So tell me the worst on housing

[hogus]

Well you guys of little faith

"Little faith" ???
Please, don't make me laugh too much !
I would like it more to say, faith enough not to waste the own money!

The meaning of making an investment is normally to protect his money and to increase it under sure and clear conditions, isn't it?
To buy a real estate in which one has no property right and to charge this with imaginary rent payments seems to me not very commercial-competent.
(Let’s have a look from the other side…rent a house and pay it from the interests you’ll get, if you invest your property under safety conditions in Europe. Cheap life in Thailand without any worries will be the result!)

Sorry, roundeyes, but why you not bought your condo?
You would be the 100% owner and would have invested your money really sensibly.

To buy something that does not belong to me, or to hope that another "foreign-gambler" buys it for a higher price under similar conditions in future again, seems to me also not very serious.

Nevertheless, this whole real estate bubble in Thailand will burst with a big bang, exactly as it was the case already in the end of the nineties.
It's a pity that still people can be blinded by the advantageous exchange rate, and hope for a great business.

Let us hope, that the losses for the "unconvincable adventurers " won't be too dramatically for their later existence.

I really wish a lot of good luck for every affected person in future!

[buksida]

I am sure there's an echo on this forum....

There probably is

Each to their own, its everyones personal choice how to manage their finances and what to invest in. Personally I have to agree with hogus. After living in Hua Hin for six years nothing yet has convinced me to put all my savings and try and get the bank here to give me a loan to purchase something I can't legally own. I'm happy renting and until I am rich enough to be able to write off a property purchase I'll continue to rent.

Just one mans opinion though.

[Jim]

Probably time to draw a line under what has become a shouting match. It seems everyone has their mind made up and wants to shout their own opinions rather than listening to alternative points of view. Shame.

Out of interest though, does anyone have any idea how many ex-pats in the HH area rent and how many have bought? It would be nice to know which group is in the majority and which is the vocal minority. Any guesses anyone?

[buksida]

Out of interest though, does anyone have any idea how many ex-pats in the HH area rent and how many have bought? It would be nice to know which group is in the majority and which is the vocal minority. Any guesses anyone?

Good idea, I'll start a poll:

http://www.huahinafterdark.com/forum/vi ... php?t=1667

.

[hogus]

Hi Jim,

unfortunately, there are still no serious statistics.
It's merely clear, that during the last 12 months much more foreigners have acquired houses and also Condos in Hua Hin as in the past.
The construction projects are shot like mushrooms from the ground.
But I suppose that the foreign tenants still are in majority.

On the other side, in my eyes it doesn't matter which group has the majority - tenant or buyer.
Personally I believe that the eyes should not be closed before the legal reality in Thailand.

I'm also very interested in listening to alternative points of view, but these alternatives should be persuasive.

Honestly I must confess, that I’m very much interested in the purchase of a house include swimming pool in Hua Hin, too.
But, like many other prospective customers, however, I am not rich enough to put my property in a more than questionable investment.
The Thai laws are crystal-clear in this case, and thus remain to me only to hope that one day they are liberalized.

As Buksadi already wrote, it’s everyone’s personal choice how to manage their finances and what to invest in.

End of the story, right?

[Jim]

Fair dinkum, Hogus. Happy to buy you a chang or two when I'm next over in HH to take possession of the house!!

[Jaime]

Probably time to draw a line under what has become a shouting match. It seems everyone has their mind made up and wants to shout their own opinions rather than listening to alternative points of view. Shame.

I agree. See the other threads referred to for more of the same. This debate seems so polarised it is hardly worth contributing to. However, I can't resist giving my parting shot! In my view, a holiday home is a luxury, a lifestyle choice, not a strictly financial investment and that is what people seem to be missing the point of. If it happens to make money then fine that is a bonus but is not necessarily the motivating factor in the purchase. And, contrary to what has been written on this forum, you don't have to have a mansion to remortgage, a big income or a massive cash pot. All you need, given massive property value increases in the UK over the last 5 years or so, is a very modest property to remortgage and an average income to afford a small holiday home in Thailand. That is a big part of the attraction - affordability, especially at the lower end of the market. I couldn't buy a garage in the UK with what we paid for our bungalow in Hua Hin! Incidentally, there have been quite a few resales (by both Thai and farang) on the development on which we have our house that have made a tidy profit - I think there is more opportunity for this at the lower end of the market though, where the property base price is lower and there is more scope for raising the standard yourself after the purchase.

I had better stop there as I hear the sucking of teeth and can sense the knowing shakes of the head and rolls of the eyes......!

[roundeyes]

Listen Hogus I guess you are the wrong person to have this conversation with. Sad news about your wife and the 5 rai of land with the intended big house. If that were me I would feel the same if my fingers had been burnt.
I never mentioned words like investment !!!!! I said that my 3.5 years of money up the wall could have brought me the same as I DONT OWN now. But gonna have a lot of fun with. I never brought my condo as it was in Bangkok and I never felt like I would stay in the city.
Live and let live i say !!!
You keep pressing the lift button and I will sit in the garden

[Rider]

Any folk here rent out their house/condo/property to tenants??

Or is that another legal nightmare/minefield for falangs to get into?

[hogus]

Listen Hogus I guess you are the wrong person to have this conversation with. ... If that were me I would feel the same if my fingers had been burnt

Well, roundeye, and I guess that I'm really not the wrong person to have this conversation with, because fortunately I didn't burn my fingers too much .
I have had a long breath and could sample interesting experiences about the Thai-law under the advice of different lawyers, especially about the consequences for foreigners, if they bought (or thought to have bought) real estates in this nice country.

I also know, that you never mentioned words like investment, but may I ask you how do you call it then, if you spend/or planning to spend thousands of pounds, euros or US-$ on a real estate ?
Unimportant shopping tour????

I couldn't buy a garage in the UK with what we paid for our bungalow in Hua Hin!

...but the garage would be YOURS, the bungalow in Hua Hin never ever, isn't it ???

Anyway, Gentlemen, I think we move in a circle!!!
It's really up to everbody, what he's doing with his money.

In my eyes it's just a thing of fairness to draw the attention of purchase-willing persons to the possible negative consequences of buying real estates in Thailand.
Too many people lost their property in the past, because they trust too much in pretty bright lustre offers, and favorable exchange rates.

Happy to buy you a chang or two ...

Hope to meet you soon !!!!
Cheers,

[Jockey]

Deciding whether or not buying property in Thailand is a good investment can be very difficult. Here is my summary of the pro's and cons:

Buying a house (pro's)
There are not many places left in the world that you can have a sizable garden, good sunshine, plenty space, swimming pool etc. for under 70,000 pounds.

The property market could go up, particularly if the laws are relaxed to allow foreigners to own the land,

(cons)
If you are getting a house built for you the experience could be a complete nightmare (just listen to the many stories around Hua Hin)

There is over-development (particularly in Hua Hin), which makes the price market shaky. When will developers start to lower prices in order to sell? There are already signs of this.

Over-development is putting a strain on water and electricity utilities. Particularly water. Currently the water board can not cope with the amount of development in Hua Hin.

What if there are enquiry's into all these psuedo companies that have been set up (ala previous post tuktukmike)? If the company is not trading (proper trading with REAL customers) then the authorities could confiscate the house and land. If this happened (it could be a desperate populist policy from a rival party wishing to get elected). If this happened then the houses "owned" legitimately would lose a LOT of their value due to panic selling.

Buying a Condo (Pros)

Currently it is legal to buy a condo without the need to form a bogus company.

There are not many condo's being built in Hua Hin and most are already sold, so the demand almost out strips the supply, forcing prices UP.

Most condos are next to the sea shore. Lovely sea beezes and geat views.

(Cons)

No garden - can not own a dog - not much privacy.

Condos are a bit cramped and over priced.

If the law changed in favour of foreign ownership, house prices would rise and condo prices would fall (though not tpo much because most condos are Thai owned).

Renting:

A good home or condo can be rented for 20,000 per month. Yes, I know you can get much cheaper or dearer rents, but a good ball park figure for renting a 5 million baht house or condo would be about 20,000 baht.

Pros:
Instead of paying 5 million for a house, you could rent for 25 years @ 20,000 baht a month before you spend your 5 million.

Renting means you can move from or leave your home easily.

Cons:
You can not personalise your rented home as much as you may like to.

Rent is a complete loss - there is no investment. but.....................

Pros
The money you save by NOT buying a house could be invested in an other way ................ now that is another subject!

[Jockey]

Sorry about my arithmetic!

Instead of paying 5 million for a house, you could rent for over 20 years @ 20,000 baht a month before you spend your 5 million

[hogus]

Good work, Jockey!
I guess, nothing more is to be added to that!!!!

Cheers to everybody

[Jaime]

In my eyes it's just a thing of fairness to draw the attention of purchase-willing persons to the possible negative consequences of buying real estates in Thailand.

I wholeheartedly agree with you on this Hogus. However, part of the reason the debate is so polarised is that the 'advice' being given in various threads on this subject by some of those 'in the know' has at times amounted to little more than self-satisfied ridicule of those people who have bought a property in Thailand but who are, after all, simply looking for friendly advice. I think it has unfortunately established an 'us and them' tone to the discussion which is hardly helpful.

Good post by Jockey, by the way.

[buksida]

Perhaps you could elaborate and disclose information on the "in the know" people so we may question them further. I for one have been considering purchasing for a few years now but ..... and thats just it there is this "but".

Having read your posts it seems to me that having a disposable amount to write off and purchase property here would be the way to go and to that I couldnt agree more .... its just not all of us have that extra cash floating around.

Great post Jockey by the way