Premium Paid for Condo$ in Foreign Name ?

[50baht]

Seems prices are higher for Condos in Foreign name and would be silly to

buy and put in Thai name ?

So if Condo is going to be in Thai wifes name should we buy from a Thai

because the price will be lower ?

.

[50baht]

no answers ? maybe this site is not going to tell the inside story of realestate transactions in Thailand ?

simple question..not simple answer...seems to be just pay and shut up ? you farang you not know nutting ?

.../

[Swiss1960]

congratulations for finding that out...

yes, condo in the 49% foreigner quota of a building are priced higher, just because that is the only way you as a foreigner can buy... so the seller CAN ask more... simple really...

if you have a Thai wife and you trust her fully, buy a condo in the same block out of the 51% Thai quota and save money... and wish you to be safe always with your wife, because now you basically made her a present which - if you are unlucky - she can keep after she kicked your ass out of the door...

you want to own a condo for yourself in your name? Pay the premium....

[hhgz]

"no answers ? "

No reason to. You have your perspective, and you're looking for agreement.

[fang37]

I suggest - BS!

[Sophon]

Like with anything else it's a question of supply and demand. If there are more foreigners wanting to buy than there are units available in the foreign quota, then such a unit can demand a premium price. In a condo building where they have not reached the foreign quota limit a foreigner can buy any unit available, so a foreign seller can not ask for a premium. If he does, you would just buy a Thai owned unit instead.

So yes, in some buildings you could buy a Thai owned unit cheaper than a foreign owned one. But remember, if the day comes where you want to sell, you will also get less for your unit. Plus you will only be able to sell to Thais, which might in some cases make your unit all but unsellable.

Sophon

[Om85]

I think that you should buy on your name, because as the Thai say: anakod mai nae(อนาคตไม่แน่) another option is if you have children with her you can buy the condo on your children's name.

[50baht]

Like with anything else it's a question of supply and demand. If there are more foreigners wanting to buy than there are units available in the foreign quota, then such a unit can demand a premium price. In a condo building where they have not reached the foreign quota limit a foreigner can buy any unit available, so a foreign seller can not ask for a premium. If he does, you would just buy a Thai owned unit instead.

So yes, in some buildings you could buy a Thai owned unit cheaper than a foreign owned one. But remember, if the day comes where you want to sell, you will also get less for your unit. Plus you will only be able to sell to Thais, which might in some cases make your unit all but unsellable.

Sophon

thank you great answer

[blackcab]

Like with anything else it's a question of supply and demand. If there are more foreigners wanting to buy than there are units available in the foreign quota, then such a unit can demand a premium price. In a condo building where they have not reached the foreign quota limit a foreigner can buy any unit available, so a foreign seller can not ask for a premium. If he does, you would just buy a Thai owned unit instead.

So yes, in some buildings you could buy a Thai owned unit cheaper than a foreign owned one. But remember, if the day comes where you want to sell, you will also get less for your unit. Plus you will only be able to sell to Thais, which might in some cases make your unit all but unsellable.

Sophon

thank you great answer

As had been pointed out, asking a premium for a foreign owned condo only applies if the foreign quota is full.

How often does this situation arise? Perhaps that should be your next question.

[HampiK]

no answers ? maybe this site is not going to tell the inside story of realestate transactions in Thailand ?

simple question..not simple answer...seems to be just pay and shut up ? you farang you not know nutting ?

You very fast in complaining! This few hours you should invest in the search function instead complains.

And I think i understand why most people not want to answer a question like this because first it was explained already many times and secondly your post not sounds very sincere.

Short answer... if there are too many farangs who want buy then yes in thai name could be cheaper (for example in pattaya). If there are enough thais who also buy then the price should be the same.

[PattayaPhom]

Its not paying a premium for Foreign owned, its Thai quota is discounted. Trust that clarifies the situation.

[arunsakda]

In condo projects where there is strong foreign interest and reach a 49% cap, the remaining units must get flogged off at a discount to Thais. That might sound good to buyers but, and the developers who get a premium from Foreigners. However this lowers the value and appreciation potential of the remaining units does it not? I have suggested to certain people that such a market distortion that may be counterproductive over time and perhaps should be re-thought out.

Edited October 2, 2015 by arunsakda

[VIPinthailand]

fix your price yourself like :" I want a 40 % discount or no deal, another company is offering me already 30%"

I bought already 3 condos like that... at discount price.

Edited October 2, 2015 by VIPinthailand

[sotsira]

Its not paying a premium for Foreign owned, its Thai quota is discounted. Trust that clarifies the situation.

Typical answer from an estate agent.

How about looking at it this way,

the Thai quota is the real market value price and the foreign quota is overpriced!

[Mousehound]

The correct price of anything on the open market is the price you are prepared to pay. After all no one is forcing you to buy. If a product is overpriced it wont sell. If it priced right for some one it will. Simple.