Sale Of Condo

[yabaaaa]

I bought some new condos way back in april 2006 and I have an opportunity to sell some of them now, I vaguely remember is it 5 years from purchase you dont have to pay so much tax on selling??? ie your not seen as a property developer or something??

Anyone know? if thats the case I will delay my sale until early next year when the 5 years is up unless its 6-7-8-9 etc.

Details

Purchased in Thai nationals name April 2006 name in blue book of thai national a s living there price paid 1.2million baht in 2006

Sale price approx 1.65-7 million baht 2010

Probable sale this year or may delay to april 2011 depedning on tax allowance (if any)

Edited June 24, 2010 by yabaaaa

[liveinlos]

There is a flood of Condos on the market in 2010

You may not be able to sell them at all in this market

[hhgz]

Regardless of liveinlos's analysis of the BKK real estate market, the following URL will assist you in the calculation of real estate tax:

Thai Real Estate Sales Tax

[yabaaaa]

There is a flood of Condos on the market in 2010

You may not be able to sell them at all in this market

I already have a buyer its confrimed he will pay cash if I sell now or in 6 months he will still buy it, do not think this is a "maybe" sale it isnt.

[yabaaaa]

Regardless of liveinlos's analysis of the BKK real estate market, the following URL will assist you in the calculation of real estate tax:

Thai Real Estate Sales Tax

Yes thanks for that already seen this page in a previous search, just put in all the figures looks like 35000 in tax so thats not so bad. SOLD

As for the awash with condos for sale comment well its just goes to show there are some buyers who want what your selling. Ill post the papers when its all done later his year.

Personally I find the BKK market quite good at the moment,I have had 5 units full and still full for 4 years.

Edited June 24, 2010 by yabaaaa

[trogers]

There is a flood of Condos on the market in 2010

You may not be able to sell them at all in this market

These statements are too general. Not all condos are equal, either in location, quality or acquired prices.

As an example, a 2-bedroom unit in Avenue 61 (located inside Sukhumvit 61) was launched in Aug 2003 at less than Bt60k/m2 and prices during transfer of units from developer to buyers in Oct 2005 were around Bt68k/m2. Units were bought and sold at peak prices of Bt95-98k/m2 around mid-2007. If you set a sales price below Bt85k/m2 today, I am sure you can still find a few interested parties.

The same cannot be said of units booked in 2007-2008 and transferred in 2009 to the present. They were booked at peak prices and not many owners will want to take a 20% cut in acquisition prices, nor buyers wanting to take them over at their original peak prices.

[yabaaaa]

There is a flood of Condos on the market in 2010

You may not be able to sell them at all in this market

These statements are too general. Not all condos are equal, either in location, quality or acquired prices.

As an example, a 2-bedroom unit in Avenue 61 (located inside Sukhumvit 61) was launched in Aug 2003 at less than Bt60k/m2 and prices during transfer of units from developer to buyers in Oct 2005 were around Bt68k/m2. Units were bought and sold at peak prices of Bt95-98k/m2 around mid-2007. If you set a sales price below Bt85k/m2 today, I am sure you can still find a few interested parties.

The same cannot be said of units booked in 2007-2008 and transferred in 2009 to the present. They were booked at peak prices and not many owners will want to take a 20% cut in acquisition prices, nor buyers wanting to take them over at their original peak prices.

Yes this is the case with one of my condos , bought when the £ was at 72 baht and in 2005 at 1.1 million, re selling at 1.7 million which is still cheaper than a new one close by of similar size at 2.1m upwards for 30m2.

It also backs onto a river (not canal) so it wont have its view blocked.