Condo in thailand

[Hakoshu]

www.thelinkcondo.com

The smallest unit starts from 119k sgd.. Is this a good buy, kindly advise

[Red_Tirak1099]

Originally Posted by Hakoshu

www.thelinkcondo.com

The smallest unit starts from 119k sgd.. Is this a good buy, kindly advise

Cant read thai dude, no info so cant give any advice but the the location seems a bit off....
Do your homework b4 buying any property if not you might end up with a lemon. I went to a launch for this development The Green Ninth on Prama 9 with starting prices of USD50K for a studio unit (just a guide cant base much on price alone). Word of caution, many new condos dont see it to TOP. I did a post abt it here http://forum.sammyboy.com/showpost.p...1&postcount=22

[longgun]

Originally Posted by Hakoshu

www.thelinkcondo.com

The smallest unit starts from 119k sgd.. Is this a good buy, kindly advise

a condo in thailand is never an investment unless you are talking about those multi-million dolllars condo.

The new condos are built and promoted every day. Just too much of them around nowadays. Its already a glut and you probably will have problem selling out later. Unless you buy and reside there everyday, else renting out will also be a problem. Too many of them.

Also the structure of these condos are also not as sturdy as our buildings in SG. If you come down and physically see them, you will see why they are cheap.

[Red_Tirak1099]

Originally Posted by Norikasan55

Actually I'm more curious about how much is the monthly maintenance fee? Also how much is the down payment 10% or 20% or 100% or can installment? For non-thai citizen to purchase what are the requirements?

Minimum 30% downpayment required if taking loan from Singapore banks for purchase of overseas property, its possible to take out a loan from Thai banks too but heard its a hassle & not clear on how much downpayment needed or what requirements to qualify for one. Singapore bank loans can be SGD or USD denominated, also bear in mind cannot utilise CPF & loan repayment period is shorter, maximum 20 years if not wrong.

Maintenance/conservancy fees are determined by size of the condo unit, charge by per square meter and though it is calculated on per month basis...total 12 months must be paid in advance. Average rates range from 25-50 baht/sq.m./month

I agree that Thai residential property not good for investment purposes. Those who have more in depth knowledge feel free to share or correct me if I am wrong

[siamcutey]

Originally Posted by Red_Tirak1099

Cant read thai dude, no info so cant give any advice but the the location seems a bit off....
Do your homework b4 buying any property if not you might end up with a lemon. I went to a launch for this development The Green Ninth on Prama 9 with starting prices of USD50K for a studio unit (just a guide cant base much on price alone). Word of caution, many new condos dont see it to TOP. I did a post abt it here http://forum.sammyboy.com/showpost.p...1&postcount=22

Originally Posted by Norikasan55

Actually I'm more curious about how much is the monthly maintenance fee? Also how much is the down payment 10% or 20% or 100% or can installment? For non-thai citizen to purchase what are the requirements?

Aiyo, many developers gone bust.
Those that didn't go bust take years to start their 1st piling work.
And they take years to TOP. If can't hit expected TOP date? Sue them? Waste of time.
Deferred payment scheme is a waste of time and wrong avenue because your funds get locked in the wrong place.

What about investing in a done up condo?

The return yield though may be a good 8% rental yield, but they have no capital appreciation potential at all. Selling is not that easy too. With so many condos sprouting out of nowhere, Supply is more than Demand easily. After 5 years, ppl just move to a newer condo with a cheaper rent.

Whether its 10%, 20% or even only 1% downpayment, with their instalment scheme and their bank interests rates, its not worth it at all after doing calculations. If do not use bank loan, and fully pay up, thats even worst as money gets locked up in the condo and can only get back little by little from rental monthly(provided it gets rented out) Empty condos are aplenty in Bangkok.

And with such an unstable government with the military law holding the strings, I wouldn't invest my money in this country.

High risk equates to high returns. But just that the returns here to buy a condo in Thailand is not high enough with the amount of risks involved.

And I can safely say that to park money in shares can be better returns and lower risks than parking money in condos in Thailand.

SC

[siamcutey]

Originally Posted by Red_Tirak1099

Minimum 30% downpayment required if taking loan from Singapore banks for purchase of overseas property, its possible to take out a loan from Thai banks too but heard its a hassle & not clear on how much downpayment needed or what requirements to qualify for one. Singapore bank loans can be SGD or USD denominated, also bear in mind cannot utilise CPF & loan repayment period is shorter, maximum 20 years if not wrong.

UOB Singapore offers bank loan. That's if you earn 70K per annum(if I am not wrong). But then people who hit above this income bracket will not invest their money in thailand condo.

Originally Posted by red_tirak1099

Maintenance/conservancy fees are determined by size of the condo unit, charge by per square meter and though it is calculated on per month basis...total 12 months must be paid in advance. Average rates range from 25-50 baht/sq.m./month

Around this figure, and must pay 12 months in advance

[Red_Tirak1099]

I think for many in land scarced Singapore it is an exotic notion to be able to own property for a fraction of the price in Singapore.....nevermind even if its 1425km away

[zunbo]

if u bros buy for stay or let your tirak stay ok not for investment lah. invest our gdp better

[Hakoshu]

Buying to settle down of cos.. Invest?? hard to earn

[pocketrocket]

Originally Posted by Norikasan55

For non-thai citizen to purchase what are the requirements?

If I didn't remember it wrongly, foreigners cannot own any property "outright". He must co-share with at least a Thai citizen (Foreigner not more than 50%).

Having said that, the lawyer can make a clause in the agreement that the Thai national cannot sell the property off without the foreigner agreeing even if he got more than 50% of the share.

The details, I'm not too familiar. The info was gathered when I made some inquires a few years back. Hope this will help

[siamcutey]

This project is by Harrison and if it is really so good to be sold like hot cakes, the company would not be engaging a marketing agency to market for them this condo in Singapore.

SC

[siamcutey]

Originally Posted by pocketrocket

If I didn't remember it wrongly, foreigners cannot own any property "outright". He must co-share with at least a Thai citizen (Foreigner not more than 50%).

Having said that, the lawyer can make a clause in the agreement that the Thai national cannot sell the property off without the foreigner agreeing even if he got more than 50% of the share.
The details, I'm not too familiar. The info was gathered when I made some inquires a few years back. Hope this will help

For landed, there is no way the foreigner's name can be in the title deed.

Having said this, some ppl thought that they can use the loophole of the property system, but let me explain it in more simple terms.

Example the Khon Thai buys the land, the foreigner pays for it and also signed an option that he is the tenant and signs an option for a period of 30 years to 'lease' the land from the Khon Thai. Blah blah.... in the process, of course the Khon Thai not allowed to sell the land without the permission of the tenant(which in this case is the foreigner). In addition there could be an additional clause for the foreigner to have an 'option to renew'. In legal terms speaking, the foreigner is just a tenant and not the owner.

In legal disputes, seriously, the tenant has no power at all. All lawyers just want earn money so they think of ways to go around loopholes for foreigners to so-called own land in Thailand. But what they did not say is the rights and in the event of a legal dispute, how protected is the foreigner and what are his rights?

**And if the Khon Thai wants to sell land, need the permission of the foreigner, so though the foreigner pays money and if he wants to sell and yet the Khon Thai don't want to sell, it means this land cannot be disposed of to get the money back.

What is the use of buying property when it cannot be sold? Bottomless pithole.

SC

[siamcutey]

Originally Posted by Norikasan55

Wa eye opening.... didn't know so much "holes" in buying property in bkk... if become PR should be able to own land right? Of course can't buy for invest more towards for staying.

If really want to invest, build hotel good? or maybe motel in bkk do you think that will give good return than condo?

Nope. PR still cannot own land.

Anyway, building hotel and motel is another ball game altogether. A lot of money and legality issues will have to be sorted out before plunging in.

End of the day, things to look at Buying property is still location location and still location. Location f-up, buy also no use.

SC

[pocketrocket]

Originally Posted by siamcutey

Nope. PR still cannot own land.

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

[vmtech]

actually ok la... if you're planing to buy 1 to live in , instead of an investment, i think is ok lo