Would you buy a property in Thailand?

[Mato6129]

Hi everyone,

I have been visiting Thailand (Pattaya) for many years but for the last 6 years, do not get involved in the 'normal' (whatever you class as normal) activities of Pattaya...

I rent a nice 2 bed over in East Pattaya (The Dark side) and am now looking into buying a place....

My questions is this, 'Would you buy a property in Pattaya'?

Thanks in advance,

Mat

[theguyfromanotherforum]

If not normal activities then what's the point?

[rgs2001uk]

Yeah sure, buy as many as you can get your hands on, cant go wrong, heck some are even advertising 10% returns, you know you want to, you know it makes sense, just do it.

[stoneyboy]

By normal activities do you mean paying prostitutes for sex ?

I assume you do and what difference does what you do in Pattaya make to buying a property there.

Surely the best person to answer your question is yourself.

What reasons do you for see for not buying one ?

What are the risks to you ?

You decide.

Edited April 26, 2016 by stoneyboy

[BrainLife]

Personally I would say NO, but it all depends on your needs.

I prefer to just rent, because I like my freedom. I can leave tomorrow if I want (OK loose a few thousand deposit, who cares).

On the other hand if you really can afford the risk and the holding on to property, some times years, go for it.

Also your age is important, you need to rent 20-30 years before you come to the purchase price (probably excluding additional buyers costs over the years).

For me the only reason not to buy is the freedom, not being attached to anything (beside a lives partner, but they can relocate with me).

[TuskegeeBen]

Buy a condo (in your name only) for personal use. The ROI on (non-syndicated) rental property purchases, is an estimated 30+years (as stated in post #5).

If you're operating as a solo investor, then don't do it. Let a word to the wise, be sufficient.

Edited April 26, 2016 by TuskegeeBen

[kannot]

Buy a condo (in your name only) for personal use. The ROI on (non-syndicated) rental property purchases, is an estimated 30+years (as stated in post #5).

If you're operating as a solo investor, then don't do it. Let a word to the wise, be sufficient.

depending where.when and what you bought I got my ROI back in 7 years......its currently not good so though.

Bought 2006 BKK £=72 baht ,sold 2013 at profit and 7 years rent at +10% rent was 15k a month and each condo cost 1.1million, overall good roi, not do-able now, 5% is with "care" in what u buy

[anotheruser]

The agent that showed me the condo I live in said if I bought at Circle Petchaburi he could guarantee me 5%. He assured me it would cost me no less than 10,000,000 I say go for it life is all about living. Let the doubters doubt.

[KittenKong]

depending where.when and what you bought I got my ROI back in 7 years......its currently not good so though.

Bought 2006 BKK £=72 baht ,sold 2013 at profit and 7 years rent at +10% rent was 15k a month and each condo cost 1.1million, overall good roi, not do-able now, 5% is with "care" in what u buy

You could have just as easily bought when 1GBP was 45B, sold at a loss 7 years later, had a selection of non-paying and destructive tenants (or no tenants at all) and been cheated left right and centre by your rental agency and lawyer.

I dont think that Thai property is a very good investment at all.

[KittenKong]

Some proverbs that should be pinned at the top of this page:

"In Thailand only invest money that you can afford to lose."

"Property in Thailand is very easy to buy and very hard to sell."

"Everyone lies."

[siamcrut]

In Bangkok yes, but not in Pattaya. There I would rent a place for holiday.

[DILLIGAD]

The agent that showed me the condo I live in said if I bought at Circle Petchaburi he could guarantee me 5%. He assured me it would cost me no less than 10,000,000 I say go for it life is all about living. Let the doubters doubt.

Get that guarantee in writing then as he's only the salesperson.

Good luck!

Edited April 27, 2016 by DILLIGAD

[kannot]

depending where.when and what you bought I got my ROI back in 7 years......its currently not good so though.

Bought 2006 BKK £=72 baht ,sold 2013 at profit and 7 years rent at +10% rent was 15k a month and each condo cost 1.1million, overall good roi, not do-able now, 5% is with "care" in what u buy

You could have just as easily bought when 1GBP was 45B, sold at a loss 7 years later, had a selection of non-paying and destructive tenants (or no tenants at all) and been cheated left right and centre by your rental agency and lawyer.

I dont think that Thai property is a very good investment at all.

Pah, BUT I| Didnt, I used my brain and saw an opportunity including lack of cheap condos close to BTS in 2006 ,£ v baht good at the time, roi +10% speaks for itself.

Funny..............Wife is a real estate agent, plenty of inside info.

[kannot]

Some proverbs that should be pinned at the top of this page:

"In Thailand only invest money that you can afford to lose."

"Property in Thailand is very easy to buy and very hard to sell."

"Everyone lies."

Tripe, what u mean is "crap property is easy to buy and hard to sell" Crap location crap quality etc etc same all over the world

[Mato6129]

Thanks guys for your comments...

A bit more info, I am not thinking of buying a condo but a 2 bed house (in Company name) and I would not be buying it to rent out, its for my personal use.

As for 'The normal activities' of Pattaya, am sure there is always an exception

The purchase price is not that much really so once bought, it would be my home for at least 6 months of the year...

[chiang mai]

The Land Office is actively cracking down on company ownership of real estate by foreigners, especially where the sole reason for the company's existence is to own a property - this has been going on for at least two years and I know of two Brits. who have been caught out. So yes, it';s risky to do things that way, an usufruct may be a better way to go, if you can make one work for you (usufruct = right to live there for life plus the ability to sub lease - must not be granted by Thai spouse if to be watertight and should not be at zero rent.).

[cyberfarang]

Me and my Thai girlfriend rent a house from her brother. We all live on the same land including her parents. Being on a retirement extension I see no reasons to actually get married. My girlfriend wants us to marry, buy some land and have a house built or should say, buy her some land and a house with my money. I flatly refuse because I will not invest in anything in Thailand that I can`t own and be at a huge disadvantage.

If there were ways that I could buy land and be 100% secure, meaning no one can throw me off then I wouldn`t hesitate, but there isn`t. Not interested in a condo.

[KittenKong]

depending where.when and what you bought I got my ROI back in 7 years......its currently not good so though.

Bought 2006 BKK £=72 baht ,sold 2013 at profit and 7 years rent at +10% rent was 15k a month and each condo cost 1.1million, overall good roi, not do-able now, 5% is with "care" in what u buy

You could have just as easily bought when 1GBP was 45B, sold at a loss 7 years later, had a selection of non-paying and destructive tenants (or no tenants at all) and been cheated left right and centre by your rental agency and lawyer.

I dont think that Thai property is a very good investment at all.

Pah, BUT I| Didnt, I used my brain and saw an opportunity including lack of cheap condos close to BTS in 2006 ,£ v baht good at the time, roi +10% speaks for itself.

Funny..............Wife is a real estate agent, plenty of inside info.

That still sounds more like luck to me than anything else. Plenty of farangs here have been ripped off by (or murdered by) their Thai wives. In that respect you were lucky too.

[theguyfromanotherforum]

Me and my Thai girlfriend rent a house from her brother.

:-P

Anyhoo, you know what they say, buy it if you can afford to lose. Personally, I could probably afford to lose except that I really, really hate losing.

But that's just me.

[TuskegeeBen]

Buy a condo (in your name only) for personal use. The ROI on (non-syndicated) rental property purchases, is an estimated 30+years (as stated in post #5).

If you're operating as a solo investor, then don't do it. Let a word to the wise, be sufficient.

depending where.when and what you bought I got my ROI back in 7 years......its currently not good so though.

Bought 2006 BKK £=72 baht ,sold 2013 at profit and 7 years rent at +10% rent was 15k a month and each condo cost 1.1million, overall good roi, not do-able now, 5% is with "care" in what u buy

Sigh! There'a always some "one-upmanship" game playing bloke on the TVF. The OP's concerns regard the present reality of things Pattaya, not the historical, pre-AEC past.

Edited April 27, 2016 by TuskegeeBen

[anotheruser]

The agent that showed me the condo I live in said if I bought at Circle Petchaburi he could guarantee me 5%. He assured me it would cost me no less than 10,000,000 I say go for it life is all about living. Let the doubters doubt.

Get that guarantee in writing then as he's only the salesperson.

Good luck!

Lol I like to get more than 5% return on my money. Especially if I am investing it in a high risk area such as condos in Bangkok. It took all of my will power not to laugh in his face. I could make more than that just doing a fixed deposit if I wanted to for much less hassle and work.

The agent said it like I should be absolutely amazed at how astute he is to be able to offer such high returns!!!

Edited April 27, 2016 by anotheruser

[WorkingTourist]

Can you buy it without spending all your money?

Do you intend to use it for the next 10 years or more?

Do you want the ability to make changes that are infeasible in a rental?

Have you found a place in a good location and of good quality?

If the answer to the above are all “yes” then I would most likely buy.

Though I would be hesitant to buy using a company with Thai nominees.

[anotheruser]

Can you buy it without spending all your money?

Do you intend to use it for the next 10 years or more?

Do you want the ability to make changes that are infeasible in a rental?

Have you found a place in a good location and of good quality?

If the answer to the above are all “yes” then I would most likely buy.

Though I would be hesitant to buy using a company with Thai nominees.

The building is in an okay location.

http://www.apthai.com/%E0%B8%84%E0%B8%AD%E0%B8%99%E0%B9%82%E0%B8%94/the-address/the-address-asoke/

No I don't intend to use it more than 10 years. The agent pitched it as an investment.

The quality is the best in the Petchaburi road area and you largely pay for the convenience. The facilities are better than any other condo around here.

What will it look like in ten years? Will there be something better built at this location in that time? Without a doubt.

http://condo.singhaestate.co.th/th/gallery.aspx Is a high luxury building being built right now that will make my condo look like a shack and all others in the area,

If you want to see what a place that used to be the number one condo in this area was, take a look at Supalai. It was built in 2014 from what I can find online is now almost the low income building in this particular spot. I can't imagine the building I am living in holding value in ten years if Supalai can't hold interest after even two years. I have been searching for condos lately thinking about a move and Supalai looks like a morgue online and I see how many lights are not on at night. Undoubtedly pitched as an opportunity to make 5% two years ago.

[uthaithanirules]

Way too many cons not enough pros ( pun Intended)

How much is the OP currently paying for rent

If he is sick of the "nightlife" in Pattya, why not move further out down the coast somewhere a lot cheaper

That is, why the he'll would you live in Pattaya if not for the yoni?

[Don Mega]

Would I buy a house, No as iam not into starting dodgy companies to facilitate the ownership.

Edited April 27, 2016 by Don Mega

[Utley]

If you purchase a condo, buy one that is already built rather than risking new construction that may not happen.

If you purchase a condo keep in mind that your chances of selling are slim and none.

Before purchasing a condo, become very familiar with the condo association fees and rules.

As a foreigner purchasing a condo, remember that you are substantially on your own as far as the local authorities are concerned.

[TuskegeeBen]

Me and my Thai girlfriend rent a house from her brother. We all live on the same land including her parents. Being on a retirement extension I see no reasons to actually get married. My girlfriend wants us to marry, buy some land and have a house built or should say, buy her some land and a house with my money. I flatly refuse because I will not invest in anything in Thailand that I can`t own and be at a huge disadvantage.

If there were ways that I could buy land and be 100% secure, meaning no one can throw me off then I wouldn`t hesitate, but there isn`t. Not interested in a condo.

The OP topic thread is about buying a "condo" in Pattaya.

[Don Mega]

Me and my Thai girlfriend rent a house from her brother. We all live on the same land including her parents. Being on a retirement extension I see no reasons to actually get married. My girlfriend wants us to marry, buy some land and have a house built or should say, buy her some land and a house with my money. I flatly refuse because I will not invest in anything in Thailand that I can`t own and be at a huge disadvantage.

If there were ways that I could buy land and be 100% secure, meaning no one can throw me off then I wouldn`t hesitate, but there isn`t. Not interested in a condo.

The OP topic thread is about buying a "condo" in Pattaya.

Where does the OP mention condo ?

Edit found the OP mentioning condo in post #15.... he specifically says he does not want to buy a Condo.

Edited April 28, 2016 by Don Mega

[Rdrokit]

Thanks guys for your comments...

A bit more info, I am not thinking of buying a condo but a 2 bed house (in Company name) and I would not be buying it to rent out, its for my personal use.

As for 'The normal activities' of Pattaya, am sure there is always an exception

The purchase price is not that much really so once bought, it would be my home for at least 6 months of the year...

Not a good idea as the "new" government is cracking down on foreign companies and their Thai shareholders. If it is a legal company with Thai shareholders who invested in the company it is OK but may Thai shareholders are just figureheads and are just names on paper. Some have been arrested and not sure what happens to the companies holdings.

The government here changes so often I would not want to buy anything in a company name. If you must buy then buy a condo otherwise rent. Just MHO.

Edited April 28, 2016 by Rdrokit

[WorkingTourist]

No I don't intend to use it more than 10 years. The agent pitched it as an investment.

If you buy as an investment, you need to do your own research and should not listen to the agent who is getting 3-7% of your money for facilitating the sale, they’ll tell you whatever they think is required to seal the deal and have little knowledge about future projections for the rental market etc.

If your question to the forum is whether buying real estate in Pattaya is a good investment then I think the consensus is a “no”. Undoubtedly you can make profit, but not by going with some random real estate agent and listening to their advice.