Prices of Villas on the Koh Phangan

[DDBKK]

Interested to know from those in the know if prices have been affected by covid and where the market currently is at regarding 2/3 bedroom pool villas on the island?

[Peterw42]

Th only information possibly available would be asking price, and asking price means nothing. There is no published or available data on actual sales prices, sales volume etc.

There is basically nobody " in the know " and no data. 

Any information you come across will be marketing hype and mean nothing.

Most prices are asking price to buy a lease, not tangible real property sales, 

 

Koh Phangan is renown for dubious lease hold , Thai nominee ownership schemes, and lots of smoke and mirrors to do with legality, prices or actual real value.

[DDBKK]

5 minutes ago, Peterw42 said:

Th only information possibly available would be asking price, and asking price means nothing. There is no published or available data on actual sales prices, sales volume etc.

There is basically nobody " in the know " and no data. 

Any information you come across will be marketing hype and mean nothing.

Most prices are asking price to buy a lease, not tangible real property sales, 

 

Koh Phangan is renown for dubious lease hold , Thai nominee ownership schemes, and lots of smoke and mirrors to do with legality, prices or actual real value.

You sound like my wife! 5555

 

Thanks for confirming though

[thanaka]

I've heard the same. Very dubious. Samui or Phuket would probably be better suited. Cheaper as well.

[crazykopite]

11 hours ago, Peterw42 said:

Th only information possibly available would be asking price, and asking price means nothing. There is no published or available data on actual sales prices, sales volume etc.

There is basically nobody " in the know " and no data. 

Any information you come across will be marketing hype and mean nothing.

Most prices are asking price to buy a lease, not tangible real property sales, 

 

Koh Phangan is renown for dubious lease hold , Thai nominee ownership schemes, and lots of smoke and mirrors to do with legality, prices or actual real value.

Peter do you actually own a property or is it just BS that you pick up from hear say and what is a dubious leasehold any property that is leased for more than 3 years has to go through the land office officially and I would imagine those who have taken out a 30 + 3O lease I would imagine would have used a reputable lawyer .

[Taco]

Pool villa 2 to 3 bedroom can be had now for 50-70,000 a month plus utilities. Up about 5-10,000 in last month. This is abound half price per covid.  Samui much cheaper. More supply less demand.

[Peterw42]

25 minutes ago, crazykopite said:

Peter do you actually own a property or is it just BS that you pick up from hear say and what is a dubious leasehold any property that is leased for more than 3 years has to go through the land office officially and I would imagine those who have taken out a 30 + 3O lease I would imagine would have used a reputable lawyer .

 

Yes I do own a property, I don't rent one and tell everyone I own it.

A dubious leasehold is one that is presented as ownership (the properties are advertised as for sale, not for rent), The properties have a huge upfront payment equivalent to buying a property. The leases often make the tenant responsible for all ongoing repairs and maintenance, the lease cant be on sold etc. Its not unheard of where the lease is a sublet from an existing leaseholder with a usufruct.

The maximum lease is 30 years, and yes, a 30 year lease is registered on the chanote. I imagine people would use a lawyer to enter into a 30 year lease.

 

Goole "Koh Phangan property scam" and you can find several articles about past scams

[ExpatOilWorker]

45 minutes ago, Peterw42 said:

 

Yes I do own a property, I don't rent one and tell everyone I own it.

A dubious leasehold is one that is presented as ownership (the properties are advertised as for sale, not for rent), The properties have a huge upfront payment equivalent to buying a property. The leases often make the tenant responsible for all ongoing repairs and maintenance, the lease cant be on sold etc. Its not unheard of where the lease is a sublet from an existing leaseholder with a usufruct.

The maximum lease is 30 years, and yes, a 30 year lease is registered on the chanote. I imagine people would use a lawyer to enter into a 30 year lease.

 

Goole "Koh Phangan property scam" and you can find several articles about past scams

Tricky...

 

The due diligence examination in Koh Phangan typically does not take into consideration that local title deeds (Chanote) are frequently wrong, and the acquisition of fake-Chanotes does not provide the buyer with legal ownership, but just a worthless sheet of paper. More than half the island is designated as national park and the mountainous interior is generally inaccessible – although the faked land title deed will show something different.

The second source of errors is the wrong assumption that a previous land transfer is valid if it is registered on the title deed. No one guarantees this, neither the seller nor the land office nor any other authorities. Therefore, the investor requires more than a title report which is just a simple translation of the Thai documents.

 

https://pugnatorius.com/koh-phangan/