Why are condo"s so much more than houses?

[i claudius]

and when they take you to the crematorium or the graveyard they can burn or bury the title papers of the condo with you because... it's in your name!

Yes, or you could just leave it to any Thai or non-Thai person of your choosing, via a valid will. And they can then dispose of it as they wish.

morons who enjoy living in comfortable homes and resent condos will have an unpleasant surprise after they died. they burn or are buried all alone. serves them morons right!

Many homes that I have seen here are in no way superior to a condo, especially when it comes to the view. In fact I would say that many homes here are on tiny plots of land in out of the way housing estates on which I wouldnt live for love or money. I much prefer my 180 degree uninterrupted panoramic view of the beach, bay, and hills and trees that I get from every part of my condo (apart from the bathroom). I would not find that in any house here at any price.

But the real unpleasant surprise for house-owners may come when for some unexpected reason (marital breakdown, ill-health, economic downturn, change of law/government/tax situation/visa situation) they need to leave promptly. If any of those came to pass (and only a complete fool would say they never could) I would rather be a tenant than an owner, and if I was an owner I would rather be owning a condo outright than owning part of some weird company structure of dubious legality.

IN that case our son would have it to live in ,just depends on what sort of wife and in laws you have ,mine are lovely . but if i was a single guy out all the time then i to would live in a condo ,its just they are all so small in the 5/6 millon range ,perhaps i have lived to pampered a life always living in decently sized homes .

[AnotherOneAmerican]

And what happens if one has the misfortune of the death of the younger Thai wife? It happens, Stickman had a story on his blog a few years back, not a happy tale at all.

If your wife left it to you in a will no problem, it's yours.

If your wife didn't leave a will it's 50% yours and 50% her children's (problem if the children aren't yours).

If your wife didn't leave a will and the children are also yours, no problem, as you can manage their 50% share until they are 20.

One of the few ways a foreigner can own property in Thailand, inherited.

Edited August 12, 2013 by AnotherOneAmerican

[KittenKong]

One of the few ways a foreigner can own property in Thailand, inherited.

As far as I know that "right" lasts only 12 months, by which time it has to be sold.

So it's a grace period rather than a right, I think.

[KittenKong]

IN that case our son would have it to live in ,just depends on what sort of wife and in laws you have ,mine are lovely .

They are today, but who knows how they could be tomorrow? And who would want to take that chance?

but if i was a single guy out all the time then i to would live in a condo ,its just they are all so small in the 5/6 millon range ,perhaps i have lived to pampered a life always living in decently sized homes .

I'm in most of the time and my sub-3MB condo is plenty big enough for me, even though I used to live in a house that was 350+sqm. For 5/6M one can find a larger condo of between 120-180sqm, which might be suitable for people who want many bedrooms. And I've seen condos (including brand new ones right on the beach) that are 250sqm or more, complete with maid's quarters and a second outdoor kitchen.

[Naam]

condos are a really bad idea.... you own what??? 49 percent? your maintenance fees and interest will be more that what you will be selling that overated 200 sqft space for. put your money in the bank and rent.

Where are you living in a dormitory 200sq ft is a little bit less than 19 sq meters Do you have indoor plumbing?

people who buy or rent 19m² to live in are strongly advised to stay in their home country and collect welfare

[Naam]

there are dog people and there are cat people as there are house people and condo people. but... "never the twain shall meet!"

[Naam]

These real estate experts who "own" (in their dreams) houses are amazing...

those who enjoy living in a house don't dream about a condo except when they have a horrible nightmare.

[Benmart]

It's sad to see the caustic venom and name calling. Renter vs buyer, condo vs house. It's all irrelevant as i believe the was OP asking why are condos so much more than houses?

Be nice. It makes everyone happy.

Hey Benmart

Get used to it mate. There are some really vicious, mean-spirited people that frequent this forum. Quite a few, and vocal it seems. I can only imagine they have had great tragedy in their lives, that needlessly attacking another person rather than debating their views becomes enjoyment.

Cheers

TL

TL, thanks for the insight. Yes, you are spot on about tragedy and drama in selected populations. I've served 20 years in the US Forces, traveled a bit around the planet and arrested a fair share of the mischief makers. The common theme I've found in people whose lives are in turmoil is a general negative outlook on life.

I steer clear of the turbulent types and seek calmer waters. Cheers and stay afloat.

[Naam]

TL, thanks for the insight. Yes, you are spot on about tragedy and drama in selected populations. I've served 20 years in the US Forces, traveled a bit around the planet and arrested a fair share of the mischief makers. The common theme I've found in people whose lives are in turmoil is a general negative outlook on life.

I steer clear of the turbulent types and seek calmer waters. Cheers and stay afloat.

hmmm... you arrested mischief makers when travelling around the world with the US forces? tell us some more interesting stories!

[ThaiBob]

One of the few ways a foreigner can own property in Thailand, inherited.

As far as I know that "right" lasts only 12 months, by which time it has to be sold.

So it's a grace period rather than a right, I think.

It's 12 months for a condo and 6-12 months for land and house according to this website:

http://www.bangkoklawonline.com/article-base-thai-law/79-foreigners-and-inheritance-in-thailand/

If you don't sell the property the Land Dept will do it for you.

[ThaiBob]

Not one single person here has it right as to why condos are much more expensive. This is the fact. Thais think a condo is a good investment. If you watch construction of a condo it starts off at one price and by the time it is finished it is selling for 30 to 50% more that the original price over lets say 2 years for construction. Is it supply in demand. Hardly. Thais make a small down payment then try and rent it out to cover the cost of the mortgage. The problem here is there are now more condos then renters. So what you have here is a REAL BUBBLE" waiting to burst. The tipping point will be a crisis (political or economic) that that will send everyone running and start to walk away from what they can no longer afford to maintain with the banks. Take a look at an older condo 3 to 4 years and look at the number of vacant condos. Or go onto a web site renting condos and look at prices. Rental prices should reflect the true market conditions of the real estate market. But in this case they are reflecting the amount of Debt a Thai has in a condo. So if you can find a rental for a 35 square meter unit at baht 10,000 why would you pay 16,000 for something similar . You would not nor would anyone else.

Yes we are in a bubble and it will burst Too many condos are being build and the builders are sucking in the Thais that still believe that an artificial price rise is a good. The builder is escalating prices not market conditions That is very dangerous.

All I can say to the so called Condo Investor is GOOD LUCK

I don't agree with a lot of this. Thais buying condos here do it with cash or developers installments with the the balance due at completion, just like foreigners. Thais primarily from Bangkok started buying these small matchbox size condos only recently. These prices are pocket change for many of them.

You do not know what you are talking about according to Bangkok Bank 87 % of condo units are financed NOT Paid with private money I have no idea where you get your facts Probably pulling them from the same people how invest in condos

As others posted, Thanks for sharing the real facts with us.

I am well aware of how Thais finance property. I have purchased property for Thais and investigated mortgages with them primarily in the exclusively Thai areas of outer Bangkok. Buying from Thai developers there, usually means getting a traditional mortgage from a bank but many Thais will use the family and friends first.

This is not related to the discussion about cheap Pattaya condos by mostly foreign developers. Contracts are signed, monthly interest free installments are made, and balloon payments are due at completion by both foreigners and Thai buyers. Your premise that condos are more expensive because Thais see them as good investments simply doesn't fly.

[hellodolly]

One of the few ways a foreigner can own property in Thailand, inherited.

As far as I know that "right" lasts only 12 months, by which time it has to be sold.

So it's a grace period rather than a right, I think.

It's 12 months for a condo and 6-12 months for land and house according to this website:

http://www.bangkoklawonline.com/article-base-thai-law/79-foreigners-and-inheritance-in-thailand/

If you don't sell the property the Land Dept will do it for you.

So if the kids are yours and their mother was Thai would they niot be able to retain the property. I would presume living in Thailand that they are stull Thai citizens just because the Father is not.

[JSixpack]

If only one person, a condo can offer a lot of convenience and sufficient space whilst one foreigner in a house in Thailand often attracts burglars. But for a family, it is a no-brainer, gotta be a house unless money is no object.

For a family, the desirability of a house does increase, I totally agree; and the chants of the Thai wife then become much harder to resist.

But--just for the record--quite a few farangs are raising families in condos and doing well enough. In a condo-dense area, you'll daily see vans from private schools (including the best of them) picking up and letting off the kids living in the condos. I know a guy who could easily afford a house (I assume he doesn't buy one (for the wife, or for a company) because of the disadvantages listed in this thread, and because he likes his seaview and the location). He and his wife have been rearing their two daughters in a 2-bedroom 100 sqm condo for the last 8 years w/ no abject suffering I'm aware of. Probably does give him a good excuse to get out and hit the bars weekly.

Condo and housing prices are determined by the real estate market, not the price of bricks. As has been shown countless times over the years, most TV members are incapable of understanding that market in Thailand. Hence the continual bitches, moans, and anguished cries of disbelief and incredulity. I see the OVERBUILT PATTAYA brigade has predictably shown up in force along with the HATE CONDOS and the FOOLS BUY REAL ESTATE. So it goes.

Now, a broken clock is right twice a day. Will there be a crash? Someday, as in all markets, but nobody knows when. Might prices go up even further? They might, esp for the most desirable buildings and locations. Who knows? (Yeah, right, YOU know.) But if you choose well and you're gonna live in the place for many years, rather than speculate (speculators know the risks), then so what. You won't be underwater as are 1/2 of the mortgage owners in the USA. If it crashes, pick up a few more units--saw that in the last crash and many did quite well. In the last crash, the Thai gov't relaxed the 49% rule--and of course it will again under similar circumstances.

I hate to give the impression that I care one or the other, however. Each to his own.

[Pattaya46]

The problem here is there are now more condos then renters. So what you have here is a REAL BUBBLE" waiting to burst. The tipping point will be a crisis (political or economic) that that will send everyone running and start to walk away from what they can no longer afford to maintain with the banks. Take a look at an older condo 3 to 4 years and look at the number of vacant condos.

I don't agree with that. Reading at you, condos are only used to be rented. That absolutely false. In a lot of condos, mainly older ones, most apartments are owned by farang who live in it. Many of the other apartments are owned by Thai who use them for holidays or long week-ends. Not so many for rent and in fact very few vacant ones.

[AnotherOneAmerican]

One of the few ways a foreigner can own property in Thailand, inherited.

As far as I know that "right" lasts only 12 months, by which time it has to be sold.

So it's a grace period rather than a right, I think.

It's 12 months for a condo and 6-12 months for land and house according to this website:

http://www.bangkoklawonline.com/article-base-thai-law/79-foreigners-and-inheritance-in-thailand/

If you don't sell the property the Land Dept will do it for you.

The 'sell in one year' rule is not enforced, in the worst case you get reminder letters every year.

If a portion of the property is owned by a minor, nobody can make you sell.

Edited August 13, 2013 by AnotherOneAmerican

[guzzi850m2]

The problem here is there are now more condos then renters. So what you have here is a REAL BUBBLE" waiting to burst. The tipping point will be a crisis (political or economic) that that will send everyone running and start to walk away from what they can no longer afford to maintain with the banks. Take a look at an older condo 3 to 4 years and look at the number of vacant condos.

I don't agree with that. Reading at you, condos are only used to be rented. That absolutely false. In a lot of condos, mainly older ones, most apartments are owned by farang who live in it. Many of the other apartments are owned by Thai who use them for holidays or long week-ends. Not so many for rent and in fact very few vacant ones.

That huge ugly double condo on Sukhumvit road just North of BKK/Patt hospital was sold out pretty quickly, small units.

Mostly Thai buyers and a lot of them are the staff from same hospital, obviously not the doctors (lol). I know this first hand as one of my neighbors is a doctor there and he told me.

For the condos with small units, some buy 2 or even 3 units next to each other and convert them into one apartment.

[i claudius]

IN that case our son would have it to live in ,just depends on what sort of wife and in laws you have ,mine are lovely .

They are today, but who knows how they could be tomorrow? And who would want to take that chance?

but if i was a single guy out all the time then i to would live in a condo ,its just they are all so small in the 5/6 millon range ,perhaps i have lived to pampered a life always living in decently sized homes .

I'm in most of the time and my sub-3MB condo is plenty big enough for me, even though I used to live in a house that was 350+sqm. For 5/6M one can find a larger condo of between 120-180sqm, which might be suitable for people who want many bedrooms. And I've seen condos (including brand new ones right on the beach) that are 250sqm or more, complete with maid's quarters and a second outdoor kitchen.

Well firstly my inlaws ,have been for 20 years and my son for 19 years ,so i am not to worried ,i cant see him kicking his dad out on the street, as to those large condoes with maids quarters for 3 to 5 million on the beach ,where? i cant find them oh and the second outdoor kitchen ,i hope its on the balcony

[i claudius]

The problem here is there are now more condos then renters. So what you have here is a REAL BUBBLE" waiting to burst. The tipping point will be a crisis (political or economic) that that will send everyone running and start to walk away from what they can no longer afford to maintain with the banks. Take a look at an older condo 3 to 4 years and look at the number of vacant condos.

I don't agree with that. Reading at you, condos are only used to be rented. That absolutely false. In a lot of condos, mainly older ones, most apartments are owned by farang who live in it. Many of the other apartments are owned by Thai who use them for holidays or long week-ends. Not so many for rent and in fact very few vacant ones.

That huge ugly double condo on Sukhumvit road just North of BKK/Patt hospital was sold out pretty quickly, small units.

Mostly Thai buyers and a lot of them are the staff from same hospital, obviously not the doctors (lol). I know this first hand as one of my neighbors is a doctor there and he told me.

For the condos with small units, some buy 2 or even 3 units next to each other and convert them into one apartment.

I know this block well ,(they are building others) as i pass it daily and infact looked in there early on ,they are prefabricated ,just like the 60s70s councill blocks in the UK ,very noisy and are now being pulled down ,i dread to think what state they will be in ,in a few years time when no maintanance charges are paid , personally even if i was single and was rarely there i wouldnt touch one with a bargpole.

[KittenKong]

Well firstly my inlaws ,have been for 20 years and my son for 19 years ,so i am not to worried ,i cant see him kicking his dad out on the street,

I'm glad you have confidence but much stranger things have happened here. Anyway, it's certainly not my problem so good luck to you.

as to those large condoes with maids quarters for 3 to 5 million on the beach ,where? i cant find them oh and the second outdoor kitchen ,i hope its on the balcony

Reread what I wrote.

The second kitchen is not on the balcony; it is a room that is not air-conditioned and has window spaces with no glass. Very handy as it avoids polluting the main part of the condo with cooking smoke and smells, but you can still use the main kitchen for non-smelly cooking or serving etc.

[Naam]

Well firstly my inlaws ,have been for 20 years and my son for 19 years ,so i am not to worried ,i cant see him kicking his dad out on the street,

I'm glad you have confidence but much stranger things have happened here. Anyway, it's certainly not my problem so good luck to you.

as to those large condoes with maids quarters for 3 to 5 million on the beach ,where? i cant find them oh and the second outdoor kitchen ,i hope its on the balcony

Reread what I wrote.

The second kitchen is not on the balcony; it is a room that is not air-conditioned and has window spaces with no glass. Very handy as it avoids polluting the main part of the condo with cooking smoke and smells, but you can still use the main kitchen for non-smelly cooking or serving etc.

keep up the good job! your fairy tales factual reports about "condo non-glassed window outdoor kitchen rooms for smelly food" are very interesting. may i assume that they are located between the cook's and the butler's room and far away from the library, the pool billiard room and the second reception for not so important visitors?

Edited August 14, 2013 by Naam

[i claudius]

Well firstly my inlaws ,have been for 20 years and my son for 19 years ,so i am not to worried ,i cant see him kicking his dad out on the street,

I'm glad you have confidence but much stranger things have happened here. Anyway, it's certainly not my problem so good luck to you.

as to those large condoes with maids quarters for 3 to 5 million on the beach ,where? i cant find them oh and the second outdoor kitchen ,i hope its on the balcony

Reread what I wrote.

The second kitchen is not on the balcony; it is a room that is not air-conditioned and has window spaces with no glass. Very handy as it avoids polluting the main part of the condo with cooking smoke and smells, but you can still use the main kitchen for non-smelly cooking or serving etc.

Yes but where are they? i want to look at them ,(just incase my son throws me out onto the streets if his mum dies before me)

[ThaiBob]

One of the few ways a foreigner can own property in Thailand, inherited.

As far as I know that "right" lasts only 12 months, by which time it has to be sold.

So it's a grace period rather than a right, I think.

It's 12 months for a condo and 6-12 months for land and house according to this website:

http://www.bangkoklawonline.com/article-base-thai-law/79-foreigners-and-inheritance-in-thailand/

If you don't sell the property the Land Dept will do it for you.

The 'sell in one year' rule is not enforced, in the worst case you get reminder letters every year.

If a portion of the property is owned by a minor, nobody can make you sell.

Just for the record, you cannot inherit your wife's property (that you paid for) and register with the Land Office. I do not find comfort in your statement "sell in one year" is not enforced (tell that to parents, brothers, and sisters who also might statutory heirs). If there is no will and no children, you are another statutory heir so you get in line with everybody else:

http://www.thailandlaw.org/intestate-succession-in-thailand.html

If your wife does have a will you will have to convince her to exclude her parents and other family members. Good luck with that.

Now, with a condo and a chanote in my own name I am in control of my finances and my inheritance. What was the question again, why are condos more expensive than houses? You have part of the answer.

[KittenKong]

keep up the good job! your fairy tales factual reports about "condo non-glassed window outdoor kitchen rooms for smelly food" are very interesting. may i assume that they are located between the cook's and the butler's room and far away from the library, the pool billiard room and the second reception for not so important visitors?

The great Naam again displays his lack of knowledge. Rarely have I come across anyone who talks so much about things about which he knows so little.

Edited August 14, 2013 by Rimmer
Link to another forum removed

[i claudius]

keep up the good job! your fairy tales factual reports about "condo non-glassed window outdoor kitchen rooms for smelly food" are very interesting. may i assume that they are located between the cook's and the butler's room and far away from the library, the pool billiard room and the second reception for not so important visitors?

The great Naam again displays his lack of knowledge. Rarely have I come across anyone who talks so much about things about which he knows so little.

You still have not answered the question ,just tell me where these condo's are ,how many more times?

[AnotherOneAmerican]

Now, with a condo and a chanote in my own name I am in control of my finances and my inheritance. What was the question again, why are condos more expensive than houses? You have part of the answer.

What if your condo decides they need a huge amount for emergency maintenance?

What happens if you fall out with the condo management and they decide to cut off your electricity and water?

What happens if the local police decide to operate a meth lab in the next condo?

How much control do you really have?

[Tolley]

It really is a bit of a conundrum in Pattaya.

If you like living in a house then it means a bit of a commute into Pattaya itself as there arent really many affordable houses in the main Pattaya area and with the way traffic is these days and if you like a drink then it becomes even more of an issue.

If you live in a condo you have much less space, potential neighbour issues, potential condo management issues,etc

[jacnl2000]

at our home in Sakon N. people are allowed to call me an armchair specialist, however, presently, reading in the mobile bath tub holding a sufficient number of cube-shaped pieces of ice would be one of todays most pleasurable activities while waiting for an upgrade in umbrella technology to improve my reading skills while in shower lol

[JSixpack]

Now, with a condo and a chanote in my own name I am in control of my finances and my inheritance. What was the question again, why are condos more expensive than houses? You have part of the answer.

What if your condo decides they need a huge amount for emergency maintenance?

What happens if you fall out with the condo management and they decide to cut off your electricity and water?

What happens if the local police decide to operate a meth lab in the next condo?

How much control do you really have?

I feel sorry for our resident Chicken Littles. Don't dare buy a condo--maybe can't profit from it or the POLICE MIGHT OPEN A METH LAB IN THE NEXT CONDO. Can't buy a house--karaoke bar might open across the street. Can't drive car--cars have accidents. Can't invest in shares--shares might go down. Can't put money in a bank--bank might fail or steal the money. Can't use a credit card--might get cloned. Can't ride in a plane--planes crash. Can't have sex--might get AIDS. Can't walk beside the beach--katooey might might hit you in the head w/ a spiked heel and steal your wallet. Can't even be comfortable renting--building might burn down.

Only thing to do is just spend your time in your momma's basement curled up in a fetal position. Do it.

Such silly posts. I love this forum.

Edited August 14, 2013 by JSixpack

[JSixpack]

If you live in a condo you have much less space, potential neighbour issues, potential condo management issues,etc

My friends in the USA all live in big houses. I used to, years ago. So much wasted space, filled w/ useless junk. Weekends spent in maintenance. And what is their real life there? Mostly shopping, preparing food, watching TV or movies. Nothing they can't do in one room w/ a kitchen, really. Now all are underwater w/ their mortgages.

Now here's a fact: must be a few thousand farangs in PTY living happily enough--note the qualifier--in their condos right now. Got their own place, aren't paying rent, pay a ridiculously low annual fee (by Western standards), maybe a seaview. All may not be 100% perfect, but consider the prices. Consider the property taxes being paid here compared to there. It's quite OK. Now, some buildings are obviously better than others--true everywhere. You can choose Detroit (Flybird Condos, Soi 17) or Santa Barbara (Northshore/Royal Cliff). Spend more, you get more.

If you're a fussy old lady living daily on air, a handful of peanuts, and a half-sucked mango, you'd just be a whole lot better off living in Sarasota, Florida, USA in a retirement home. Really. You don't belong in Thailand at all.

[KittenKong]

The great Naam again displays his lack of knowledge. Rarely have I come across anyone who talks so much about things about which he knows so little.

Not sure why my earlier post was edited with the mention "link to another forum removed" as I posted no such link. Maybe some misunderstanding.

What I did post was a suggestion to look at the building called "Reflections", situated at the end of Jomtien Beach Rd. This building has the afore-mentioned maid's quarters and open-air kitchens in the larger units.

As for the gem about pool tables, I have personally seen several condo units in greater Pattaya where the owner has his own full-sized pool table in one room, and no shortage of other rooms to their names. Even in my own building there are at least two owners with their own full-sized pool tables. Not my cup of tea but certainly possible.

And I have also seen private pools in some condo units here.

So one should not imagine that "condo" necessarily means a 25sqm bolt-hole at under 1MB, any more than one should imagine that all houses are grotty little places on Nern Plub Wan, or 50MB mansions. Plenty are, and plenty are not.