A good time for property investment?

Ask here about the pleasures and pitfalls of buying, selling or renting property and real estate in Hua Hin. Building, design and construction topics welcome. Commercial or promotional posts for real estate companies or private properties are forbidden.
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Jockey
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Post by Jockey »

buksida wrote:I think a few people here are wearing their rose tinted glasses here if they think HH is a world class destination.

As said above, no international school, no decent hospital (although one is currently under construction and due for completion in 2078), traffic problems that are escalating by the day and a surplus of property. However I do still like the place!

:offtopic: The concerns were more about the political and economic future of the country and its impacts on the foreigners that decide to live and invest here. A subject that gets repeatedly brushed aside by people that have a vested interest in real estate.
As regards 'world class destination' I think people are talking about holiday - not living here, so although I agree with you about the schools and traffic (and would add water supply, electric overhanging cables, sewerage and roads), that's not the type of consideration a travel agent would think about when assessing the holiday destination and giving HH the tag 'world class destination'. These things you mention become much more important when considering living here if you have children. Retirees are the main people buying here and normally don't have children coming with them (unless to visit).

As for the political concerns and economic future of the country - I really don't see too many tourists worrying about that too much. In my opinion, they see Starbucks and Tesco's so think the country must be OK to invest in.
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Post by Burger »

Infrastructure comes with demand.

HH already has the facility of an international airport (only being used domestically at moment)
Has all the golf courses you could care for
Miles and miles of good enough beaches
Brand new shopping malls
Only 2.5 hours drive from BKK.
Train service.
5* hotel/resorts
2 no. Universities

It lacks a decent hospital but someone said earlier one is being built.
It lacks an International school, which someone will build when there's the demand.
Whether the roads and drainage can handle it is another question.

And don't forget Mickey and Donald are coming soon :D

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Post by PeteC »

Roppongi wrote:BTW, when I was last in Pattaya they were apprently building a new sewer pipe ABOVE ground on the windy road that leads up to the Sheraton and Royal Cliff. Should be interesting when a bus fails to take the turn and plows into it ... TIT :roll: :mrgreen:
That's not a sewer pipe per my understanding, it's a water supply pipe with a new pump station hidden back in the woods. The Prattamak area down the slope towards the sea where the CC Hotel, Asia Hotel, the Princesses house, and even the Royal Cliff Hotel have always had problems getting enough water and pressure. Just not enough pump power from the old system to supply that area. Now that new villas and condos are springing up everywhere in that area, they have finally done something. Agree, some bus or truck on the S curve is going to take it out sooner or later.

I'm afraid most of the black water may still be going 'down the hill' to the sea but I hope they are addressing that also. Pete :cheers:
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Post by PeteC »

Burger wrote:Pete,

Probably the first time I've disagreed with something you've said on the forum. And I should apologise to you and anyone else who lives there if I've offended.

I'm only going from personal experience but I know of lots of sales and enquiries from ex-Pattaya people, because they suddenly have a family, ie young kids etc and put safety of their kids above education.
Also the people that moved there 10 years ago or so, have done the bar-scene, got the T-shirt etc, plus the crime rate there is staggering now. Just look on 'PattayaCityNews', you'll read about elderly farangs being mugged at knife point, and unneccesarily beaten up.

People's general view of Pattaya is pretty low and not a place they'd choose to live anymore.

Burger
No offense taken Burger. :) Many on here who know me well know that I am no lover of Pattaya. The main reason we're still here is because it was a great place for my partner to go through her pregnancy and for the first year or two of my daughters life concerning high quality health care. It's just my yellow flag goes up at generalizations.

"Pattaya City News and "Pattaya People" are tabloid rags you could compare to what you find at grocery line check out's in the UK or USA. Take a weekly read of www.pattayamail.com each Friday and you'll see many positive things the other two publications like to leave out.

It is correct that the petty crime rate is high, snatch and grap, beat up a drunk farang etc. Most of the time though with the latter, they walk right into it with their drunken mouths yapping and no sense of Thai customs at all. It has a lot to do with the 'quality' of tourist here and attracted to here.

On the other hand, this place is indeed a magnet for the poor to come to in search of jobs. I think I've posted before that the count is about 300 in and 150 out each day who couldn't find a job. Much of the snatch and grab thefts are made by these rural people who find themselves jobless.

I'm really not defending this place as I don't like it much either as mentioned, and certainly my daughter is not going to be raised here. However, in line with this thread (in a way) with development HH could find itself with these types of problems, Royal presence or not. I've also mentioned on here future Royal presence may not be similar to the past and if so, security and a sense of conservatism may go out the window. I hope not.

I can't fathom how the mentality of the Thai's governing HH can be any different than that of the Thai's governing Pattaya, or outer podunk for that matter. That is my biggest caution for HH. I don't think anyone has learned from pattaya's mistakes and continuously simply look at the money to be made. Pete :cheers:
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Post by sargeant »

I now have the definitive answer and it is in print in the Hua Hin Big Chillie today page 24

Question 7 what happens if i pass away

Answer in the UNLIKELY event of the buyer passing away :shock: :shock: :? :?

they are giving free eternal life :shock: :shock: with every property :shock: :shock:

that says it all about estate agents as far as i am concerned :bow: :bow: :lach:
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Post by DawnHRD »

sargeant wrote:I now have the definitive answer and it is in print in the Hua Hin Big Chillie today page 24

Question 7 what happens if i pass away

Answer in the UNLIKELY event of the buyer passing away :shock: :shock: :? :?

they are giving free eternal life :shock: :shock: with every property :shock: :shock:

that says it all about estate agents as far as i am concerned :bow: :bow: :lach:
The actual quote is:

"In the unlikely event the buyer passes away, the title deed can be transferred to your relative. A new lease agreement for 30 years will be prepared and registered. In essence, this property can stay in your family forever."

The actual company being interviewed is Thai Longstay Management Company which is 30 percent owned by the Tourism Authority of Thailand, according to the article.

I have no opinion on this company or the article about them, but it's not quite the interpretation you gave, Sargeant.
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Post by Roppongi »

prcscct wrote:That's not a sewer pipe per my understanding, it's a water supply pipe with a new pump station hidden back in the woods. I'm afraid most of the black water may still be going 'down the hill' to the sea but I hope they are addressing that also. Pete :cheers:
Thanks for the clarification.
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Post by sargeant »

i know but its a good larf innit :D :D
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Post by Burger »

ppp
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Post by Jockey »

DawnHHDRC wrote:
sargeant wrote:I now have the definitive answer and it is in print in the Hua Hin Big Chillie today page 24

Question 7 what happens if i pass away

Answer in the UNLIKELY event of the buyer passing away :shock: :shock: :? :?

they are giving free eternal life :shock: :shock: with every property :shock: :shock:

that says it all about estate agents as far as i am concerned :bow: :bow: :lach:
The actual quote is:

"In the unlikely event the buyer passes away, the title deed can be transferred to your relative. A new lease agreement for 30 years will be prepared and registered. In essence, this property can stay in your family forever."

The actual company being interviewed is Thai Longstay Management Company which is 30 percent owned by the Tourism Authority of Thailand, according to the article.

I have no opinion on this company or the article about them, but it's not quite the interpretation you gave, Sargeant.
Thank you Dawn.
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Post by sargeant »

I must have been well out of it in hospital because i didnt see any of you lot in there having your HUMOUR BYpass operations :?

Unless dying which as far as i know is the only cast iron certainty in life has become an unlikely event :shock: :shock:

Mind you if loosing ones sense of humour is necessary to make death an unlikely event ill stick with the cast iron certainty thankyou i dont think i could live without it mind you some you dont seem to be able to live with it either :roll: :roll:

go on have a giggle it will do you no end of good and you wont feel bad :lach: :lach:

Burgher me old pal me old beuaty i take it PPP means property property property???? :lach: :lach:
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Post by Burger »

Burgher me old pal me old beuaty i take it PPP means property property property???? :lach: :lach:
No, I wrote something derogatory about you thinking it funny to mislead people, but thought better of it and removed it.

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Post by JW »

Sargeant,

Generalising is a mistake.

JW - estate agent.
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Post by ozuncle »

Not everyone buys property in HH for investment purposes.
My opinion would be to only invest in property in a country that you know well and are confident that NOTHING can go wrong, apart from the normal market ups and downs.
Having said that, I was very confident in advising and assisting my wife and daughter to buy a house in HH recently.
Prices are so cheap (compared to Perth) and they (We) intend keeping the property for a very long time.
We dont care if prices go up or down because we love the area with its beaches, golf courses, food etc.etc. etc.
You only live once.
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Foreigners warned on land

Post by PeteC »

Some more bad news as published in today's Bangkok Post. Pete
___________________

UMESH PANDEY

Foreign investors holding property through shell companies using Thai nominees have been warned to restructure their holdings or face prosecution.


"Foreigners using shell companies to buy housing across the country are violating two laws. One, the Land Act that forbids foreigners from holding land and two, the Foreign Business Act by using nominee structures. I recommend that they restructure," Commerce Minister Krirk-krai Jirapaet told foreign journalists at a dinner talk on Friday.


Under Thai law, he pointed out, foreigners can only own land if they have businesses promoted by the Board of Investment, under the Industrial Estate Act or with written permission from the Interior Ministry.


"Look around you _ all the land in Samui, Phuket and Koh Chang is in the hands of foreigners. They cannot take the land away but there's a sense of nationalism and therefore they should restructure," a combative Mr Krirk-krai said in response to questions from foreigners.


The resort islands of Phuket and Samui have been the focus of foreign investors who have snapped up million-dollar villas as second or retirement homes, but the imminent changes to the Foreign Business Act have begun to keep investors, developers and buyers at bay.


It is expected that among those to be hurt the most by the new rules will be companies selling villas to foreign buyers, as any foreigner will need to set up a company with at least a 51% Thai shareholding. To comply with the amendments, companies will need to change from freehold to leasehold contracts.


Market experts believe the villa-for-sale market in resort destinations will suffer as a result.


Mr Krirk-krai also said that the government would likely look at ways to plug the loopholes under which companies use Non Voting Depository Receipts (NVDRs) to circumvent FBA-mandated restrictions on foreign ownership.


"I will make sure that over the next three or four months we will plug this loophole," he said.


NVDRs are issued by Thai NVDR, a subsidiary of the Stock Exchange of Thailand, to foreign investors who have bought shares in listed companies that are already up to their foreign-ownership limits.


NVDR holders are entitled to full economic rights, including dividends and rights issues, but are not allowed to vote, except on motions involving delisting. Voting rights are automatically restored if the NVDRs are sold back to Thais.


Mr Krirk-krai said the military-installed government was in a rush to resolve this issue because abuse of the laws was a key reason for the fall of the previous government.


"It's not that we are backtracking from globalisation and not welcoming foreign investors, but what we want is good quality investors, not just any investors," he said.


"If the investors cannot observe one or two laws that are similar to those in other civilised countries, then we should not care about them."
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