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& the NZ Comparison
It is a good time to buy property in Thailand. Banks are lending & property prices are now dropping due to the insecurity of the present economic situation. However only if you have the spare cash but don't look at condos as a cash earning venture unless you get a bargain from an outgoing expat etc. The worse hightmare will be the Management themselves in Thailand as many condo complexes have bad management and sinking funds are not used appropriately. When buying check out and talk to other owners in the building and especially about maintenance & other project\s the owner has. He/she may have over committed?? Thailand SET index has also been dropping as foreign investment is tending to shift to other countries. The situation with The Baht, and the USA and Japan's firm belief in defending the Yen, won't change much from what it is. If anything perhaps few Baht swing only. LAND
AREAS: 1 rai = 4 ngarn = 400 wah2 = 1600 m2; 1 talang wah = wah2
= 4 m2; 1 acre = 2.53 rai & 1 ha = 6.25 rai
To date foreigners may
own
- a unit in a registered Condominium
- a
building (as distinct from its land)
- a
registered leasehold of up to 30 years for all types of titled land
(and/or buildings).
- a company can purchase land and buildings 49% foreign shareholding but
must carry out business as well.
- not more than 49% of a condominium unless done in Company form unless BOI status.
- 49% max of land/ buildings in a company unless under BOI status
- 1 Rai of land if they invest 40m baht in Thailand.
- Usufract Interest or (sidhikepkin) allows a foreigner to have
temporary ownership to certain things in Thailand. Its really limited to
30 years but can be renewed just like a lease.
However, a 30-year lease can be a good idea
with right to renewal to a freehold purchase, or a Thai company (7
PARTNERS) can be established with Thai majority shareholders. Foreigners
own 49% shares in the company buying land but we can assist you to make sure your
company is safeguarded. Remember if you need advice check first before
you commit yourself.
THAILAND HOUSING SITUATION OCTOBER 2007
Thailand, housing loans make slightly above 50% of total household debt. Thailand after suffering from political crises, have not yet recouped the confidence of investors. This resulted in a drop of 5.09% in 2007 in Thailand’s house prices, down from an 8.03% increase in 2006. Housing in Thailand is a buyers market if you have the cash. The only problem is foreigners can only really buy into condos but these are bargains in the right places and locations. Thailand has gone the opposite way from NZ where salaries are not up with the rise of housing prices making it not even worth considering to buy unless you have cash. Although foreigners are unable to borrow in Thailand (can if they own a factory ) if they have cash it’s a good market. However don’t look at the Thailand situation as a rental investment as the rental incomes are not great. However as a long term capital investment one should be able to recoup a small profit. In this respect Thailand is still on a building boom and theres many condos out there especially in Bangkok and Pattaya, Phuket so one can choose what they want. However be careful and follow our Property guide to buying found on 2 of our websites: www.chiangmairealty.com or www.bangkokrealty.biz
WHY USE OUR SERVICES:
- We work for you (Both Thai & foreign consultants ) & have excellent accountants in NZ
- No hidden charges-everything is up front.
- Guaranteed conveyancy help & Company, work permit & land setup for foreigners
- We will sell your Commercial property, houses, businesses, bars and Guest Houses
- Because you have the benefit of foreign help with our Thai lawyers and expat consultants
- We offer: Full house onsite appraisals. Cost is 3000 baht for a house under 2 years old & 6000 baht for older houses ( plus travel if out of town ). This 5-6 page report is a must if you want to know what your house is really like which includes pics of repair work needed and we even do a air con survey (extra).
- Need help in Investments in NZ: See SPICER & ASSOCIATES in Levin NZ. Mrs Natalie Martin: for all investment information. She helps Asia Trading Post as well and advised against Bridgecorp to investors. Just write to us.
[ THAI LAW HELP SERVICE ]: We have many more properties. Just ask us. Let us broker your business or property. If we don't sell we don't charge you. Selling or wanting to Buy a Guest House, Restaurant, Business, Bar or Office then just ask us. We do not charge you to find your business. We even guide you to the best deal & help you form a company, partnership, year visa, agreements, leases, accounting services, taxation etc right to offering you FREE hardcopy promotions if you use our services.
BANGKOK REAL ESTATE Please go to : www.bangkokrealty.biz
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