Thailand’s real estate sector eyes foreign investment boost

[snoop1130]

 

With an eye on boosting the economy, real estate developers and consultants are urging Thailand‘s new government to implement policies that promote foreign investment. They believe such measures will stimulate a more positive environment for overseas buyers in the property market, suggesting promotional efforts to increase awareness among foreign investors.

 

Artitaya Kasemlawan, head of residential sales projects at CBRE Thailand, said…

 

“The attractiveness of Thailand as a destination for foreign buyers is unquestionable.”

 

The 42 year old says she is confident that if there is “confidence in both the global economy and foreign buyers’ economies, along with the presence of attractive measures,” purchasers are more likely to invest in Thai properties.

 

Artitaya’s assertion comes in light of numerous newly-launched luxury condominiums in Bangkok’s central business district offering leasehold tenures of up to 58-59 years. In her view, extending the leasehold period for low-rise houses to 60 years could potentially spike interest among foreign investors, many of whom make such purchases for personal use.

 

By Alex Morgan

Caption: Picture courtesy of Leohoho, Unsplash

 

Full Story: https://thethaiger.com/news/business/thailands-real-estate-sector-eyes-foreign-investment-boost

 

-- © Copyright Thaiger 2023-06-26

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

[hotchilli]

11 hours ago, snoop1130 said:

With an eye on boosting the economy, real estate developers and consultants are urging Thailand‘s new government to implement policies that promote foreign investment

Some things never change... 

We want your money but we don't want you..

Today for the twentieth time I'm going to immigration with a mountain of paperwork to extend my annual visa.

Make it easier for us to reside here and maybe the property sales will follow suit.

As a guest I'll continue to rent.

[zzaa09]

What's the deal with this overt consciousness and obsession regarding foreign investment?

Lines the pockets of selected mafia circles and has little or nothing to do with the real economic condition. 

[flyingtlger]

13 hours ago, snoop1130 said:

They believe such measures will stimulate a more positive environment for overseas buyers in the property market

What a joke. The rich get richer and poor get poorer. There are way too many vacant condo's as it is.  Condo's are getting way too expensive for the average joe to purchase one.

[jcmj]

Still way too many obstacles for most people who want to buy a property and live here.  Property taxes can an have changed recently.  Immigration hassles and laws, or requirements can change at any time. Everything can a will change depending on the government and their thoughts about foreigners coming to, and investing in Thailand. 

[Polaky]

If they allowed you to buy land then they would see a surge in investment, I for one would buy a villa under my sole name, and would never consider buying a condo.

[ozz1]

Unfortunately its Thai logic spend your money then go back to where you came from  it would be foolish to buy too much property here and they can change the rules in a instant

[h90]

4 hours ago, hotchilli said:

Some things never change... 

We want your money but we don't want you..

Today for the twentieth time I'm going to immigration with a mountain of paperwork to extend my annual visa.

Make it easier for us to reside here and maybe the property sales will follow suit.

As a guest I'll continue to rent.

yes every year the same dance with the same documents....nothing has changed....

If they just ask: Any changes....50.000 Baht fee. It would be cheaper for me and Thailand would have a big profit.

Or just make it a 2 year visa and a 180 day reporting...still only half the work

[h90]

1 hour ago, jcmj said:

Still way too many obstacles for most people who want to buy a property and live here.  Property taxes can an have changed recently.  Immigration hassles and laws, or requirements can change at any time. Everything can a will change depending on the government and their thoughts about foreigners coming to, and investing in Thailand. 

From my experience "will change independing on the government" It got worse with Thaksin and continued the same as if T would be still in power....no matter what government.

[Jackbenimble]

1 hour ago, Polaky said:

If they allowed you to buy land then they would see a surge in investment, I for one would buy a villa under my sole name, and would never consider buying a condo.

if they allowed you to buy land a) the price of land would shoot up b) there would be no land left foryour average Thai to buy and Thais would be priced out of their own property market c) some foreigners too would eventually be priced out of the market

3 very good reasons for not allowing foreigners to buy land. 

Disposable incomes of your average Thai is small - too small to sustain a property boom.

Land should be available to foreigners to buy but only under certain criteria i.e resident for over 5 years - but not carte blanche.

Edited June 27, 2023 by Jackbenimble

[ezzra]

5 hours ago, hotchilli said:

Some things never change... 

We want your money but we don't want you..

Today for the twentieth time I'm going to immigration with a mountain of paperwork to extend my annual visa.

Make it easier for us to reside here and maybe the property sales will follow suit.

As a guest I'll continue to rent.

Not on your life, and no matter how much we invest, at best, in their eyes, we're a tolerated inconvenience foreigners in their country, sort of tourist who came but never left,  and as such it will stay for many years to come.

[cncltd1973]

don't they bring this up every couple years, and then the bureaucrats add so many rules and clauses that it goes nowhere

[RafPinto]

And they are building like crazy.
I walk 200 metres from my condo and there are 2 new hotels under construction, let alone the 100 s new condo buildings under construction.

 

With the interest rate rising and bank now being more selective to whom they give the money, I see much more empty building hitting the market.

[Goat]

7 hours ago, hotchilli said:

We want your money but we don't want you..

Today for the twentieth time I'm going to immigration with a mountain of paperwork to extend my annual visa.

Have you ever been rejected? If they didnt want you as you imagine they would have moved you on by now.

Paperwork is straight forward. Thousands of us do it.

[spidermike007]

What sacrifices are they willing to make to attract foreign investors?

 

Tax breaks?

Allow foreign ownership? Are they addressing critical issues, like the air and water quality, traffic safety, public transportation on the southern islands, rapid rail transport, and the lack of law enforcement? No. Nothing, and I mean less than zero is being done.

 

These guys continue to occupy a self entitled dreamworld. Their gazillionaire status insures a total detachment from reality, facts, truth and practical concerns. 

 

 

 

[hotchilli]

1 hour ago, Goat said:

Have you ever been rejected? If they didnt want you as you imagine they would have moved you on by now.

Paperwork is straight forward. Thousands of us do it.

Until the day you die in Thailand?

[hotchilli]

3 hours ago, h90 said:

Or just make it a 2 year visa and a 180 day reporting...still only half the work

That's the thing....

Money every year for the coffers and employment for thousands of immigration officers.

It will never change.

[Keep Right]

The problem with luxury condo's is that they quickly depreciate because the Thais do not maintain them. After twenty years they become slums.

[ThailandRyan]

2 minutes ago, Keep Right said:

The problem with luxury condo's is that they quickly depreciate because the Thais do not maintain them. After twenty years they become slums.

Not sure what your going on about.  My condo was built in 1995, upkeep is done regularly and the building looks as good as it did when I bought it many years ago.  It was why I bought it.  Close to Lumpini Park, and both the MRT and BTS.  No slums around us.

[h90]

1 hour ago, hotchilli said:

That's the thing....

Money every year for the coffers and employment for thousands of immigration officers.

It will never change.

Well the immigration fees are not much...I am happy to pay them or even much more...but the agent costs...And alone the curiosity that Work Permit and Visa needs basically the same documents, twice.....And all on paper...in the immi in BKK sometimes you see them transporting the papers....it is unreal...they get all born again as tree.....

[tomacht8]

I find many of the current standard 25-40sqm new build condos simply too expensive and unattractive. Glazed concrete shoeboxes, many without balconies, many with poor construction quality, many poorly soundproofed, people packed together like in chicken cages, meanwhile high monthly administration costs. In the lower price segment between 3-6 million baht you just don't get anything reasonable.

 

If you then look in the area around 100 square meters, prices of 15-50 million baht are announced, depending on the location. If you instead invest the money in dividend stocks or mutual funds, you can use the dividends to rent a nice beach villa or rent a nice suite in a 5 star hotel. You are also not permanently tied to the property and also without the risk of annoying neighbors who may rent their condo to fun travel groups via Airbnd.

50 millions for 100sqm near Nana.

No way.

[Goat]

1 hour ago, hotchilli said:

Until the day you die in Thailand?

That is the plan.

Unless i can find a better country to live. I have looked, couldnt find one.

So here i am until i dissapear up the temple chiney into the sky.

 

Nice people the Thais.

[newnative]

1 hour ago, Keep Right said:

The problem with luxury condo's is that they quickly depreciate because the Thais do not maintain them. After twenty years they become slums.

    What you describe has not been a problem, to my knowledge, with Pattaya luxury condo projects.  Royal Cliff Garden, built in 1997, is certainly being maintained and is not a 'slum'.  Ditto for Saranchol Condo, built way back in 1994.   Or, the even older Garden Cliff condo, built I think in the 1980s.  In addition to Saranchol and Garden Cliff, Wong Amat has several other older luxury condominiums that are also being well-maintained, including Park Beach, built in 1997, Silver Beach and Baan Rimpha, both built in 1990, and Sky Beach condo, built in 1992.   

    Somewhat newer Northshore condo, built in 2006 and just a few years from your 'slum' deadline, is also being well-maintained, as is the also somewhat newer Ocean Portofino.   More examples abound, including Jomtien Complex, Metro, Baan Haad U Thong, Golden Sands, Coconut Beach, and others.   I think you will find that the majority of the non-luxury condo projects in Pattaya, with a few exceptions, are also being maintained adequately and have not become what you describe as slums.  

[john donson]

4 hours ago, tomacht8 said:

I find many of the current standard 25-40sqm new build condos simply too expensive and unattractive. Glazed concrete shoeboxes, many without balconies, many with poor construction quality, many poorly soundproofed, people packed together like in chicken cages, meanwhile high monthly administration costs. In the lower price segment between 3-6 million baht you just don't get anything reasonable.

 

If you then look in the area around 100 square meters, prices of 15-50 million baht are announced, depending on the location. If you instead invest the money in dividend stocks or mutual funds, you can use the dividends to rent a nice beach villa or rent a nice suite in a 5 star hotel. You are also not permanently tied to the property and also without the risk of annoying neighbors who may rent their condo to fun travel groups via Airbnd.

50 millions for 100sqm near Nana.

No way.

 

 

please tell us which one's , I am dying to invest 5 - 10 million but everybody here or elsewhere is VAGUE at best... what stocks or funds...  tell us please

 

[tomacht8]

1 hour ago, john donson said:

 

 

please tell us which one's , I am dying to invest 5 - 10 million but everybody here or elsewhere is VAGUE at best... what stocks or funds...  tell us please

 

LOL

I'm not making any stock market buy recommendations here. You have to deal with it yourself and inform yourself about the risks and opportunities. If you are aiming for a 5% annual return for your 10 million baht, you should be able to generate 500,000 baht per year before capital gains tax.

[garyk]

14 hours ago, RafPinto said:

And they are building like crazy.
I walk 200 metres from my condo and there are 2 new hotels under construction, let alone the 100 s new condo buildings under construction.

 

With the interest rate rising and bank now being more selective to whom they give the money, I see much more empty building hitting the market.

It is a renters paradise. I blow into Thailand every so often and spend a few months. 

[hotchilli]

15 hours ago, Goat said:

That is the plan.

Unless i can find a better country to live. I have looked, couldnt find one.

So here i am until i dissapear up the temple chiney into the sky.

 

Nice people the Thais.

Agreed, like wise... stick it out for now and see what happens in the future.

As for the Thais they're great people, I live in a very non-tourist area and they have greeted me very well.

[hotchilli]

15 hours ago, h90 said:

And all on paper...in the immi in BKK sometimes you see them transporting the papers....it is unreal...they get all born again as tree.....

The circle of life....

[h90]

2 hours ago, hotchilli said:

The circle of life....

But if they put them all on storage it will remove significant carbon.....it must be many tons every year

[hotchilli]

1 minute ago, h90 said:

But if they put them all on storage it will remove significant carbon.....it must be many tons every year

Resembles my immigration office, I had the displeasure of going the last two days to do my annual marriage renewal... 30 days under consideration [after 20 years of being here] to await my home inspection which has been the same for the last 15 years.

Sheer lunacy.