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Euro-account

jvs
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jvs Ruby Member

jvs

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About a year ago i opened a Euro-account and i have not used it a lot so-far but i do have some questions about it and some off you

may have more experience about how i can use it.

This just came up yesterday,if i sell my property here can i exchange the money into euros and put it in that account?

Because of the recent drop in the Euro i can sell for a lot lower price and still end up with the same amount of euros and take my chances with that but that of course is another story.

Being able to lower the price by 25% it may be a lot more attractive to Thai buyers?

Can you send money to Europe from a euro account?

Of course i can ask in the bank but i would like some info from people who have dealt with this,and of course the banks will be closed for a week.

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Swiss1960 Platinum Member

Swiss1960

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In theory yes, if you bought something a year ago for 100K € at 45 Baht/Euro (equal 4.5Mio Baht) and now you sell for 3.5Mio Baht at 35 Baht/Euro, you can get back your 100K Euro... in theory...

and in theory you attract more buyers, because more people have 3.5Mio to spend than people who have 4.5Mio Baht to spend... again in theory..

but... is your property worth 3.5Mio Baht TODAY? This and only this is the question. Maybe you bought an overvalued property with a huge depreciation within the first year and people might only offer you 2.5-3Mio today... since you did not say what kind of property and how well it is maintained, nobody can give you the answer in real... only in theory...

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Swiss1960 Platinum Member

Swiss1960

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The price of the property is not the issue,i would like to know if it is possibly to put the money into the euro-account.

Assuming the Euro account is with a Thai bank, then why should this not be possible?

Another question would be getting the money out of Thailand... as far as I know (and did read on many threads), there are restrictions about that and you would have to prove that the money for the initial property purchase did actually come from outside Thailand

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