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

[MB1]

I buy beer in unrestricted hours, drive on the wrong side of the road, too pissed to do otherwise once pissed, I get a 30 day entry when coming to Thailand and if I stay longer than 30 days I just give my passport to someone and pay whatever and it comes back with an extention, last time I did it I got an extra 37 days which covered me until I flew home, I'm a totally law abiding person when coming to Thailand, I pay my way as the CORRUPT officials allow me to and that's what I love about Thailand.

Would I ever buy a house in Thailand, NO NO NO, for what,???.

I'm sorry but you drive drunk on the wrong side of the road and then say you are a law abiding citizen? You must be drunk now.

You don't get the humour JAY, TIT, pay your way, If you get caught driving whilst under the influence you can pay your way out of it, corrupt officials and all that.

[Jayman]

I buy beer in unrestricted hours, drive on the wrong side of the road, too pissed to do otherwise once pissed, I get a 30 day entry when coming to Thailand and if I stay longer than 30 days I just give my passport to someone and pay whatever and it comes back with an extention, last time I did it I got an extra 37 days which covered me until I flew home, I'm a totally law abiding person when coming to Thailand, I pay my way as the CORRUPT officials allow me to and that's what I love about Thailand.

Would I ever buy a house in Thailand, NO NO NO, for what,???.

I'm sorry but you drive drunk on the wrong side of the road and then say you are a law abiding citizen? You must be drunk now.

You don't get the humour JAY, TIT, pay your way, If you get caught driving whilst under the influence you can pay your way out of it, corrupt officials and all that.

Oh sorry.. I didn't realize it was a joke.. my bad.. lol.. drunk driving and corruption.. ROTFL

[johnnyk]

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

I don't think renters "hate" purchasers. They're just pointing out that unless it's a condo, a FARANG can't OWN a house in Thailand, whatever mental excuses they make to try and avoid admitting that it's they that paid for something that can be taken away from them at any time without compensation.

Seems like pretty irrational behaviour to me!

Falang can own a house. House and land can be separate in Thailand, its owning land that is the problem for falang.

[simple1]

@cockerdoodledo "If you are about to state that bribing a member of staff at the office has allowed the selling of such property,I would be pleased to hear of it ,as I will communicate the information to the appropiate authorities in Bangkok Thank You"

Reply: Perhaps you should have a reality check, instead of making sweeping statements that foreigners are prohibited from buying houses via a company structure at all land offices in Thailand. I acknowledge you have now withdrawn that statement and now make specific reference to the Banglamung Land Office, Chon Buri. As previously mentioned you will find that this "crackdown" was specifically targeted at a foreign managed company that allegedly has been involved in property fraud.

[cheeryble]

.......you are of course right Naam not only are his bond yields wrong......and we all know high yield bonds mean high risk look at the two big Israeli telecoms CEL and PTNR just been crucified..........but

Buying a condo in Thailand gives you no capital protection against inflation (most times just the opposite)

.....is ridiculous the reason new condos have lately been 60% dearer than older ones is because they simply can't be built for the same price (old ones are now catching up and have risen in sympathy)....because of inflation in land and materials.

I get 8% with a regular savings account in the UK (First Direct) I don't use my pension ...... so why not save at 8%?

Piffle again you cannot in any way get 8% on the price of a condo from First Direct you can get it on a maximum 3600 paid in bits over one year............not to mention 8% is not the 10 to 15% you are competing with.

[TommoPhysicist]

Piffle again you cannot in any way get 8% on the price of a condo from First Direct you can get it on a maximum 3600 paid in bits over one year............not to mention 8% is not the 10 to 15% you are competing with.

I don't know any foreigner who has made a profit from buying/selling land, house or condo in Thailand (by whatever means). I do many who have lost loads if not everything.

I may end up buying a house for my Thai son, but it will be a gift for him, not an investment for me.

Edited July 14, 2012 by TommoPhysicist

[Bung]

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.

Children? Pretty blinkered attitude there.

[Naam]

I don't think renters "hate" purchasers. They're just pointing out that unless it's a condo, a FARANG can't OWN a house in Thailand, whatever mental excuses they make to try and avoid admitting that it's they that paid for something that can be taken away from them at any time without compensation.

Seems like pretty irrational behaviour to me!

have you ever thought of the fact that anything you own or "think" you own, not only can, but will be taken away from you at one time without compensation?

you never thought of it? hmmm... i see, you must be one of these immortals they make movies about. most of us, and that includes my[not so]humble self, are well aware that we own nothing once they carry us to the crematorium.

[guzzi850m2]

I don't think renters "hate" purchasers. They're just pointing out that unless it's a condo, a FARANG can't OWN a house in Thailand, whatever mental excuses they make to try and avoid admitting that it's they that paid for something that can be taken away from them at any time without compensation.

Seems like pretty irrational behaviour to me!

have you ever thought of the fact that anything you own or "think" you own, not only can, but will be taken away from you at one time without compensation?

you never thought of it? hmmm... i see, you must be one of these immortals they make movies about. most of us, and that includes my[not so]humble self, are well aware that we own nothing once they carry us to the crematorium.

Well said

When I check out from this world my family will get everything and that's one of the reasons I don't have a problem having spent app 300 k$ on property here.

Now I know the "negative Brigade" will say: Just wait and see do you really think your wife will stay with you and not kick you out? No I don't know that for sure and I don't know too if the world will exists the way we know it in a few years from now (climate change & economical meltdown or WW3), BUT I chose to be an optimist and live my life as best as possible and that's include my family off course.

Edited July 15, 2012 by guzzi850m2

[thaibeachlovers]

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

I don't think renters "hate" purchasers. They're just pointing out that unless it's a condo, a FARANG can't OWN a house in Thailand, whatever mental excuses they make to try and avoid admitting that it's they that paid for something that can be taken away from them at any time without compensation.

Seems like pretty irrational behaviour to me!

Falang can own a house. House and land can be separate in Thailand, its owning land that is the problem for falang.

Perhaps you can "own" the house, but if you can't own the land it sits on it's meaningless should the poo hit the proverbial, and that's the bottom line in LOS. We are only here on sufference, and one day should circumstances change, it's bye bye.

My point is that in a country where just living here is subject to change at any time, why would anyone want to buy a house when renting is sooooooo cheap. Unless of course it's just small change.

One post deleted to allow posting

Edited July 15, 2012 by thaibeachlovers

[bkkjames]

wasnt it in saudi where some official had the same kind of thought about foreigners buying up the land but the big boss there said, worry about it when they start shipping the land overseas...

[thaibeachlovers]

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.

Children? Pretty blinkered attitude there.

What is the relevance of that? IMO completely irrelevant and pointless!

Not everyone that buys a house in LOS has children, and a will dividing up the money is suitable to take care of them should one wish to take care of children. Would they even want a house in the village or wherever?

[cheeryble]

I don't know any foreigner who has made a profit from buying/selling land, house or condo in Thailand

Extraordinary! No, bizarre!

I can only guess that being the type of person who will grass up their neighbours to the Land Dept and who in another thread where I was trying to assess the value of a piece of CR land looked forward to laughing at my mistake and were extremely rude about my Thai relatives who you don't know you move in limited company.

I may end up buying a house for my Thai son, but it will be a gift for him, not an investment for me.

You're not letting your wife buy it?

Edited July 15, 2012 by cheeryble

[Bung]

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.

Children? Pretty blinkered attitude there.

What is the relevance of that? IMO completely irrelevant and pointless!

Not everyone that buys a house in LOS has children, and a will dividing up the money is suitable to take care of them should one wish to take care of children. Would they even want a house in the village or wherever?

You said:

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

ANY Farang.

It is very relevant, the amount of people here who have children and the basic instinct to care for them after you go, it is comforting to know you are leaving them with a roof over there head.

In this case I see renters as throwing money away.

I bought my house for 50k USD and am spending about 40k making it a home for my sone and I.

The house is in my name, no problem with that and the chanote is in my sons name who I have full custody over.

If he wants to kick me out when he turns 21 than that would mean I have failed as a father and anyway, if 80k breaks your bank then what are you doing here?

I think it is very relevant. The amount of posters who say ANY Farang who buys is mad when they don't consider people with children. My son is growing up in this home, why wouldn't he want to keep it? He loves this place. (In Chiang Mai) He can always rent it out and make a nice suppliment to his income if he works elsewhere. The additions I am making are taking into account the fact the (I hope) he will raise his own family in it. If it doesn't work out that way who cares? I am actually considering building a place for myself and he then has two homes left to him. Sure, I could leave him money but what will he do with that? A house is better.

Anyway, if you are happy renting your house, thats fine but I prefer to live in my home.

[metisdead]

Off topic baiting posts have been removed. After re-reading the OP, it appears the topic was drifting off topic, off topic posts and replies have been removed.

[manarak]

You can get 5.5% from many Banks in Australia, I get 8% with a regular savings account in the UK (First Direct) I don't use my pension ...... so why not save at 8%?

http://www1.firstdir...savings-account

8% and upwards, plenty of low-risk bonds available in Hong Kong and Singapore

12% the bonds are getting a bit riskier ...... I'm happy with 8%

Hi Tommo,

I am dying to know where I can invest, say, 500k AUD and get even just 5.5% as a non-Australian.

The first direct thing obviously doesn't work for me.

I would also like to know where I could buy some low-risk bonds yielding 8%.

That would make me reconsider my position on buying in Thailand.

Buying a property in Thailand is basically betting they won't act on it within 10 years of purchase.

To the guys who said "taken away without compensation", that's incorrect, the current law says it has to be sold within six months (and I don't think the current law will change).

[TommoPhysicist]

Hi Tommo,

I am dying to know where I can invest, say, 500k AUD and get even just 5.5% as a non-Australian.

The first direct thing obviously doesn't work for me.

I would also like to know where I could buy some low-risk bonds yielding 8%.

Sorry, you need to redirect your investment question to Naam, I'm not worthy.

[lovetotravel]

Piffle again you cannot in any way get 8% on the price of a condo from First Direct you can get it on a maximum 3600 paid in bits over one year............not to mention 8% is not the 10 to 15% you are competing with.

I don't know any foreigner who has made a profit from buying/selling land, house or condo in Thailand (by whatever means). I do many who have lost loads if not everything.

I may end up buying a house for my Thai son, but it will be a gift for him, not an investment for me.

I know many who have made a bundle on RE here. Most from buying quite a few years ago. But I have friends who are doing quite well in the Thai market. The farang market now is not doing so well.

[TommoPhysicist]

I may end up buying a house for my Thai son, but it will be a gift for him, not an investment for me.

You're not letting your wife buy it?

She doesn't have any money to buy him a house.

[TommoPhysicist]

I know many who have made a bundle on RE here. Most from buying quite a few years ago.

You know many foreigners who bought land/houses/condos in Thailand then sold it for a profit and put the profit in their sole bank account. I don't believe you, the rest of your post was irrelevant to my post.

Edited July 17, 2012 by TommoPhysicist

[thaibeachlovers]

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.

Children? Pretty blinkered attitude there.

What is the relevance of that? IMO completely irrelevant and pointless!

Not everyone that buys a house in LOS has children, and a will dividing up the money is suitable to take care of them should one wish to take care of children. Would they even want a house in the village or wherever?

You said:

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

ANY Farang.

It is very relevant, the amount of people here who have children and the basic instinct to care for them after you go, it is comforting to know you are leaving them with a roof over there head.

In this case I see renters as throwing money away.

I bought my house for 50k USD and am spending about 40k making it a home for my sone and I.

The house is in my name, no problem with that and the chanote is in my sons name who I have full custody over.

If he wants to kick me out when he turns 21 than that would mean I have failed as a father and anyway, if 80k breaks your bank then what are you doing here?

I think it is very relevant. The amount of posters who say ANY Farang who buys is mad when they don't consider people with children. My son is growing up in this home, why wouldn't he want to keep it? He loves this place. (In Chiang Mai) He can always rent it out and make a nice suppliment to his income if he works elsewhere. The additions I am making are taking into account the fact the (I hope) he will raise his own family in it. If it doesn't work out that way who cares? I am actually considering building a place for myself and he then has two homes left to him. Sure, I could leave him money but what will he do with that? A house is better.

Anyway, if you are happy renting your house, thats fine but I prefer to live in my home.

\

You are a generous man, sir!

My father left me sod all, and I expected sod all from him.

We obviously have different ideas about what we should leave the next generation. I fail to see why I should have an obligation to leave my progeny anything other than a good education and the knowledge that I love them, and that they always have a welcome with me.

Re renting, as I rarely stay anywhere very long, I would be silly buying anyway, but given the lack of land ownership rights for farangs, I still stand by my statement.

<that would mean I have failed as a father>

Who knows what tomorrow brings?

<if 80k breaks your bank then what are you doing here?>

That's a pretty bizarre statement! Just as well you don't set Thai visa regs, LOL.

One quote removed to allow posting.

Edited July 17, 2012 by thaibeachlovers

[cockerdoodledo]

@cockerdoodledo "If you are about to state that bribing a member of staff at the office has allowed the selling of such property,I would be pleased to hear of it ,as I will communicate the information to the appropiate authorities in Bangkok Thank You"

Reply: Perhaps you should have a reality check, instead of making sweeping statements that foreigners are prohibited from buying houses via a company structure at all land offices in Thailand. I acknowledge you have now withdrawn that statement and now make specific reference to the Banglamung Land Office, Chon Buri. As previously mentioned you will find that this "crackdown" was specifically targeted at a foreign managed company that allegedly has been involved in property fraud.

Oh no it was not. I am corresponding with the Thai official,not about specific individuals,if it comes to it it was all mostly fraudulently purchased.

One more thing ,when (and a big if and when) the land office will differentiate between supposedly legal and illegal business accusations,then think the word shock maybe appropriate. I will of course if and when I obtain a reply I will submit it for your inspection

[lovetotravel]

I know many who have made a bundle on RE here. Most from buying quite a few years ago.

You know many foreigners who bought land/houses/condos in Thailand then sold it for a profit and put the profit in their sole bank account. I don't believe you, the rest of your post was irrelevant to my post.

It's actually very relevant to your post. If you don't know anybody who made a profit here in RE, you must not know many RE owners? To say nobody has ever made any money here in thailand on RE is a ridiculous statement. If you'd like to talk with these people, I'd be more than happy to put you in touch with them.

With that being said, it's a different market today than it was 5 years ago. Today it's much more difficult to make money, but it's still being done.

[craigt3365]

I know this is a heated subject, and brings out the best, and worst, in our members. Personal attacks will not be tolerated. Next personal attack will result in a posting holiday. Please be civil!

One post which violated forum rules has been removed from view:

In using Thai Visa I agree:

1) To respect fellow members.

[cockerdoodledo]

I spoke to an English guy on Sunday that bought 2 condos and a house when the XE was 73 Baht-Sterling, he sold them all over the past 2 years and made a profit on the house and one condo, he has done very well and almost tripled his money compared to leaving it in a UK bank and paying rent with the interest he would receive....not everyone one is a loser, you must be mixing with the wrong sort

These must be the only three (total) that sold in the last 2 years,well done for knowing this guy....and guess what ,I know him ..Walter Mitty.

Do you know how many properties sold in Pattaya last year...not to mention the rest of Thailand...

Not traversing in Thailand property et al,keep it simple ,it is you with your statement of "knowing a guy ,and speaking to him on Sunday" now lets have a name off you,the pub where the supposed meandering conversation took place, I'll buy him (and you ) a few beers too,not that I'm saying there is something smells rotten here ,and it ain't my socks.

Please PM at your earlist convenience,or even earlier ,to facilitate your "free " beer

[PattayaPhom]

I spoke to an English guy on Sunday that bought 2 condos and a house when the XE was 73 Baht-Sterling, he sold them all over the past 2 years and made a profit on the house and one condo, he has done very well and almost tripled his money compared to leaving it in a UK bank and paying rent with the interest he would receive....not everyone one is a loser, you must be mixing with the wrong sort

These must be the only three (total) that sold in the last 2 years,well done for knowing this guy....and guess what ,I know him ..Walter Mitty.

Do you know how many properties sold in Pattaya last year...not to mention the rest of Thailand...

Not traversing in Thailand property et al,keep it simple ,it is you with your statement of "knowing a guy ,and speaking to him on Sunday" now lets have a name off you,the pub where the supposed meandering conversation took place, I'll buy him (and you ) a few beers too,not that I'm saying there is something smells rotten here ,and it ain't my socks.

Please PM at your earlist convenience,or even earlier ,to facilitate your "free " beer

It was in the sauna at Fairtex in Naklua, I know the propertties he talked about, and the prices when he bought and sold...sorry to dissapoint

[TommoPhysicist]

It was in the sauna at Fairtex in Naklua, I know the propertties he talked about, and the prices when he bought and sold...sorry to dissapoint

Funny it's always someone I met in a pub that made money, never I made money!

73bht to 50bht makes you 40% profit (if you moved the money back to the UK)

To triple your money you would need to sell for about 2.5x purchase price then transfer the money back to the UK.

Did the person you met do that?

Edited July 18, 2012 by TommoPhysicist

[moe666]

Whats the beef never have been able to own land what has changed.Beating a dead bufflo to death.

[impulse]

When I check out from this world my family will get everything and that's one of the reasons I don't have a problem having spent app 300 k$ on property here.

BUT I chose to be an optimist and live my life as best as possible and that's include my family off course.

Not aimed at you specifically, but you're in one situation.

1) You have a family.

2) Your family can inherit land in Thailand.

Quite a few of us are either single, or have families that aren't qualified to inherit land in Thailand.

A lot of us are on expat assignments and don't expect to be here long enough to reap the benefits of appreciation beyond the costs of transferring real estate- twice- once when we'd buy and again when we leave.

So I rent, even though I have a pile of cash in a low yield bank account that's more than sufficient to buy a house here.

If I get hit by a bus, my family gets cash, and not a property that they have to deal with selling (if they can at all- I don't know, don't care).

If I get a better job offer, one week to settle up and a shipping container and I'm gone (after reasonable notice, but in my business, you're usually escorted from the building after you give notice). Frankly, I won't even need the container unless my next employer pays for shipping it...

And if they close all the loopholes and kick out every foreigner who has claim to property, I'm not out a single baht.

Buying is fine for you. It's fine for a lot of people. But it makes no sense for some of us and it's not necessarily because we're destitute.

It's a valid choice and not based on any hype, external pressures, sentimentality or nostalgia for good times back when real estate always went up in value. I rent what I need this year, only what I need this year. And if things go jiggy with this place, or my neighborhood goes to hell, I can rent another place.

Again, guzzi, not aimed at you specifically- just handy quoting a few of your words.

Edited July 18, 2012 by impulse

[PattayaPhom]

It was in the sauna at Fairtex in Naklua, I know the propertties he talked about, and the prices when he bought and sold...sorry to dissapoint

Funny it's always someone I met in a pub that made money, never I made money!

73bht to 50bht makes you 40% profit (if you moved the money back to the UK)

To triple your money you would need to sell for about 2.5x purchase price then transfer the money back to the UK.

Did the person you met do that?

Try reading again...Sauna...Pub..the words dont even look alike....and I have made money also thankyou very much..its not 50 Baht its 48 and until a few months ago 47. 4 million Baht at 73 was just over 54K, so he only needed to sell for 7 million to 'almost triple', thats not 2.5 x purchase price its not even double. You havnt met anyone thats made money or is happy about property in Thailand but I and many others have, just accept it, whats the big issue.

Lets see, purchase price 4 million, selling price 7 million all in Thai baht.

So a profit of 3 million, 3 as a %age of 4 = 75% last time I was at school.

Thats correct, now do the conversions from Sterling-Baht-Sterling at the appropriate XE rates....almost triple the original amount.