign quota is up, but Thai quota is available, you can put it in wife's name. You can't change that later without "selling it from one to the other" and paying all applicable taxes.

[HashBrownHarry]

15 minutes ago, nzthai said:

Thanks, so if I have thai wife I could probably buy a condo a little cheaper if it gives in her name in thai title?

yes.

[OneMoreFarang]

2 hours ago, nzthai said:

Is it cheaper to buy a condo in a Thai name the a foreign name?

Obviously it's a lot more expensive in a Thai name. Maybe that is not obvious right away but wait until she does not love you anymore. ???? 

[BobBKK]

1 hour ago, tomazbodner said:

Price is same, no matter who buys, but depends on negotiations with seller, if buying resold/used unit, otherwise price is usually fixed if buying directly from developer.

What can happen, which is probably why OP is asking, is that there is 49% foreign quota, so when buying in popular spots for foreign buyers, that quota could already be full, with only Thai units available, and foreigners pumping the prices up in hope to make huge profit. Pattaya and parts of Bangkok CBD are examples of that.

 

So, it will depend on property. If you have one in mind, check the foreign ownership percentage with Juristic. If below 49% (including your unit - and it's in surface area, not in number of units) then you can buy any unit and put it in foreign name. If foreign quota is up, but Thai quota is available, you can put it in wife's name. You can't change that later without "selling it from one to the other" and paying all applicable taxes.

When the 49% is full price is always more for a foreign quota condo - sometimes as much as 30%. If new and 49% not full obviously price is the same.

[ezzra]

Words tot he wise, always where possible, put expensive items on your name, just in case.. seen couples where all was lovey dovey and than BOOOOM nd the farang was left out of pocket big time...

[BobBKK]

1 hour ago, nzthai said:

Thanks, so if I have thai wife I could probably buy a condo a little cheaper if it gives in her name in thai title?

 Ok I have bought and sold 22 condos here so i have a little experience to share. To clarify:

If the 49% quota is not full the price will be the same. After 49% full price is bound to be more for a foreign unit as we are limited to 49% and market economics come into play. Farangs, normally, want a condo in their own name.

[OneMoreFarang]

11 minutes ago, BobBKK said:

 Ok I have bought and sold 22 condos here so i have a little experience to share. To clarify:

If the 49% quota is not full the price will be the same. After 49% full price is bound to be more for a foreign unit as we are limited to 49% and market economics come into play. Farangs, normally, want a condo in their own name.

Good to have someone with experience.

In your experience in how many condominiums is the 49% foreigner ownership fully used? 

[BobBKK]

1 minute ago, OneMoreFarang said:

Good to have someone with experience.

In your experience in how many condominiums is the 49% foreigner ownership fully used? 

Most of the popular ones?  Astra, Riverside, Mountain View, Skybreeze, Hillside etc. etc. as at pre-Covid. Maybe things have changed a bit now. In more run-down cheaper condos often there is quota left.

[nzthai]

Thanks for all that valuable info guys, cheers????

[BobBKK]

On 3/1/2021 at 8:12 AM, nzthai said:

Thanks, so if I have thai wife I could probably buy a condo a little cheaper if it gives in her name in thai title?

 

IF there is no farang quota left... it would have to be in a Thai name. IF there is farang quota left normally it is priced higher than if buying in Thai name as you can sell it on to foreigners.