Another house for sale

[icare999]

No mystery about it.

The majority of farangs here are buying real estate illegally, ...

'The majority'

Now ... I like a good story ... any reference to back your statement?

Just references ... no observations please ... I like facts.

Fact: since a foreigner can't own land, all the methods circumventing the prohibition, are in fact illegal and unsecure. Debate on that.

Sure ... is all Real Estate a House?

Many Westeners buy Condos/Apartments ... depending on your terminology.

I have a University Degree in Property.

When you are ready to play in the Big League ... drop by and have a chat.

Till then ... back on your bike paz

To the OP ... great topic BTW ...

<deleted> are you on about or are you on meds What on earth has buying a condo which is legal if less than 49% owned got to do with illegality of any forang buying land. Take that in your pipe and smoke it. Degree in property morel like degree in crap

[David48]

<deleted> are you on about or are you on meds What on earth has buying a condo which is legal if less than 49% owned got to do with illegality of any forang buying land. ...

Just removed a bit of the noise.

Would any other poster like to illuminate icare999 that you can actually own a condo in your own name?

[David48]

... I have a University Degree in Property.

I don't really want to join the bun fight but what may I ask is a "Degree in Property"?????

Happy to oblige.

Business Degrees come in all different forms.

If you complete a Business Degree with a major in Accountancy you have an Degree in Accountancy or an Accountancy Degree ... depending on your semantics.

Ditto with a University Degree in Property.

We typically go on to work for

• Banks,
• Property Developers in both residential and commercial areas,
• Manage Larger Shopping Centres,
• Work for Transport Departments (not sure of your local terminology) taking care of acquisitions and disposals,
• Government Departments who place a value on your land,
• Housing Departments who deal with Public Housing,
• Public Trustees who deal with disposal of deceased Estates.
• Charities with large land holdings ... you would be amazed what the Catholic Church owns ...

Many of us go onto to work for private valuation firms, as I have done for many years.

Sadly maprao, your post shows more about who you are then who I am.

I do note that you failed to give an insight to your education?

.

[David48]

To icare999 ... have a look at the pinned topic in the Real Estate Forum ... the-condominium-act-and-definition-of-a-condominium-in-thailand/ ... it might enlighten you.

Now that we have sorted those two small issues ... let's get back to the question of for sale / abandoned new and newish houses we see dotting the countryside that the OP wishes to discuss ...

[StreetCowboy]

...I don't really want to join the bun fight but what may I ask is a "Degree in Property"?????

...I do note that you failed to give an insight to your education?

.

"?????"

I thought that was insight enough.

SC

[Skint]

... I have a University Degree in Property.

I don't really want to join the bun fight but what may I ask is a "Degree in Property"?????

Happy to oblige.

Business Degrees come in all different forms.

If you complete a Business Degree with a major in Accountancy you have an Degree in Accountancy or an Accountancy Degree ... depending on your semantics.

Ditto with a University Degree in Property.

We typically go on to work for

• Banks,
• Property Developers in both residential and commercial areas,
• Manage Larger Shopping Centres,
• Work for Transport Departments (not sure of your local terminology) taking care of acquisitions and disposals,
• Government Departments who place a value on your land,
• Housing Departments who deal with Public Housing,
• Public Trustees who deal with disposal of deceased Estates.
• Charities with large land holdings ... you would be amazed what the Catholic Church owns ...

Many of us go onto to work for private valuation firms, as I have done for many years.

Sadly maprao, your post shows more about who you are then who I am.

I do note that you failed to give an insight to your education?

.

Nice bitch slap!

[Forethat]

... I have a University Degree in Property.

I don't really want to join the bun fight but what may I ask is a "Degree in Property"?????

Happy to oblige.

Business Degrees come in all different forms.

If you complete a Business Degree with a major in Accountancy you have an Degree in Accountancy or an Accountancy Degree ... depending on your semantics.

Ditto with a University Degree in Property.

We typically go on to work for

• Banks,
• Property Developers in both residential and commercial areas,
• Manage Larger Shopping Centres,
• Work for Transport Departments (not sure of your local terminology) taking care of acquisitions and disposals,
• Government Departments who place a value on your land,
• Housing Departments who deal with Public Housing,
• Public Trustees who deal with disposal of deceased Estates.
• Charities with large land holdings ... you would be amazed what the Catholic Church owns ...

Many of us go onto to work for private valuation firms, as I have done for many years.

BProp Auckland?

[David48]

^^ Close ... Australia.

But let's not make this about me please.

I was enjoying the OP and was just trying to clear a few miscomprehensions.

[ExpatOilWorker]

Rhek Thum is a small town of about 3000. No other farang here, just me, so I can't comment on that perspective.

But, in the last year, at least two dozen nicer houses have been built here. They sit empty.

I asked the GF.

She said they borrowed money from the bank to build, but the banks won't lend for a houseful of furniture and appliances, and Thais won't put in used furniture or TVs or whatever-- bad luck, you know --- and don't have the cash to buy new.

Until then, they will remain, well, new.

You live in Rektum?

That place is a bit backwards.

[bunnydrops]

"I live in RekTum" I think I would have to change the name.

I live in a very small village. There are about 3 or 4 small houses for sale here. One built by a German that had to return to Germany due to health reasons. The houses have been sitting empty for the 3 years I have been here. My wife also tells me that Thais will usually build new instead of buy. But here is not where people move to to for no reason. This is a farming village. If they need a new house they build it on their own land. They will buy a new rice paddy but never/ rarely a house.

[Issangeorge]

27 years ago there was a development of 6 houses on the beach on Koh Samui. All 3 big bedrooms with on suit bathrooms, a large kitchen, and greatroom and carport. Less than 5 metres from the beach. They were beautiful homes and only one was lived in. I asked the person who lived there what the story was. She said that a godfather (mafia) in Chaeng Mai, built thrm and told (TOLD) his friends to buy one. The last time I was there through neglect they were all falling down.

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

[NanLaew]

What is the asking price for the house in the picture?

If you have to ask...

[kannot]

Thais don't by second hand houses.....here they do it all the time.....and often at a price you could build a new one.

Yes this is one myth that needs putting to bed..................having said that I do see a big crunch coming in Thailand it seems everything is borrow borrow borrow.

[kannot]

What needs to be determined is the country of origin of the fools who build houses and expect to be loved.................lol. I dont see many african, indians, asians,etc. doing the house shit. Whtas wrong with these cultures.................lol.?

Whats so hard to understand about THAI culture? Villagers arent gonna say NO if a farang is gonna build them a house. The culture that needs to be understood are the mens culture-what makes them do what they do....................lol.

There is an Indian man near us who has done just this, they do exist but maybe you just dont see them?

[maprao]

Someone please post a a link where I can study for a Degree in Property as posted earlier.

I hope that they teach to read the land ownership and condo laws in countries where you will be applying this vast knowledge! I re-post my with even more confidence.

[arthurwait]

What needs to be determined is the country of origin of the fools who build houses and expect to be loved.................lol. I dont see many african, indians, asians,etc. doing the house shit. Whtas wrong with these cultures.................lol.?

Whats so hard to understand about THAI culture? Villagers arent gonna say NO if a farang is gonna build them a house. The culture that needs to be understood are the mens culture-what makes them do what they do....................lol.

There is an Indian man near us who has done just this, they do exist but maybe you just dont see them?

Some SIngaporen had bought a beach front house at an estate we looked at for IIRC 24 MB , where he stayed with his gig while in Thailand, told to us by the estate agent showing us the house. Obviously he can't own it himself so........

Not sure but I think it was the one I saw advertised about a year later for 11Mb.

Indian guy who can't handle his ale sat telling us his tattoed Esarn girlfriend who was with him worked in a bank where they met. Unfortunately for him his mate owned the bar and didn't like him much and had already told my mate who managed it that they met in a bar on Cowboy after a previous time of him not being able to handle his ale.

Ex- bargirl staying with a bloke whose not paying her ? Not likely.

[paz]

No mystery about it.

The majority of farangs here are buying real estate illegally, ...

'The majority'

Now ... I like a good story ... any reference to back your statement?

Just references ... no observations please ... I like facts.

Fact: since a foreigner can't own land, all the methods circumventing the prohibition, are in fact illegal and unsecure. Debate on that.

Sure ... is all Real Estate a House?

Many Westeners buy Condos/Apartments ... depending on your terminology.

I have a University Degree in Property.

When you are ready to play in the Big League ... drop by and have a chat.

Till then ... back on your bike paz

To the OP ... great topic BTW ...

You may have got the degree, but with lack of reading skills. I wrote land. That's not "terminology", when you own an condo (within the strict conditions of law) you don't own the land on which it is built, and will be paying admin fees that who does will command, forever. Some are happy like that, good for them.

Go back to you tricycle now

[David48]

... when you own an condo (within the strict conditions of law) you don't own the land on which it is built, ...

No argument there.

Apologies if I appeared strong in my wording in an earlier post ...

[Khun Jean]

The Thais don't buy second hand story is only valid in areas where lots of land is available.

I also would not buy second hand when i can buy a piece of land in the same area and build a new house for about the same price. I must say, those Thais are very smart.

The moment land gets scarce you have no choice and most if not all that gets sold is second hand.

The price of a house is also directly related to the land it sits on.

It is not the house itself that gets worth more, it depreciates with time.

The land however gets more expensive as empty land gets more scarce.

Many times so much more that it will compensate for the loss on the house.

Build a 11 MB house on a 1MB piece of land and it will take forever, probably not in your livetime to make a profit.

However build a 1MB house on a 11MB piece of land on a good location and you will make a very decent profit in a short time.

My personal ratio is to not spend more money on a build then 50% of the price of the land.

If it is someplace you are certain you want to call home it is a different story of course. Then all logic goes out of the window.

Most foreigners do not make that distinction because they are used to land being scarce and somehow think that houses go up in price. Thais still have it right.

It is one of the reasons i like older condominiums. Often the foreigner percentage is low so buyinf it freehold is no problem.

The price per square meters which directly relates to how much land you legally own is low.

Some older buildings in Bangkok sit on land that is worth hundreds of millions.

As such they are a good investment. Ad because they are oftne in ok locations, renting them out is also not difficult.

In areas like mentioned in the OP have lots of land available. So selling a big house will be almost impossible. Renting it out will only give you a little income and a lot of headaches.

If you are a foreigner your best bet is still to buy a condominium.

[ozyjon]

Like the guide ! Tell us more about her? And where is this ?

This lady is a wonderful and caring lady, single, no children from a wealthy family but very modest herself,, i can arrange an introduction if you wish, my pleasure.

[ozyjon]

Thais don't by second hand houses.....here they do it all the time.....and often at a price you could build a new one.

Thai Chinese buy secondhand houses for renting out.

Thais probably are now with the ridiculous asking prices for new, very cheaply made, squashed together houses being made now.

I see many of these type of houses in my district, Ban Khwao, Chaiyaphum, i will try to take a photo and post it,

[ozyjon]

OP where is "my village"?

Sorry for not stating it before but it is Ban Khwao, Chaiyaphum,

[ozyjon]

What is the asking price for the house in the picture?

I enquired about the asking price and was told 6 million but i have now been told it is advertised on Thaivisa for 5.5 Million,, i really hope it sells just to keep the "New Look" appearance as many houses here are overgrown with weeds.

[ozyjon]

Many Thais buy houses that they don't need, in my village there are 3-4 large houses I know about that just sits empty, never been lived in.

They consider it as an investment never mind they will have to wait +10 years selling it, property taxes are very low here.

Price for land in Pattaya goes up each year, in my village (inside of Sukhumvitt road) the price for one wah have gone up from 25k baht to 50k baht is 3 years, I am lucky my house (or my wife's) house was bought when it was cheap, I bet I will easily get my money back if we desided to sell.

My old house (I bought it new) in the same village was by the way sold to a Thai family, the monks told them it's good, so they bought it .

Didn't earn much on it but living for free in it for 3 years and perhaps 1-200k baht in the bank .

As a builder, the problem i see with new houses is that they need maintenance, every house in the world needs upkeep and if left empty i think the upkeep will be higher, i see houses that are falling apart and vegetation growth overtaking the property therefore a new house will deteriorate and the value deminish considerably and the apeal to a buyer will disapear so there will be a very or no profit to be made, bad business sence i think.

[HardenedSoul]

Like the guide ! Tell us more about her?

Are you freakin' serious??!!

[rgs2001uk]

Many Thais buy houses that they don't need, in my village there are 3-4 large houses I know about that just sits empty, never been lived in.

They consider it as an investment never mind they will have to wait +10 years selling it, property taxes are very low here.

Price for land in Pattaya goes up each year, in my village (inside of Sukhumvitt road) the price for one wah have gone up from 25k baht to 50k baht is 3 years, I am lucky my house (or my wife's) house was bought when it was cheap, I bet I will easily get my money back if we desided to sell.

My old house (I bought it new) in the same village was by the way sold to a Thai family, the monks told them it's good, so they bought it .

Didn't earn much on it but living for free in it for 3 years and perhaps 1-200k baht in the bank .

As a builder, the problem i see with new houses is that they need maintenance, every house in the world needs upkeep and if left empty i think the upkeep will be higher, i see houses that are falling apart and vegetation growth overtaking the property therefore a new house will deteriorate and the value deminish considerably and the apeal to a buyer will disapear so there will be a very or no profit to be made, bad business sence i think.

i see houses that are falling apart and vegetation growth overtaking the property therefore a new house will deteriorate and the value deminish considerably

The value of the property isnt in the value of the house, its in the value of the land.

As a builder

No offence, whereabouts in Bkk are you building houses?

If you know Bkk well, you will know many Thais buy second hand homes that are falling apart, only based on the price of the land.

There are house that sold for about 400k 25-30 years ago, these houses now falling apart are changing hands for at least 4 million baht.

The reason, its cheaper to buy a block of land, trash the house and erect a new one, a decent house self built can cost about 10 million, bought new from a developer with less land and to a lesser spec,15 million

if left empty i think the upkeep will be higher

See above.Cheaper to do no upkeep, upkeep doesnt add to the value of the land.

[rgs2001uk]

^^^^, edit to the above, there is at least one poster on line whose views I respect, he may not agree with the following but he should at least know hwere I am talking about.

If you want to see houses that are falling apart, take a left into Rama 4 from Suk Rd and head towards Lumpini, just about when you hit Klong Toey, have at look at those wooden shacks that are falling apart.

No one is buying them for their aesthetic value, its the value of the land they sit on that makes them attracive.

[kannot]

What needs to be determined is the country of origin of the fools who build houses and expect to be loved.................lol. I dont see many african, indians, asians,etc. doing the house shit. Whtas wrong with these cultures.................lol.?

Whats so hard to understand about THAI culture? Villagers arent gonna say NO if a farang is gonna build them a house. The culture that needs to be understood are the mens culture-what makes them do what they do....................lol.

There is an Indian man near us who has done just this, they do exist but maybe you just dont see them?

O ne by me too keeps himself to himself.....good for him.

[tim armstrong]

If you really want to see this process on a big scale, go for a drive around Thana city - its near Suvarnabumi airport, it is a kind of gated community with a good golf couse. It has many large condo blocks and extremely large houses, all empty, built on spec. when the airport opened. But no one seems to want to live there. Many of the houses have just been abandoned

[swissie]

No mystery about it.

The majority of farangs here are buying real estate illegally, not entitled to own the land under Thai law; they are just the financial backers using Thai people as upfront purchasers and owners.

Then in many cases the crap hits the fan. Little wifey suddenly decides that Khun Farang hubby has because superfluous to her needs if he becomes down on his luck or once he has exhausted all his funds on her, or she decides she doesn’t really Fancy her aging farang husband after all and he has fulfilled his purpose to her, and then it becomes a grab for all by the ex-wife, her hanger on Thai boyfriend and her family. In the cases where the Thai woman is a girlfriend and not legally married to the farang, then it`s wham, bam thank you Farang, most grateful for the your kind gifts, you vely kia man, now go away please, as I want to move on with my life.

Sometimes the illegal farang owners for a multiple of reasons, such as failed business ventures, loss of their teaching jobs and so on, can no longer support themselves in Thailand and after fruitlessly trying to sell the properties, end up abandoning everything and leaving the country.

Sometimes the properties, perhaps for property speculating, can be purchased by farangs in the names of their Thai wives as an investment, while the happy married couple live abroad.

The above are the main reasons why I would never buy land and property from farangs in Thailand, because the ownerships are illegal and could have serious repercussions on the new purchasers later on.

Hands up please, all those who have personally experienced any of the above?

Strictly to the "Mod's" :

Above thread by "Beetlejuice" should be "Pinned" and made a "Must read" for new members to this Forum. = If "no read", log-in should be denied.

In a nutshell: Above comment contains everything a new member (or a new resident to Thailand) needs to know as a starting point.

Cheers.