New Member

[rotherman]

Hi I am new to this forum

I am thinging of buying a condominium in Bangkok or Pattaya

The prices seem very good

I have heard that Thailand is a risky investment - does anyone know of any problems???

Also - what is the cost of living like, for eating out/drinks etc.

I have never been - but hopefully will be able to go in the next few months

[ProfessorFart]

For a newcomer to consider buying property in Thailand is lunacy.

My advice is plain and simple. Go and spend some time in Thailand yourself and then post the same question again once you've been.

[OldAsiaHand]

Agreed. The residential property market here isn't at all like in the UK or the US. It's largely illiquid since Thais, on the whole, aren't willing to buy what they insist on calling 'used property.' When you buy a flat in Thailand, you have to be prepared to own it for a long, long time. Maybe forever.

[cojones]

Agreed. The residential property market here isn't at all like in the UK or the US. It's largely illiquid since Thais, on the whole, aren't willing to buy what they insist on calling 'used property.' When you buy a flat in Thailand, you have to be prepared to own it for a long, long time. Maybe forever.

<{POST_SNAPBACK}>

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and be prepared to never see your money again .

theres a lot of speculative players in the market, so things are not what they seem ..

you might have a fabulous view , but that could change when another building is erected

20 feet away .

[rotherman]

Agreed. The residential property market here isn't at all like in the UK or the US. It's largely illiquid since Thais, on the whole, aren't willing to buy what they insist on calling 'used property.' When you buy a flat in Thailand, you have to be prepared to own it for a long, long time. Maybe forever.

<{POST_SNAPBACK}>

So it seems like its Ok to buy as a holiday home - but not much prospects of re-selling. I have recently bought an apartment in Bulgaria - similar situation, most of the people buying are from the UK - The Bulgarians cannot afford property especially as the prices are rising! And when I want to re-sell, probobily it will be to another English person.

I dont intend to buy in Thailand before I visit - but am trying to get as much info before I go..

[ProfessorFart]

Buying property in Thailand as an investment is a risky business.

Rents are so low by western standards that if I were you I'd just rent a holiday home.

[wrksysact]

Don't believe all the scare stories.

Prices for most things are LOW in Thailand, eating out and clothes and day to day items are very cheap compared back to the UK.

Condo prices are low too and you can get some amazing bargains.

Good advice to come out to Thailand and travel around a bit, check out the country and decide if you like Bangkok or maybe prefer beachside dwelling.

Always get legal advice!

Check this excellent link with a good FAQ guide.

http://www.thaiproperty.com/index.htm

[dugdig]

Check out Hua Hin. Lots of foreigners there owning property which might help to stabilize prices but I believe its kind of expensive already because of this. RE-sale is probably more realistic because it IS so popular with foreigners who don't have the Thai bias against "used property". I know it seems strange to foreigners but it seems to be true that Thais definitely want new houses...partly because they are never sure if the previous resident might have left ghosts in the house. I don't know much about investing in property in Thailand but if I were you I'd check out Hua Hin. Also His Royal Majesty The King has a residence in Hua Hin so this pretty much assures a calm and pleasant community.

[p1p]

As a general rule, it is almost NEVER worth purchasing. Rental is so cheap as a proportion of the purchase price, and the market for "used" homes so limited that purchasing should not be an option unless the property, is in some way, exceptional.

[phormio]

As a general rule, it is almost NEVER worth purchasing. Rental is so cheap as a proportion of the purchase price, and the market for "used" homes so limited that purchasing should not be an option unless the property, is in some way, exceptional.

<{POST_SNAPBACK}>

Well hey, if you really want to sell , you can tear down your house, build a new one, and sell a new house. Or just tear down the 'used' (or pre-occupied as a car salesman might put it) house and sell the land.

[dugdig]

Well hey, if you really want to sell , you can tear down your house, build a new one, and sell a new house. Or just tear down the 'used' (or pre-occupied as a car salesman might put it) house and sell the land.

<{POST_SNAPBACK}>

Don't think they'll let you tear down your condo though.