New Draconian Property Law To Deport Foreigners Who "Owns" Land Illegally

[Jessi]

"The new law includes a reward to anyone providing information about foreigners owning land through nominees. They will get 20% of the market price of that piece of land as a reward after the plot is sold," he said at a seminar on foreign property ownership yesterday held by the Thai Appraisal Foundation.

Thai people will give up their own mother in a heart beat, they will have a field day with this one.

[Rimmer]

Inflammatory post and quoted reply removed

[cheeryble]

"The new law includes a reward to anyone providing information about foreigners owning land through nominees. They will get 20% of the market price of that piece of land as a reward after the plot is sold," he said at a seminar on foreign property ownership yesterday held by the Thai Appraisal Foundation.

Thai people will give up their own mother in a heart beat, they will have a field day with this one.

At the moment if someone skirts the law and is found out the place goes on the market and he gets the sale price back.

If a wife puts the screws on them people have even been known to shop themselves "oh sorry think she and the lawyer misled me", the transaction is annulled, the wife owns nothing, and they get their money back.

For this proposal to happen it would have to become a confiscation rather than an annulment, and without a confiscation there's be no 20% which is a number I assume he pulled out of his ass.

Don't forget it's not just farang involved......they're just a side-issue......it's the Thai "nominees" who are not nominees until that's proven in court. There would have to be a lengthy and very strict process to extract big assets from Thai citizens who, along with their farang partners are going to have so much at risk they will presumably put lawyers to defend the case.

Can you imagine the legal cases they'd get tangled up in the Land Depts won't know if they're brushing their teeth or having a shit.

At the same time the country will be full of very angry Thai voters (and big landowners like, oh yes, the PM's brother) who have just seen juicy land prices gone forever.

This dog won't run.

Edited July 9, 2012 by cheeryble

[osiboy]

The most senseless comment yet - unless you are joking of course.

Can you please explain to me why a Thai can buy land in the UK, but UK citizens can't buy land here?

This should not be illegal in the first place. Allow foreigners to buy land in Thailand, but put a limit on how muuch they can buy. Then everybody's happy.

This is the one instance that I wish I had some kind of influence over David Cameron. I would love to see the look on Hi-so Thais' faces if the a UK law came in to stop Thais buying ouur land, unless they change their laws. Som-num-naa!!

"Will there be any land left for our Thai children?"

Definitely not if the foreigners are allowed to take the land back to their countries. More laws are badly needed and rewards should be as big as half of the land being taken away!

There'd be an outcry and huge long winded court battles in the UK if we suddenly forced all foreign land owners to sell up or be deported.

not bothered about 'other' foriegners, would just love to see the thais being 'picked on'' for a change , they have it all there own way , why euro gov;ts dont respond is beyond me , who do they represent ?

[TommoPhysicist]

yes but there is something nice about doing your own thing to your own home...especially if have kids...additions, etc and decorating inside etc.....also the ongoing peaceful feel of your own home and you can be there until you wish to move or sell...rather than at someone elses orders....and then there is the issue with fixing shit etc.

You can add and adapt a rented home.

If you buy in Thailand you can only be there until your wife wishes you to move.

So you are still under someone else's orders, your wifes.

[samsiam]

yes but there is something nice about doing your own thing to your own home...especially if have kids...additions, etc and decorating inside etc.....also the ongoing peaceful feel of your own home and you can be there until you wish to move or sell...rather than at someone elses orders....and then there is the issue with fixing shit etc.

You can add and adapt a rented home.

If you buy in Thailand you can only be there until your wife wishes you to move.

So you are still under someone else's orders, your wifes.

perhaps in your situation.

I would never consider adding an extra bedroom to a rented house.

[yoshiwara]

Whether a proposal from this 'ombudsman' is enacted or not, a part of the price of owning a property through a nominee company is the continual uncertainty and element of risk attached to such a purchase. It might be discarded but it cannot be disregarded.

After many, many years of visiting, and now living in Thailand, nothing would ever make me buy property here.

I fail to understand why ANY farang would do so, unless it's the beer goggles, or lust for a woman that demands it.

I have asked many guys this question and it is always shrugged off. Includes the 'wise' who do not think they are wearing goggles and are first in line to point out others who do.

[Naam]

Is it less of a home if it's rented?

Not all places cost a lot. I stayed in a nice enough place for 5,000 a month till last year, when we moved to the village, and that was definitely cheap living.

of course it is less a home! anyway, people who rent "nice enough" homes for 5,000 Baht / month should not participate in discussions "rent or buy".

yes, i know i'm arrogant; no need to tell me. but at least i'm honest and speak out what i think without beating around the bush.

[Darrel]

of course it is less a home! anyway, people who rent "nice enough" homes for 5,000 Baht / month should not participate in discussions "rent or buy".

What nonsense!

A home is a home, regardless of whether it is an owned palace or a rented dog kennel.

One could be renting a decent house out in the sticks for 5KB/month and at the same time own a similar place near the beach here or in another country that brings in 10 times that in rental. Or indeed be renting whilst looking to buy. Or renting because the interest earned from the deposited purchase price more than covers the monthly rental. Or renting because one doesn't intend staying long for various reasons. And why shouldn't those people participate in a discussion about "rent or buy"?

yes, i know i'm arrogant

Indeed you are. I am too for that matter. But in this instance you are being arrogant and stupid and as such should probably not participate in any discussion about any subject at all.

Edited July 11, 2012 by Darrel

[PattayaPhom]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

[thaibeachlovers]

of course it is less a home! anyway, people who rent "nice enough" homes for 5,000 Baht / month should not participate in discussions "rent or buy".

What nonsense!

A home is a home, regardless of whether it is an owned palace or a rented dog kennel.

One could be renting a decent house out in the sticks for 5KB/month and at the same time own a similar place near the beach here or in another country that brings in 10 times that in rental. Or indeed be renting whilst looking to buy. Or renting because the interest earned from the deposited purchase price more than covers the monthly rental. Or renting because one doesn't intend staying long for various reasons. And why shouldn't those people participate in a discussion about "rent or buy"?

yes, i know i'm arrogant

Indeed you are. I am too for that matter. But in this instance you are being arrogant and stupid and as such should probably not participate in any discussion about any subject at all.

Thank you Darrel. Yes, it was indeed "home" to my wife and I. I still miss it, as we had a good life while there.

[RogueLeader]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Stop paying the mortgage and see who the condo really belongs to.

[cockerdoodledo]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

How much you lost since buying it? 50% 60% 70% go on give us a clue,maybe all as virtually impossible to sell a house

Had to put the smiley in goes with yours

Edited July 12, 2012 by cockerdoodledo

[PattayaPhom]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

How much you lost since buying it? 50% 60% 70% go on give us a clue,maybe all as virtually impossible to sell a house

Had to put the smiley in goes with yours

Without having to pen a massive reply that you wouldnt really take notice of it dosnt matter. Maybe you and your barfly freinds have lost a packet but fact is many people have made money on their HOME rather than paying rent to landlords. As I live less than a few hundred yards from the beach in a 3 bed house on almost a Rai rent would be at least 30K long term in advance and more like 45k, that equates to approx 3 million baht in the years I have been there. As I bought and built at cost I have done very well thankyou. Less than 2 months ago I was offered 13.5 Million but refused as it is my HOME and not for sale at any price

[cockerdoodledo]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

How much you lost since buying it? 50% 60% 70% go on give us a clue,maybe all as virtually impossible to sell a house

Had to put the smiley in goes with yours

Without having to pen a massive reply that you wouldnt really take notice of it dosnt matter. Maybe you and your barfly freinds have lost a packet but fact is many people have made money on their HOME rather than paying rent to landlords. As I live less than a few hundred yards from the beach in a 3 bed house on almost a Rai rent would be at least 30K long term in advance and more like 45k, that equates to approx 3 million baht in the years I have been there. As I bought and built at cost I have done very well thankyou. Less than 2 months ago I was offered 13.5 Million but refused as it is my HOME and not for sale at any price

Perhaps your barfly friends in a stupor who have never had a packet to lose LOL may have offered you 50 million plus,but how is this? according to reports a foreigner now cannot sell (or buy) using company route,unless it was your boyfriend/girlfriend you bought it through....do not believe a Thai would have offered you anything,so your whatever is your prison,me? rather be flight of foot,who knows what is the thinking behind govt plans

Again forgot that smiley,

oh! forgot this thread is about draconian rules deporting foreigners buying through illegal routes perhaps as you say you will never sell,just a boot up your arse,red stamp in passport and booted out,tell you what,Ill give you 50 baht for it,how about it?.

Edited July 12, 2012 by cockerdoodledo

[PattayaPhom]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

How much you lost since buying it? 50% 60% 70% go on give us a clue,maybe all as virtually impossible to sell a house

Had to put the smiley in goes with yours

Without having to pen a massive reply that you wouldnt really take notice of it dosnt matter. Maybe you and your barfly freinds have lost a packet but fact is many people have made money on their HOME rather than paying rent to landlords. As I live less than a few hundred yards from the beach in a 3 bed house on almost a Rai rent would be at least 30K long term in advance and more like 45k, that equates to approx 3 million baht in the years I have been there. As I bought and built at cost I have done very well thankyou. Less than 2 months ago I was offered 13.5 Million but refused as it is my HOME and not for sale at any price

Perhaps your barfly friends in a stupor who have never had a packet to lose LOL may have offered you 50 million plus,but how is this? according to reports a foreigner now cannot sell (or buy) using company route,unless it was your boyfriend/girlfriend you bought it through....do not believe a Thai would have offered you anything,so your whatever is your prison,me? rather be flight of foot,who knows what is the thinking behind govt plans

Again forgot that smiley,

oh! forgot this thread is about draconian rules deporting foreigners buying through illegal routes perhaps as you say you will never sell,just a boot up your arse,red stamp in passport and booted out,tell you what,Ill give you 50 baht for it,how about it?.

Good for you, just shows how little you know assuming a Thai would not offer anything. Shout up yourselfe another Archa or even a Chang if your flush

[TommoPhysicist]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Only if you are too stupid to learn how to invest.

[impulse]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Yes, and so is the interest on a mortgage.

And so is the loss of investment earnings from that money that's tied up in the home you, the bank and the wife own.

And so is the money spent in closing on a real estate purchase.

And so is the money you spend to maintain all the crap the landlord would take care of- if you rented.

Home ownership can be a great way to accumulate some "wealth", especially if you don't have the discipline to save and invest.

But it's not the answer for everyone, especially in today's portable (and disposable) employee world.

And that's not even factoring in the risks of owning property through loopholes that can be closed retroactively.

Edited July 12, 2012 by impulse

[cheeryble]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Only if you are too stupid to learn how to invest.

Well, if you buy instead of rent you're essentially a perfect 12-month-per-year tenant saving yourself in the region of 5% to 10%pa on your outlay in rent, with the capital outlay being hedged against inflation.

As a pretty savvy investor I'd love to know where I can invest at that return Tommo.

I'm serious......I have a few hundred grand I'd like to get (5 to 10%) + say 5% inflation, so 10 to 15% on

If you could reply in some detail I'd be truly grateful (12.5% will do nicely thankyou!)

In anticipation and gratitude,

Cheeryble

Edited July 12, 2012 by cheeryble

[manarak]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Only if you are too stupid to learn how to invest.

Well, if you buy instead of rent you're essentially a perfect 12-month-per-year tenant saving yourself in the region of 5% to 10%pa on your outlay in rent, with the capital outlay being hedged against inflation.

As a pretty savvy investor I'd love to know where I can invest at that return Tommo.

I'm serious......I have a few hundred grand I'd like to get (5 to 10%) + say 5% inflation, so 10 to 15% on

If you could reply in some detail I'd be truly grateful (12.5% will do nicely thankyou!)

In anticipation and gratitude,

Cheeryble

interesting questions!

[PattayaPhom]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Yes, and so is the interest on a mortgage.

And so is the loss of investment earnings from that money that's tied up in the home you, the bank and the wife own.

And so is the money spent in closing on a real estate purchase.

And so is the money you spend to maintain all the crap the landlord would take care of- if you rented.

Home ownership can be a great way to accumulate some "wealth", especially if you don't have the discipline to save and invest.

But it's not the answer for everyone, especially in today's portable (and disposable) employee world.

And that's not even factoring in the risks of owning property through loopholes that can be closed retroactively.

I received a very good XE rate when I built and the 2.5% interest that would be payable per month on that now at 48 Baht-Sterling would not be enough to rent a decent house here. As for ownership,there are other means apart from company set ups. Buying dosnt suit everyone but for me and many others has proved to be a cheap way of having luxury living, its just a shame that so many people are bitter that they missed the boat and now cant afford to buy as they do not have sufficient funds to purchase anywhere.

[cockerdoodledo]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Yes, and so is the interest on a mortgage.

And so is the loss of investment earnings from that money that's tied up in the home you, the bank and the wife own.

And so is the money spent in closing on a real estate purchase.

And so is the money you spend to maintain all the crap the landlord would take care of- if you rented.

Home ownership can be a great way to accumulate some "wealth", especially if you don't have the discipline to save and invest.

But it's not the answer for everyone, especially in today's portable (and disposable) employee world.

And that's not even factoring in the risks of owning property through loopholes that can be closed retroactively.

I received a very good XE rate when I built and the 2.5% interest that would be payable per month on that now at 48 Baht-Sterling would not be enough to rent a decent house here. As for ownership,there are other means apart from company set ups. Buying dosnt suit everyone but for me and many others has proved to be a cheap way of having luxury living, its just a shame that so many people are bitter that they missed the boat and now cant afford to buy as they do not have sufficient funds to purchase anywhere.

This must be the most garbage laden piece of written junk to appear ...ever. Your living,and I mean living under constant threat of what this thread is all about,punishment for illegal purchase,that includes confiscation and exclusion from Thailand. For some stupid and thick individuals who cannot see the light of day that would be ignored,but to most it would be a dreaded thought,and yes I am after 20% reward for informing on illegal purchase ,so pinning your IP address would reveal who you are and then big reward for me for revealing a criminal.

Missed the boat? buying luxury housing?,but I thought anyone willing to chance their arm on illegal purchase would find their boat coning in,the place is flooded with cheaper than cheap offers from desperate s from farang community to get the hell out of it,but no they are trapped forever in "their" luxury jailhouses

save money,do not buy into ever depreciating housing in Thailand ,you will lose everything for sure

[Darrel]

Well, if you buy instead of rent you're essentially a perfect 12-month-per-year tenant saving yourself in the region of 5% to 10%pa on your outlay in rent, with the capital outlay being hedged against inflation.

My rented condo cost me less than 4% per year on the asking price. And my owner pays for all the upkeep and also the condo fees.

I know several owners whose property is not worth what they paid for it and could not possibly be sold at that price.

And I wonder what will happen to local condo values when (if) all the recently launched Pattaya projects get built, and about Pattaya house values if some day the rules about long visas and border runs are tightened up.

[PattayaPhom]

Rent is wasted money..why pay someone elses mortgage...nough said, end of discussion!

Yes, and so is the interest on a mortgage.

And so is the loss of investment earnings from that money that's tied up in the home you, the bank and the wife own.

And so is the money spent in closing on a real estate purchase.

And so is the money you spend to maintain all the crap the landlord would take care of- if you rented.

Home ownership can be a great way to accumulate some "wealth", especially if you don't have the discipline to save and invest.

But it's not the answer for everyone, especially in today's portable (and disposable) employee world.

And that's not even factoring in the risks of owning property through loopholes that can be closed retroactively.

I received a very good XE rate when I built and the 2.5% interest that would be payable per month on that now at 48 Baht-Sterling would not be enough to rent a decent house here. As for ownership,there are other means apart from company set ups. Buying dosnt suit everyone but for me and many others has proved to be a cheap way of having luxury living, its just a shame that so many people are bitter that they missed the boat and now cant afford to buy as they do not have sufficient funds to purchase anywhere.

This must be the most garbage laden piece of written junk to appear ...ever. Your living,and I mean living under constant threat of what this thread is all about,punishment for illegal purchase,that includes confiscation and exclusion from Thailand. For some stupid and thick individuals who cannot see the light of day that would be ignored,but to most it would be a dreaded thought,and yes I am after 20% reward for informing on illegal purchase ,so pinning your IP address would reveal who you are and then big reward for me for revealing a criminal.

Missed the boat? buying luxury housing?,but I thought anyone willing to chance their arm on illegal purchase would find their boat coning in,the place is flooded with cheaper than cheap offers from desperate s from farang community to get the hell out of it,but no they are trapped forever in "their" luxury jailhouses

save money,do not buy into ever depreciating housing in Thailand ,you will lose everything for sure

Thats funny man... I want some of what your taking. This subject always brings out the vindictive posters, basically because they havent got a pot to pee in and are jealous. If you prefer renting thats fine, thats your choice if it suits you but its the sheer nastiness of posts made that amazes me, There must be some ulteria reason for it and that is simply lack of money on their behalf. Why such a big chip on your shoulder? So you be happy renting as I and many others are happy purchasing.

[Darrel]

This subject always brings out the vindictive posters, basically because they havent got a pot to pee in and are jealous. If you prefer renting thats fine, thats your choice if it suits you but its the sheer nastiness of posts made that amazes me, There must be some ulteria reason for it and that is simply lack of money on their behalf.

What nonsense. I cant speak for anyone else but I can pretty well guarantee that my pot is many times larger than yours is. And also I know the best way to use mine, and that isn't by buying overpriced property in a country in which I dont have right of abode.

[bangkokrick]

This subject always brings out the vindictive posters, basically because they havent got a pot to pee in and are jealous. If you prefer renting thats fine, thats your choice if it suits you but its the sheer nastiness of posts made that amazes me, There must be some ulteria reason for it and that is simply lack of money on their behalf.

What nonsense. I cant speak for anyone else but I can pretty well guarantee that my pot is many times larger than yours is. And also I know the best way to use mine, and that isn't by buying overpriced property in a country in which I dont have right of abode.

Each to their own Darrel people will always have different needs requirements, so can not be knocked for doing what they do to suit themselves. There are pluses and minuses to everything we decide to do, so no one way is always correct. Happy renting.

[PattayaPhom]

This subject always brings out the vindictive posters, basically because they havent got a pot to pee in and are jealous. If you prefer renting thats fine, thats your choice if it suits you but its the sheer nastiness of posts made that amazes me, There must be some ulteria reason for it and that is simply lack of money o

What nonsense. I cant speak for anyone else but I can pretty well guarantee that my pot is many times larger than yours is. And also I know the best way to use mine, and that isn't by buying overpriced property in a country in which I dont have right of abode.

3% max in a bank account...nah.my pots bigger than your pot. Again, why do renters hate purchasers so much. If people wish to rent as it suits them thats fine with me but it suited me to purchase yet renters have some kind of anger directed at me and others and that stems from them having little pots

[cockerdoodledo]

You are known for giving false and misleading information, I have read many previous corrections being made to previous posts of yours by various people.

Jealous? now there are threads running "Health and Fitness " and so forth on Thai Visa,I would suggest you look up something with mental health as a sub topic........to accuse anybody of jealousy of somebody in your position is likened to a baby with a dummy in its mouth having a tantrum .

Your on your own on this one,go shake your rattle

[Gary A]

Renting can be a pleasure or quite unpleasant depending on the landlord. When I first retired I rented a quite nice apartment. The landlord was very particular about his apartments. I wanted to hang a clock on the kitchen wall and asked him, the answer was absolutely not. No holes in the walls. I offered to use one of the tape hangers and again, no. No tape on the paint. He was also not shy about having a look at the apartment when we were gone.

Yes, I know it's not really a big thing but that was what convinced me to buy a condo. I have never regretted buying my unit. I can do whatever I like to it and don't have to worry about uninvited inspections. Maybe it's worth mentioning that I didn't buy mine for an investment although it has appreciated nicely. Considering that I bought it when there was 41 baht to a dollar, it would yield a nice profit if I were to sell it.

[LennyW]

Renting can be a pleasure or quite unpleasant depending on the landlord. When I first retired I rented a quite nice apartment. The landlord was very particular about his apartments. I wanted to hang a clock on the kitchen wall and asked him, the answer was absolutely not. No holes in the walls. I offered to use one of the tape hangers and again, no. No tape on the paint. He was also not shy about having a look at the apartment when we were gone.

Yes, I know it's not really a big thing but that was what convinced me to buy a condo. I have never regretted buying my unit. I can do whatever I like to it and don't have to worry about uninvited inspections. Maybe it's worth mentioning that I didn't buy mine for an investment although it has appreciated nicely. Considering that I bought it when there was 41 baht to a dollar, it would yield a nice profit if I were to sell it.

The dumbo 2 posts above is talking house purchase,anyway if condo purchase in company name the same applies

Post#421 is yourself!!