Condo in thailand

[pfingo]

use this? http://www.uob.co.th/personal/housin...ome-loan.htm#2

[siamcutey]

Originally Posted by pocketrocket

Actually, like that very misleading coz they keep "selling" land and properties to foreigners on the Papers and Ads

They are just selling the condos and not the land in our local papers.

They love to launch some projects in Singapore because in Thailand after conversion, 300K SGD is quite pricey to many in Thailand while in SG, 300K SGD is affordable to many SG investors. SG investors think that with a lower capital outlay and higher rental yield, its worth it. But is only part assumption. They should go there and see the oversupply of condos and see how many of those developers are flying wayang. If they are trustworthy, many of these projects would have TOP on time and not delayed. God wonders with the progressive payment, what these developers are playing with your money.

SC

[siamcutey]

Originally Posted by pfingo

use this? http://www.uob.co.th/personal/housin...ome-loan.htm#2

Nope, use this

http://www.uob.com.sg/pages/personal...lhomeloan.html

http://www.uob.com.sg/internationalh..._homeloan.html

The corrected income level should be 100K SGD per annum and allowed to borrow up to 70%

Copied from their Q&A
What are the interest rates offered?
• Loan in SGD: SGD Prime Lending Rate (currently 5.00%) + 1.00% = 6.00% p.a.
• Loan in USD: USD Prime Lending Rate (currently 8.25%) + 0.50% =8.75%p.a.


SC

[Mr.romantic]

Originally Posted by siamcutey

God wonders with the progressive payment, what these developers are playing with your money.

they use the money go to G-Club play girls and arpnam loh. what else?

[justl00king]

Me think not wise to buy there. Renting better option.

[naemlo]

Interesting topic. There are ways to own a "home" in Thailand.

1) If a foreigner wishes to buy a land n build a house. He can obtain a long term lease on the land. Typically 90 yrs, there is a catch here, u are allowed 30 yrs lease initially n have to renew 2 times for another 60yrs. He then needs to apply for construction permit to build the house. This is 1 of the legal way to own a land n house under his name.

2) Marry a Thai wife n uses her name to purchase a land n house. If wife passes away n there is no will, husband or son/daughter are the first person who will receive the inheritance. If she made a will that husband is the sole inheritor of the house and land, then the husband will have it. In both cases, husband has to contact the Department of Lands, and they will allow husband to own 1 Rai (1,600 sqM) per household and sell the rest of the lands within a year.

3) Foreigner is allowed to buy a condo unit under his name. The total no. of foreigners allow to purchase is 49% of the whole project. This means, if there are 100 condo units in this project, max 49 units can be sold to foreigners.

[siamcutey]

Originally Posted by naemlo

Interesting topic. There are ways to own a "home" in Thailand.

1) If a foreigner wishes to buy a land n build a house. He can obtain a long term lease on the land. Typically 90 yrs, there is a catch here, u are allowed 30 yrs lease initially n have to renew 2 times for another 60yrs. He then needs to apply for construction permit to build the house. This is 1 of the legal way to own a land n house under his name.

In Singapore, already got some people complain buy HDB is like never belongs to them. It's like leasing from HDB. Anyway, end of the day, buying a property is an asset. Meaning to say must be able to buy and sell. With this kind of lease terms, prospective buyers will not buy, neither can sellers sell. If the prospective buyer is khon thai, and wants your land, he will think of 'loopholes' to possess your land.

Originally Posted by naemlo

2) Marry a Thai wife n uses her name to purchase a land n house. If wife passes away n there is no will, husband or son/daughter are the first person who will receive the inheritance. If she made a will that husband is the sole inheritor of the house and land, then the husband will have it. In both cases, husband has to contact the Department of Lands, and they will allow husband to own 1 Rai (1,600 sqM) per household and sell the rest of the lands within a year.

The part on where there is no will and the thai wife pass away, I did read somewhere before that the land wil be passed on to the immediate next of kin who is THAI by birth. pass to the father, the uncle, cousin, distant relative, only a Khon thai.

[siamcutey]

Originally Posted by justl00king

Me think not wise to buy there. Renting better option.

You can buy there, provided of course your headaches do not supercedes your investments.

hehehe
SC

[Red_Tirak1099]

Originally Posted by naemlo

Interesting topic. There are ways to own a "home" in Thailand.

1) If a foreigner wishes to buy a land n build a house. He can obtain a long term lease on the land. Typically 90 yrs, there is a catch here, u are allowed 30 yrs lease initially n have to renew 2 times for another 60yrs. He then needs to apply for construction permit to build the house. This is 1 of the legal way to own a land n house under his name.

This is worse than our 30, 60 or even 99yr leasehold properties....land should be freehold.....long term leasing not = owning.

2) Marry a Thai wife n uses her name to purchase a land n house. If wife passes away n there is no will, husband or son/daughter are the first person who will receive the inheritance. If she made a will that husband is the sole inheritor of the house and land, then the husband will have it. In both cases, husband has to contact the Department of Lands, and they will allow husband to own 1 Rai (1,600 sqM) per household and sell the rest of the lands within a year.

What SC said is true.....anyway we dont marry & wish for wife to die right? (this got similarities with another argument going on in another thread)

3) Foreigner is allowed to buy a condo unit under his name. The total no. of foreigners allow to purchase is 49% of the whole project. This means, if there are 100 condo units in this project, max 49 units can be sold to foreigners.

Onli for condos built on land designated by Thai govt as "foreign". The 49% rule is waived for BKK & few other municipalities.

[Fernando Torres]

Originally Posted by siamcutey

In Singapore, already got some people complain buy HDB is like never belongs to them. It's like leasing from HDB. Anyway, end of the day, buying a property is an asset. Meaning to say must be able to buy and sell. With this kind of lease terms, prospective buyers will not buy, neither can sellers sell. If the prospective buyer is khon thai, and wants your land, he will think of 'loopholes' to possess your land.

Well, i think that you are talking about speculating on land purchase rather than buying a house to stay. As long as you have a roof over your head can be considered lucky. Go India and see and you will know.

In China, where I have been looking for a property, the lease is 50 years, yet the market is still vibrant with all the buying and selling.

In the end its not lease hold or freehold, its the location of the property, and the country's economy. So I rather think that we are all lucky in SG that HDB provide a home for all. Just my 2 cents and I know i am a newbie among the heavyweights.

[siamcutey]

Originally Posted by Fernando Torres

Well, i think that you are talking about speculating on land purchase rather than buying a house to stay. As long as you have a roof over your head can be considered lucky. Go India and see and you will know.

In China, where I have been looking for a property, the lease is 50 years, yet the market is still vibrant with all the buying and selling.

In the end its not lease hold or freehold, its the location of the property, and the country's economy. So I rather think that we are all lucky in SG that HDB provide a home for all. Just my 2 cents and I know i am a newbie among the heavyweights.

Well, in singapore, those having a HDB flat compared to other countries, is considered very very lucky. But then again, there are detractors who always say singapore no good, this no good, that no good, commenting that HDB is a pigeon hole whatsoever. However because they have not gone to other places to take a look to know how lucky they are.

With a HDB flat direct from HDB and taking a HDB loan, there are many people who rented out their HDB flats(after a lock-in period) earning a 10% return yield. Shocking??? But the figure is true. Some will say HDB flat is leased from HDB and one never really owned the HDB. So what? It's only 99 years. Like it or not, one have 99 years to live it out or sell it on resale market along the way. If really want buy something that is yours, go buy a FREEHOLD or LEASEHOLD.

There are many people who wants to buy a property in Thailand. Citing lower cost of living, cheaper housing, big land, high returns. However its not so easy. Whether its leasehold or freehold, end of the day if the rules and regulations are not stated clearly and to the foreigner's benefit, it is forever going to be high risk for people who buy it.

Some say buy for own stay. But buying property is supposed to be an asset not a liability. In the event if selling is going to be difficult or near impossible, how can buying a property for own stay be worth it?

What I am sharing here is the potential and also the various pitfalls and so-called loopholes many can think of. We may think we are smart to outsmart them in Thailand. But let's not forget, even a democratic government can be toppled by a military coup. Laws bypassed as and when they like. If there are people who still want to go ahead and use their money to buy land in thailand using the 'smart' loopholes, they are free to go ahead. But kenna fucked behind by people is something one must be prepared. Lawyers cannot protect anyone too. And the amount of money we are talking about here is not few thousand bahts whatsoever but million of bahts. few thousand bahts go MP fuck wrong girl still nevermind, but make a wrong investment...one should go figure....

Foreign country is not our platform and should invest in something one is familiar. If developer in Sg gives the wrong materials, still can sue him. If developer in Thailand goes beyond the TOP date, try doing that. Some people in batam can even have their own house ripped out without them knowing what actually happened. In the land of smiles, make sure when something happen, you don't just get a smile from them to forget matters.


SC