parafareno Posted July 25, 2022 Share Posted July 25, 2022 i was thinking of buying a condo, then I am thinking well what if i will not like it...what if some neighbour will annoy me....etc.... how are you investing ? I know I mde mistakes in the past not buying condos because the prices rose so much past few years but still I am afraid 1 1 Link to comment Share on other sites More sharing options...
Popular Post 4MyEgo Posted July 25, 2022 Popular Post Share Posted July 25, 2022 16 minutes ago, parafareno said: i was thinking of buying a condo, then I am thinking well what if i will not like it...what if some neighbour will annoy me....etc.... how are you investing ? I know I mde mistakes in the past not buying condos because the prices rose so much past few years but still I am afraid If your buying here, best to rent IMO. Seek out other investment tools to earn you money which will pay for your rent and provide your with an income. 3 Link to comment Share on other sites More sharing options...
Popular Post jacko45k Posted July 25, 2022 Popular Post Share Posted July 25, 2022 (edited) I think the market is going to do well in the next few years. It is like Pattaya is coming out of the doldrums....and the developing EEC should support this. Lots of interest in houses too judging by viewings around my area. Apparently many from Bangkok buyers too. OP... you can only do research and avoid properties allowing short term rentals. Edited July 25, 2022 by jacko45k 1 2 Link to comment Share on other sites More sharing options...
Popular Post BritManToo Posted July 25, 2022 Popular Post Share Posted July 25, 2022 39 minutes ago, parafareno said: i was thinking of buying a condo, then I am thinking well what if i will not like it...what if some neighbour will annoy me....etc.... how are you investing ? I know I mde mistakes in the past not buying condos because the prices rose so much past few years but still I am afraid Depends on your age. If you're 60+, probably not much point in buying anything. Then you need to think carefully about buying a home in a county where you have no right to reside. 1 2 Link to comment Share on other sites More sharing options...
Popular Post ezzra Posted July 25, 2022 Popular Post Share Posted July 25, 2022 (edited) 6 minutes ago, BritManToo said: Depends on your age. If you're 60+, probably not much point in buying anything. Then you need to think carefully about buying a home in a county where you have no right to reside. You do have the rights to reside in this country providing its all done correctly, you can own a condo outright with a foreigner's quota and you can own a house by forming a Thai company, all legal, and Pattaya and other sea front places are good investment as many Indian and Chinese are relocating to Thailand now, find the right property, preferably with sea view at the right price and it will be a sound investment... Edited July 25, 2022 by ezzra 1 4 Link to comment Share on other sites More sharing options...
parafareno Posted July 26, 2022 Author Share Posted July 26, 2022 is it even possible to rent a condo near the beach to somebody because tehre are so many condos everywhere? I am targeting 50 sq meter condo so you are not like a fish in a bowl with that small space....50-60 sq m is the sweet point from my experience 1 Link to comment Share on other sites More sharing options...
Popular Post bkk6060 Posted July 26, 2022 Popular Post Share Posted July 26, 2022 (edited) I agree I do think India and especially Chinese will be buying here much more in the future. But, I would not buy a place with ïnvestment¨ in mind I would buy it as a place you choose to live. If you are buying just for rental property good luck. Preferably, if near water find a place with some ocean view. Edited July 26, 2022 by bkk6060 3 Link to comment Share on other sites More sharing options...
Onerak Posted July 26, 2022 Share Posted July 26, 2022 24 minutes ago, ezzra said: preferably with sea view at the right price and it will be a sound investment... Investment is such an animal. One has to always find the right product at a right price. My philosophy is not to invest in Thailand even if you buy a property for residence only. If possible, get the loan from your home country at cheaper rate. Don't think about the property as an investment. Thailand houses/condos are not as liquid as American real property. You can't even get a loan using your property. If it's just for residence and you want to avoid the hassle of moving, go for it. Link to comment Share on other sites More sharing options...
Popular Post parafareno Posted July 26, 2022 Author Popular Post Share Posted July 26, 2022 (edited) better yet where can you build a house with pool for under 2 million in Thailand? I would prefer safety and some land and away from neighbours more or less, neqr the beach also....but there needs to be like a mall 20 minutes drive or something Edited July 26, 2022 by parafareno 3 Link to comment Share on other sites More sharing options...
KhunLA Posted July 26, 2022 Share Posted July 26, 2022 2 minutes ago, parafareno said: better yet where can you build a house with pool for under 2 million in Thailand? I would prefer safety and some land and away from neighbours more or less Pretty much anywhere outside a metro area. Size matters of course. Although, if you have to ask, then you probably can't. 1 Link to comment Share on other sites More sharing options...
Popular Post grain Posted July 26, 2022 Popular Post Share Posted July 26, 2022 i was thinking of buying a condo, then I am thinking well what if i will not like it...what if some neighbour will annoy me....etc.... That's it. One day your life can be sweet, you're living the dream, next day you're in a nightmare. I think about some of the condos I lived in - fortunately never bought, just rented them - I've had neighbors with electric guitars and amps. Had a couple with drum kits. Had Thais using their condos for commercial purposes, like storerooms, dragging crates across the floor at all hours of day & night. Also I hear about people (foreigners) making profits on the investments, but I know more who were desperately trying to sell their properties and looking at serious losses. 5 Link to comment Share on other sites More sharing options...
Wall99 Posted July 26, 2022 Share Posted July 26, 2022 If you wanna buy a condo, I have an IDEO one to sell. I bought it off plan, so cheap. The price has risen by 400,000. I paid all the deposit but don't have the cash to buy it. So I am selling for 2.09 MB. It can be seen on YouTube at IDEO Ch Riverview 70 1 Link to comment Share on other sites More sharing options...
parafareno Posted July 26, 2022 Author Share Posted July 26, 2022 18 minutes ago, Wall99 said: If you wanna buy a condo, I have an IDEO one to sell. I bought it off plan, so cheap. The price has risen by 400,000. I paid all the deposit but don't have the cash to buy it. So I am selling for 2.09 MB. It can be seen on YouTube at IDEO Ch Riverview 70 probably a tiny tiny little condo where you cant stretch the middle guy 1 Link to comment Share on other sites More sharing options...
Rmac442 Posted July 26, 2022 Share Posted July 26, 2022 Condo .. never. Many prison cell without bars. Location ... Avoid tourist location because they'll drive u crazy .. Noise .. check neighbours and traffic ..untimate, dogs locked up and going crazy. They're everywhere ... Lifts ... implication if not working Stairs .. you're getting older Electric ... Check if standard unit costs Orientation ... Will u 'fry' during the day !! 2 1 Link to comment Share on other sites More sharing options...
Captain Monday Posted July 26, 2022 Share Posted July 26, 2022 Don't buy a condo as an investment. Everyone needs a place to live buy one if you enjoy playing owner and fixing it up as I did, go ahead. Be warned used condos have appreciated but can be very hard to sell. Don't invest more than than you can afford to walk away from. There is almost always a way to stay in Thailand if well funded but what happens when the eventual regional war or intl crisis emerges? They have proved even PR can be locked out for months, for a virus. What is your back up plan? 2 Link to comment Share on other sites More sharing options...
Excel Posted July 26, 2022 Share Posted July 26, 2022 Well of course there are two sorts of investors. Those that are greed driven ( suspect that is over 90% ) , and those that want safety and anonymity perhaps. The former accounts for stock market investors, Ponzi/crypto schemes and other such vehicles for giving you the rush that what you have today may be 10% more next year. Of course until it crashes/fraudsters do a runner etc etc in which case what you have today may be well worth next to nothing tomorrow. But that's greed for you. Live by the sword ,die by the sword. The exception to that is property, but not in Thailand. Land purchase is fine because it will always appreciate, as they are not making any more of it, but of course that is for Thais only which is why I gave my wife the money to buy a significant area many years ago. Now for the latter for those that want safety and anonymity, it has to be gold and diamonds. Gold does fluctuate but general it is a safe commodity easy to trade in Thailand. I invested in diamonds many years ago for two reasons as they are easily transportable should one have to move quickly due to political upheaval, natural disasters etc etc. Again easily tradable at diamond merchants worldwide, It does increase year on year, but only marginally, and best of all, they are undetectable by 99% of airport scanners ( so long as they are still loose diamonds in your hand baggage as the latest body scanners may if carried on your body) . Of course both of those investment options can be handed down to your kids later for their benefit and unlike the rest of the examples there is no documentary hassles hence the anonymity. 2 Link to comment Share on other sites More sharing options...
The Hammer2021 Posted July 26, 2022 Share Posted July 26, 2022 (edited) I remember 15% interest in 76 in Britain. It was great for people with savings. The banks were paying 15%. Basically savers have been punished since about 2002. High Bank interest rates? Bring them on! Investing in these times? A decent P2P bank or a property based P2P / fund like Property Partner. The most reliable P2P I'm in is Funding Circle- 6% net annually for the last 9 years. But my best investments have been property. But I bought with cash not mortgage. Edited July 26, 2022 by The Hammer2021 Link to comment Share on other sites More sharing options...
Popular Post newnative Posted July 26, 2022 Popular Post Share Posted July 26, 2022 34 minutes ago, ezzra said: You do have the rights to reside in this country providing its all done correctly, you can own a condo outright with a foreigner's quota and you can own a house by forming a Thai company, all legal, and Pattaya and other sea front places are good investment as many Indian and Chinese are relocating to Thailand now, find the right property, preferably with sea view at the right price and it will be a sound investment... Agree. This year my partner and I have sold two properties, one a house next to Lake Mabprachan and, last week, a seaview condo on Beach Road in north Pattaya. Both were sold at a profit and might serve as examples of what can work in regard to buying property in Pattaya. The house sold very quickly; the condo took over a year to find the right buyer. Sometimes patience is needed. You can make money in real estate here but it does take some work. The formula isn't rocket science--buy low, sell higher. While the formula is simple, the difficult part is choosing what to try to buy low in the first place and what to avoid. If you look at our two property sales, both were in excellent locations. Lake Mabprachan has become a super-desirable area on the Darkside. Good, gated projects right next to the lake are very limited. The house we bought was in one of these few good projects. The house itself had been vacant for many years and was in poor shape. One of the first houses in the project, it looked so bad we think it was bringing down the values of the other homes. But, it had one of the best and biggest lots in the project and we liked the house layout and placement on the lot. The potential was there. We got it at a good price but it was a financial gamble because we didn't know what we would find when we 'looked under hood'. There were extensive porch and roof repairs, doors and windows, electrical, bath work, and a new kitchen was needed, among other things. We doubled the size of the pool--the big lot helped with that. The one-car carport was small and difficult to negotiate so we re-purposed it for ping pong and built a new 2-car garage--again, the lot had the space to do that. New drapes, wallpaper, lighting, furniture, and a lot of custom work inside. Sold in a couple of months and there were at least two showings each week. Interestingly, we had Chinese buyers--some viewing through video calls, other foreign buyers, and a number of Thai buyers--a fairly wide mix. The buyer was Thai. The condo took longer because it went on the market with covid raging and some buyers--including us--were shifting to houses. Also not helpful--it was not in foreign quota. We broke our rule about always buying in foreign quota because the project was in a prime location and we got the condo--with a very nice seaview--at a good price. Foreign quota was full but we thought it was a good investment so we bought anyway. Early on with the sale we got a low-ball offer--we would have broken even--but we rejected it as we weren't in a hurry to sell as we were still renovating the house. Like Mabprachan, the north Pattaya Beach location has become very desirable. But, the number of seaview condo projects are few. (We always buy seaview.) And, nice projects even fewer. Compare that to the number of projects in Jomtien, Pratamnak, and Cosy Beach. We renovated the condo and made it one of the nicest ones in the project and it eventually found a buyer. One last example, our project before these two. This was a large 3 bedroom/3 bath beachfront condo in Wong Amat. The condo was owned by a Bangkok company that was no longer using it much. It was quite rundown and we got it at a good price. Renovated everything. Large, nice 3 bedroom/3 bath beachfront condos are few and far between in Pattaya and we easily found a buyer. It's often said on TV/AN that there are thousands and thousands of unsold condos in Pattaya. That doesn't faze us. There may be thousands of condos up for sale but not, for example, thousands of nice, beachfront 3 bedroom/3 bath condos in Wong Amat. If we've managed to buy well in the first place, we're usually only competing with a handful of condos, not thousands. And, we just need one buyer each time, not thousands. With some experience now, as property shoppers we put three things, among others, foremost--price, location, and supply/demand. 3 Link to comment Share on other sites More sharing options...
warrima Posted July 26, 2022 Share Posted July 26, 2022 4 hours ago, Wall99 said: The price has risen by 400,000. According to Hipflat the price has dropped 23% since launch on that development. 26 m2 shoeboxes. 1 Link to comment Share on other sites More sharing options...
sitanonchai Posted July 26, 2022 Share Posted July 26, 2022 One rule to bear in mind, never invest or buy property in Thailand. Stick to that rule and you'll be fine. 2 Link to comment Share on other sites More sharing options...
Popular Post KhunLA Posted July 26, 2022 Popular Post Share Posted July 26, 2022 21 minutes ago, sitanonchai said: One rule to bear in mind, never invest or buy property in Thailand. Stick to that rule and you'll be fine. Glad I didn't follow that advice, or I would have spent 2.5 million baht over the years in rent, and that's being conservative, instead of make 2.5 million baht and living here rent free for 22 years. Although, if never invested in RE before, TH might not be the place to try your luck. 3 Link to comment Share on other sites More sharing options...
Excel Posted July 26, 2022 Share Posted July 26, 2022 4 hours ago, warrima said: According to Hipflat the price has dropped 23% since launch on that development. 26 m2 shoeboxes. My ensuite bathroom is bigger than that, do people actually live in something that tiny ? Link to comment Share on other sites More sharing options...
Sparktrader Posted July 26, 2022 Share Posted July 26, 2022 Units cost money Shares dont Why buy a unit? Link to comment Share on other sites More sharing options...
RanongCat Posted July 26, 2022 Share Posted July 26, 2022 8 minutes ago, Sparktrader said: Units cost money Shares dont Why buy a unit? Where I can get free shares? I want ! 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted July 26, 2022 Share Posted July 26, 2022 6 minutes ago, RanongCat said: Where I can get free shares? I want ! Ongoing costs Link to comment Share on other sites More sharing options...
RanongCat Posted July 26, 2022 Share Posted July 26, 2022 1 minute ago, Sparktrader said: Ongoing costs Same like a wife? Link to comment Share on other sites More sharing options...
KIngsofisaan Posted July 26, 2022 Share Posted July 26, 2022 6 hours ago, 1FinickyOne said: I thought that was called a "bubble" Not a bubble, population of Florida is growing by leaps and bounds. You should read the news more and understand why. 1 Link to comment Share on other sites More sharing options...
chalawaan Posted July 26, 2022 Share Posted July 26, 2022 Watch Peter Lynch 1992 speech. It's timeless advice. Don't worry be rich and happy. Link to comment Share on other sites More sharing options...
Sparktrader Posted July 26, 2022 Share Posted July 26, 2022 9 hours ago, KhunLA said: Glad I didn't follow that advice, or I would have spent 2.5 million baht over the years in rent, and that's being conservative, instead of make 2.5 million baht and living here rent free for 22 years. Although, if never invested in RE before, TH might not be the place to try your luck. 5m divided by 22 is 200,000 baht a year That money could have been invested in sgares Link to comment Share on other sites More sharing options...
BigStar Posted July 26, 2022 Share Posted July 26, 2022 40 minutes ago, Captain Monday said: So, how many of these "better farang owners" end up abandoning condos? Who knows (not you) or cares? In my experience, in a large building, none. Little self-serving anecdotes prove nothing. One owner supposedly "bolted," but we'd need a legal deposition to know the exact reason, which may have been some trivial snowflake reason. Maybe needed to go get extra photocopies for Immigration. Some of our members find that request just absolutely devastating. Or, maybe he didn't "bolt" at all but simply left for the free healthcare in Blighty or somesuch practical reason. Living in Thailand permanently does take due diligence. Some helpless farang fail to do that, having no agent who might have held their hands and done it for them--as one might expect in this population. Owners in my building often rent out their units when they're away for extended periods, as they often are, using their condo for vacations. Great thing about resorts. OP, buy a unit with a sea view in a resort.???? Only busy during high season. Yeah, more "bolting" would make for a quieter building. It's good that everyone has the freedom to rant and "bolt" whenever they choose. Our posters have a typical response to the departure announcement, too. If that leaves the unit(s) to be seized and sold by the JP and the proceeds used for building maintenance, then all to the good. Now the supposed "multi-millionaire" wasn't an owner, and for all the supposed wealth and free rent couldn't afford the trivial expense of a long-term visa and instead put himself to a lot of bother. So he was basically, and rightly, kicked out by Immigration, assuming you didn't make it all up. (Yeah, we do that here.) Good on 'em. Irrelevant example. 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now