Buying A Condo In Pattaya

[TheAceFace]

Thanks for the info.

[benchmark]

Thanks for the info.

It looks like the Thai government is going to extend the promotion of reduced rates of transfer fees and taxes for buying property. I copied the following post from another thread, author's name is "Bendix".

It hasn't been publicly announced yet, but today the Thai cabinet approved a revised tax package which is designed to give the real estate industry a significant boost by cutting the taxes and fees paid on real estate transactions.

The new rulings - needing royal assent, and subject to being implemented at a yet to be decided date - can be summarised as follows:

1 The reduction of the Specific Business Tax for the sale of real property from 3% to 0.1% of the selling price or the official assessed price, whichever is higher. (the period for this package is one year from the effectiveness of the royal decree to implement this tax reduction);

2. The reduction of the Registration Fee for the registration of the "sale" of real property at the Land Office from 2% to 0.01% of the official assessed price for the sale of:

(i) land, building, or land with building according to the Land Subdivision for Sale law (กฎหมายจัดสรรที่ดิน);

(ii) condominium unit, detached house, townhouse or commercial building

(iii) office building or land with office building

3. the reduction of the Registration Fee for the registration of the "mortgage" of real property at the Land Office from 1% to 0.01% of the official assessed price for the mortgage of

(i) land, building, or land with building according to the Land Subdivision for Sale law (กฎหมายจัดสรรที่ดิน);

(ii) condominium unit, detached house, townhouse or commercial building.

Please note that this post is an old post and I did not note that it is when I posted it here.

So, please ignore all my comments regarding this topic. I do apologize for the mistake.

Edited November 25, 2009 by benchmark

[benchmark]

Sure, I will post some photos from the real showrooms tomorrow or day after. They are much better than the graphic design images.

This offer is simply too good to refuse. From a very reputed developer with an extremely good track record and did few finished projects.

Park Royal 3 Pratumnak 45 Sqm 1 Bed room Condo only 1.29 Million Baht (best offer in the market)

Park Royal Pratumnak 35 Sqm Studio Condo only 1.6 Million Baht

Club Royal in exclusive Wongamat Beach area 33 Sqm Condo only 1.85 Milllion Baht

This is a limited offer and if you contact us you can make a reservation to get this special price. We have an extremely good relationship with the developer so let us know if you want to a make an early reservation before you miss the boat.

To me, these numbers only have meaning if they in fact reflect the world wide down turn and the current inventory glut.

Pakboong

I don't quite follow your point here...

To update the posting by Benchmark I can advise you that Park Royal 3 has sold over 40% within 2 weeks from breaking ground. The project was officially launched only yesterday.

Regards

Robert

According to international property analysts, the outlook for Thailand's, and in particular Pattaya's, property market will continue to grow, especially in the residential housing and condominium building sector. Asian Property Development's chief executive officer said that among the many factors supporting the continuing growth of the residential building sector and why Thailand will become so attractive to investors, is because half the world's population lives in Asia - that is, China, India, Vietnam, Thailand and Indonesia. This is a vast, untapped market with a massive potential for growth.

Thailand is one of the best countries in Asia to invest in property in. There is no inheritance or gift tax, capital gains are considered income and are charged at the standard tax rate and foreigners can buy condominiums freehold. There are other ways for foreigners to invest in property, but purchasing a condominium is by far the easiest way

[donx]

Thanks for the info.

It looks like the Thai government is going to extend the promotion of reduced rates of transfer fees and taxes for buying property. I copied the following post from another thread, author's name is "Bendix".

It hasn't been publicly announced yet, but today the Thai cabinet approved a revised tax package which is designed to give the real estate industry a significant boost by cutting the taxes and fees paid on real estate transactions.

The new rulings - needing royal assent, and subject to being implemented at a yet to be decided date - can be summarised as follows:

1 The reduction of the Specific Business Tax for the sale of real property from 3% to 0.1% of the selling price or the official assessed price, whichever is higher. (the period for this package is one year from the effectiveness of the royal decree to implement this tax reduction);

2. The reduction of the Registration Fee for the registration of the "sale" of real property at the Land Office from 2% to 0.01% of the official assessed price for the sale of:

(i) land, building, or land with building according to the Land Subdivision for Sale law (กฎหมายจัดสรรที่ดิน);

(ii) condominium unit, detached house, townhouse or commercial building

(iii) office building or land with office building

3. the reduction of the Registration Fee for the registration of the "mortgage" of real property at the Land Office from 1% to 0.01% of the official assessed price for the mortgage of

(i) land, building, or land with building according to the Land Subdivision for Sale law (กฎหมายจัดสรรที่ดิน);

(ii) condominium unit, detached house, townhouse or commercial building.

benchmark,

You need to be more careful. You are unintensionally spreading rumors. The post that you are referring to from bendix was written 2008-03-04!

Unless anyone else has any other information, the tax reduction is scheduled to expire in March 2010.

[benchmark]

Thanks for the info.

It looks like the Thai government is going to extend the promotion of reduced rates of transfer fees and taxes for buying property. I copied the following post from another thread, author's name is "Bendix".

It hasn't been publicly announced yet, but today the Thai cabinet approved a revised tax package which is designed to give the real estate industry a significant boost by cutting the taxes and fees paid on real estate transactions.

The new rulings - needing royal assent, and subject to being implemented at a yet to be decided date - can be summarised as follows:

1 The reduction of the Specific Business Tax for the sale of real property from 3% to 0.1% of the selling price or the official assessed price, whichever is higher. (the period for this package is one year from the effectiveness of the royal decree to implement this tax reduction);

2. The reduction of the Registration Fee for the registration of the "sale" of real property at the Land Office from 2% to 0.01% of the official assessed price for the sale of:

(i) land, building, or land with building according to the Land Subdivision for Sale law (กฎหมายจัดสรรที่ดิน);

(ii) condominium unit, detached house, townhouse or commercial building

(iii) office building or land with office building

3. the reduction of the Registration Fee for the registration of the "mortgage" of real property at the Land Office from 1% to 0.01% of the official assessed price for the mortgage of

(i) land, building, or land with building according to the Land Subdivision for Sale law (กฎหมายจัดสรรที่ดิน);

(ii) condominium unit, detached house, townhouse or commercial building.

benchmark,

You need to be more careful. You are unintensionally spreading rumors. The post that you are referring to from bendix was written 2008-03-04!

Unless anyone else has any other information, the tax reduction is scheduled to expire in March 2010.

Hi Donx, yes I do apologize. It is a mistake and I thought it was a recent post.

So please ignore the post of "Bendix".

I will post information on this topic if I get some solid update from a reliable source.

Once again I do apologize if I stired things up.

Edited November 25, 2009 by benchmark

[loquent]

Sure, I will post some photos from the real showrooms tomorrow or day after. They are much better than the graphic design images.

This offer is simply too good to refuse. From a very reputed developer with an extremely good track record and did few finished projects.

Park Royal 3 Pratumnak 45 Sqm 1 Bed room Condo only 1.29 Million Baht (best offer in the market)

Park Royal Pratumnak 35 Sqm Studio Condo only 1.6 Million Baht

Club Royal in exclusive Wongamat Beach area 33 Sqm Condo only 1.85 Milllion Baht

This is a limited offer and if you contact us you can make a reservation to get this special price. We have an extremely good relationship with the developer so let us know if you want to a make an early reservation before you miss the boat.

To me, these numbers only have meaning if they in fact reflect the world wide down turn and the current inventory glut.

I found a very helpful agency to help me through all the difficulties of buying like searching, and financing and furnishing. It all made my head spin but then these wonderful people just stepped in and made my dreams come true. It was marvellous. I can't thank all those sincere and caring, considerate and understanding Beachmark Staff. They are Gods! Saints amongst us unworthy sinners. I

I now have the condo of my dreams just off Soi Siam Country Club with a view of the sea as promised! yes, up on the roof, balanced on the top rung of the ladder, the towering condo nect door fails to block out a postage stamp sized view of a patch of gray they call the sea. Can you believe it?

And my 32 sq m condo at only 42k baht per sq. m and measuring an actual total of 23.5 when you've taken out the balcony, toilet and falng kitchen. That's the same as a Thai kitchen without walls by the way. I feel as though I've won life's lottery. And I only paid 3 million deposit with the rest on finance at 325% per year for the next 177 years.

Beachmark - the people you can truss.

[pkrv]

Sure, I will post some photos from the real showrooms tomorrow or day after. They are much better than the graphic design images.

This offer is simply too good to refuse. From a very reputed developer with an extremely good track record and did few finished projects.

Park Royal 3 Pratumnak 45 Sqm 1 Bed room Condo only 1.29 Million Baht (best offer in the market)

Park Royal Pratumnak 35 Sqm Studio Condo only 1.6 Million Baht

Club Royal in exclusive Wongamat Beach area 33 Sqm Condo only 1.85 Milllion Baht

This is a limited offer and if you contact us you can make a reservation to get this special price. We have an extremely good relationship with the developer so let us know if you want to a make an early reservation before you miss the boat.

To me, these numbers only have meaning if they in fact reflect the world wide down turn and the current inventory glut.

I found a very helpful agency to help me through all the difficulties of buying like searching, and financing and furnishing. It all made my head spin but then these wonderful people just stepped in and made my dreams come true. It was marvellous. I can't thank all those sincere and caring, considerate and understanding Beachmark Staff. They are Gods! Saints amongst us unworthy sinners. I

I now have the condo of my dreams just off Soi Siam Country Club with a view of the sea as promised! yes, up on the roof, balanced on the top rung of the ladder, the towering condo nect door fails to block out a postage stamp sized view of a patch of gray they call the sea. Can you believe it?

And my 32 sq m condo at only 42k baht per sq. m and measuring an actual total of 23.5 when you've taken out the balcony, toilet and falng kitchen. That's the same as a Thai kitchen without walls by the way. I feel as though I've won life's lottery. And I only paid 3 million deposit with the rest on finance at 325% per year for the next 177 years.

Beachmark - the people you can truss.

A rather bitter reply to the purchase of a 32 sq m condo, size 23.5 sqm, yet you understand the size of a postage stamp. You may however have inadvertently confused some newbies - you cannot finance a Farang quota condominium in Thailand - your 325% per year fee for the finance for the next 177 years would have had to be sourced, in your case probably from your home country, at a guess in the west.

Farangs must bring in funds from overseas to purchase a Farang quota condominium.

Edited November 26, 2009 by pkrv

[doggie888888]

Club Royal in exclusive Wongamat Beach area 33 Sqm Condo only 1.85 Milllion Baht

Does this development have beach acess? The maps/pics seem to indicate so but when you visit the site, the beach access is blocked off andappears to have been blocked for a long time.

[benchmark]

Club Royal in exclusive Wongamat Beach area 33 Sqm Condo only 1.85 Milllion Baht

Does this development have beach acess? The maps/pics seem to indicate so but when you visit the site, the beach access is blocked off andappears to have been blocked for a long time.

Yes, Wongamat beach is only a stone throw away from the project although the project is located about 200m from the beach. As you may know Wongamat beach is a long strip of beach so access to beach should not be in issue here. I did not quite figure out what you said by the "beach access is blocked off" because the project is not right on the beach anyway.

But how ever I will investigate more and let you know more regarding beach access.

[doggie888888]

The beach access they promote is the one right at the end of Soi 12...and if that were used, Club Royal would be a whole lot more attractive. Since this particular access is blocked off; just go and see, it's the lane between two private properties right at the end of Soi 12 and so overgrown you can hardly see it last time I looked, then Club Royal is not an attractive development because you have to walk quite a long way around the back streets to Soi 16 (!!!) before you hit the beach. That's a good 15 minutes walk in the heat. The Sanctuary development opposite Club Royal , is a far superior development because it has beach frontage and direct beach access of its own.

I wonder if Club Roya will insist to City Council to open up that public beach access that I refer to at end of SOi 12 because this would make the beach VERY near and accessible to Club Royal...but I think the property owners at end of Soi12 are influential enough to keep the riff raff from using this beach access.

[benchmark]

The beach access they promote is the one right at the end of Soi 12...and if that were used, Club Royal would be a whole lot more attractive. Since this particular access is blocked off; just go and see, it's the lane between two private properties right at the end of Soi 12 and so overgrown you can hardly see it last time I looked, then Club Royal is not an attractive development because you have to walk quite a long way around the back streets to Soi 16 (!!!) before you hit the beach. That's a good 15 minutes walk in the heat. The Sanctuary development opposite Club Royal , is a far superior development because it has beach frontage and direct beach access of its own.

I wonder if Club Roya will insist to City Council to open up that public beach access that I refer to at end of SOi 12 because this would make the beach VERY near and accessible to Club Royal...but I think the property owners at end of Soi12 are influential enough to keep the riff raff from using this beach access.

Yes you are correct about the beach access being blocked. The beach there is not really a usable beach I guess? Club Royal is much cheaper than the Sanctuary so not everyone can afford to buy in Sanctuary although it is a very attractive condo project. How ever the usable beach is the Wongamat beach which is a short walk from the condo. Club Royal will still offer nice sea views over the Sanctuary of truth so that will attract many clients.

[benchmark]

Sure, I will post some photos from the real showrooms tomorrow or day after. They are much better than the graphic design images.

This offer is simply too good to refuse. From a very reputed developer with an extremely good track record and did few finished projects.

Park Royal 3 Pratumnak 45 Sqm 1 Bed room Condo only 1.29 Million Baht (best offer in the market)

Park Royal Pratumnak 35 Sqm Studio Condo only 1.6 Million Baht

Club Royal in exclusive Wongamat Beach area 33 Sqm Condo only 1.85 Milllion Baht

This is a limited offer and if you contact us you can make a reservation to get this special price. We have an extremely good relationship with the developer so let us know if you want to a make an early reservation before you miss the boat.

To me, these numbers only have meaning if they in fact reflect the world wide down turn and the current inventory glut.

Pakboong

I don't quite follow your point here...

To update the posting by Benchmark I can advise you that Park Royal 3 has sold over 40% within 2 weeks from breaking ground. The project was officially launched only yesterday.

Regards

Robert

I personally think Pattaya's peak potential is yet to come. Given the right political climate and indications of global economic recovery there are tons of Western buyers who want a piece of this paradise. I think we have passed the worst time of the global recession so it won't be that long for things to turn around in this market. Condo market for example is showing early recovery signs now.

"Be greedy when others are fearful" , happy home hunting.............

[lopburi3]

thread closed