Arguments Against Buying A Condo?

[elektrified]

^

Nor do I but some people like condos. I don't understand demanding "western standard" in Southeast Asia.

Me neither. If I wanted "western standard", then I would have stayed in Europe where I was living before I moved here.

[hagler]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Because not all people want a house and garden . Simple really. I own condos in Singapore, KL and Tokyo and will be looking at some in CM in September. I dont live full time in any of the locations and so want something I can "lock, leave and forget". Even my "home base" in Australia although as big as a "house" is an apartment. I have numerous "house and land" investments with tenants in them but would never live in one as I don't have the time or inclination to be looking after yards and gardens and dont wont to think about them when I not there.

[tigerbalm]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Because not all people want a house and garden . Simple really. I own condos in Singapore, KL and Tokyo and will be looking at some in CM in September. I dont live full time in any of the locations and so want something I can "lock, leave and forget". Even my "home base" in Australia although as big as a "house" is an apartment. I have numerous "house and land" investments with tenants in them but would never live in one as I don't have the time or inclination to be looking after yards and gardens and dont wont to think about them when I not there.

Very true what you say, every time i go away it is a real pain trying to find some one reliable to water the plants and feed the cats.it is one of th draw backs of living in a house when you want to go away.

[sarahsbloke]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Because not all people want a house and garden . Simple really. I own condos in Singapore, KL and Tokyo and will be looking at some in CM in September. I dont live full time in any of the locations and so want something I can "lock, leave and forget". Even my "home base" in Australia although as big as a "house" is an apartment. I have numerous "house and land" investments with tenants in them but would never live in one as I don't have the time or inclination to be looking after yards and gardens and dont wont to think about them when I not there.

Very true what you say, every time i go away it is a real pain trying to find some one reliable to water the plants and feed the cats.it is one of th draw backs of living in a house when you want to go away.

I just pretend the garden doesn't exist, once a year a guy gets 500bht to cut the jungle back.

Same as a condo, but without the management fees.

I don't understand why anyone lives in a condo either!

1 room condo 5500bht/month

3 bedroom house 7000bht/month

(comparing my last condo with my existing house)

[tigerbalm]

I've looked at plenty of 6-10,000 baht houses and would choose a condo every day. But I never looked more than 5km from the city center. Some people just want to live closer to town. I've lived in both condos and houses. I live in a house now, close to the city and pay a lot more than 6,000 baht. But I have the money. The OP probably does too. I don't see why that's so difficult for some (Electrified and Sarah'sB) to understand.

Back to the OP's question (renting vs buying a condo):

You can't just take the money you spend on rent and say that's thrown away money.

What no one has mentioned in doing the math is the lost investment costs if you buy a condo. A 3.5 mil baht condo should rent for about 20,000 baht per month. If you don't buy that condo you have 3.5 mil to invest. If you earn 6.86% on your investments, long term, then you would earn 20,000 baht per month on average and might be better off renting than buying. You would probably need an even lower return after you take into account management fees, taxes, and closing costs on the purchase and sale of your condo. Of course, if you think you can make a profit buying and selling your condo that's a different story. But no one here has said there's a good likelihood of a profit.

So buy a condo and save on the 20k rent or

invest your money and rake in 20k a month... which will pay your condo rent

This sounds like same same but different to me, but i see where your coming from..i think.

[ableguy]

If my house were a condo, it would probably set me back 25k a month. As it's a house, it costs me 8k, with the added bonus that I pay government rates for water and electric, have a large garden and can choose a decent internet service provider instead of putting up with the generally appalling internet in condo blocks. And I get a garden, with 5 large trees and two lawns. And I can't hear my neighbours. And I can park my car outside my front door.

The main downside of buying a condo is you might have to live in it. House all the way.

good post, I live in Hua Hin in a lovely 2 bed house garden etc , cost 10,000 a month.

[Token]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Better security, often more central location, free gym, fewer kids/animals - seems like good reasons to me.

[jayinoz]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Better security, often more central location, free gym, fewer kids/animals - seems like good reasons to me.

Which Condos have the gym already included in per month price. As Hillside, etc ask for huge fees to join up- just a small discount for those whom rent in the building...

It annoys me when I am quoted say 15000bt then I hear it is extra for this and that- when they make believe that it is all inclusive at the start. Not until you are signing the rental contract do you find out that it cost another few K to have access to all the facilities. Discloser is lacking with some Condos- IMO.

Houses are good value in CMai, yet some of us prefer Condos to have access to everything centrally. Plus some Condos are European standard, whereas the cheaper houses often are not. Negatives in Condos is electricity is often a rip off and supposed facilities you must pay extra. Some charge as much as 10bt per unit, when the actual cost is 3.5bt per unit. When you use approx 350 units pm like me then it costs as much as some pay for a cheap room. 5bt per unit is fair, 100bt for water is fair, Internet, gym, pool, etc should all be inclusive when the Condo price is quoted IMO. Everything except maid and laundry services.

Another added benefit in the better Condos is that you often feel like you are getting 5 star service and attention for a reasonable price. Some quite good Condos around for approx. 15K bt pm, yet gyms, internet, etc are often an extra charge. Ask and read rental contract before you commit is my recommendation.

Cheers

[CobraSnakeNecktie]

The Hillside gym is about 6000 baht a year if your a renter and 5000 a year if your an owner. No joining fee. It's dirt cheap really. Works out to 500 baht a month to use a gym, sauna, steam room and the pool. They even provide clean towels.

[tigerbalm]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Better security, often more central location, free gym, fewer kids/animals - seems like good reasons to me.

Which Condos have the gym already included in per month price. As Hillside, etc ask for huge fees to join up- just a small discount for those whom rent in the building...

It annoys me when I am quoted say 15000bt then I hear it is extra for this and that- when they make believe that it is all inclusive at the start. Not until you are signing the rental contract do you find out that it cost another few K to have access to all the facilities. Discloser is lacking with some Condos- IMO.

Houses are good value in CMai, yet some of us prefer Condos to have access to everything centrally. Plus some Condos are European standard, whereas the cheaper houses often are not. Negatives in Condos is electricity is often a rip off and supposed facilities you must pay extra. Some charge as much as 10bt per unit, when the actual cost is 3.5bt per unit. When you use approx 350 units pm like me then it costs as much as some pay for a cheap room. 5bt per unit is fair, 100bt for water is fair, Internet, gym, pool, etc should all be inclusive when the Condo price is quoted IMO. Everything except maid and laundry services.

Another added benefit in the better Condos is that you often feel like you are getting 5 star service and attention for a reasonable price. Some quite good Condos around for approx. 15K bt pm, yet gyms, internet, etc are often an extra charge. Ask and read rental contract before you commit is my recommendation.

Cheers

What do you mean European standard ?

[doppa]

i havnt read through all the replies, so apologies if i'm repeating some advice.

regardless of everything else, ask yourself the following.

can i afford to lose whatever money i spend on an appt./ house/ condo in thailand

if the answer is yes, go ahead, if you hesitated for more than 3 seconds don't do it.

[el jefe]

The Hillside gym is about 6000 baht a year if your a renter and 5000 a year if your an owner. No joining fee. It's dirt cheap really. Works out to 500 baht a month to use a gym, sauna, steam room and the pool. They even provide clean towels.

You pay too much for your dirt.

I rent, but not at Hillside, and I paid 3750 for an annual membership.

[jayinoz]

The Hillside gym is about 6000 baht a year if your a renter and 5000 a year if your an owner. No joining fee. It's dirt cheap really. Works out to 500 baht a month to use a gym, sauna, steam room and the pool. They even provide clean towels.

You pay too much for your dirt.

I rent, but not at Hillside, and I paid 3750 for an annual membership.

Californa WOW offers lifetime membership for 9900bt if u negoitate hard... U need to state a friend has that same deal and you not interested unless get the same deal- as it will be unfair to you. Lifetime meaning you only pay 100bt pa after the first year for LIFE... Good deal if you long term stayer in CMai. So that the same as 1.5 years at Hillside and you need to be a renter or owner at Hillside. Hillside should do a similar deal.

Plus the amount of gear at Californa WOW is far more than any mortal man or women would need. Yet they do try on sell extras like kick box and 1 on 1 classes. So they should if you wish for it.

The 3750bt pa membership is good if the place is comparable to Hillside or Californa WOW.

[jayinoz]

Euro standard means comparable to good Condos in your homeland. Most of the newer Condo complexes are comparable to good complexes in US, Aussie, Euro. That is all it means... 4 star + standard.

Hillside has 45 sq unfurnished places going from 10K bt now, yet you need to pay for all the extras- Plus 45 sq metres is a little small. I saw 90 sq advertised in a Hillside type Condo advertised for 16K bt pm- that is a bargain for 4 to 5 star quality condo.

As more desperate to rent out during low season, sign up for min 6 months- great deal. Or 12 months to lock in the price.

You cannot compare the 5 star like Condos to the 5000 bt pm 2 stars all over CMai in my opinion. If you need to save $400 pm then go for a 2 star quality. If not go for a 5 star life style. As CMai is one of the cheapest places in Asia where you can get a 5 star place for this sort of price.

People talk about the best cost of living cities in the world. More to the point what are the cities whom have a 5 star quality life style for an affordable price. CMai is one of these rare cities. IMO. :jap:

[tigerbalm]

Euro standard means comparable to good Condos in your homeland. Most of the newer Condo complexes are comparable to good complexes in US, Aussie, Euro. That is all it means... 4 star + standard.

Hillside has 45 sq unfurnished places going from 10K bt now, yet you need to pay for all the extras- Plus 45 sq metres is a little small. I saw 90 sq advertised in a Hillside type Condo advertised for 16K bt pm- that is a bargain for 4 to 5 star quality condo.

As more desperate to rent out during low season, sign up for min 6 months- great deal. Or 12 months to lock in the price.

You cannot compare the 5 star like Condos to the 5000 bt pm 2 stars all over CMai in my opinion. If you need to save $400 pm then go for a 2 star quality. If not go for a 5 star life style. As CMai is one of the cheapest places in Asia where you can get a 5 star place for this sort of price.

People talk about the best cost of living cities in the world. More to the point what are the cities whom have a 5 star quality life style for an affordable price. CMai is one of these rare cities. IMO. :jap:

Understood.

I would imagine this also applies to Houses as well.

Regards

TB

[jayinoz]

Euro standard means comparable to good Condos in your homeland. Most of the newer Condo complexes are comparable to good complexes in US, Aussie, Euro. That is all it means... 4 star + standard.

Hillside has 45 sq unfurnished places going from 10K bt now, yet you need to pay for all the extras- Plus 45 sq metres is a little small. I saw 90 sq advertised in a Hillside type Condo advertised for 16K bt pm- that is a bargain for 4 to 5 star quality condo.

As more desperate to rent out during low season, sign up for min 6 months- great deal. Or 12 months to lock in the price.

You cannot compare the 5 star like Condos to the 5000 bt pm 2 stars all over CMai in my opinion. If you need to save $400 pm then go for a 2 star quality. If not go for a 5 star life style. As CMai is one of the cheapest places in Asia where you can get a 5 star place for this sort of price.

People talk about the best cost of living cities in the world. More to the point what are the cities whom have a 5 star quality life style for an affordable price. CMai is one of these rare cities. IMO. :jap:

Understood.

I would imagine this also applies to Houses as well.

Regards

TB

For sure- differing locations and quality of house makes a large different to price as with anywhere else in the world.

I guess the point I am trying to make is there are not many cities in Asia where you can get a 5 star quality Condo or home for some of the prices you see around CMai now.

Of course you need to look around and simply accept that if you just walk into a complex a premium may TRY to be applied to you- as you Farang. Yet in general 5 star Condo have more of a Set price than homes in CMai.

Yet everything is negoitable. I have seen some guys paying 50% more in the same Condo complex for a similar Condo. It not standard however. Most are within 10-20% of each other. Some get a better than average deal due to knowing the owner, etc.

[CobraSnakeNecktie]

The Hillside gym is about 6000 baht a year if your a renter and 5000 a year if your an owner. No joining fee. It's dirt cheap really. Works out to 500 baht a month to use a gym, sauna, steam room and the pool. They even provide clean towels.

You pay too much for your dirt.

I rent, but not at Hillside, and I paid 3750 for an annual membership.

That's just what they quoted me a while back. I don't work out there. I have my own setup with kettlebells, free weights and fit balls etc. I mostly do martial arts drills etc.

Glad you got a good deal there but it's one of those you get what you paid for kind of deals.

[Andreas84]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Many gave good replies to this question already. For myself location and standard are good reasons, plus less maintenance/things to look after etc.

When it comes to location, it is good for me to stay in the Huay Kaew or Nimmanhemin area, as there is walking distance to many facilities, and easy to get hold of a song thaew to go elsewhere. I also use TukTuk sometimes. As I do not have driver licence for a car, and I am not comfortable enough with the traffic here to drive a motorcycle, it is pretty much a must to live in a central location.

As was mentioned, there is a huge difference in quality between many of the cheap condos and most houses, and the "4-5 star" condos on the other hand. CM seems to be one of the few places where this standard can be had for an affordable price, but I would be happy to know if the same applies to other places in Asia. In example, in the metropolitan university city Pune of India, there seems to be much less availability of "5 star condos" than here, and if you find it, it would not surprise me if it costs more than here. Which is strange, really....

[jayinoz]

I don't understand why anyone would pay 25,000 THB for a condo when for 6,000 you can have your own private house with a garden.

Many gave good replies to this question already. For myself location and standard are good reasons, plus less maintenance/things to look after etc. When it comes to location, it is good for me to stay in the Huay Kaew or Nimmanhemin area, as there is walking distance to many facilities, and easy to get hold of a song thaew to go elsewhere. I also use TukTuk sometimes. As I do not have driver licence for a car, and I am not comfortable enough with the traffic here to drive a motorcycle, it is pretty much a must to live in a central location. As was mentioned, there is a huge difference in quality between many of the cheap condos and most houses, and the "4-5 star" condos on the other hand. CM seems to be one of the few places where this standard can be had for an affordable price, but I would be happy to know if the same applies to other places in Asia. In example, in the metropolitan university city Pune of India, there seems to be much less availability of "5 star condos" than here, and if you find it, it would not surprise me if it costs more than here. Which is strange, really....

Yes everyone has differing priorities and it is interesting to hear from those whom wish for an afforable high standard of living. Others need to live off a tighter budget, yet still get most of what they need. This just goes to show you that whether your accommodation budget is less than 5000bt pm or 50000bt pm for a Condo. There are a great deal of options for the majority of us regardless of our budget. Many great deals out there- especially now. Investment wise- yields on good quality Condos can be very good, yet you need to keep the Condo occupied. Plus you have a higher level of sovereign risk than developed countries. Yet it is a relatively safe developing country, risk wise. Yields on houses are very low in comparision. Plus we cannot legally own a house anyway. Yes there are ways- yet triple the soverign risk if you do. With most houses getting less than 4% yield trying to own a house is not worth the risk IMO. Condo is worth the moderate risk, if you here for the long term. Yet ultimately depends on the deal. Good Luck to the OP- did you purchase the Condo? :jap:

[ChiangMaiFun]

I own several condos in CM and here are the reasons why if anyone is interested in my experience:

Plus's

• I live in one - central, well renovated (by me) and secure - good services
• I own the title (Chanod)
• I receive about 8% return on the condos I rent out (net) 9/10% gross (deducting common area fees etc.)
• None are empty - fingers crossed!
• I receive income in 'local' currency - no exchange rate fees/no ATMs - this saving in addition to the returns quoted

Minus's

• condo management can be 'ify'
• condo politics
• maybe a risk of no renters (not so far!)
• have to spend time marketing
• have to pay agents commissions
• no or very little capital growth - expect to break-even - I do it for revenue not capital but do make profit on my own renovations
• selling takes a lot of time and patience

My view is save the rent and buy - prices are keen - why pay 25,000 (300,000) a year when you outlay 3m? it's 10% down the drain - room pays for itself in 10 years - each year you reduce your capital expenditure by 10% so first year 2.7 etc. etc. after 10 years it's cost you NOTHING - sound like a good plan?

I have made some mistakes and bought 2 or 3 when I first came here - overpaid - dont trust agents evaluations. I offloaded one at a 200,000 loss but this was my stupidity - won't happen again. Now I understand more and happy to own my 'home' - it also 'feels' nicer than renting and I can put my own pictures up etc. you can't own a house, of course, unless you get married - no intention of that!

Go slow, be wise... take your time and buy - that's what I did (missed out some of the 'wise' and 'slow' part when I first got here) - but now it's fine with my local income, good farang tenants - and happy lifestyle.

[CobraSnakeNecktie]

are you declaring the full rental income and paying taxes? My guess is not. Probably get away with it but if they ever decide to crack down all the due taxes, interest and penalties could completely change that equation.

Or am I missing something?

[ChiangMaiFun]

are you declaring the full rental income and paying taxes? My guess is not. Probably get away with it but if they ever decide to crack down all the due taxes, interest and penalties could completely change that equation.

Or am I missing something?

If they do that half the Thai nation would have a problem as many, many rent out and do not pay tax etc. same thing as if they crack down on the taxes when you buy a condo - they are losing billions, literally, by undervaluing condo purchase prices - knowingly - they won't tackle it as there would be uproar and most of them do it themselves TIT!

There are a hundered and one things here that could change - no one knows the future - my guess is if they cracked down it would not be retrospective but a new tightening going forward. Who knows? hasn't happened in the last 20 years that a farang friend of mine has been doing it - hopefully another 20 to go - but, technically, you are right - but if we followed that logic we would never do anything including coming here to live - maybe one day they will throw all foreigners out? who knows?

Don't let that if,if,if thing stop you doing things - as I have demonstrated in 10 years it pays for itself - worth the chance in my opinion.

[ataloss]

2 bedroom house with nice lawn, big garden, in my Mooban, 6000bht a month asking, 20km from CM, 25mins to town centre, no takers.Plenty of other properties 2 bed -6000 upto 4 bed 10000, nobody wants em.If you buy anything at the moment you are taking a big risk, property prices are going down.

Just rent.

Too True,because as mentioned earlier,'First of all Thai's as a whole do not buy used housing'(condo or houses). I am not convinced housing and condo prices are going down: They by and large have not. Just scan the realty sites targeting farangs, let alone the Thai sites; there are thousands upon thousands with hardly a bite. I keep noticing farangs still trying to sell their mansions as 'just listed' having been on the market for years and years.'Just listed', possibly on another realty site. 'Caveat emptor'!

[CobraSnakeNecktie]

you use the word logic and then break the first fallacy of logic.

This fallacy involves the attempt to justify a wrong action by pointing to another wrong action. Sure many people are breaking the law so its okay. That is one of the first lessons your parents teach you not to fall into. Very basic.

Your logic boils down to it's necessary to break the law to undertake investment opportunities. Your calling that valid logic?

The question becomes are their investments that return equal rates of return without the risk of breaking the legal rules? Yes of course.

If they did crack down at some point then would one expect them to nail foreigners without citizenship rights or Thai citizens? I am guessing non citizens. What if you make an enemy and some bureaucrat decides to put the screws to you? It's a potential liability no doubt that could compromise your ROE, equity and even legal right to be in Thailand.

Sure it's the corrupt way of Thailand but it's worth taking in that it's against the law and some people do pay their legal share of the taxes.

[ChiangMaiFun]

you use the word logic and then break the first fallacy of logic.

This fallacy involves the attempt to justify a wrong action by pointing to another wrong action. Sure many people are breaking the law so its okay. That is one of the first lessons your parents teach you not to fall into. Very basic.

Your logic boils down to it's necessary to break the law to undertake investment opportunities. Your calling that valid logic?

The question becomes are their investments that return equal rates of return without the risk of breaking the legal rules? Yes of course.

If they did crack down at some point then would one expect them to nail foreigners without citizenship rights or Thai citizens? I am guessing non citizens. What if you make an enemy and some bureaucrat decides to put the screws to you? It's a potential liability no doubt that could compromise your ROE, equity and even legal right to be in Thailand.

Sure it's the corrupt way of Thailand but it's worth taking in that it's against the law and some people do pay their legal share of the taxes.

oh goodie - a flamer just what I needed - I post some useful info to help someone and BANG off you go - I wonder why I bother - havn't you got something to add? something positive to help people? you don't think my post was constructive and useful? you think flaming a poster who is trying to help a positive contribution? get a life

[amexpat]

"Thai's as a whole do not buy used housing'(condo or houses)."

I've heard that a few times. So I wonder about all the not-new dwellings. Are they really inhabited by the original owners, or renters, or falang? There sure are a lot of them.

Just wondering.

[CobraSnakeNecktie]

you use the word logic and then break the first fallacy of logic.

This fallacy involves the attempt to justify a wrong action by pointing to another wrong action. Sure many people are breaking the law so its okay. That is one of the first lessons your parents teach you not to fall into. Very basic.

Your logic boils down to it's necessary to break the law to undertake investment opportunities. Your calling that valid logic?

The question becomes are their investments that return equal rates of return without the risk of breaking the legal rules? Yes of course.

If they did crack down at some point then would one expect them to nail foreigners without citizenship rights or Thai citizens? I am guessing non citizens. What if you make an enemy and some bureaucrat decides to put the screws to you? It's a potential liability no doubt that could compromise your ROE, equity and even legal right to be in Thailand.

Sure it's the corrupt way of Thailand but it's worth taking in that it's against the law and some people do pay their legal share of the taxes.

oh goodie - a flamer just what I needed - I post some useful info to help someone and BANG off you go - I wonder why I bother - havn't you got something to add? something positive to help people? you don't think my post was constructive and useful? you think flaming a poster who is trying to help a positive contribution? get a life

Dude you can't cry flame if your advocating breaking the law. It's even against forum rules.

Your "useful" information of 8 to 9% returns was leaving out a major detail. Not entirely useful.

Your using no logic. Just rationalizing your behavior.

[witold]

What if you can't sell your condo after 3 years and what if you sell or rent it in Thai Baht won't you lose money afterall because of the exchange rate Baht to Euro or any other currency ?

You can sell almost every condo and house in a matter of days. It comes down to price. The reason why some of the farang owned stuff is sitting on the market for years and years is because they are delusional in thinking they can get their stated price. If you price it reasonably, it will sell. If you price is attractively, it will get multiple offers and sell in a week.

Is a house better than a condo? Of course! But it comes down to prices again. If you compare the same locations, condos are a lot cheaper. Stop comparing inner moat condo to some almost-rural house 25km outside CM. Instead, compare that inner moat condo to inner moat house.

[jayinoz]

you use the word logic and then break the first fallacy of logic.

This fallacy involves the attempt to justify a wrong action by pointing to another wrong action. Sure many people are breaking the law so its okay. That is one of the first lessons your parents teach you not to fall into. Very basic.

Your logic boils down to it's necessary to break the law to undertake investment opportunities. Your calling that valid logic?

The question becomes are their investments that return equal rates of return without the risk of breaking the legal rules? Yes of course.

If they did crack down at some point then would one expect them to nail foreigners without citizenship rights or Thai citizens? I am guessing non citizens. What if you make an enemy and some bureaucrat decides to put the screws to you? It's a potential liability no doubt that could compromise your ROE, equity and even legal right to be in Thailand.

Sure it's the corrupt way of Thailand but it's worth taking in that it's against the law and some people do pay their legal share of the taxes.

oh goodie - a flamer just what I needed - I post some useful info to help someone and BANG off you go - I wonder why I bother - havn't you got something to add? something positive to help people? you don't think my post was constructive and useful? you think flaming a poster who is trying to help a positive contribution? get a life

Well I got good value out of your post... there is always a few that will find something negative to state if they think you are ahead of the game. Yes why bother when some Farangs will try tear your post down and flame your efforts... Yer right all Thais pay taxes on their rentals- Come on- dream on. Anyway even if claiming deduct all airfares and anything related to rented out the Condo. 99% would not be paying tax on renting out their Condos- IMO.

Keep any gains you are making low profile I have learnt as the No 1 rule in investing in Thailand- as there are always some Farangs and Thais that will be jealous and tear you down to make themselves feel better... Some not all. In our homeland we do all we can to avoid paying tax, nothing is different here. Why give away money for nothing.

You deserve 8% for all your risk and effort- Good work. Hope you make over 10% in the future. In a lot safer than betting on the worldwide stock market at the moment. Bricks and mortar investments make you feel more secure. Good part of anyones portfolio. I have a Condo in Aussie and I negative gear the expenses, claim all I can to pay basically no tax- what is the difference- none. This is not a Thai Law Taxation thread. It is a Investing in Condos in CMai thread. Is it worth the effort? In many cases the answer is YES. Outperforms many other investments and makes the owner feel better.

I for one look forward to Posts from investors- as should others. Some do not seem to accept that a few make a good living in Thailand. As they cannot. :jap:

Edited July 5, 2010 by jayinoz

[CobraSnakeNecktie]

how about calculating return after good faith calculation of tax liability?

If a person can pay a minimum tax that would stand up to official scrutiny then that seems like fair game.

I do know my Thai landlord is very concerned about tax liabilities. When I needed to get a written lease to take to immigration for a certificate of residency, my landlord nearly passed a proverbial brick because he worried the lease would be made part of the record. He ended up writing a lease amount which was under 50% of what I am actually paying.

Maybe tax evasion of rental income is no big deal here. I am definitely no expert on that. As a non citizen do I really want to risk it?