So tell me the worst on housing

[Burger]

Lomuamart,

I think the Thai authorities have 'set up' this system for which foreigners can buy land/property and generally invest in the country, on the basis that they control it, and at any time when they feel the level of investment is sufficient, they can tighten/plug the loop holes.
Obviously they will not go back on their own laws and force us out.
Not unless Robert Mugabe gets in power

For me, that's not a good foundation for investment

There's a lot of people making a lot of money right now though, some may regret not jumping on the bandwagon.

Burger

[lomuamart]

Fair point, Burger.

[JW]

Jockeys earlier post about the property market was a very fair summimg up. Nice post.

[lomuamart]

I've gone back over the past two pages of this topic and there are some things that stick in my mind.
The property bubble has/is going to burst in Europe. Where?
Rates of growth here are certainly higher than even central London. But then you start from a lower base. A typical home in the UK has appreciated by 5% over the past year. That's a million baht on a house that was worth 300,000 pounds a short while ago. Those who sit the storms out, as was mentioned before, will always prosper.
As far as the Thais "setting up" this scheme is concerned, the laws have always been there. It's not as if new ones were created yesterday.
Again, interpretation and enforcement are the important factors to consider.
I really don't want to sound negative - but I suppose I do. If I put it another way, can someone come up with a good financial reason for me to sell my property in the UK and bring over a lump sum to invest here?
There, that's carte blanche and I'm ready for the flak.
BTW, rental costs are not increasing. There's such an oversupply of property in HH, it's a lessee's market.

[Burger]

If I put it another way, can someone come up with a good financial reason for me to sell my property in the UK and bring over a lump sum to invest here?

I certainly would not recommend anyone selling property in the UK to buy in Thailand, unless they were getting on a bit and wanted to use the capital to 'see out' the rest of their days here.

But it certainly makes financial sense to me to invest spare cash (ie: that earning a low interest rate in a building society) or to take some equity out of your property 'back home' on a low interest rate and invest it here.

Property prices here are rising far in excess of the low interest rates you can get back home.
I can not see it stopping anytime soon, and it has the feel of what happened to Spain donkeys years ago, although hopefully not to the same degree, heaven forbid. There are estate agents in Spain dedicating part of their office to European's in Spain wishing to sell up and come to Thailand. Mostly due to the capital they will free up from their expensive villas and the massive difference in the cost of living now, between Spain and Thailand.

We shall see.

Burger

[lomuamart]

That makes sense.

[tuktukmike]

Hi Burger

Like your reply,

However, the fact remains that those people coming over here on retirement visas and forming companies purely to buy their house, do not need to obtain a work permit under current Thai law.

I can own a 10 million baht company and still would not need a work permit but that is far from the issue.

We now go back to what we have all talked about before, if you are a shareholder of any said company then you are considered as doing business here which is why i said you would have to change to a B visa.

If you are filling out Tax returns for your company again you are doing business.

As for the level of interest earned in the UK compaired to Thai property its worth remembering one important fact, your interest is guaranteed and you will not lose your shirt.

Also if you invest wisely you can get well above 5.5% in a long term investment account.

The next 12 months will be an interesting time out here for many reasons and not least the Glut of propertys on the market.

For me and mo we also want to one day buy land and build a house and factory workshop but i am happy to wait and see.

Mike

[Burger]

Mike,

which is why i said you would have to change to a B visa.

Yes I mentioned the 'B' visa earlier Mike, the person I know that obtained one said it was easy and cheap. Obviously it is legal, so no-one gets 'booted out' etc
I understand however, that you do not need to change to a 'B' visa just to be a shareholder/director of a company. Maybe someone can confirm this ?

As for the level of interest earned in the UK compaired to Thai property its worth remembering one important fact, your interest is guaranteed and you will not lose your shirt. Also if you invest wisely you can get well above 5.5% in a long term investment account.

That's fine and I guess it's a personal choice. Property I have dealt with in Hua Hin has grown far in excess of 5.5% and I am happy with the level of risk involved. I do not know of anyone who has 'lost their shirt' as of yet ?

The next 12 months will be an interesting time out here for many reasons and not least the Glut of propertys on the market.

My opinion is that property prices will continue to grow over this period and beyond, basically due to the large numbers of Farangs, particularly European's who wish to settle in this fine country.

Only time will tell, hey.

Burger

[JW]

The properties that are well prepared,well built, nicely finished and in good locations will do well, the cheap nasty stuff is to be very wary of.
The people who bought this sort of proprerty off plan a few years ago will do very well if they those to sell.

[Digger]

Also if you invest wisely you can get well above 5.5% in a long term investment account.
Mike[/quote]

Would love to know where in Uk offshore you can earn 5.5%.Best I can achieve as non resident living 9 months of year in Argentina in an offshore account is 4.6% tax free and that is an account with min stake of 250K.You sometime see adverts for 5.5 in the papers but that is before tax and generally with a catch that you naturally have to move your chequing account to this bank and start your deposit account on £0,can only deposit £250 a month for 12 months and then you revert to their normal rate which is probably 4%.
Have read a lot of sensible comments on housing market on this forum and to be really honest the only true way to measure house price inflation is over a minimum 10 year span.I rent out flats in London and have seen small rises over the last 3 years but over the full 10 years its probably 165%.That is nearly 14% per annum.BUt if I sell I walk quite soon into capital gains tax area.Thought long and hard myself 3 years ago about buying in H/Hin and moving over from South Africa but found the lifestyle not to my suiting as am a demon for the drink,do not play golf and found it pretty boring at the best of times.Am now settling in Argentina with farang girlfriend (had my fair shair of thai ladies however) and will buy land and build when I am sure that is what I want,till then I rent.Digger

[exman]

To buy proprties in good location has always been good in the long term so if you complain and do nothing and invest your money in renting houses or hotel nights is up to you.
But dont come 5 years later and say-why didnt I bought it before when it only cost 4 millon baht because then I will say -Som Nam Naa

[klikster]

Houses are a safe bet, buy land, buy land and spread your roots came the cry!
Houses are a walking minefield stay the fck away.

Confusious Confusion on it all!

While I don't agree in how every falang and his/her dog is encouraged to buy overpriced land/housing. I'd like to put forward the question.

Has anybody on this forum actually bought and then sold a house in Thailand and made a profit?

Yep, but through a Thai nominee/friend .. not a "Thai Company."

[richard]

Used to live in Zimbabwe

Look what has happened to that!!!!

I'm renting and investing in London properties

[Name Taken]

I take it you've had a read through this thread:

http://www.huahinafterdark.com/forum/vi ... php?t=1507

My take on it all is simple: if you can afford to lose it then buy it. If its all you have in the world then wait until its more secure or buy elsewhere where you can own it.

That is spot on, Thais do not seem to care much about farangs personal property and/or personal security either and i think the laws here in Thailand reflect that.

[norm]

A year ago I was going to build a house on a nice piece of land in Palm Hills. Then I got to researching the problems with the local builders and the problems with setting up a company. And a 30 year lease seemed like a short time for a large investment.

We are now quite happily leaving in a condo. Which is legal and we do have the chanote. Didn't think I would like living in a condo. Since we have been here a few months I find it quite enjoyable. Being right on the beach is a big bonus. And so are the views.

Something to consider. Anyone want to buy a rai of waterfront land at Palm Hills Golf Course. It comes with a family lifetime membership.