How Easy Is It For A Thai To Buy House?

[simon43]

This question is nothing to do with a 'farang' helping to buy a house for his Thai partner. I'm just asking out of curiosity.

I often see new houses in moobahns being promoted on stands when I visit Big C or Lotus. These properties are being promoted to Thais and perhaps have a purchase price of about 1 - 2 million baht.

What is the normal deal for the average Thai to buy a home like this? Is there a requirement to put down a hefty deposit? Is a mortage for the balance easily obtained? (Criteria?). Or does the housing developer have some inhouse financing scheme?

Thanks for any useful details

Simon

[triplegee]

No different to the West really. In my experience it's relatively easy for Thais to take out a mortgage as long as they have proof of income.

The mortgage's are typically over 25 - 30 years and require a minimum deposit paid.

In a number of cases that I am familiar with other family members act as guarantors.

[Artamus]

No different to the West really. In my experience it's relatively easy for Thais to take out a mortgage as long as they have proof of income.

The mortgage's are typically over 25 - 30 years and require a minimum deposit paid.

In a number of cases that I am familiar with other family members act as guarantors.

Having visited a few of these projects recently (actually looking for rentals not buying) almost all offer something like a 5% down and repayments over 25-30 years. Not sure if the project themselves are arranging the financing, but I guess it's through some bank and providing you (the local) fit the lending criteria you are away.

[pjclark1]

A house built by 'the king' can be had for a moving in price of about 5kbht (300k-400k sale price on a 2 bed detached home )

Followed by payments of about 2bht a month.

According to my bank

Loans to buy homes are called 'home loans'

Loans to buy businesses are called 'mortgages'

[MJo]

Terms and conditions can be found on most bank web sites even in english. At least K Bank has them.

[bifftastic]

A house built by 'the king' can be had for a moving in price of about 5kbht (300k-400k sale price on a 2 bed detached home )

Followed by payments of about 2bht a month.

According to my bank

Loans to buy homes are called 'home loans'

Loans to buy businesses are called 'mortgages'

sorry, 'the king'??? 2bht a month??? what do you mean?

[Umpatan]

A house built by 'the king' can be had for a moving in price of about 5kbht (300k-400k sale price on a 2 bed detached home )

Followed by payments of about 2bht a month.

According to my bank

Loans to buy homes are called 'home loans'

Loans to buy businesses are called 'mortgages'

A house costing only 400,000THB does not require a mortgage in my oppinion. Anyone should be able to bank aside that type of money in a year even if they only make $12.00/hour. I think I can just buy it outright. It is cheaper than a downpayment for a tiny condo in Vancouver, Canada.

[hhgz]

"A house costing only 400,000THB does not require a mortgage in my oppinion. Anyone should be able to bank aside that type of money in a year even if they only make $12.00/hour."

How many Thai nationals make $12/hour, in a neighborhood of 400,000THB homes?

[LivinLOS]

A house built by 'the king' can be had for a moving in price of about 5kbht (300k-400k sale price on a 2 bed detached home )

Followed by payments of about 2bht a month.

According to my bank

Loans to buy homes are called 'home loans'

Loans to buy businesses are called 'mortgages'

sorry, 'the king'??? 2bht a month??? what do you mean?

Government housing for the poor.. Doesnt that seem obvious ??

[ericthai]

A house built by 'the king' can be had for a moving in price of about 5kbht (300k-400k sale price on a 2 bed detached home )

Followed by payments of about 2bht a month.

According to my bank

Loans to buy homes are called 'home loans'

Loans to buy businesses are called 'mortgages'

A house costing only 400,000THB does not require a mortgage in my oppinion. Anyone should be able to bank aside that type of money in a year even if they only make $12.00/hour. I think I can just buy it outright. It is cheaper than a downpayment for a tiny condo in Vancouver, Canada.

We are not talking about Vancouver, we are talking about Thailand READ WHAT THE OP ASKED.

What thai makes that much money? However, even if $12 @ 40hrs = $480 * 52= 24,960 (828,627) So you think you can save half of what you make before taxes? Better stock up on peanut butter and jelly sandwiches. Just to let you know Thai Engineers in Thailand only make 40K per month average. I pay my account good money 15K per month and this is considered high.. You need to check your facts before saying something like this...

[globalwander1]

A house built by 'the king' can be had for a moving in price of about 5kbht (300k-400k sale price on a 2 bed detached home )

Followed by payments of about 2bht a month.

According to my bank

Loans to buy homes are called 'home loans'

Loans to buy businesses are called 'mortgages'

A house costing only 400,000THB does not require a mortgage in my oppinion. Anyone should be able to bank aside that type of money in a year even if they only make $12.00/hour. I think I can just buy it outright. It is cheaper than a downpayment for a tiny condo in Vancouver, Canada.

We are not talking about Vancouver, we are talking about Thailand READ WHAT THE OP ASKED.

What thai makes that much money? However, even if $12 @ 40hrs = $480 * 52= 24,960 (828,627) So you think you can save half of what you mWake before taxes? Better stock up on peanut butter and jelly sandwiches. Just to let you know Thai Engineers in Thailand only make 40K per month average. I pay my account good money 15K per month and this is considered high.. You need to check your facts before saying something like this...

IT WAS OBVIOUS! I'm sure, not your intent, but that could be considered offensive for just about everyone. What do you currently make $ and what do you own? It's not the point and nobody cares. The question had nothing to do with making somebody feel like they are less than you. Like I said, I'm sure you didn't mean it that way.