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Chinese luxury property pitch in Bangkok angers Thai netizens


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Posted
24 minutes ago, Jerry777 said:

Add in the 24hr renovation, cigarette smoking and putting them out on the floors and in the elevators.

Moving furniture late at night.

  • Like 1
Posted
6 hours ago, itsari said:

The trend will continue and the Thai people will see there chances of home ownership become more and more out of there reach.

 

In Bangkok and other tourist-heavy areas - sure. But this won't have an impact on property prices in Isaan etc.

 

Anyway I do agree Chinese shouldn't be allowed to buy out locals, but they can and do illegally circumvent the rules (buying in a company name or with a Thai as the owner). There's nothing they can do to stop it without actual enforcement and harsh penalties - which they don't do usually.

  • Like 1
Posted
23 minutes ago, Scottie12 said:
  • 5 million baht,this has scam written all over it.

This journalist probably knows neither Thai nor Mandarin.  The video says 2m CNY, which is 9.5m THB.

  • Thanks 1
Posted
7 hours ago, webfact said:

“I went to sleep in Thailand but woke up in China.”

That is the reality when you open the front door to China...

Thailand is sleeping, and while you were this happens.

  • Agree 2
Posted
9 minutes ago, hhaat said:

This journalist probably knows neither Thai nor Mandarin.  The video says 2m CNY, which is 9.5m THB.

That sounds more like the average price in that area for houses.

Posted

Thailand needs to fix its land lease rule.

 

You cannot lease out a piece of land, eg the land this house is on, for 30 years or longer, and collect all the rent up front.  It simply means you are giving up control of the land.  The is the same as selling it.  And the buyer does consider himself/herself owning the land.  Then your attempt to prevent foreign ownership of that piece of land is meaningless.

 

How to fix?

 

* You can only collect maximum 1 year of rent up front.

* The rent cannot be the same forever.

* You must have the right to adjust the rent every year.

* If the tenant does not want to pay, he/she has to leave the land, and transfer anything built on it, to you, free of charge.

  • Confused 2
  • Agree 1
Posted
7 hours ago, Badbanker said:

Right now there are thousands of houses effectively owned by foreigners through a nomineee company in Thailand and this has been going on since 1972!  Condos that are past the 49% foreigner ownership level just register a nominee company to hold the property and effectively own them!

 

There are also many very large hotels similarly owned by nominee companies effectively totally controlled by large hotel chains.   

 

This is normally done is quitely, but Chinese people have decide to be open about it as their number grow intensly in Thailand.   

 

The Thai government needs to wake up to the reality of the real world!

 

 

The big challenge is that the price for the condos is so high in BKK that thais can not afford them.  Therefore they are sold to anyone with the money to buy.

 

It would be nice to see a condo built that did not have all the bells and whistles that made them expensive.  

 

 

  • Thumbs Up 1
Posted
1 minute ago, kingstonkid said:

The big challenge is that the price for the condos is so high in BKK that thais can not afford them.  Therefore they are sold to anyone with the money to buy.

 

It would be nice to see a condo built that did not have all the bells and whistles that made them expensive.  

 

 

 

 

I assume there are...but all towards the outskirts?

Posted
3 minutes ago, Will B Good said:

 

 

I assume there are...but all towards the outskirts?

condo 1 bdrm in Khu Khot 2 mil  but you can buy an old garden home for 3m.  People are moving out of the city.

 

My other question is if economist adn doom-sayers are right what will be the worth of these places in 5 years

 

Posted
1 hour ago, PingRoundTheWorld said:

In Bangkok and other tourist-heavy areas - sure. But this won't have an impact on property prices in Isaan etc.

 

Anyway I do agree Chinese shouldn't be allowed to buy out locals, but they can and do illegally circumvent the rules (buying in a company name or with a Thai as the owner). There's nothing they can do to stop it without actual enforcement and harsh penalties - which they don't do usually.

Korat has skyrocketed thinking bkk has to move because of flooding , they think Korat wil be next Bangkok 

  • Haha 2
Posted

Land 'ownership' or long term use is accomplished through long term perpetual leased, usufruscts, or held in a Thai company. Has been this way for ages.

Posted

Maybe they own the houses by being first adopted by this woman:

 

Quote

Ms Navaporn was a Chinese national who obtained Thai citizenship after marrying a Thai man. She later divorced him and married a Chinese man, and they had three children. The children had Thai citizenship, because of their mother, with the right to own and operate a business.

https://www.bangkokpost.com/thailand/general/2547729/silom-raid-exposes-chinese-womans-illegal-business-dealings. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Bangkok Post PCL. All rights reserved.

 

Posted
5 hours ago, Emdog said:

IS there any evidence that houses have been sold for those prices that were advertised?  Sounds like a "too good to be true" price for that house with that location and amenities. Could it actually be part of a scam?

China - scam seems about right to me.

  • Agree 1
Posted

introduces a luxury villa in the Rama 9 neighbourhood of Bangkok, which is available for nearly 5 million baht.

 

 

5 million buys you a luxury house now? where?

Posted
2 hours ago, hhaat said:

Thailand needs to fix its land lease rule.

 

You cannot lease out a piece of land, eg the land this house is on, for 30 years or longer, and collect all the rent up front.  It simply means you are giving up control of the land.  The is the same as selling it.  And the buyer does consider himself/herself owning the land.  Then your attempt to prevent foreign ownership of that piece of land is meaningless.

 

How to fix?

 

* You can only collect maximum 1 year of rent up front.

* The rent cannot be the same forever.

* You must have the right to adjust the rent every year.

* If the tenant does not want to pay, he/she has to leave the land, and transfer anything built on it, to you, free of charge.

Only an idiot pays the rent 30 years upfront.

  • Like 1
  • Agree 1
Posted
4 hours ago, chiman said:

Wait till they are your neighbors.  They keep dangerous dogs that often get out and chase kids.  Let their kids defecate in the community pool.  Blow their nose in the pool, pool deck, on the furniture.  Drive powerful luxury cars like maniacs past children and adults.  Throw loud parties and drink all night.  

And that is only your next door neighbours. The neighbours from hell are on the march.

Posted (edited)
45 minutes ago, FritsSikkink said:

Only an idiot pays the rent 30 years upfront.

From Youtube videos, many foreigners are doing this. 

 

Pay the full price of the (house + land).  Legally, it is a 30-year rent, automatically renewable up to 90 years.  Then sign a usufruct.  This is basically the same as owning the house and the land.  Just that they probably cannot be sold.

 

Many are prepared to die in Thailand.  Or let their offsprings continue living there after they are gone.  So they don't really care what happens after 90 years.  Because even their offsprings have no chance to outlive the 90 years.

Edited by hhaat
Posted
7 hours ago, Gottfrid said:

What a useless idea! First the risks. After, how do you sell a property like that with genuine papers?

If you have a property in Company name, you are not selling the House or Condo, you are selling the Company. Very easy to do.

Posted

I guess because I click on this site I get bombarded with adds like this. But, aimed at the US market. Buy your dream home in Thailand daily?   Thai's promoting it to rip off foreigners.  They are usually bundled with the Thai Elite visa scheme. So I assume it the government promoting it.

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