Chinese luxury property pitch in Bangkok angers Thai netizens

[Marco51]

7 hours ago, webfact said:

 

Thai netizens raised concerns and legal questions following the release of an advertising video featuring Chinese nationals selling luxury houses in the Rama 9 area of Bangkok, despite Thai law prohibiting land ownership by foreigners.

 

A TikTok user, @thaiarya.party, shared the advertising video of the Chinese-owned residential project on Monday, August 26, with a caption that read, “We (Thai people) may have to rent Chinese-owned houses in the future.”

 

In the video, a Chinese male host introduces a luxury villa in the Rama 9 neighbourhood of Bangkok, which is available for nearly 5 million baht. This price is considered very low for a project located in the city centre of Bangkok, which is well-equipped with shopping malls, hospitals, schools, petrol stations, public transport, and more.

 

The Chinese host also gives a home tour, showcasing what the luxury house has to offer. The ground floor of the house includes a kitchen, living room, dining area, an empty room ideal for a home gym, a pet area, and a maid’s room.

The second floor is described as having all the features one would expect from a luxury mansion. It includes a balcony, four bedrooms, a luxury walk-in closet in the master bedroom, a children’s room, and more.

The video attracted significant attention from Thai netizens.

 

“How was the project registered? Foreigners cannot buy land.”

 

“Where are Thai people going to live in the near future?”

 

“Is this China?”

 

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

 

“I did some research. Foreigners can buy villas, houses, or buildings, but they cannot buy land. They can only rent plots of land on a long-term basis, up to 30 years.”

 

“I’ve seen many Chinese-owned companies selling houses.”

 

Prominent Thai lawyer Decha Kittiwittayanon confirmed that foreigners, including Chinese nationals, cannot purchase land in Thailand, except in specific legal circumstances such as investment promotion projects.

The lawyer stated that the actions of these Chinese-owned companies violate the law and that the Ministry of Interior should oversee this issue.

 

Furthermore, the Chinese nationals featured in the video and those working for real estate companies must have work permits to operate legally in Thailand. The Ministry of Labour should investigate this matter.

 

The lawyer also accused some legal professionals of collaborating with foreigners to illegally obtain ownership of land and buildings, particularly in Pattaya, Phuket, and Samut Prakan provinces.

 

 

 

by Petch Petpailin

Photo via DailyNews and TikTok/ @thaiarya.party

 

Source: The Thaiger 2024-08-30

 

 

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Thailand is simply following Cambodia, Laos and Burma and does anyone believe that The Shinawatra clan is opposed to big money and dictatorial control from China? 

[mokwit]

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.

[PingRoundTheWorld]

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.

[hhaat]

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.

[hotchilli]

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.

[Will B Good]

 

 

Welcome the Chailand.

 

Step 1. Learn how to kowtow .....you'll be doing that a lot.

[ChaiyaTH]

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.

[hhaat]

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.

[kingstonkid]

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.  

 

 

[Will B Good]

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?

[kingstonkid]

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

 

[Will B Good]

1 minute ago, kingstonkid said:

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

 

 

 

People must be starting to get nervous.....especially if they get a major flood reinforcing the notion of rising sea levels and a sinking city.

[Irish star]

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 

[sambum]

I can understand their concern.

 

In the North West of the UK, there is a very desirable area known as the Lake District, and in the largest town Keswick (and surrounding areas) the houses are being bought up as "holiday homes" by wealthy Southerners.

 

This has pushed the prices up to the extent that owned housing is now out of the reach of young locals trying to get their first house, and they either have to rent, (at inflated prices), or move to a different location, which is not really acceptable. 

[johnc925]

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.

[Will B Good]

1 minute ago, johnc925 said:

usufruscts

 

OMG....got to slip that into a conversation sometime this week.

[JeffersLos]

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.

 

[sherwood]

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.

[john donson]

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?

[FritsSikkink]

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.

[cracker1]

Was there any mention that the land the houses are on was included in the sale ?

[IamNoone88]

Luxury Mansion. Give it a break. 

[Surasak]

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.

[hhaat]

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.

[818Pilot]

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

So true! 

[Deez]

" I went to sleep and woke up in China".  Very true. 

[harleyclarkey]

If you Thais detest foreigners buying property in Thailand.....then darn well STOP buying properties in the EU, USA. Australia, etc.

The people who can afford these properties abroad are the ones on the graft and scams. The same ones who stop foreigners having proper legally tight title. 

Hypocrites 

[UWEB]

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.

[still kicking]

12 hours ago, 2baht said:

Bow to the Emperor (Xi)!

[Gknrd]

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.