Making A Profit From House Purchase

[bratpack]

I purchased my 2 bed/2bath 1 story house 2 years ago,in central Pattaya, and if i sold now it would give me about 700,000 baht profit.What sort of profit would you guys and gals make if you decided to sell,and has it been a good investment for you.

[ballbreaker]

Don't count your chickens before the eggs hatch.

You must have a sale before you can have a profit.

[bratpack]

Got no chickens to count mate.Read the post again i said ABOUT.It could be 1000,000 or 400,000.A couple of houses near me have come on the market and both sold so not pulling figures out of the air.

chill out and answer the question if you own an house,if not dont reply.

[bangsaenguy]

We built our house 3 years ago and have been offered about 40% more than I have invested. Chose not to sell, however.

[imaneggspurt]

This is a very quiet topic, any others on a profit ?

[glyph]

"You must have a sale before you can have a profit."

Exactly, a small point that the OP missed. I reminded of one of my father's jokes: I almost became a millionaire. I asked a guy for a million dollars, and he said "no". But, if he said "yes", I'd be a millionaire.

[Riley'sLife]

Errrr...excuse my cynicism old boy, but don't you mean .....

you bought your Thai wife or gf a house, and if SHE sold it now for 700,000 baht more than you gave her to buy it, SHE would make 700,000baht profit, plus the original sum that you donated?

[ballbreaker]

Got no chickens to count mate.Read the post again i said ABOUT.It could be 1000,000 or 400,000.A couple of houses near me have come on the market and both sold so not pulling figures out of the air.

chill out and answer the question if you own an house,if not dont reply.

I'm cool man.

Just because someone bought the ones down the street doesn't mean a person will come along and want your house for that price. House markets can change overnight.

[BEENTHEREDONETHAT]

To say you will make 100,000 or 1 million or ten million dosen't really mean much unless you say what you had invested. If you invested 10,000,000 and made 100,000 I don't think anyone will be impressed. If you invested 100,000 and made ten million, I don't think anyone would believe you.

Check back when it has been sold I'm sure most would be interested. But to be meaningful you need a before and after figure.

[pampal]

I bought a couple of condo's last year in BKK (Din Daeng near Ratchada), bought them cheap aroun 950K baht, and they now go for 1.4 million baht, and I am planning to sell.

[LivinLOS]

Does that price increase include any taxes paid to be able to get the money out of the country ??

Did you have the money in Thailand and if not have you considered currency fluctuations (pos or neg) to remit it back to the origional currency ?? If I had bought anything with Euros last year (42 EUR to the THB) and sold them now a year later even a 20% rise in the baht value of the investment wouldnt get my EUR back. As I keep most of my money in hard money (gold) you would need a 45+ % rise in the value of any property just to even not lose in real terms when compared with hard money.

[henrytuttle]

I bought an apartment in Phuket for 2.9 in early 2004. If I sold now, it'd probably worth about 4.5? Not so thrilled with the return.

I bought in Dubai 1 1/2 years back. Sold a few months back. 40% profit.

I'm sure if Thailand dropped restrictions of foreigners buying property, you'd see the same kind of numbers for a few years.

[mgreek]

I bought an apartment in Phuket for 2.9 in early 2004. If I sold now, it'd probably worth about 4.5? Not so thrilled with the return.

I bought in Dubai 1 1/2 years back. Sold a few months back. 40% profit.

I'm sure if Thailand dropped restrictions of foreigners buying property, you'd see the same kind of numbers for a few years.

Unfortunately, you are right, but what we can do ... our girfriends live in Thailand... and we are trying to find a way to make some profit over there...

[prefabs]

I bought an apartment in Phuket for 2.9 in early 2004. If I sold now, it'd probably worth about 4.5? Not so thrilled with the return.

I bought in Dubai 1 1/2 years back. Sold a few months back. 40% profit.

I'm sure if Thailand dropped restrictions of foreigners buying property, you'd see the same kind of numbers for a few years.

Unfortunately, you are right, but what we can do ... our girfriends live in Thailand... and we are trying to find a way to make some profit over there...

Exactly. And one of the main reasons the Thai people do not want any changes to the house purchase structure. If there is money to be made, Thais do not want anyone else to get their hands on it. I think this post does no expat any favours

[tommyj4]

Errrr...excuse my cynicism old boy, but don't you mean .....

you bought your Thai wife or gf a house, and if SHE sold it now for 700,000 baht more than you gave her to buy it, SHE would make 700,000baht profit, plus the original sum that you donated?

Cant foreigners purchase through a company or leasehold. Is the only way to buy property like this guy says.

[tw25rw]

I bought an apartment in Phuket for 2.9 in early 2004. If I sold now, it'd probably worth about 4.5? Not so thrilled with the return.

I bought in Dubai 1 1/2 years back. Sold a few months back. 40% profit.

I'm sure if Thailand dropped restrictions of foreigners buying property, you'd see the same kind of numbers for a few years.

Unfortunately, you are right, but what we can do ... our girfriends live in Thailand... and we are trying to find a way to make some profit over there...

Exactly. And one of the main reasons the Thai people do not want any changes to the house purchase structure. If there is money to be made, Thais do not want anyone else to get their hands on it. I think this post does no expat any favours

Yes, and I think it's just right how it is. I wish my own country had similar rules about land ownership to stop wealthy foreigners treating our real estate as a commodity and making life expensive for those of us trying to buy a home.

[poshthai]

Errrr...excuse my cynicism old boy, but don't you mean .....

you bought your Thai wife or gf a house, and if SHE sold it now for 700,000 baht more than you gave her to buy it, SHE would make 700,000baht profit, plus the original sum that you donated?

[Naam]

I purchased my 2 bed/2bath 1 story house 2 years ago,in central Pattaya, and if i sold now it would give me about 700,000 baht profit.What sort of profit would you guys and gals make if you decided to sell,and has it been a good investment for you.

my best guess is that i lose about 10 million Baht... that is IF i find a buyer willing to shell out 15 million (which i strongly doubt under the prevailing circumstances).

[sabaijai]

Errrr...excuse my cynicism old boy, but don't you mean .....

you bought your Thai wife or gf a house, and if SHE sold it now for 700,000 baht more than you gave her to buy it, SHE would make 700,000baht profit, plus the original sum that you donated?

Cant foreigners purchase through a company or leasehold. Is the only way to buy property like this guy says.

Foreigners can own condos in their own name.