Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[bunpan]

Wow, I wasn't expecting so many posts! Whoever mentioned that oversupply of houses couldn't cause the Phuket housing market to overheat is of course correct. Judging by the changing demographics of the place, I'm guessing that wealthy Asian and Eastern European buyers are keeping the high end of the market afloat. There were loads of empty low-end properties all through the last "high-season", and I'm guessing these places are due a big dip in the next year or two - I don't want my friend getting in at the top.

The prices seem far more sane in Pattaya - I'm sure he would rent for a couple of months before making any decisions anyway, he used to be an estate agent so he's familiar with the house price lottery.

650K baht really does sound cheap for a decent flat - at those prices I think I might have to spend a few weeks in Pattaya to check the place out, I'm getting a bit fed up of paying the Phuket premium prices for everything.

[Thaifan2]

>>650K baht really does sound cheap for a decent flat - <<

That was at Jomtien Beach Condo ,on Jomtien beach .A great complex with 2 huge pools ,2 gyms and many shops and restaurants .The Complex has good security and management unlike many others .

The cheap Condos there will have no view though and will be facing another condo block .They are also quite small at 30 sqm .They make a cheap way of getting on the property ladder in a decent complex though .

[Online]

Wow, I wasn't expecting so many posts! Whoever mentioned that oversupply of houses couldn't cause the Phuket housing market to overheat is of course correct. Judging by the changing demographics of the place, I'm guessing that wealthy Asian and Eastern European buyers are keeping the high end of the market afloat. There were loads of empty low-end properties all through the last "high-season", and I'm guessing these places are due a big dip in the next year or two - I don't want my friend getting in at the top.

The prices seem far more sane in Pattaya - I'm sure he would rent for a couple of months before making any decisions anyway, he used to be an estate agent so he's familiar with the house price lottery.

650K baht really does sound cheap for a decent flat - at those prices I think I might have to spend a few weeks in Pattaya to check the place out, I'm getting a bit fed up of paying the Phuket premium prices for everything.

Tell him to also have a look around View Talay 1, more money but larger 2 Bedroom 64m units at 1.5m similar to this

[Thaifan2]

Wow, I wasn't expecting so many posts! Whoever mentioned that oversupply of houses couldn't cause the Phuket housing market to overheat is of course correct. Judging by the changing demographics of the place, I'm guessing that wealthy Asian and Eastern European buyers are keeping the high end of the market afloat. There were loads of empty low-end properties all through the last "high-season", and I'm guessing these places are due a big dip in the next year or two - I don't want my friend getting in at the top.

The prices seem far more sane in Pattaya - I'm sure he would rent for a couple of months before making any decisions anyway, he used to be an estate agent so he's familiar with the house price lottery.

650K baht really does sound cheap for a decent flat - at those prices I think I might have to spend a few weeks in Pattaya to check the place out, I'm getting a bit fed up of paying the Phuket premium prices for everything.

Tell him to also have a look around View Talay 1, more money but larger 2 Bedroom 64m units at 1.5m similar to this

Its 1.8 M not 1.5 M .He already came down from 2.2 M so i dont think you would get it for less than 1.7 M .Would be great value at that price ,even at 1.8 M .

[Darrel]

Its 1.8 M not 1.5 M .He already came down from 2.2 M so i dont think you would get it for less than 1.7 M .Would be great value at that price ,even at 1.8 M .

I didn't notice anything saying that it is in farang name.

Given the reductions, I suspect that it isn't.

Personally I wouldn't buy in Thai or company name at any price.

It is also on a low floor. I viewed a similar VT1 unit on a much higher floor in farang name for 2M.

Edited October 25, 2011 by Darrel

[Thaifan2]

Its 1.8 M not 1.5 M .He already came down from 2.2 M so i dont think you would get it for less than 1.7 M .Would be great value at that price ,even at 1.8 M .

I didn't notice anything saying that it is in farang name.

Given the reductions, I suspect that it isn't.

Personally I wouldn't buy in Thai or company name at any price.

It is also on a low floor. I viewed a similar VT1 unit on a much higher floor in farang name for 2M.

I was taking it for granted it was in a foreign name .If a foreign person sells its usually in a FN .If not i would not touch it myself .

[Darrel]

In my modest experience with private ads and agents' websites in Pattaya, if it doesn't actually say "farang name" then it probably isn't.

The ads that especially amuse me are the ones that say "includes company" as though it was some sort of bonus, like free peanuts with a beer.

[balo]

Yes its very important to check its in foreign name before you decide to buy.

I paid around 200k extra for the condo I bought in my name. Will save you a lot of trouble later.

[poanoi]

Wouldn't that company also solve the visa hell ?

[kanderson]

Its 1.8 M not 1.5 M .He already came down from 2.2 M so i dont think you would get it for less than 1.7 M .Would be great value at that price ,even at 1.8 M .

I didn't notice anything saying that it is in farang name.

Given the reductions, I suspect that it isn't.

Personally I wouldn't buy in Thai or company name at any price.

It is also on a low floor. I viewed a similar VT1 unit on a much higher floor in farang name for 2M.

1.8 mil seems a little low - maybe Thai owner, otherwise looks like a nice deal. VT 1 is a place I like to be. very relaxing and very quite and cheap. Never had any problem with neighbor noise etc..

Lower floors are not so bad and often cooler. I take the stairs up one floor and never use the lift. I've stayed on high floors - don't really care. I like the vibe there at VT1 .

For me, I'd buy on the Jomtien side as then you have the option of satallite dish on your balcony. The Saphon cable isn't too bad though I guess (and really cheap).

Easy ASDL connection etc.. My unit pays just under 6,000 Bt per year mantainance fee.

Anyone can "test drive" VT1 as their are rentals always available by the week or month (maybe booked now with all the flooding in BK).

Lunch by the pool is very good. Small super market open 24 hours just outside the gate carries everything a falang could want. Easy songtow (10 baht bus)access to anywhere (like cheaper shoping).

Even walking street is just 10 minutes via baht bus

Dongton Beach and Jomtien oceanfront strip are quite nice IMO. My favorite is the huge bbq shrimp - better than lobster.

[Online]

Its 1.8 M not 1.5 M .He already came down from 2.2 M so i dont think you would get it for less than 1.7 M .Would be great value at that price ,even at 1.8 M .

I didn't notice anything saying that it is in farang name.

Given the reductions, I suspect that it isn't.

Personally I wouldn't buy in Thai or company name at any price.

It is also on a low floor. I viewed a similar VT1 unit on a much higher floor in farang name for 2M.

My favorite is the huge bbq shrimp - better than lobster.

Essential only to buy in Farang name imho also oh and your making me hungry!

Edited October 27, 2011 by Online

[PattayaParent]

Wow, I wasn't expecting so many posts! Whoever mentioned that oversupply of houses couldn't cause the Phuket housing market to overheat is of course correct. Judging by the changing demographics of the place, I'm guessing that wealthy Asian and Eastern European buyers are keeping the high end of the market afloat. There were loads of empty low-end properties all through the last "high-season", and I'm guessing these places are due a big dip in the next year or two - I don't want my friend getting in at the top.

The prices seem far more sane in Pattaya - I'm sure he would rent for a couple of months before making any decisions anyway, he used to be an estate agent so he's familiar with the house price lottery.

650K baht really does sound cheap for a decent flat - at those prices I think I might have to spend a few weeks in Pattaya to check the place out, I'm getting a bit fed up of paying the Phuket premium prices for everything.

Tell him to also have a look around View Talay 1, more money but larger 2 Bedroom 64m units at 1.5m similar to this

Its 1.8 M not 1.5 M .He already came down from 2.2 M so i dont think you would get it for less than 1.7 M .Would be great value at that price ,even at 1.8 M .

It also says 2 bedrooms which it isn't, it's 2 units = 1 bedroom.

[TJo]

>>650K baht really does sound cheap for a decent flat - <<

That was at Jomtien Beach Condo ,on Jomtien beach .A great complex with 2 huge pools ,2 gyms and many shops and restaurants .The Complex has good security and management unlike many others .

The cheap Condos there will have no view though and will be facing another condo block .They are also quite small at 30 sqm .They make a cheap way of getting on the property ladder in a decent complex though .

IMO there is no property ladder in Thailand for farangs. In a property ladder you buy a cheap place, save a bit, sell it and move to a more expensive place and so on. Here, you buy and keep. Re-sale is next to impossible due to oversupply and deterioration.

[balo]

IMO there is no property ladder in Thailand for farangs. In a property ladder you buy a cheap place, save a bit, sell it and move to a more expensive place and so on. Here, you buy and keep. Re-sale is next to impossible due to oversupply and deterioration.

I do not agree , it all depends on the location and the market available .

The Jomtien area will still be a popular destination for tourists and expats , and the smaller apartments is not too difficult to sell or rent out.

After all 1.5 mill baht is not a lot of money for a westerner looking for a second home , some of them stay in Thailand maybe 6 months each year.

Edited October 27, 2011 by balo

[Online]

IMO there is no property ladder in Thailand for farangs. In a property ladder you buy a cheap place, save a bit, sell it and move to a more expensive place and so on. Here, you buy and keep. Re-sale is next to impossible due to oversupply and deterioration.

I understand where you are coming from, it is possible to find bargains here, save a little, sell and move up onto a larger/more expensive place and continue to do so, I think the main difficulties are finding the right bargain in the right location and suiting it to the right market!

[morphic]

My advice to buying a condo in Pattaya....don't do it unless you find something extremely special and at a bargain basement price.

I have seen property in lots of countries, the US, UK, Singapore, Indonesia and across Europe and I can tell you that most of the property in Thailand is of amazingly poor quality. Only in Thailand do I see such thin walls, such primitive plumbing, such poor foundations, such dangerous and amateur electrics, such cheap and nasty fixtures and fittings etc etc. Every resale property I have viewed in Thailand has idssappointed me, they all suffer from the same trashy and cheap construction, the same toilety smell due to bad plumbing, the same long dark corridors with flickering lights. And as for new property, they "newness" premium is ridiculous and as nice and shiny as they look when less than a year old, they will soon deteriorate untuil after a short time they are just as bad as the rest.

When you buy property in Thailand, especially Pattaya, you are just taking on a big liability and headache and making the developers even more obscenely rich than they are already.

And one more thing, as if it isn't obvious...don't believe a word the agents say and don't believe a word the seller says aboput how wonderful their little shoe box blah blah blah.

[Darrel]

Indeed. Seriously overpriced and seriously low quality are the bywords for resales here. Sometimes I wonder if people working with used Thai property have ever seen used property in other countries.

As for new places, a lot (all?) of the "newness premium" goes in commission to agents and intermediaries and managers and other assorted do-nothings. This can easily amount to 10% in total. The advertising budget is probably another 10% or more.

And please dont get me started on laminate flooring and what it's going to look like after 18 months' wear.

[Banzai99]

Will the Bangkok floods bolster the Pattaya condo market ?

[Online]

Will the Bangkok floods bolster the Pattaya condo market ?

Optimistic view would be the market activity is increased interest from higher influx of visitors to Pattaya, however I notice that with the Bangkok floods, people seem to have less interest in general buying.

[rgs2001uk]

Always be aware of any vacant lots that are close to the unit. The poor sods next to the Hilton found that out the hard way. I do recall that some people recently lost their view/privacy in Jomtien.

Cant remember the name of the building concerned, what was the name of the complex where the owners were trying to sue for loss of their view?

This was a couple of years ago, wonder if their case ever made it to the courts, somehow I doubt it, how can you own a view, was it on your chanot, what was the cost per t/w for your view?

You can only laugh at how gullible some are.

[Darrel]

Cant remember the name of the building concerned, what was the name of the complex where the owners were trying to sue for loss of their view?

Sounds like the Jomtien Complex/VT7 saga.

[whitethai]

Paradise Park.

It will be ready in the end of 2012 .

or 2013, or ...

Experience in Pattaya shows you can never know when a condo will be finish.

Thats why people would be better of buying in Park Lane ( next to Paradise Park )which is finished and you will know exactly what you are getting .

How much are those condos at Park Lane? Any website for info?