Property Overseas: Is It Safe To Buy Thai?

[bingobongo]

there are 200+ countries in the world and i can think of 100

So what is the current state of the market?

[JimmyCA]

Safe to buy Thai? In a word - NO

[jumnien]

There are many negatives to the Thai market at present. For those that like to buy high and sell low, I'm afraid you'll have to wait for prices to rise.

[londonthai]

on top of a political situation, there are as well issues of terrorism within the country, violent inurgency in the south, visa restrictions and looming economic crisis.

the sale of condos picked up, but after their prices were slashed down. I would expect for the prices to fall further if there is global crash

[suegha]

I disagree, market's flat right now, has not seen an increase in quite a while, buy now, things can only pick up!

Still, buy wisely!

[tattoodrob]

There are many negatives to the Thai market at present. For those that like to buy high and sell low, I'm afraid you'll have to wait for prices to rise.

who likes to buy high and sell low.........thats financial suicide isnt it.i prefer to buy when low and sell at profit when prices rise.

[jackr]

There are many negatives to the Thai market at present. For those that like to buy high and sell low, I'm afraid you'll have to wait for prices to rise.

who likes to buy high and sell low.........thats financial suicide isnt it.i prefer to buy when low and sell at profit when prices rise.

[chiang mai]

There are many negatives to the Thai market at present. For those that like to buy high and sell low, I'm afraid you'll have to wait for prices to rise.

who likes to buy high and sell low.........thats financial suicide isnt it.i prefer to buy when low and sell at profit when prices rise.

:D

[thaigene2]

Thailand is still a nice place to live and would be one of my first choices. To me the major disincentives however are the visa issues, the Thai establishment's attitude to foreigners of working age who want to live here - even when they are married to Thai citizens, and foreign resident's access to local credit. Foreign men married to Thais - even with kids born here - have no rights to abode/residency.

So as you can see, there are quite a few things to consider. If you are hoping to retire here, and are in the top 10-15 percentile group of pensioners moving here from a developed economy, you are 'probably' welcome for some time to come. But even then, who knows? Until very recently, mid-pension earners were welcome to buy a condo here and get a retirement visa, but now that group seems to be in trouble too - especially if it is a foreign couple retiring here as the govt now want to see a minimum of 1,500 dollars per month income from each person (e.g. if the wife relied on her husband's pension, the financial income requirments for the renewed 2 Thai retirement visas would double).

All this needs to be liberalized - and in a common-sense place that would happen. Uncertainty drives people away. That must have a negative affect on real estate in Thailand - not just directly rfom foreigners who are afraid to invest/buy here, but because it has a knock-on effect on the service industry, the guys who install air conditioners, restaurants in farang enclaves, hospitals gearing up for more foreign patients, etc. It drags down the economy as a whole.

Add the debacle of the FBA to that, and whow Nelly..!

Edited September 19, 2007 by thaigene2

[jumnien]

There are many negatives to the Thai market at present. For those that like to buy high and sell low, I'm afraid you'll have to wait for prices to rise.

who likes to buy high and sell low.........thats financial suicide isnt it.i prefer to buy when low and sell at profit when prices rise.

:D

If you really like to buy low and sell high, then the market might be worth a look. But most people will prefer to wait until a lot of the negatives subside and prices rise to really be interested at all in buying property in Thailand.

[Jingthing]

the govt now want to see a minimum of 1,500 dollars per month income from each perso

This is simply false. The retirement requirements can be met fully with a bank account and no income shown at all.

I do agree for foreigners the visa uncertainties are a huge reason not to buy here, if you expect to live in your property. If buying, consider buying a property that is not so farang oriented, but rather would be desirable to Thais even when used, and that is quite a trick.

Edited September 19, 2007 by Jingthing

[backflip]

"So what is the current state of the market?"

bingobongo, have you become a troll? You live in Thailand with your partner, and you find every excuse not to buy a home. Are you just trying to sucker in newbies to read your stuff?

[thaigene2]

the govt now want to see a minimum of 1,500 dollars per month income from each perso

This is simply false. The retirement requirements can be met fully with a bank account and no income shown at all.

I do agree for foreigners the visa uncertainties are a huge reason not to buy here, if you expect to live in your property. If buying, consider buying a property that is not so farang oriented, but rather would be desirable to Thais even when used, and that is quite a trick.

Let me gentle - with a face saving way out - ok? So could you please explain what on earth you are talking about?

[mikethevigoman]

There are many negatives to the Thai market at present. For those that like to buy high and sell low, I'm afraid you'll have to wait for prices to rise.

who likes to buy high and sell low.........thats financial suicide isnt it.i prefer to buy when low and sell at profit when prices rise.

Goes on all the time here dosent it ! lol

[thaigene2]

"So what is the current state of the market?"

bingobongo, have you become a troll? You live in Thailand with your partner, and you find every excuse not to buy a home. Are you just trying to sucker in newbies to read your stuff?

No Backkflip - he secretly wants to 'backflip' you mate! Just cause you're sooo coool.

[fletchsmile]

"So what is the current state of the market?"

bingobongo, have you become a troll? You live in Thailand with your partner, and you find every excuse not to buy a home. Are you just trying to sucker in newbies to read your stuff?

Ah so that's where his money is. Tucked away in a cave under a rock. All makes sense now.

[bingobongo]

gee you think?

why would someone to want invest in a police state in the first place?

notice it says SINCE the coup, meaning it has been going nowhere since 2006,which means 1 year of wasted investment opportunity.......

Property market slows down since military coup

http://etna.mcot.net/query.php?nid=31786

Edited September 21, 2007 by bingobongo

[tim77]

The risk of ownership of property varies with (1) the type of title; and (2) the method of ownership.

Fortunately, sound title is available in Thailand. The best title dead is a Chanod, and it is excellent. Lower ranking title documents are available, but the risk increases.

Fundamentally, non-Thais may not own real property (lot, house and lot, condominium unit) in Thailand except in a few limited circumstances. For most people (certain investments to the contrary) these circumstances are:

(1) Owning a condominium unit that is permitted to be owned in a foreign name (the so called, 49% condominium unit) is safe. Such a unit is freely transferable.

(2) Owning real property (e.g., lot, house and lot, a non-49% condominium unit) under a 30 year (or shorter lease) lease is also quite safe. Some argue that options to extend even a 30 year lease are possible, but this seems both risky and problematic. There may be some difficult in assigning (or sub-leasing) the lease, and the lessor will have a tax liability. Please note - a lease from a wife can be canceled by her.

(3) Owning real property (e.g., lot, house and lot, a non-49% condominium unit) by way of a usufruct is also quite safe. Please note - a usufruct from a wife can be canceled by her.

(4) Owning real property (e.g., lot, house and lot, or even a non-49% condominium unit) using the company scheme is presently risky and may not be suitable. As background, for many years foreigners became shareholders in a Thai company, with a mixed shareholding of Thais and non-Thais. This mixed shareholding would attempt to be structured so as to permit the company to own real property. The company scheme requires some annual expenses in maintaining the company and in dealing with some tax income issues. Recently the company scheme has come under scrutiny by the Thai government, and thus may be a very risky and unsuitable way to own real property.

There is a lot of excellent information is this forum, and it should be consulted. A reputable lawyer should, of course, be consulted.

Edited September 22, 2007 by tim77

[bingobongo]

fools and their money are soon separated

[fletchsmile]

gee you think?

why would someone to want invest in a police state in the first place?

notice it says SINCE the coup, meaning it has been going nowhere since 2006,which means 1 year of wasted investment opportunity.......

Property market slows down since military coup

http://etna.mcot.net/query.php?nid=31786

Personally haven't noticed much difference in the level of police activity in my life. Perhaps they're just out to get you and only you.

People also buy property for reasons other than simply investing. eg Many of us do it for nesting, instead of renting, with a low rate mortgage. Also haven't lost a year as would be buying Q407 i.e a couple of months before the elections. By the time the 10years mortgage is up we're confident prices will be higher.

When you say 1 year wasted investment opportunity, that assumes buying something else, somewhere else. Selected buys have done quite well thanks.

In addition to property for living in long term, in mid-higher range. Dare I also suggest a buy on SET related assets. With the elections out of the way, additional confidence, and under-priced market relative to peers, I think there's some comfortable investments in some areas there too.

Edited September 25, 2007 by fletchthai68

[fletchsmile]

gee you think?

why would someone to want invest in a police state in the first place?

notice it says SINCE the coup, meaning it has been going nowhere since 2006,which means 1 year of wasted investment opportunity.......

Property market slows down since military coup

http://etna.mcot.net/query.php?nid=31786

You were right you did miss the fall in early August. Even taking that into account (mostly made up again since then):

Aberdeen Thailand Long Term Equity Fund up approx 22% over one year to Sep

Aberdeen Thailand Growth Fund up approx 23% over one year to Sep

Average Thai Equity Fund up 21.15% year to 28 Aug

Would they be goods reasons, in addition to investing in a country we enjoy and live in?

Edited September 25, 2007 by fletchthai68

[Naam]

gee you think?

why would someone to want invest in a police state in the first place?

notice it says SINCE the coup, meaning it has been going nowhere since 2006,which means 1 year of wasted investment opportunity.......

Property market slows down since military coup

http://etna.mcot.net/query.php?nid=31786

You were right you did miss the fall in early August. Even taking that into account (mostly made up again since then):

Aberdeen Thailand Long Term Equity Fund up approx 22% over one year to Sep

Aberdeen Thailand Growth Fund up approx 23% over one year to Sep

Average Thai Equity Fund up 21.15% year to 28 Aug

Would they be goods reasons, in addition to investing in a country we enjoy and live in?

not if your name is Boinky-Bonkers