cost of real estate on Thai visa

[kooka]

I've been reading Thai visa now for 8 years, since I won the jackpot and married a Thai lady.

I figure it is time to put my two bobs worth in

I know you blokes can be a bit touchy, so here goes.

Wife's family own farms up country (rubber, palm and a bit of mixed farming)

Also based in Bkk (seems to be pretty common)

Luckily I slipped the noose on the first girl, who was from Issan, and found a beauty from the south.

What I wanted to mention is, the price of real estate seems to be well over the money on TV.

The father in law is in the business, and the prices which I see on Thai visa seem to be over the money

times two or three hundred per cent from what my Thai family are paying.

Wife says it is because they are advertising for farang.

I am always getting told when we are back there, to stay out of the shop,

because my face make the price go up.

Comments?

[trogers]

Prices of what???

[juehoe]

House and land prices are highly dependant from the location and building quality.

Foreigners often want a higher standard and that is more expensive. You can save a lot of money, if a standard Thai house is enough for you and you like to make repairs the whole time and by yourself. I have seen a lot of these houses in my spouse village. They look great when new, but after a few years...?

Of course you have to be careful. It can happen, that they ask for more money, because you a foreigner. So I send my spouse first. She also kept her Thai family name, which is a huge advantage when living in Thailand.

Edited March 17, 2016 by juehoe

[MaeJoMTB]

Foreigners pay 2x the going rate for everything.

Especially the ones daft enough to buy property.

They won't sell for less than they paid ...... unless totally desperate.

[Pib]

A lot of Thais would not even consider paying what some farangs pay for property simply because many Thais can not afford it or do not want to live where many farangs seem to concentrate. Yes, yes, there are a lot of rich Thais...I live in such a moobaan in Bangkok that has a lot of well-off Thai business owners and when buying their house in my moobaan they paid the same price that the farangs did.

[peterrabbit]

Crazy prices!

But TIT and the game is, (as has always been in the land of smiles), 'to find a buyer with too much money and relieve him of the burden'.

[A. BOOZER]

Sorry, but after 8+ years, I would have thought this might have dawned on you as a fact of life in Thailand.

[AlexRRR]

People being people where ever will try and get what they think they can, since there is no regulated body and regulated property agents its open slather, you just have to do your homework if you want to buy there.

[mike324]

200 to 300 percent ....increase just because you are a foreigner? no I don't believe its true if you are comparing market price. Perhaps if markted towards a farang, there could be an increase of 20-30%.

You would get a better answer if you are more specific on what you want to buy (house / land / condo) and where.

[WorkingTourist]

A lot of Thais would not even consider paying what some farangs pay for property […]

Same goes for some TV posters, in fact, I had a waiter from Chanthaburi reveal that her rent was more than what some TV posters insist can get you “a really nice place”

[worgeordie]

Thailand does not have an established real estate market,with

companies that have offices all over Thailand,or where you can

find someone to give you an honest and unbiased valuation on

any property.

Almost anyone here is an estate agent,from established shops,

to the corner shop,maids,Tuk Tuk drivers,anyone,a local maid

sold 3 houses last year,3-10 million THB,prices are not set in

stone,so lots of properties are well over priced,and are up for

sale for a long time.

You feel for the duped Farangs,trying to off load 15-20 Million

bhat houses in Issan,but Thais know theres always another

sucker flying in,its been going on for years,and will never stop.

A property is only worth what you feel its worth,just remember

Location,Location,Location,thats the most important thing.

property in a good location will always sell first.

regards Worgeordie

[2fishin2]

Thai Visa properties and prices are good. They show you how much to NOT pay for things.

[kooka]

Dear all

Thank you for going easy on me.

Some very considered and respectful replies, again my thanks.

So what do i know about buying property in Thailand?

Enough so I would never consider buying any property in Thailand, because I can't own the land.

Perhaps if I was a squillionaire I might consider an apartment, but I'm not so I won't.

In reply to trodgers question.

My understanding is that the cheapest apartments in Bkk, rat holes for sure, are available for 250,000 Baht

and can be rented for 4000 baht per month, which is by my Maths close to 15% return, pretty bloody good anywhere on the planet.

However as with all investments, high returns equals high risks.

What those risks are I don't know and don't intend to find out.

The in laws Bkk townhouse is in a soi off On Nut about 5 - 10 minutes from the BTS.

I would say 100 square metres up and down; living, kitchen and bathroom down stairs, two bedroom upstirs and another bathroom, room for a small garden or car in front.

Nice quiet soi, no through traffic, looks to be mostly Chinese Thai residents.

The one next to his is currently on the market for 2.5 million baht.

No I won't give anyone the address as they are currently negotiating, I believe, to buy it, they already own two.

Land down south where they have property is very dear; around 250,000 baht per rai with rubber or palm on it.

[trogers]

Dear all

Thank you for going easy on me.

Some very considered and respectful replies, again my thanks.

So what do i know about buying property in Thailand?

Enough so I would never consider buying any property in Thailand, because I can't own the land.

Perhaps if I was a squillionaire I might consider an apartment, but I'm not so I won't.

In reply to trodgers question.

My understanding is that the cheapest apartments in Bkk, rat holes for sure, are available for 250,000 Baht

and can be rented for 4000 baht per month, which is by my Maths close to 15% return, pretty bloody good anywhere on the planet.

However as with all investments, high returns equals high risks.

What those risks are I don't know and don't intend to find out.

The in laws Bkk townhouse is in a soi off On Nut about 5 - 10 minutes from the BTS.

I would say 100 square metres up and down; living, kitchen and bathroom down stairs, two bedroom upstirs and another bathroom, room for a small garden or car in front.

Nice quiet soi, no through traffic, looks to be mostly Chinese Thai residents.

The one next to his is currently on the market for 2.5 million baht.

No I won't give anyone the address as they are currently negotiating, I believe, to buy it, they already own two.

Land down south where they have property is very dear; around 250,000 baht per rai with rubber or palm on it.

A friend bought a townhouse inside Sukhumvit 69, less than 5 mins to BTS. Three floors with 4 bedrooms plus roof deck, over 200 sqm, valued at Bt12.5m. Currently renting out at Bt45k.

[mike324]

Dear all

Thank you for going easy on me.

Some very considered and respectful replies, again my thanks.

So what do i know about buying property in Thailand?

Enough so I would never consider buying any property in Thailand, because I can't own the land.

Perhaps if I was a squillionaire I might consider an apartment, but I'm not so I won't.

In reply to trodgers question.

My understanding is that the cheapest apartments in Bkk, rat holes for sure, are available for 250,000 Baht

and can be rented for 4000 baht per month, which is by my Maths close to 15% return, pretty bloody good anywhere on the planet.

However as with all investments, high returns equals high risks.

What those risks are I don't know and don't intend to find out.

The in laws Bkk townhouse is in a soi off On Nut about 5 - 10 minutes from the BTS.

I would say 100 square metres up and down; living, kitchen and bathroom down stairs, two bedroom upstirs and another bathroom, room for a small garden or car in front.

Nice quiet soi, no through traffic, looks to be mostly Chinese Thai residents.

The one next to his is currently on the market for 2.5 million baht.

No I won't give anyone the address as they are currently negotiating, I believe, to buy it, they already own two.

Land down south where they have property is very dear; around 250,000 baht per rai with rubber or palm on it.

2.5 million 5 minutes to BTS station, that is a very cheap price for a townhouse. If its 10 minutes away it seems about the right price 2.5-3 million. I've been lookin at townhouses around that area, 5minutes from BTS, average price seems to range from 7 million and up based on whats listed on thai sites and what I've seen posted around the area.

You can get farm land with chanotes for around 300,000 per rai just 1.5 hours away from sukhumvit.

[Don Mega]

My understanding is that the cheapest apartments in Bkk, rat holes for sure, are available for 250,000 Baht

and can be rented for 4000 baht per month, which is by my Maths close to 15% return, pretty bloody good anywhere on the planet.

decent return.

Edited March 22, 2016 by Don Mega

[KittenKong]

My understanding is that the cheapest apartments in Bkk, rat holes for sure, are available for 250,000 Baht

and can be rented for 4000 baht per month, which is by my Maths close to 15% return, pretty bloody good anywhere on the planet.

decent return.

If the purchase price is so low and the return so high, why aren't buyers all over these (thus pushing the price up)?

Makes no sense to me.

[trogers]

Dear all

Thank you for going easy on me.

Some very considered and respectful replies, again my thanks.

So what do i know about buying property in Thailand?

Enough so I would never consider buying any property in Thailand, because I can't own the land.

Perhaps if I was a squillionaire I might consider an apartment, but I'm not so I won't.

In reply to trodgers question.

My understanding is that the cheapest apartments in Bkk, rat holes for sure, are available for 250,000 Baht

and can be rented for 4000 baht per month, which is by my Maths close to 15% return, pretty bloody good anywhere on the planet.

However as with all investments, high returns equals high risks.

What those risks are I don't know and don't intend to find out.

The in laws Bkk townhouse is in a soi off On Nut about 5 - 10 minutes from the BTS.

I would say 100 square metres up and down; living, kitchen and bathroom down stairs, two bedroom upstirs and another bathroom, room for a small garden or car in front.

Nice quiet soi, no through traffic, looks to be mostly Chinese Thai residents.

The one next to his is currently on the market for 2.5 million baht.

No I won't give anyone the address as they are currently negotiating, I believe, to buy it, they already own two.

Land down south where they have property is very dear; around 250,000 baht per rai with rubber or palm on it.

2.5 million 5 minutes to BTS station, that is a very cheap price for a townhouse. If its 10 minutes away it seems about the right price 2.5-3 million. I've been lookin at townhouses around that area, 5minutes from BTS, average price seems to range from 7 million and up based on whats listed on thai sites and what I've seen posted around the area.

You can get farm land with chanotes for around 300,000 per rai just 1.5 hours away from sukhumvit.

Prices of townhouses near BTS that can be turned into home offices would see higher values...

[WorkingTourist]

If the purchase price is so low and the return so high, why aren't buyers all over these (thus pushing the price up)?

Makes no sense to me.

Of course there is the issue of not wanting to be a slumlord. The “rat holes” in Bangkok are for subprime renters where you will likely have to deal with evictions, noise complaints from other tenants, addicts, etc.

But also, as you hinted, the numbers are probably not entirely correct. 4.000 baht/month should buy you more than a “rat hole”. If you have no standard, a room in Bangkok can be had for less than 2.000 baht/month.

[theguyfromanotherforum]

I married a lady from the South, lives and works in Bangkok... family loaded with rubber trees and other stuff.... yada, yada, yada.....

I find that you slightly exaggerate when you say a "beauty from the south".