Foreigner Buying Condo Unit Without Fixed Income.

[dudeyone]

Can a foreigner buy a condo unit on a tourist visa and without fixed income? Let's say I got about 1m BHT and I would like to buy a 1 bed room condo which is 2m, will I be able to? I have income, but it's not from within Thailand and it's not fixed. Or must I pay for the entire thing right away?

Also in this situation, will it be better to buy or rent? I feel like I'm wasting all that money paying for rent all the time. Why not buy a unit instead, seems like it's pretty cheap at this point.

[trogers]

Foreigners can only buy a condo by sending 100% of the price of the condo in foreign currency into Thailand. You have Bt1m, you can buy a unit that cost only Bt1m.

Type of visa does not matter.

Edited April 23, 2009 by trogers

[dudeyone]

Dang.

[hhgz]

A recent post from think_to_mut commented that the condo prices in BKK have "zeroed out". So, according to him, they're "free". Perhaps your money will go farther that you originally thought!

[trogers]

A recent post from think_to_mut commented that the condo prices in BKK have "zeroed out". So, according to him, they're "free". Perhaps your money will go farther that you originally thought!

In Econs 101, we were taught the Supply curve always start at the origin of the graph (0,0) and slopes upwards to the right.

But in Real Estate Economics, they found that the Supply curve stop having any quantity below a certain price point. This means there can be high demand but zero supply below that price point. We are now seeing this ocurrance in many new projects.

[dudeyone]

What kind of 1 bed room condo can one expect with 1m BHT? Something decent, new and modern perhaps?

[trogers]

What kind of 1 bed room condo can one expect with 1m BHT? Something decent, new and modern perhaps?

More likely a 30+ m2 studio for recent finished projects, look at Udomsuk/Srinakarin area. If 8-10 years old 1-bedroom 40-45m2, try 3-5km inside Sukhumvit Soi 77 (Oonut).

[think_too_mut]

A recent post from think_to_mut commented that the condo prices in BKK have "zeroed out". So, according to him, they're "free". Perhaps your money will go farther that you originally thought!

No, only yours - 6 mil baht have zeroed on their value, resale or rent.

1-2 mil (even sub-1 mil) or around stand good or better chances. Thais that don't like second hand would, as anyone would, get something for 1 mil that rents for 5000B per month. They might buy dozens of such units, if offered.

Try to give yours for that money - that market segment would baulk at the levies. Try to give it away, see if you get any interest at all.

[think_too_mut]

What kind of 1 bed room condo can one expect with 1m BHT? Something decent, new and modern perhaps?

More likely a 30+ m2 studio for recent finished projects, look at Udomsuk/Srinakarin area. If 8-10 years old 1-bedroom 40-45m2, try 3-5km inside Sukhumvit Soi 77 (Oonut).

That's how I would approach it if I were in that price range, for live in full time.