Would You Buy Condo Now In Bangkok?

[pkrv]

Alright I will not buy ad stick to UK however expensive it is for a box

I was going to buy to live

Whats the buyer situation in othe asian countries?

Anyone know please?

Before parting with your hard earned cash, I would check on the residency requirements for those countries.

Anyone with money can buy property, but will you ever be able to live in it if you dont meet the financial rules imposed.

Also try living in the country first and see if you would actually want to live there.

It would be very easy for me to buy say a 2.5 million baht condo tomorrow, but its of no use to me if I dont qualify for an annual visa extension due to not having the financial minimum in the bank or meet the monthly minimum income extension rules.

Plenty of cheap properties in Asia, they are cheap for a reason.

IMO Great post - he should also consider renting first, then take it from there - but on the other hand he may actually have no choice, though it is difficult to see if he can down size from such a position, and renting is a life time commitment.

I too am UK based but the UK's pensions have already been spent 'on our behalf' so an income from this source is probably not a viable way of meeting the financial requirements - Including state pension (it is not linked to inflation if you leave the E.U. or some other countries)

I too am looking at an "O-A" with an associated "O" visa. 'Interesting' times ahead for me as I move down that path. I have cash just not in childish financial instruments of the past such as pensions (though I do in theory have one or two, plus a state one (30 years NI paid up in full), if they are not stolen first).

I was not aware that Singapore offered freehold properties to foreigners. trodjers are you sure you are correct here? In any event I would not touch the country with a barge poll (even if extra extended).

Edited September 24, 2009 by pkrv

[trogers]

I was not aware that Singapore offered freehold properties to foreigners. trodjers are you sure you are correct here? In any event I would not touch the country with a barge poll (even if extra extended).

Yes, foreigners can acquire freehold properties as long as they are apartment or condo units, but are not allowed to acquire landed properties and vacant land.

http://www.sla.gov.sg/htm/ser/ser0306.htm

[MickeyM]

Mate, My advice is that you buy nothing permanent in Thailand. Many good reasons if you want to preserve your savings. Just do some inquiries. If anyone is honest to you that bought property here they will tell you that it was a big mistake.

I bought a 140 sq/mtr at 27,000 sq/mtr (Near Siam) in 1999. Am I dishonest in saying I am happy?

(My Advice: Look for used condos in a well maintained bldg. Usually much cheaper than new buildings.)

[pkrv]

Thanks for the link and confirmation trojers.

Many of us on the forum are indeed happy with our condominium purchases. If I were to sum up some of the guys I have been speaking to it would be to say their purchase was not a snap decision, but instead well considered, over quite a period of time.

From a UK perspective GBP remains in the doldrums in terms of THB about 53.5 (ouch). Not exactly an ideal time to transfer. FX movement as we have all discovered becomes a matter of high priority for an expat.

[whitethai]

I very aware of the ViSA thing but thanks to remind me

Alright I will not buy ad stick to UK however expensive it is for a box

I was going to buy to live

Whats the buyer situation in othe asian countries?

Anyone know please?

Before parting with your hard earned cash, I would check on the residency requirements for those countries.

Anyone with money can buy property, but will you ever be able to live in it if you dont meet the financial rules imposed.

Also try living in the country first and see if you would actually want to live there.

It would be very easy for me to buy say a 2.5 million baht condo tomorrow, but its of no use to me if I dont qualify for an annual visa extension due to not having the financial minimum in the bank or meet the monthly minimum income extension rules.

Plenty of cheap properties in Asia, they are cheap for a reason.

[pkrv]

Given the OP is UK based I thought this incredibly illuminating video would shed light on the matter from a UK perspective

Expert commentary here

It brought tears to my eyes...

Original thread here:

http://www.thaivisa.com/forum/Gbp-Sterling-t299150.html