Will condos get hot

[ITKMAN]

I live in state where land may be owned by an individual or a trust. the trusts reveive lease payments and the lend is know as lease hold. Fee simple land can be owned by people and is knon as Fee Simple property.

Now, the question si will condo law stay trhe same and will condo prices go thru the roof...

I expect that there will be a big backlash from the developers such that this may wash out all the problems and soon the Farang will be protected and inducted to buy a house.....Big Farang money comes into thailand for home purchases....probably second in cash influx to Mia Noi deposits ,(shall we call the Issan Cash Pipline Mia Noi Deposits).

[Jaime]

Don't know the answer to the question in the OP but I thought the statistics on the percentage of foreign property investment in this article about mortgages for foreigners from The Bangkok Post (Oct 2005) were interesting. At least two commonly held beliefs - that foreigners dominate the market and that they are mere absentee speculators - appear to be dispelled by the stats.

Overseas buyers are benefiting from the Thai housing market

Bangkok Bank sees good response from clients in Singapore, and believes more can be done to attract overseas buyers to the Thai market

A significant change in the Thai property market this year has stemmed from a move by Bangkok Bank to offer mortgages to foreigners to buy Thai property through its Singapore branch.
Foreigners have found financing a property purchase difficult due to Thai law, which restricts expatriates to a 49% stake in the net saleable area of a condominium and land leaseholds to just 30 years, especially in Phuket, with just two 30-year extensions.

Since loans were introduced to foreigners, the Singapore branch of Bangkok Bank has received more than 100 inquiries, according to manager Torphong Charungchareonvejj.
Mr Torphong expects other banks to follow suit, adding that loans for foreign property buyers were good for the Thai economy because they would spur demand, but added that there were risks.

CB Richard Ellis Thailand's survey of 807 condominium units sold in the second quarter of this year shows that 67% of the buyers were Thai and 33% foreigners. Of the latter, 46% were European, 33% Asian, 16% American and 1% African.

The real estate agency's survey also revealed that 63% of foreign purchases were for owner occupation and 37% for investment. The preferred layouts, in descending order, were two, three and four bedrooms, one bedroom and penthouses.

Investors can expect net investment yields for freehold assets in prime locations to range between 5-6% in the office sector, 5-7% in the apartment sector, 8-10% in the retail sector and 8-12% in the rental factory sector.

[lomuamart]

Without looking at that too closely, Jaime, I seem to remember that this was about the time that good ol' Mr T was lining up the Shin Corp sale.
Cynical, yes. But attracting Singaporean investment in Oct 05 and the sale happened, when? Dec 05/Jan06?.

[Jaime]

Take your point Lomu but the reason for posting the article was more to do with the percentages of foreign ownership, rather than the investment routes and yields.

[lomuamart]

Fair enough, Jaime. I was going to write originally about the survey as well but wasn't sure from the context whether it simply referred to purchases in Thailand - or through Singapore.
It would seem obvious that it's purchases in Thailand. So, yes, interesting figures.

[Jockey]

Will condo's get hot?..........they will if the air cond is broken!


OK - I'll get my coat

[Guess]

Yes very true. If you cook in the condo you will find it will get even hotter. People also generate several litres of hot air every second so it is very wise not to allow any people in your condo.

My advice if you insist on living is a condo is:

Always have a backup air con unit on standby.
Eat out.
Do not smoke.
Never under any circumstances invite people in but if they sneak in unexpectedly after a night on the piss in Soi Binterbaht make sure you aviod the topics of land ownership, religion and the Bridge Over the River Kwai.
Keep plenty of ice in the condo at all times.
Always go to a neighbour's condo when you need to use the toilet.

[Jockey]

Guess - that made me laugh! Here are a few more tips:

Never leave 2 doors open at one time unless you want to amputate your fingers.
Never use the internet connection via the reception (it'll cost you 10,000 baht per month re-connection fees).
Always remember the guy in uniform saluting to you is actually spying on you.
Ask yourself why out of the 200 condos in the block, you are the only one who lives there permanently.
If Old Mother Hubbard is your neighbour ask yourself if your condo is big enough!
Save yourself money. Buy a cheap townhouse up by the canal and get an artist to draw a murel of the sea on the wall.

[clive]

Good reply you two but Jockey how do you suggest I get the ownership for the land for the town house transfered?

[Jockey]

Good reply you two but Jockey how do you suggest I get the ownership for the land for the town house transfered?

Just explain to the officer at the land office you have nothing to do with the pool league and after nazi-style interrogations he might just take pity on you.

[tuktukmike]

I know i should not post this but here goes.

Last week we all saw the posts about the farang Racists regarding the pool league.

This week we see that posts say that Thais are Racist for enforcing their excisting laws.

I give up.

Mike.

[Kraka's Dad]

Sometimes you just cannot win

[Jockey]

I know i should not post this but here goes.

Last week we all saw the posts about the farang Racists regarding the pool league.

This week we see that posts say that Thais are Racist for enforcing their excisting laws.

I give up.

Mike.

Mike - Just where on this thread or any other thread has a post said "Thais are Racist for enforcing their existing laws"? If you were referring to my post above, I suggest you take a humour pill and read it again in the context of the previous posts! Chill oot man

[Guess]

I give up.

Mike.

That's the best news I have heard all week. I hope you have the resolve to sustain your abstinence.

[tuktukmike]

Here, if you had checked you would have of course seen it.

I think you jumped the gun Jockey, chill out.
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Approach your politicos from these angles: racism and injustice. Because that’s what it is.
Racism and injustice. Raise a big stink about it. Act!
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Did ya nae see tha post shuggie.

And it was of course meant with humour, an English thing.

Mike.