Is it freehold for a good condo in Bangkok?
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Johor (Iskandar) Property Bubble Bursting
- Thread starter Pinkieslut
- Start date
Is it freehold for a good condo in Bangkok?
My personal take is that the place to make money in malaysia is still in the sub 500k region. Anything above 500k is going to hard
Actually if you talk about MRT (or BTS) station, it depends on which one. If the condo is in a far away station like Bang Na vs one in Asoke, there is a difference. Just like buying a condo in Orchard or Novena vs one near Choa Chu Kang station.
Well I guess it is still a good buy if you get one small condo near a BTS/MRT near town. It is good for rental.
My personal preference is near Asoke station, it is where the BTS and MRT (Sukumvit station) lines crosses there.
But be cautious, there is a fair bit of supply of new condos these 2 years.
However, good news is that the coup has not affected the local property market (forget what all the non-Thai media tells you).
For Pattaya, make sure you find one that is near the beach and not just in "Pattaya". Some of those that are advertise are a bit off. For me, I have low preference for Pattaya, heard that there are lots of Russians there. Some Russians mafia too.
Another 2 places to consider:
Chiangmai - the IN place now for PRC. More and more PRC are interested in Chiangmai. We may not like PRCs, but buying before the PRC enters the market can make a good profit. Anyway why PRC likes Chiangmai now? Because of this movie : Lost in Thailandแก๊งม่วน ป่วนไทยแลนด์ http://www.youtube.com/watch?v=v_6-FHDe44c
Nong Khai - very high potential, due to its close proximity to the Laotian Capital, Vientiane. After the Asean Free Trade area is fully implemented, I expect the cross border trade between Nong Khai and Vientiane to accelerate.
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Most condos sold to foreigners are freehold. In fact, up to 49% of the salable space in a condo can be sold to foreigners.
Buy one near BTS/MRT near town.
Foreigners cannot buy Malaysia properties that is < RM 1 mil liao.
KL and Penang are still good for investment. Malacca looks tempting, but I am not sure about the potential.
I'm very cautious about JB and Iskandar properties.
Aiyah. Through proxies lar
Brisbane properties also can consider.
How come no one consider canadian properties. I heard vancouver and calgary is very strong and there are some bargains in Toronto.
Eventually if the bubble really bursts, I see the malaysian govt lowering the MYR$1 million requirement so that more foreign buyers can come in.
Except Medini in JB. No restrictions. However it is only 99 year leasehold (not leasehold) from Khazana.
99 year lease is different from leasehold 99 years.
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I think so too.
Try explaining that to moron suckers who buy HDB flat.
Here we go again....
Is not even leasehold 99 years. Is leasing 99 year from Khazana.
Ownership under Khazanah.
Different from leasehold condo (anywhere in the world) or HDB.
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They are having a lot of issue with the IPO, flip flop here and there.
Try to remember and relate to the CLOB SAGA.
Even the Prince there wants to get involve buying back your share at 10% value . Some poor soul sell as they urgently need the cash.
They can flip-flop the rules. Over there THE BUMIS rule and make the Rules..
As LKY said, the land is theirs and with their noses high in the air asked.
What can U do about it..???
The only property a foreigner can own that is freehold is a condominium. For landed property you need to set up a company.
However there are rules you have to be aware of if one is a foreigner. It must be one of the 49% of the condo units & not the 51% that is reserved for Thais.
http://www.fivestars-thailand.com/faq
How can a foreigner own property Freehold in Thailand?
A foreigner is only able to own Condominiums as 100% freehold in their name. No other type of property can be owned this way. This is possible under the Condominium act which stipulates that a development with a Thai Condominium Licence may sell 49% of the saleable area of a given building to non-Thai nationals under a Freehold title, the remaining 51% of the given building may only be Leased for a term of 30 years or sold to Thai nationals as Freehold in the case that a foreigner has a Thai Limited company they could buy a condominium in Thailand in the company name as a Thai freehold title. Note that even if the development is a condominium block unless the developer has applied for and obtained a Condominium licence they cannot sell any unit as a Freehold unit to non-Thai nationals. Some villa developments in Thailand may advertise Freehold ownership but as this is not possible under Thai law it is recommended to read the small print as to what they actually mean by this and have it verified by a lawyer.
On the same line..here PAP rules and make the rules..
Remember Rose Garden, a freehold land titled property.It was tear down and built a condo and changed it to a 103 years lease.
The original landowner will get back the land after the lease expire and ensure his future generations will never be short of land to build more condos. It ensures the land and wealth perpetually remain with the family.
The owner, developer is Ng Teng Fong .
He was also favoured with the abolition of Estate Duty Taxes of hundreds of Millions which the Tax-collector happily forego.
Mrs Lee and all Ministers also benefit from this tax exemption.
But they happily collect more revenue from liquor taxes from all drinkers and blame it on the Ah Nehs.
But they increase their Toto betting revenues with a 100% increase in bets cost and tell the poor and hopefuls it is bad to bet.
Their noses are also high in the air and ask..
What can u do about it..????
I'm actually looking for a place to stay & not as an investment.
There are many units available for rent in LOS so it is really not necessary to buy. However I may buy once I am certain that I like the lifestyle & area. So far I have only visited Hatyai, Bangkok & Pattaya Planning a visit the north because many people tell me it's beautiful in the north.
I saw some new condos being built opposite Emporium along Sukhumvit. If I was looking for an investment I would probably look at these. It is an area popular with the Japanese so I expect high prices.
There is also the new condos next door to the Ambassdor Hotel. A stones throw from the Thermae bar. It convenient because it is located between the Nana & Asoke stations.
I am looking at Pattaya because it was not affected by the floods & is close to the airport & Bangkok. There are of course many crooks there but it is the same with Spore
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