Condo quotas

[scubascuba3]

In many condo blocks around Pattaya thousands of condos remain unsold because foreign quota is full. A quick win from the new government would be to reduce the 51% thai quota, maybe in specific areas. Doesn't seem to be an issue in Bangkok 

[bradiston]

39 minutes ago, Dan O said:

Its all connected that's why its relevant. I'm not saying I agree with it but you can't pull one issue out of the mix without affecting all the other areas. If you could it would be easier to change if Thailand wanted to.

How are condo quotas connected to land ownership and business ownership? Ok, they're all restrictions placed on foreign ownership, but the condo issue stands apart. It's regulated by the Condominium Act, 2008. Other laws govern business and land ownership. The fact that the ratios are the same is coincidental. Whatever the reasoning, nobody here has yet come up with an answer as to why the ratio exists for condo ownership. It obviously offers a measure of control for the developers, but do they really give a hoot to whom they're selling? I really doubt it. So, was it a business decision, a paranoid keep Thailand Thai decision, or a what decision?

Edited August 24, 2023 by bradiston

[bradiston]

30 minutes ago, scubascuba3 said:

In many condo blocks around Pattaya thousands of condos remain unsold because foreign quota is full. A quick win from the new government would be to reduce the 51% thai quota, maybe in specific areas. Doesn't seem to be an issue in Bangkok 

I totally agree, but I'm extremely partisan as I've just come up against a full quota in a condo in which I have a serious interest. I wonder if what you say is correct regarding 1000s of unsold condos due to restrictive ratios. I only know night time during covid, of course there were very few apartment lights on all the way down Jomtien Beach road in those immense blocks back from the beach and beyond. Course, that was exceptional. Now, I don't know the situation at all. Same up at Na Klua. Are they 25% empty, conservatively speaking?

[Dan O]

20 minutes ago, bradiston said:

How are condo quotas connected to land ownership and business ownership? Ok, they're all restrictions placed on foreign ownership, but the condo issue stands apart. It's regulated by the Condominium Act, 2008. Other laws govern business and land ownership. The fact that the ratios are the same is coincidental. Whatever the reasoning, nobody here has yet come up with an answer as to why the ratio exists for condo ownership. It obviously offers a measure of control for the developers, but do they really give a hoot to whom they're selling? I really doubt it. So, was it a business decision, a paranoid keep Thailand Thai decision, or a what decision?

There is no coincident in that the ratios are the same. Sorry that you cant see the connection and consistency across the board that Thailand has built in to prevent selling the country to foreign entities. I gave you the reasoning but I guess it doesnt suit your view. Not sure why you feel it offers a measure of control to developers as it actually the opposite. It doesnt matter at ths point as you've made up your mind on lack of reasoning and thats fine. Im done discussing this as you keep going in a circle. have a great day 

[scubascuba3]

19 minutes ago, bradiston said:

I totally agree, but I'm extremely partisan as I've just come up against a full quota in a condo in which I have a serious interest. I wonder if what you say is correct regarding 1000s of unsold condos due to restrictive ratios. I only know night time during covid, of course there were very few apartment lights on all the way down Jomtien Beach road in those immense blocks back from the beach and beyond. Course, that was exceptional. Now, I don't know the situation at all. Same up at Na Klua. Are they 25% empty, conservatively speaking?

the other knock on is Thais like to buy new so those not sold when new can stay empty for decades. I checked 10 condos where i live, haven't been touched for 20+ years 

[bradiston]

4 minutes ago, scubascuba3 said:

the other knock on is Thais like to buy new so those not sold when new can stay empty for decades. I checked 10 condos where i live, haven't been touched for 20+ years 

I guess for the less fussy foreigners it could be a boon, but if they're on the wrong side of the 49/51 divide, I guess they'll never get sold. Empty apartments don't weather well. Mould, damp, decay. What a frigging waste.

[scubascuba3]

8 minutes ago, bradiston said:

I guess for the less fussy foreigners it could be a boon, but if they're on the wrong side of the 49/51 divide, I guess they'll never get sold. Empty apartments don't weather well. Mould, damp, decay. What a frigging waste.

If the condo you're interested in isn't foreign quota and none left then best to move on, some may be freed up in the future as farang die and pass to thai wives and girlfriends