Would you buy a property in Thailand?

[WorkingTourist]

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 […]

Looking at Supalai @ Asoke, it might have been number one in the area, but I doubt that people of reasonable affluence found this building attractive two years ago.

It looks like a very standard Thai building with frighteningly many units.

Though I don’t doubt that the glossy sales brochures had some attractive 3D renderings, but you can often look through that when judging the quality of the build.

For example look at the materials, like is any wood used? Are the tiles just standard HomePro tiles? Are the windows energy-efficient? What about the fixtures? Look at the kitchen design, is this a proper kitchen where appliances have been considered during the design, or is the microwave just placed on the table? And does the kitchen have appliances such as a dishwasher? What about air conditioning units, are these nicely hidden above the ceiling or just mounted on the wall? What about power sockets, does every wall have at least one power socket?

Then of course there is also the actual layout, i.e. are the units cramped with one bedroom units starting at 30 sq.m. etc.

[WorkingTourist]

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 doubt that Supalai was attractive to modestly affluent people two years ago as it’s a very standard Thai building with frighteningly many units.

The glossy sales brochure might have looked good two years ago, but you need to look beyond that.

For example the materials used, any real wood? Energy-efficient windows? Decent tiles in bathrooms? High quality fixtures?

Then you have things like the kitchen, are appliances a part of it, e.g. does it have a dishwasher hidden in one of the cabinets? Does it have induction hob or just 2-4 electrical plates? Was it designed with room for a microwave oven or is that just placed on the table?

There are also things like power sockets, are these plentiful or sparse? Is the air conditioning nicely hidden above the ceiling with strategically placed grills, or do you just have a few wall-mounted units?

The layout and size of the units are also dead giveaways. I’d claim that a unit of less than 40 sq.m. is this small solely for budget reasons.

If proper materials are used and a good architect is on the project, even ten year old buildings can be more attractive than many of the new stuff built today.

[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.

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.

Even more tripe..seriously Kong what are u smoking?...........no luck involved its called "judgement"

[kannot]

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.

There is so much crap being spoken here many could run for Thai govt..............my Wife actually works in real estate and sells condos daily and 99% are secondhand......slim and none huh keep dreaming.

[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

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.

There are still some opportunities out there "if" you take the time to look, nothing to do with one upmanship.

Try reading the bit where I said "not so good now though"

Edited April 28, 2016 by kannot

[swissie]

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.

Stay firm brother, don't cave in. The pressure will be increasing: " you not love me and my family" etc etc

If they suggest you take out a hefty Life Insurance instead, in favor of GF, you will know it's time to run.

On the way out, you can always explain, that you will be going to Pattaya to go shopping for a newer model with less mileage.

Cheers.

[KittenKong]

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.

Even more tripe..seriously Kong what are u smoking?...........no luck involved its called "judgement"

I dont smoke. It is luck, and as the circumstances surrounding it no longer apply it is irrelevant luck.

[Nasrullah]

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.

Never lived or owned property in thailand.....

So if i own the property and she owns the land and the poo hits the fan.....1.....tell me how she can throw me off the property and maybe do

me out of money?........or is it -she cannot sell,but can move in herself and keep you out?

[ttthailand]

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.

Never lived or owned property in thailand.....

So if i own the property and she owns the land and the poo hits the fan.....1.....tell me how she can throw me off the property and maybe do

me out of money?........or is it -she cannot sell,but can move in herself and keep you out?

It really depends on the location and your neighbors. If her family is next door and live all around you then it might not be a good idea as they could make your life living hell or worse.

[bkk6060]

I am in my 60's so no way.

But if I was in my 30's, I might consider it but only an ocean view in a newer building.

I would not consider it an "investment" as I don't see the massive appreciation here in the future.

But as a semi full-time place and occasional Airbnb rental, it could be pretty good for me I think.

PS: Why would anyone come to Pats if they did not like a little drinking, a little partying, and loads of sex?

If you are generally just looking for a cheaper place to live with no frills/thrills, go to a neighboring country.

[bkk6060]

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.

An attorney can do this for you.

But, sorry I would dump her if she is pressuring you for this, too many bad stories and scammer Thai girls.

[KittenKong]

PS: Why would anyone come to Pats if they did not like a little drinking, a little partying, and loads of sex?

If you are generally just looking for a cheaper place to live with no frills/thrills, go to a neighboring country.

Pattaya is the only place I know of in SE Asia that has functioning infrastructure, sea-view accommodation, reasonable prices, acceptable climate (though too hot), a good selection of imported foods and foreign restaurants, decent public transport, sympathetic taxation and a sensible and cheap long-term visa solution for retirees.

Various other nearby countries beat Thailand hands down on some counts when it comes to alcohol and cleanliness and good organisation (and lack of corruption) but nowhere I know of trumps it on all counts.

Personally I dont drink much, never party and couldn't care less if all the hookers vanished overnight. If I wanted any of those things (which I dont) I wouldn't be here at all. They can all be had better and cheaper elsewhere. It's all the other things I mentioned that I'm here for.

[bkk6060]

OK. I understand. Definitely not my goals but good you like it beyond the obvious.

Hope you find a place.

[hyperdimension]

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

You can decrease the ask price in order to decrease the time it takes to sell. That's how every market works.

[mike13]

if they want our money, they can change laws but they will never do it. so, farang losing money in real estate is a so great sport there

As far as rules are not allowing promoting foreigners ownership, never buy anything in thailand.

rent and keep your freedom !

[theguyfromanotherforum]

I live in Bangkok, but for some reason I would rather buy a condo in Pattaya.

I think that beach condos (buildings) look better after a decade due to less pollution and nicer weather.

Even upscale Bangkok condos look terrible after a while.

[kannot]

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.

Even more tripe..seriously Kong what are u smoking?...........no luck involved its called "judgement"

I dont smoke. It is luck, and as the circumstances surrounding it no longer apply it is irrelevant luck.

yeah I stupidly bought 3 more rooms last year and get 7.5% back on those, Wife hasnt murdered me or done a runner yet, still its only been 10 years, guess last year isnt relevant either eh?

On top of that I bought from people desperate to sell and got them about 600k below market value... already got one person wanting to buy one off me at 400k more than I paid. Yeah just luck............

[Cook my sock]

Guessing a Brexit will stop any plans to buy more property.

No regrets buying a 67sqm 'fixeruppa' condo in a prime Ekkamai location for 3.2m 2 years ago.