New Samui Condos For Sale

[greg71]

Hi and welcome im aussie guy living in bkk having just returned from koh samui from a much needed break ,after riding around the island i saw those ads for cheap condos at <nameremoved> a steal rate of 728000b is this a scam ?seems too good to be true as most places i saw advertised were at double that rate .thoughts and opinions much appreciated .-- Cheers -Greg

Edited January 19, 2011 by metisdead
Name removed

[greg71]

Sorry for adding the name of the project ,i was in no way trying to advertise etc etc .Just thought due to huge billboards around the island i wouldnt be breaking any rules,again my apologies --Greg

[limbos]

Sounds like a steal indeed but maybe check first what the monthly maintenance fees are.

Sounds too good to be true indeed, I've noticed the signs as well and wonder if something's hidden here.

[greg71]

going by a email from the assistant sale manager 35 baht per sq metre 500 baht per sq for the sinking fund

the unit seem small at 26 sq and also have to buy a furniture package at 200000 b so brings the price up to 928000 plus the adde expenses

still seem ok as well as chanote title

[Pilchard]

All the good view units are sold out, this is either great pre luanch sales or a way of holding back the good stuff untill the build begins and prices can be increased.

(Foriengers can only have 40% of the project for condo status if i remember rightly ?)

26 sq meters is very small.

Add a bed and bathroom and it's basically a very small hotel room and not my idea of a condo.

That said, I've friends who have purchesd similar units in HuaHin and are very happy as the unit size and price suits their purpose as a holiday apparment for weekends etc

Value is how much someone is willing to pay I guess

[Wellington]

All the good view units are sold out, this is either great pre luanch sales or a way of holding back the good stuff untill the build begins and prices can be increased.

(Foriengers can only have 40% of the project for condo status if i remember rightly ?)

26 sq meters is very small.

Add a bed and bathroom and it's basically a very small hotel room and not my idea of a condo.

That said, I've friends who have purchesd similar units in HuaHin and are very happy as the unit size and price suits their purpose as a holiday apparment for weekends etc

Value is how much someone is willing to pay I guess

Not much room to swing a cat.

[itishothere]

26m is small, but if laid out isn't too bad. I know 2 people who live together in one that size. The service charge sounds reasonable (depending on facilities obviously) as does the sinking fund.

To get something of that size at that price (for a falang) sounds like a good deal to me ..... I would check the small print carefully to be safe!

[screamingeagle]

As my grandmother used to say, "If it's too good to be true, then it is!"

[joe84330]

26sq.m. is a cell. have you seen the actual individual chanotes? i know first hand that bigger, nicer, beach front "condos" that have sold units and not been able to produce individual chanote deeds for the buyers. the land office here does not like condos. i know people that have paid millions of baht under the table in order to encourage and speed along the condo process and were left empty handed.

[Pilchard]

26sq.m. is a cell. have you seen the actual individual chanotes? i know first hand that bigger, nicer, beach front "condos" that have sold units and not been able to produce individual chanote deeds for the buyers. the land office here does not like condos. i know people that have paid millions of baht under the table in order to encourage and speed along the condo process and were left empty handed.

Have to agree with you about the size, not my idea of a long term living space.

To be fair to the developer there is an explanation of the condo/deed procedure printed at the bottom of the large bill board on the site.

More upfront info than i've ever seen before on a samui project of any kind.

How accurate it is I have no idea

[joe84330]

26sq.m. is a cell. have you seen the actual individual chanotes? i know first hand that bigger, nicer, beach front "condos" that have sold units and not been able to produce individual chanote deeds for the buyers. the land office here does not like condos. i know people that have paid millions of baht under the table in order to encourage and speed along the condo process and were left empty handed.

Have to agree with you about the size, not my idea of a long term living space.

To be fair to the developer there is an explanation of the condo/deed procedure printed at the bottom of the large bill board on the site.

More upfront info than i've ever seen before on a samui project of any kind.

How accurate it is I have no idea

well i hope it is a success for them and a nice place to live for the inmates haha. samui needs a few successful projects to get back on track.

[ESB7]

Im all for buying as believe rent is wasted money but a 26sqm room and almost a million Baht all in......not much of a steal when you can rent a nice 1/2 bed bungalow for 6-8k a month

[happyfish88]

Im all for buying as believe rent is wasted money but a 26sqm room and almost a million Baht all in......not much of a steal when you can rent a nice 1/2 bed bungalow for 6-8k a month

Care to share the place interested to know more, thanx.:jap:

[Hooters]

this is not a condo. The min std size for a condo is 35sqm IMO

this is a motel room

[starcandle]

going by a email from the assistant sale manager 35 baht per sq metre 500 baht per sq for the sinking fund

the unit seem small at 26 sq and also have to buy a furniture package at 200000 b so brings the price up to 928000 plus the adde expenses

still seem ok as well as chanote title

I would check the Chanote bit,,, I was unaware that a chanote was available on a condo.

[joe84330]

going by a email from the assistant sale manager 35 baht per sq metre 500 baht per sq for the sinking fund

the unit seem small at 26 sq and also have to buy a furniture package at 200000 b so brings the price up to 928000 plus the adde expenses

still seem ok as well as chanote title

I would check the Chanote bit,,, I was unaware that a chanote was available on a condo.

of course you can get a chanote on a condo, that's the whole selling point for foreigners. the entire condo building is literally chopped up into separate chanote's. thais must own 51% and foreigners can own up to 49%.

[starcandle]

going by a email from the assistant sale manager 35 baht per sq metre 500 baht per sq for the sinking fund

the unit seem small at 26 sq and also have to buy a furniture package at 200000 b so brings the price up to 928000 plus the adde expenses

still seem ok as well as chanote title

I would check the Chanote bit,,, I was unaware that a chanote was available on a condo.

of course you can get a chanote on a condo, that's the whole selling point for foreigners. the entire condo building is literally chopped up into separate chanote's. thais must own 51% and foreigners can own up to 49%.

I stand corrected !

[BigC]

How could anyone tell if this is a scam unless the person who was selling the condo was to say so.

Unless someone has bought one and been scammed.

It is just hear say.

There is no reason why a condo here could not be worth that amount. It might be small there might be many condos in 1 building so the owner can make their money back.

It might not include air con or furniture.

It might be allot of things.

If you are interested. Go have a look. If you are even further interested then seek a good lawyer.

then if u r happy or no then make a choice.

but to come on here and say. " i sore a condo for sale , somewhere for X amount. Is this a scam?"

i think only you can answer that

That is like someone saying has anyone seen my dog it is a black one

[BigC]

going by a email from the assistant sale manager 35 baht per sq metre 500 baht per sq for the sinking fund

the unit seem small at 26 sq and also have to buy a furniture package at 200000 b so brings the price up to 928000 plus the adde expenses

still seem ok as well as chanote title

I would check the Chanote bit,,, I was unaware that a chanote was available on a condo.

r u sure u can get a chanote on a condo. yes the building area can have a chanote but i am sure u cannot get a chonte from a peice of a building.

You can own 100 per cent of the x % example 5 per cent of the building but i do not know what sort of paper work you could get with that. maybe i am wrong i might have to chekc with the land office.

Chanote is for sub dividing land not building space.

I am sure but not not 100 percent sire that the ownership is passed over by contract and your name would be in the chanote paper that is owned by the building.

i shall look into this maybe a google search can correct things

[Japhrodisiac]

When you receive a condo title, it is a Chanote. The Chanote is for your apt size ie 35sqm. The condo titles are all produced on the same day, at building completion, the land office converts the main land chanote into many small chanotes as mentioned. If there are presales then the titles will be issued in the name of the buyer, if not, then the developer or company will own them until transfer. You cannot have any land title prior to building completion and issuance of condo titles. I have seen the process and seen the titles, not for this project, bot others.

[BigC]

When you receive a condo title, it is a Chanote. The Chanote is for your apt size ie 35sqm. The condo titles are all produced on the same day, at building completion, the land office converts the main land chanote into many small chanotes as mentioned. If there are presales then the titles will be issued in the name of the buyer, if not, then the developer or company will own them until transfer. You cannot have any land title prior to building completion and issuance of condo titles. I have seen the process and seen the titles, not for this project, bot others.

can the chanotes be in the forang's name?

[joe84330]

When you receive a condo title, it is a Chanote. The Chanote is for your apt size ie 35sqm. The condo titles are all produced on the same day, at building completion, the land office converts the main land chanote into many small chanotes as mentioned. If there are presales then the titles will be issued in the name of the buyer, if not, then the developer or company will own them until transfer. You cannot have any land title prior to building completion and issuance of condo titles. I have seen the process and seen the titles, not for this project, bot others.

can the chanotes be in the forang's name?

yes of course. this is the only acceptable ownership available to a foreigner here.

[Tropicalevo]

Sorry to be dim, but I am struggling to visualise this one.

So we have 4 stories with four apartments on each story. Do they put the chanote pegs on top of each other?

[joe84330]

Sorry to be dim, but I am struggling to visualise this one.

So we have 4 stories with four apartments on each story. Do they put the chanote pegs on top of each other?

well now this is going to get confusing. condos and apartments are not the same thing in thailand.

[Tropicalevo]

Sorry to be dim, but I am struggling to visualise this one.

So we have 4 stories with four apartments on each story. Do they put the chanote pegs on top of each other?

well now this is going to get confusing. condos and apartments are not the same thing in thailand.

Ah yes - I see the confusion. A few hundred meters from where I live - some condos are being built. Two story duplexes. (easy to put in the chanote.) A kilometer from where I live, some condos have just been finished. Four storeys!

So - how do they add the chanote pegs to the multiple storey building after it is finished?

[BigC]

Sorry to be dim, but I am struggling to visualise this one.

So we have 4 stories with four apartments on each story. Do they put the chanote pegs on top of each other?

well now this is going to get confusing. condos and apartments are not the same thing in thailand.

Ah yes - I see the confusion. A few hundred meters from where I live - some condos are being built. Two story duplexes. (easy to put in the chanote.) A kilometer from where I live, some condos have just been finished. Four storeys!

So - how do they add the chanote pegs to the multiple storey building after it is finished?

i think there could be sme truth in this chanote thing though i would have to check properly if i was to buy 1. i know that the build needs a condominium liscence to build a condominum.

maybe with this liscence comes specail powers such as different chanote rights

i should really do a google search though i am not that bother because i not going to buy a condo any time soon

[Japhrodisiac]

When you receive a condo title, it is a Chanote. The Chanote is for your apt size ie 35sqm. The condo titles are all produced on the same day, at building completion, the land office converts the main land chanote into many small chanotes as mentioned. If there are presales then the titles will be issued in the name of the buyer, if not, then the developer or company will own them until transfer. You cannot have any land title prior to building completion and issuance of condo titles. I have seen the process and seen the titles, not for this project, bot others.

can the chanotes be in the forang's name?

Yes, but only up to 49% of the total area of the building (not number of units) can be owned by foreigners. This is to prevent foreign ownership of a building in it's entirety. Therefore, a foreigner who buys the 220sqm penthouse may prevent a number of small units going to foreigners later. This gets really tricky and almost unenforceable when you get down the line a few years in resales. A private resale from a Thai to a foreigner I suppose could be blocked at the land office because the ratio would go over 49%. I've never seen it happen, but it could. The condo laws were really conceived for Bangkok to allow for foreign workers to own something, and the majority are Thai buyers anyway. They have proved problematic in the holiday markets where foreign buyers make up a much higher percentage. Typically, the Thai authorities have done nothing to address the problem, and developers sell the half the units quickly then get bogged down being unable to transfer the last 51% outside of Bangkok and Pattaya.

[Japhrodisiac]

Sorry to be dim, but I am struggling to visualise this one.

So we have 4 stories with four apartments on each story. Do they put the chanote pegs on top of each other?

well now this is going to get confusing. condos and apartments are not the same thing in thailand.

Ah yes - I see the confusion. A few hundred meters from where I live - some condos are being built. Two story duplexes. (easy to put in the chanote.) A kilometer from where I live, some condos have just been finished. Four storeys!

So - how do they add the chanote pegs to the multiple storey building after it is finished?

i think there could be sme truth in this chanote thing though i would have to check properly if i was to buy 1. i know that the build needs a condominium liscence to build a condominum.

maybe with this liscence comes specail powers such as different chanote rights

i should really do a google search though i am not that bother because i not going to buy a condo any time soon

The condo license proces goes like this - The developer applies to the land office and tessabaan for a condo permit for the development. After checking zoning allowances etc, they are granted the initial ok to build a condo there. Their building permit will say condominium on it. However, this does not guarantee that it will receive a condo license upon completion, as there has to be an inspection by the land office to confirm compliance of all the condominium specific criteria - height restrictions, fire escapes, ceiling height, width of hallways etc. If the project passes inspection, then the land title is converted to individual condo titles. Note how many stages are required for authorities to stamp approval or deny this process, lots of opportunity for cash grabs here. There has been a bit of an urban myth about the land office in Samui not allowing condos. They are permitted, but no one built one until the Casavela (now Shasa Hotel) project was started, this was only a few years back, and was the 1st condo title granted on Samui, ever. The land office simply did not know what to do with it. A crew apparently was sent down from Bangkok to instruct the Samui LO and Tessabaan accordingly.