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      Check your foreign currency exchange rates against the Thai Baht with Bangkok Bank.

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 or BOI.

  - 49% max of land/ buildings in a company or 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.

 

PROPERTY BUYING IN NEW ZEALAND WATCH OUT?????

BUYING A CONDO IN NZ then finding out it leaks?????

Source: From the NZ Herald Jan 09

Elizabeth Biddle sits with her cat Lily in her little flat near Auckland's Newton Gully. A fake Christmas tree brightens up the place, but she doesn't feel much like celebrating.There is a summary judgment lying on the kitchen table. Served by the body corporate, it demands more than $17,000 as her share of repairs to apartments in the 60-unit Sienna Terraces complex. Biddle says she has already paid $52,000 in levies and has no more money.She says she bought the apartment in 2006 knowing it was an "alleged" leaky building and was told the council would pay for any repairs.
It was a costly mistake. Sienna Terraces owners' committee chairman Bob Tuxford says it will be "sad" if Biddle loses her home but he needed to consider all the owners. "Elizabeth Biddle knew full well it was a leaky home ... The [other owners] have paid their money and are getting on with life. It's over to the lawyers to decide what to do next."She will be bankrupted and her assets will be sold
to fulfil debts. It's probably happening all the time."


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
BUYING A HOUSE IN NZ THEN LOSING IT???

Miranda Patrick was a happily married, high-flying management consultant when she and her husband built a "big, expensive dream house".Constructed with then-fashionable monolithic cladding, the home in Strathmore Park, Wellington, had a registered valuation of more than $1.2 million when completed in 1994.Within months, said Patrick, the house had started to leak around the windows and woodburner and through the cladding.Its failure to get a Code of Compliance Certificate was just the start of her "hellish" experience.She and her husband tried to get the house fixed, but nothing worked for long. Years of disputes with the builders and costly repairs followed."By the third time I had paid to fix a specific leak, I said: 'What the hell is going on here, this is insane'. It was like being in quicksand."Patrick's marriage broke up. She and son Cameron moved out. She tried to rent the house but tenants complained about the leaks.The house was transferred to a family trust. At one point, the trust's executors described it as "untenantable". One quote for repairs put the cost at $525,000.Worse still, Miranda and Cameron became sick, she with cancer of the tongue and throat and he with unexplained illnesses that saw him hospitalised four times.They were told just before Christmas 2006 that the house contained dangerous mould and they had to get out immediately.At one point, they were living in a friend's garage."No one goes from a 325sq m house to a garage without good reason," Patrick says.

Last February, after mediation failed, she went to the Weathertight Homes Resolution Service to seek compensation from Wellington City Council, the builder and the window provider.The case was deemed out of time and Patrick was ordered to pay $160,000 costs.She appealed to the High Court, but, three weeks ago, heard the figure would be reduced by only $30,000. It was the last straw. After a 14-year battle, she has accepted the house will probably be sold by the family trust to recoup some of the hundreds of thousands of dollars in losses. "It's time to throw in the towel," she says. "This year's Christmas present is that we will lose the house as well." Nobody knows exactly how many leaky buildings are in New Zealand. One of the leading experts on the crisis, Homeowners and Buyers Association president John Gray, reckons at least 80,000 homes could be affected. He describes it as a "national disaster" and says there are no winners, except the lawyers.

The Sienna Terraces owners' committee is also employing law firm Grimshaw & Co - which had such a good 2008 it shouted staff a trip to Fiji - in its joint action against the council for signing off the development. Patrick says a "no fault" solution is needed desperately. The "wasteful"
Weathertight Homes Resolution Service set up by the last Government should be scrapped and the money spent on repairing shoddy homes. The Government has said it favours that approach, but firm proposals have yet to emerge.Building and Housing Department officials announced
a "full evaluation" of the service when they briefed the new minister, Maurice Williamson, in December.They said the service's objective of working to ensure the early repair of affected homes "is not being substantially achieved".The results of the review are expected early this year, but that's likely to be too late for Patrick and others in her situation. "I am really stressed, I can't sleep, I am expecting to lose this place," says Biddle. "This has been a nightmare for three years. I have even thought of stopping the mortgage, locking the door and disappearing." Angry and disillusioned, Patrick is unable to work and contemplating leaving the country. "I have gone from being rich to being unemployed. And for what? I built a house - that was the worst thing I did."

GUESS WHO THE WINNERS ARE

A boutique Auckland law firm has made so much money from leaky homes litigation that it is believed to have rewarded its staff with an extra special Christmas party - in tropical Fiji. Grimshaw & Co, which has represented more than 5000 unhappy buyers of damp homes, said earlier this year that it was not riding a gravy train, and that its fees were "reasonable and justifiable". Yesterday, Grimshaw staff said they had been told not to say anything about the trip, though friends and Facebook profiles indicated they had spent several days there at the end of last month. It comes after the Herald on Sunday last week revealed the lavish $40,000 Christmas party BNZ had thrown for its executives, only days after warning of thousands of New Zealand job losses in the economic downturn. And this weekend, Hanover Finance owner Mark Hotchin apologised for the "appalling timing" of his 50th birthday bash at Fiji's Vomo Island Resort, coinciding with the troubled company's plea to its out-of-pocket investors to support a rescue package.

Tim Rainey, a partner at Grimshaw, refused to confirm or deny that the company had shouted its two dozen staff a beach junket to Fiji. "It's a matter between us and our staff. As with many privately owned businesses, attracting and retaining great staff is crucial to our business. "As a result, we have always been as generous as possible at Christmas time in recognition of the hard work they do for our clients over the course of the year." Auckland City Council finance and strategy committee chairman Doug Armstrong, who had been told of the trip, said there was no doubt that law firms like Grimshaw had thrived during the leaky building debacle.

This has always been the case in NZ with lawyers benefitting from peoples miseries. They don't care??? & they charge what they like???no different then the USA

More than 500 New Zealanders are living in cars, tents, garages and other makeshift shelters while at least 12,000 spare rooms lie empty in state houses occupied by single people. At the same time there are 502 people living in garages, campgrounds, cars, caravans or on the streets while waiting for a state house including 117 children under five years old. The worst housing shortage is in South Auckland, although demand also outstrips supply in Wellington, Nelson and Christchurch.




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