Investing in property in thailand

[johnson36]

I just found this article that is recommending buying in Thailand

http://uk.finance.yahoo.com/news/amanda-lamb-five-places-invest-overseas-property-151244828.html

[Skint]

Its a load of <deleted>

[NCC1701A]

thanks for posting that article. by the time you see articles like this about any real estate "trend" it is way too late and is a really bad sign for that market. most of the information given in this article is incorrect as far as Thailand is concerned. (except for the part about all the Russians in Pattaya)

[sfokevin]

"Pattaya has a spent a lot of money on infrastructure"...

[johnnyk]

Typical superficial crap from someone working in a cubicle farm.

By all means retire to a 30K GBP "studio", er, room.

Edited August 13, 2013 by johnnyk

[johnson36]

Its a load of <deleted>

That is exactly what I thought

[djayz]

" as the Thai Government is easing restrictions for foreign ownership"... haven't seen/heard/experienced that yet... as other members have said "Total <deleted>!"...

[VBF]

I liked the bit that says "A typical completed studio will sell for £30,000, but investors who are prepared to take the risk can pick up a unit off –plan for £15,000..........."

She sort of forgot to mention that the risk that it may never be finished or that the developer may "lose" the deposit is considerable.

Buying off-plan has to be a no-no in Thailand, surely?

Edited August 14, 2013 by VBF

[guzzi850m2]

If you buy off plan from a trusted developer with a good record you should be okay, Nova group in Pattaya as an example.

Over 95% of the condominiums projects are build, it not like 50% crashes.

If you do your home work I don't see any great risk involved.

The people buying off plan are the ones making money on condos and in a very few cases looses all.

[monty]

If you buy off plan from a trusted developer with a good record you should be okay, Nova group in Pattaya as an example.  

 

Over 95% of the condominiums projects are build, it not like 50% crashes.

 

If you do your home work I don't see any great risk involved.  

 

The people buying off plan are the ones making money on condos and in a very few cases looses all.

Guess that's a little bit rosy.

Quite a few don't seem to start at all.

Ocean one probably the most notorious.

Lord knows how much deposits collected on that one.

Quite a few have delays, some of many years.

Some completed, but owners still don't have land title deeds (forcing them on temporary electric at double price)...

Many end up not being as advertised.

[PattayaPhom]

"Pattaya has a spent a lot of money on infrastructure"...

Taken 2010/2011 ??? irrelevent picture

[PattayaPhom]

Its a load of <deleted>

That is exactly what I thought

Why bother posting the article then.... working in Pattaya and knowing how it really is, not just from bar stool talk or from behind a keyboard, for every sad ass that knocks the market as they havnt any money, there is 100 eager buyers with bursting bank accounts.

[jack1964]

If you buy off plan from a trusted developer with a good record you should be okay, Nova group in Pattaya as an example.

Over 95% of the condominiums projects are build, it not like 50% crashes.

If you do your home work I don't see any great risk involved.

The people buying off plan are the ones making money on condos and in a very few cases looses all.

I just bought my second one through Nova off plan, and I am very happy with the company, the product, and I have had nothing but a sensational experience with them.

Investing in real estate in Thailand only needs (1) Research (2) A heap more research (3) The cash.

I made a profit on the first one, and the second is fast lining up to give me a good return. No worries at all.

[ozyjon]

I own property all over the world, i have decided to sell up and am in the process of doing so,, i have sold all my property in first world countries and the property i have left am having great difficulty in selling the rest, you know the story of how to make a small fortune in Thailand, today i would never buy property anywhere in the universe, i would rent and if i didn't like my neighbors, i would move, no painting, no maintenance and always have a new property, as the song goes "oh oh oh oh once bitten twice shy boy" you know the rest. Buying property today is not a good good financial decision if you are not in your own country,, too much political instability world wide, i want to keep my hands on my money at all times,,,, good luck to all...

[zeichen]

For every poster claiming to make money from reselling their condos there are probably 10 that lost money. Sometimes it amazes me how people confuse luck for skill or due diligence. Many countries have been having some serious property issues, Greece, Ireland, US, Spain. What country is next for a collapse? Property can be very risky or very profitable but in spite of anyone's best efforts it can go all bottoms up without notice. My sister bought her house for 250K dollars the next year the bank reassessed the area and her house was worth only 170k dollars, they foreclosed on her loan because she owed more than what the house was worth. I don't quite understand how a bank can do that, she paid her bills every month and was never late.

I like others don't see property as a great investment, but I do know that it can be. I have made money off a few land deals but I could have easily lost my shirt if I had waited a few months.

[Issangeorge]

My feeling about land is it should be bought for the next generation. Over the long term it always and I mean always goes up, but there can be a lot of fluctuations in it.

Sent from my i-mobile IQ 6 using Thaivisa Connect Thailand mobile app

[nycjoe]

China has "discovered" thailand last year the highest grossing film in china was lost in thailand. If they bring a high speed train to chiang mai and ASEAN goes into effect it could be a whole new ballgame.

I am way past the age of empire building and have recently sold my NYC property and I agree with ozyjohn. I have seen too many expats get seduced into property deals and lose their shirt, if you say you are looking for a condo in a crowded restaurant 10 guys will jump up and try to sell you theirs.

Laws can change in a heartbeat and it will never be in a foreigners favor. We are not considered anything but cash cows.

[guzzi850m2]

For every poster claiming to make money from reselling their condos there are probably 10 that lost money. Sometimes it amazes me how people confuse luck for skill or due diligence. Many countries have been having some serious property issues, Greece, Ireland, US, Spain. What country is next for a collapse? Property can be very risky or very profitable but in spite of anyone's best efforts it can go all bottoms up without notice. My sister bought her house for 250K dollars the next year the bank reassessed the area and her house was worth only 170k dollars, they foreclosed on her loan because she owed more than what the house was worth. I don't quite understand how a bank can do that, she paid her bills every month and was never late.

I like others don't see property as a great investment, but I do know that it can be. I have made money off a few land deals but I could have easily lost my shirt if I had waited a few months.

I tend to agree to that.

My 9 mill bath house was not bought as an investment as such but as a nice place for my family to live in. The land is not mine anyway, lol.

This house will be good for my wife when I die (I am 15 years her senior), she can sell it and support herself and our son or perhaps keep it (up to her).

Condos and houses can be extremely difficult to sell without a loss, you have to buy something that is at a very good location and at the right price or you will loose money in most cases.

Some smart off-plan buyers can make money sure but they have carefully checked everything and know somebody that knows somebody.

I am not gonna invest in property here in Thailand, I am only a guest here. I don't think they will make it more difficult for foreigners to live/invest here in the future unless they are real stupid but still I am only a guest, I will never be Thai.

I am by no means a doomsday prepper but lets face it, climate change is happing and if you are renting you can pack your suit cases and move on if the shit hits the fan.

If I was living alone here in Thailand I would be renting for sure and keep my money out of Thailand.

[KittenKong]

..... working in Pattaya and knowing how it really is, not just from bar stool talk or from behind a keyboard, for every sad ass that knocks the market as they havnt any money, there is 100 eager buyers with bursting bank accounts.

Yeah, and the bulk of them either "flippers" hoping for a quick buck or newbies fresh off the banana boat.

I've met people who on just their second trip to Thailand "invested" in multiple units off-plan that they intend either selling on or renting out and personally I dont think either is going to happen, at least not at a profit.

And of course it will be because of all those "eager buyers" that one large Pattaya property website has 8000+ condos listed for sale, and it's also why the building developers are doing fancy one-off party promotions of free cars and 30% discounts in order to shift off-plan units.

And if these condos are such a sure-fire investment I'm a bit surprised that so many agents spend their time selling them to other people rather than just buying them themselves.

[BlackJack]

I own property all over the world, i have decided to sell up and am in the process of doing so,, i have sold all my property in first world countries and the property i have left am having great difficulty in selling the rest, you know the story of how to make a small fortune in Thailand, today i would never buy property anywhere in the universe, i would rent and if i didn't like my neighbors, i would move, no painting, no maintenance and always have a new property, as the song goes "oh oh oh oh once bitten twice shy boy" you know the rest. Buying property today is not a good good financial decision if you are not in your own country,, too much political instability world wide, i want to keep my hands on my money at all times,,,, good luck to all...

like the guy that built his million dollar dream home and then the karaoke bar started next door

[davejones]

I own property all over the world, i have decided to sell up and am in the process of doing so,, i have sold all my property in first world countries and the property i have left am having great difficulty in selling the rest, you know the story of how to make a small fortune in Thailand, today i would never buy property anywhere in the universe, i would rent and if i didn't like my neighbors, i would move, no painting, no maintenance and always have a new property, as the song goes "oh oh oh oh once bitten twice shy boy" you know the rest. Buying property today is not a good good financial decision if you are not in your own country,, too much political instability world wide, i want to keep my hands on my money at all times,,,, good luck to all...

But how do you protect your cash? If inflation takes off, then your money will mostly disappear. Savers are already losing money in many countries with inflation well above bank interest rates. London property is appreciating in leaps and bounds. I'd rather own there than hold cash, which is currently a depreciating asset.

But agree with you about property investing being risky in many countries at the moment. That's sometimes where you find bargains, but unfortunately many properties still seem overpriced.

[cent1]

"Pattaya has a spent a lot of money on infrastructure"...

Looks like the back of my house but in 6 months it will be great, look forward not back

[PattayaPhom]

..... working in Pattaya and knowing how it really is, not just from bar stool talk or from behind a keyboard, for every sad ass that knocks the market as they havnt any money, there is 100 eager buyers with bursting bank accounts.

Yeah, and the bulk of them either "flippers" hoping for a quick buck or newbies fresh off the banana boat.

I've met people who on just their second trip to Thailand "invested" in multiple units off-plan that they intend either selling on or renting out and personally I dont think either is going to happen, at least not at a profit.

And of course it will be because of all those "eager buyers" that one large Pattaya property website has 8000+ condos listed for sale, and it's also why the building developers are doing fancy one-off party promotions of free cars and 30% discounts in order to shift off-plan units.

And if these condos are such a sure-fire investment I'm a bit surprised that so many agents spend their time selling them to other people rather than just buying them themselves.

Maybe that is your perception but all the resale properties have already sold this month all for more than the owners originally paid. Those eager buyers don't want shoebox condos, they want quality property in a good location which in my experience normally sells quickly at a profit.

[Naam]

I own property all over the world, i have decided to sell up and am in the process of doing so,, i have sold all my property in first world countries and the property i have left am having great difficulty in selling the rest, you know the story of how to make a small fortune in Thailand, today i would never buy property anywhere in the universe, i would rent and if i didn't like my neighbors, i would move, no painting, no maintenance and always have a new property, as the song goes "oh oh oh oh once bitten twice shy boy" you know the rest. Buying property today is not a good good financial decision if you are not in your own country,, too much political instability world wide, i want to keep my hands on my money at all times,,,, good luck to all...

like the guy that built his million dollar dream home and then the karaoke bar started next door

only an idiot builds a million dollar dream home in Thailand outside a top rated gated community where strict regulations apply and are enforced.

[BlackJack]

I own property all over the world, i have decided to sell up and am in the process of doing so,, i have sold all my property in first world countries and the property i have left am having great difficulty in selling the rest, you know the story of how to make a small fortune in Thailand, today i would never buy property anywhere in the universe, i would rent and if i didn't like my neighbors, i would move, no painting, no maintenance and always have a new property, as the song goes "oh oh oh oh once bitten twice shy boy" you know the rest. Buying property today is not a good good financial decision if you are not in your own country,, too much political instability world wide, i want to keep my hands on my money at all times,,,, good luck to all...

like the guy that built his million dollar dream home and then the karaoke bar started next door

only an idiot builds a million dollar dream home in Thailand outside a top rated gated community where strict regulations apply and are enforced.

not so

if you know anything about physics you will enerstand the following:

Your gated community logic only applies if you live in a vacuum.

Too add to the issue you might replace Karaoke with the idiot next door with yapping dogs ;-)

[KittenKong]

"Gated communities" (or housing estates, as I call them) here seem to be very densely packed and rarely have plots of the size that I would like in order to put me at a suitable distance from my neighbours. And all the ones I have ever visited here seem to be blighted by barking dogs and screaming kids, both of which are intolerable noises as far as I'm concerned.

[davejones]

"Gated communities" (or housing estates, as I call them) here seem to be very densely packed and rarely have plots of the size that I would like in order to put me at a suitable distance from my neighbours. And all the ones I have ever visited here seem to be blighted by barking dogs and screaming kids, both of which are intolerable noises as far as I'm concerned.

You have obviously only been around the lower end of the market. Try a more expensive place and you won't find any dogs or screaming kids. Many gated communities are very peaceful. You could make the same comment of almost any country. Even in USA and UK you will get barking dogs and screaming kids on many estates. It doesn't follow that all areas are like that. Same in Thailand.

[davejones]

..... working in Pattaya and knowing how it really is, not just from bar stool talk or from behind a keyboard, for every sad ass that knocks the market as they havnt any money, there is 100 eager buyers with bursting bank accounts.

Yeah, and the bulk of them either "flippers" hoping for a quick buck or newbies fresh off the banana boat.

I've met people who on just their second trip to Thailand "invested" in multiple units off-plan that they intend either selling on or renting out and personally I dont think either is going to happen, at least not at a profit.

And of course it will be because of all those "eager buyers" that one large Pattaya property website has 8000+ condos listed for sale, and it's also why the building developers are doing fancy one-off party promotions of free cars and 30% discounts in order to shift off-plan units.

And if these condos are such a sure-fire investment I'm a bit surprised that so many agents spend their time selling them to other people rather than just buying them themselves.

Maybe that is your perception but all the resale properties have already sold this month all for more than the owners originally paid. Those eager buyers don't want shoebox condos, they want quality property in a good location which in my experience normally sells quickly at a profit.

Very true. But most on here seem to only know people that bought tiny, overpriced condos that they had to sell at a loss. Location, location, location is true the world over. The that message seems to be lost on most people here.

[zeichen]

I don't think you guys have ever been to the high end gated communities. I was in one in Bangkok where every house was 30million baht or more. They had a few ambassadors, and top execs from international companies. You couldn't even get in without a guest pass. No dogs barking no commercial business allowed.

Even here in Chiang Mai my sister in law just dropped 6 million baht on a 1/2 rai piece of land because the community was restrictive and highly enforced.

Her monthly community fees are more than what some single guys pay for rent a month.

I agree with Naam, I wouldn't spend 20-30 million baht on a house and property unless I knew that the area was well restrictive.

I have friend that built a pretty nice house for about 8 million baht but then the next year the community owner built a water tower across from his house. I would go nuts hearing the pumps running 24 hours a day.

[KittenKong]

Maybe that is your perception but all the resale properties have already sold this month all for more than the owners originally paid. Those eager buyers don't want shoebox condos, they want quality property in a good location which in my experience normally sells quickly at a profit.

Very true. But most on here seem to only know people that bought tiny, overpriced condos that they had to sell at a loss. Location, location, location is true the world over. The that message seems to be lost on most people here.

A friend sold his very nice 80sqm unit in one of Jomtien's busiest and most popular condo buildings recently for less than he bought it for 7 years ago. Another friend in the same building has his large 110sqm condo for sale for nearly 20% under the price he paid for it new. No takers so far.

So even with the right location you may not get your money back.