Property sector welcomes 99-year leases

[fforest1]

2 hours ago, realenglish1 said:

This type of lease will have 0 effect on business with foreigners. Why should they get involved with a complicated lease when they can go to so many

other countries that welcome them with open arms including land ownership

You had better come up with a better idea or it will mean little to foreigners

 

Give them the right to own a house not multiple houses but one house Create stability  in Thailand with home ownership Once idea is have Foreigners pay double tax on home ownership What a way to increase Federal Coffers, Also rule that foreigners who buy a house must sell to a Thai once they want to sell

That will help hold the price down  and not create crazy prices

 

There are so many ways you can improve on the welcoming foreigners to Thailand The current system does not and they will go where they are welcome  

Also rule that foreigners who buy a house must sell to a Thai once they want to sell....

 

This is a really smart idea....

[fforest1]

47 minutes ago, BernieOnTour said:

I assume, the majority of ThaiVisa members won't be affected by this new rule in any way...

 

It is for: "special economic zones of the Eastern Economic Corridor (EEC)" and the intention is to attract investors in these zones, who are then also allowed to set up 90 year leases for residential housing near those factories.

 

Welcome China !   ;-)

And use their own currency in the zones for purchases.. 

[ksamuiguy]

10 hours ago, JSixpack said:

 

No. Ultimately this reflects the classic TVF Poster Golden Egg Layers Theory Of Thai Economics. More about that here: https://www.thaivisa.com/forum/topic/936844-pattaya-going-downhill/?page=31#comment-11359895

 

You can discover the reality here: https://en.wikipedia.org/wiki/Economy_of_Thailand

 

And this new law may be helpful for the other sectors.

 

 

No. We still have plenty of independent travelers, probably more than ever, and now more organized tours as well.

 

 

It never was. Next.

Independent travelers my ass, the ones with no money or direction in their lives. Most people save most of their working lives to to make this "Trip of a life time". The have planned and saved and are what they "Quality Tourists"

 

"independent travelers" they come for a "good time' go home and earn  some more money to come back for a "good time", over and over.

Sorry this is the majority of the "independent travelers" these "independent travelers" become a burden on the countries they visit as they do not contribute to the economies of countries they visit. Doubt it just look at you-tube videos, Facebook, almost every one is about how to screw the county you are visiting, how to not spend money, how to get around the rules. Don't take my work Take A look. Also take a look who are using social services, hospitals etc. the most. The "independent travelers"  most of which don't have any funds to pay for these services and become a burden on the host country so why are they here, because they can not do what they do here in their home country and get away with it!

 

 

[anotheruser]

1 hour ago, BernieOnTour said:

I assume, the majority of ThaiVisa members won't be affected by this new rule in any way...

 

It is for: "special economic zones of the Eastern Economic Corridor (EEC)" and the intention is to attract investors in these zones, who are then also allowed to set up 90 year leases for residential housing near those factories.

 

Welcome China !   ;-)

Well you are right. They don't realize this isn't about their 1/2 rai in Isaan. Also what is the difference of 30 years or 50 years if you are renting to people that are 70 years old? 

 

But yeah the fact this is more about corporations that plan to be around for the long run is lost on most. 

 

 

[overherebc]

2 hours ago, realenglish1 said:

This type of lease will have 0 effect on business with foreigners. Why should they get involved with a complicated lease when they can go to so many

other countries that welcome them with open arms including land ownership

You had better come up with a better idea or it will mean little to foreigners

 

Give them the right to own a house not multiple houses but one house Create stability  in Thailand with home ownership Once idea is have Foreigners pay double tax on home ownership What a way to increase Federal Coffers, Also rule that foreigners who buy a house must sell to a Thai once they want to sell

That will help hold the price down  and not create crazy prices

 

There are so many ways you can improve on the welcoming foreigners to Thailand The current system does not and they will go where they are welcome  

Why have the condition you must sell to a Thai.

Cars in my name I'll sell to the highest bidder. Why should a house be different. Only leaves you open to take a limited offer.

[JSixpack]

24 minutes ago, ksamuiguy said:

Independent travelers my ass, the ones with no money or direction in their lives. Most people save most of their working lives to to make this "Trip of a life time". The have planned and saved and are what they "Quality Tourists"

 

"independent travelers" they come for a "good time' go home and earn  some more money to come back for a "good time", over and over.

Sorry this is the majority of the "independent travelers"

 

So then you've come agree with me that we do in fact still have plenty of independent travelers, in two classes: the impecunious and the quality. Good progress, man.

 

Quote

these "independent travelers" become a burden on the countries they visit

 

Some do, of course, but only a small well-publicized minority. Which is irrelevant to the point under discussion, so you don't have any disagreement, though you seem to think you do.

 

Moreover, in strictly following classic TVF Poster Golden Egg Layers Theory Of Thai Economics, you've ignored all the independent travelers from non-Western countries who are now making a significant contribution. For example, Chinese and Koreans, among others. It's a TVF myth, one that you probably believe, that they all come in tour groups. Not at all, and some are Big Spenders:

 

 

Improved performance of existing projects e.g. at CentralWorld, CentralPlaza Lardprao, CentralPlaza Pattaya Beach, etc., supported by spending from foreign tourists mainly from China and Korea during their summer travel season. . . . On a q-o-q basis, revenues from hotel operation increased by 6% thanks mainly to higher occupancy and room rate at Hilton Pattaya Beach Hotel with occupancy high at 92% in the third quarter, enhancing RevPar up 4% q-o-q as a result of an increasing number of Chinese and Korean tourist visits during their travel season in July-August. . . . continuing growth in hotel business with higher occupancy in this quarter on the back of increasing number of foreign tourists visiting Hilton Pattaya Beach Hotel. . . . However, the food court at CentralFestival Pattaya Beach experienced revenue growth, driven by higher traffic from tourist visits in the third quarter.

Central Pattana PCL, Performance Overview: Overall economic condition in 3Q15

 

 

But rising individualism and financial independence are seeing more and more young Chinese choose to defy custom, while at the same time tourism and outbound travel are surging. . . . Growing numbers are also seizing the opportunity for tourism, despite slowing growth in the world's second-largest economy. . . . Chinese travellers are by far the biggest spenders in the world, splashing $165 billion in countries they visited last year, according to the United Nations World Tourism Organisation.

New Year, New Travel: More Chinese Choose Tourism Over Tradition

 

So then would all this new spending make up for any burden imposed by the small number of bums who have accidents w/o health insurance, say. Well, obviously so. :)

 

 

[George FmplesdaCosteedback]

4 hours ago, Nip said:

It's welcoming to see that Thai Visa members without exception realise that this proposed 99 year lease is as fake and feckless as the 30 year lease with another 30 year extension option. There is no legal obligation for the 30 year lease to be extended 30 more years and those who have fought it in court have lost it unless large brown envelopes were involved. Also if the owner of the property leased dies or the company folds the new owner has no obligation to the renter. The general consensus in the legal process here is any purchase (lease) is considered to be a circumvention of Thai law. As others have noted this 99 year lease is only being muted because the property market in Thailand and in particular Phuket is dead. 

Your dead right on everything, except it won't apply to Phuket, it is only in EEC areas. See #9,10,11.

[bkkcanuck8]

1 minute ago, overherebc said:

Why have the condition you must sell to a Thai.

Cars in my name I'll sell to the highest bidder. Why should a house be different. Only leaves you open to take a limited offer.

The problem is that there is a valid concern of foreign property speculators driving the property prices up and distorting the market -- making it too expensive for locals to buy property in their own homeland.  If they allow foreign ownership, they will most likely want to have some mechanism to prevent price distortion and speculation if the purpose is to allow foreigners living here control of some personal property of which they are the resident.  The province I lived in as a kid (PEI - Canada) has land ownership restrictions by CFAs (come from away) for certain property because of similar worries -- it is not just a Thailand thing.  Remember also, that almost all foreigners in Thailand are not permanent residents.... so even if they expand ownership to residents it would likely never apply to temporary visa holders.

[ksamuiguy]

I agree there are many "independent travelers" with money and a purpose.

Spending money locally but I don't think they are coming here to invest.

They will go where they can own what they buy and feel welcome!

[anotheruser]

6 minutes ago, bkkcanuck8 said:

The problem is that there is a valid concern of foreign property speculators driving the property prices up and distorting the market -- making it too expensive for locals to buy property in their own homeland.  If they allow foreign ownership, they will most likely want to have some mechanism to prevent price distortion and speculation if the purpose is to allow foreigners living here control of some personal property of which they are the resident.  The province I lived in as a kid (PEI - Canada) has land ownership restrictions by CFAs (come from away) for certain property because of similar worries -- it is not just a Thailand thing.  Remember also, that almost all foreigners in Thailand are not permanent residents.... so even if they expand ownership to residents it would likely never apply to temporary visa holders.

This is already a real problem. Even though foreigners can only buy through Thai proxies prices in any place desirable can already be insane. Imagine if it was a free for all.

[Hereinthailand]

They just dont get it and probably never will, they can offer land ownership and multi-nationals still will not come. They have been screwed too many times in the past and now there are much better opportunities in asean. Better work force, better educated, less restrictions, 100 % company ownership etc. Even the chinese have given up on thailand.

[anotheruser]

1 minute ago, Hereinthailand said:

They just dont get it and probably never will, they can offer land ownership and multi-nationals still will not come. They have been screwed too many times in the past and now there are much better opportunities in asean. Better work force, better educated, less restrictions, 100 % company ownership etc. Even the chinese have given up on thailand.

Are you implying the Chinese giving up is not a desirable result? Imagine if they didn't?

[Hereinthailand]

With the ridiculous prices on land in thailand now how can anyone say the falangs will drive up the price ? My home and land in america is much cheaper than i can buy comparatively here. 

[anotheruser]

3 minutes ago, Hereinthailand said:

With the ridiculous prices on land in thailand now how can anyone say the falangs will drive up the price ? My home and land in america is much cheaper than i can buy comparatively here. 

 

Yeah I agree. A piece of property in Phuket can be similarly priced to something you would find in Hawaii. 

 

That being said Europeans are used to crazy property prices so it could still go up. Also people from places like Singapore are used to paying a gajillion dollars for next to nothing.

[Hereinthailand]

Hey no country in the world has advanced without the help and expertise of foreigners, the problem here is they want the technology for free and give nothing in return,  The chinese are building/investing in many large projects in cambodia lao myanmar etc., yes they profit from these projects but so do the countries, while thailand falls farther behind in the asean rankings because of their xenophobia. 

[anotheruser]

4 minutes ago, Hereinthailand said:

Hey no country in the world has advanced without the help and expertise of foreigners, the problem here is they want the technology for free and give nothing in return,  The chinese are building/investing in many large projects in cambodia lao myanmar etc., yes they profit from these projects but so do the countries, while thailand falls farther behind in the asean rankings because of their xenophobia. 

Not sure I follow you on this point. Lao let's the Chinese build dams because Lao lacks the technical know how. Lao pays for this with it's soul. About the only thing China could do for Thailand is fix it's terrible rail system but everybody knows the real cost of what the Chinese want is way too high. 

[Lemonltr]

I heard of someone who buldozed his house rather than " give" it as a present to the landowner (gf)

[JHolmesJr]

so you're renting for 99 years…and you pay all the rent upfront.

[wakeupplease]

Any agreement written here is not worth the paper its written on as the corrupt ones will always find a way to change whats written to their way of thinking. Only the likes of Mr Honda and Mr Toyota can succeed here, but they are much needed companies. How many farangs have invested here and lost the lot I wonder?

 

Invest here is like Pi>>>>> into the wind at some time it will come back at you unlike the neighbors who do allow and want business to prosper as they know it also helps their own people.

 

As any Thai in business overseas would you go back and invest and you will be surprised at the answer.

[Hereinthailand]

How does lao pay for the dams with its soul ??? Thousands of jobs created, electricity where its never been, etc. oh wait you are one of those anti dam people sorry, you are not a poor lao person benefiting from all that investment, so you can sit back in your nice little bubble and point fingers and say bad bad chinese. 

[Hereinthailand]

Yes and look at all the overseas acquisitions by thai companies the last couple of years even they are not investing here.

[George Feedback]

"The government’s plan is to offer up to 631,000 rai (100,960 hectares) of land in the three eastern provinces of Chachoengsao, Chon Buri and Rayong to attract foreign investors, with laws and regulations waived in order to extend more privileges to foreign investors."

 

I don't think this is about small plots for houses, more for warehouses and factories.

[anotheruser]

8 minutes ago, Hereinthailand said:

How does lao pay for the dams with its soul ??? Thousands of jobs created, electricity where its never been, etc. oh wait you are one of those anti dam people sorry, you are not a poor lao person benefiting from all that investment, so you can sit back in your nice little bubble and point fingers and say bad bad chinese. 

 

Yeah I guess when you and your friends live in areas that are directly affected by the dams being built it is very easy for one's imagination to run wild. The latest dam is being built near my place so I may have an idea of the direct affects of it more than you might think. They run power lines above the camps that people are forced to settle into and you know what? They don't even connect them with electricity. 

 

But yeah my past decade in Laos wouldn't give me a clue as to what is going on would it? Can I ask you what qualifies you to criticize me and what source your information comes from?

 

Anyway this isn't the topic. 

[anotheruser]

4 minutes ago, George Feedback said:

"The government’s plan is to offer up to 631,000 rai (100,960 hectares) of land in the three eastern provinces of Chachoengsao, Chon Buri and Rayong to attract foreign investors, with laws and regulations waived in order to extend more privileges to foreign investors."

 

I don't think this is about small plots for houses, more for warehouses and factories.

Yes, that is correct. All of these people imagining it will help them with their private affairs are fairly misguided.

[IAMHERE]

TIT     Trust In Thailand

[Hereinthailand]

Okay another rich falang who lives in a poor country only worried about your property speaking for them who can leave at any time. yeah you speak for those poor lao. Prob another ngo worker saving the world, you just forgot to ask the people who live there how they feel about having jobs and electricity.. Im sure the lao just hate all those paved roads the chineses built too

[anotheruser]

Just now, Hereinthailand said:

Okay another rich falang who lives in a poor country only worried about your property speaking for them who can leave at any time. yeah you speak for those poor lao. Prob another ngo worker saving the world, you just forgot to ask the people who live there how they feel about having jobs and electricity.. Im sure the lao just hate all those paved roads the chineses built too

you mean the paved roads they took they trees out on? 

You are clueless grow up.

[KonaRain]

18 hours ago, Mickmouse1 said:

50 YEARS...THE 49is not automatic and could be subject to manipulation and arm twisting negotiation as my mate has just experienced in Samui where his remaining lease expired and the owners demanded 20mil B to renew for further 20 years.LOST THE BEACH VILLA

Leases usually go up in 50 years, Hawaii has this system..

[garyk]

When i first came here years ago I was seriously looking into building a house. The more I looked into it the less I was interested.

Now? I wouldn't give one red cent to own anything here other than a vehicle. 

And, happy as a lark... with all my funds still secure. 

What a concept!

[wakeupplease]

7 hours ago, anotheruser said:

Not sure I follow you on this point. Lao let's the Chinese build dams because Lao lacks the technical know how. Lao pays for this with it's soul. About the only thing China could do for Thailand is fix it's terrible rail system but everybody knows the real cost of what the Chinese want is way too high. 

Lao like Cambodia have been through hell over the years and come through it and gaining on and exceeding it neighbors at a rapid pace. The only thing that keeps the neighbor alive these day is there misconception the the USA needs them to tame NK. but of late they may be starting to realise (I doubt) the USA does not need them so they are crawling up the a>> of Russia and China, both of which will drop them when the S>>> hits the fan