Who has settle down in Malaysia and Thailand?

[tonychat]

If you want to debate about politic open another room for politic. If you want to debate any country eg. Thai/Malaysia/Sg.
Please stick to the topic as started. Not diverted.
I glad to discuss about what is good and bad each gov.

Even till now, i am still trying to understand why the hell are you trying to tell others what to post and what not to post?? What makes you think i give a shit what you wanna discuss too.

my thread isn't revolve around your ass. It is for everyone to come in to have a chat.

 

[tonychat]

??????

Do you know the meaning of urban?

Urban = city living.

Suburbs is outside the city but the western definition is different from other countries. In western countries like the US suburbs are nice neighbourhoods with nice houses and in contrast the city area especially the inner city areas are ghettos with many blacks or hispanics living there. This is different from countries like say thailand where the cities are better off in terms of infrastructure, technology and convinence of shopping malls. In fact the outside countryside areas should be called boondocks.

Well, he even wanna have a serious discussion and dictate what others should post.. should he get his vocab right first?

 

[tonychat]

Another SG50 contribution to Sinkies


pros and cons of living in thailand:

My first trip to Thailand was 1977, and I was only 16. At that time I had an addiction to Africa and had read a lot of books about the early explorers, Stanley and Livingstone. I booked a safari to Tanzania. Unfortunately the trip was cancelled, too few participants. So the lady in my travel agency suggested Thailand, and I went to Bangkok, Grace Hotel and the downstairs disco was the biggest brothel in Thailand at that time. I didn’t participate in the game and the strongest drink I had was iced tea. I was just looking. A working girl, 19 years old, became my guide in Bangkok. She brought me back to her family’s house boat in a klong and asked me if I want to f@#$ her there. I told her thanks, but no thanks.

But anyway, I was struck with Thailand fewer. 3 years later after serving in the army I was back for 3 weeks, 1 week in Bangkok and 2 weeks in Pattaya. Pattaya at this time was a small village, only a few bars and discos. My room mate was a doctor of gynecology, 46 years old and in my eyes a very, very old man. He told me that if I want to take a lady of the night and make love, no problem, he would sleep well in the next bed.

I found a lovely Thai lady and we spent a hot night and I almost felt in love. I told my room mate, Mr. Doctor, that this lady is pretty, lovely, can I bring her here tonight too. Mr. Doctor told me, NO. If you want to f@#$ around in our room it need to be a different lady every night. To bring the same lady back each night is poor imagination. Now 30 years later I understand the wisdom of his words!

I followed my doctor's advice and the rest of the holiday I had a different lady every night. And he told me, don’t forget the condom or I will cut your neck. By the way, Mr. Doctor was a decent man, didn’t participate in the game, just enjoyed a massage from time to time and was “true” to his young wife in Farangland.

Back to the topic.

Thailand fewer is like malaria - when you get it there is no cure. Sometimes it burns and sometimes there are no symptoms. Now, after more than 30 years with this disease I can look back. What I write next is only my personal ideas. Moving to Thailand or not? A very personal matter, there is no correct answer to this question.


Professional Life

In Thailand I could open a restaurant, as I can make good European food. Or sell / rent houses to tourist. But the season is only 5 - 6 months and competition is tough. A lot of tea money to pay. Impossible to find good staff.

In Farangland I have a Masters Degree (nothing worth in Thailand for a 50+ man), conduct lectures and do the accounting for companies, easily making 5,000 Euro a month. In a few years I will have my auditor exam and can charge 80 - 100 Euro an hour. It’s hard to make a new career in Farangland when one is 50+ but it’s possible and I have my plan. If I’m healthy, I will still work when I’m 70. To be an auditor is not physically hard.


Women

In Thailand it’s easy to find a woman, for the night or more. I have never been a professional punter, very seldom bar fined girls, in fact I never go to gogo bars. It’s so easy to find a girl, a shop woman, a bank accountant, dentist, teacher... Just smile, invite her for dinner... and next morning you wake up in the same bed. “Never marry a bar girl, you can buy the girl out of the bar but you can’t never buy the bar out of the girl”. What I found out in my life is that dentists and teachers also have sick water buffalos back in their villages. There's no big difference to a bar girl.

Back in my home country, Farangland, I met a girl, not really a girl, she is 40. We have been together more than a year. She is 12 years younger than me. It’s so easy to pick up a girl in Farangland too, no big difference to Thailand. But what is the difference to a Thai girl... we can communicate. We are both children of the same culture and not always even need words to understand each other. And this love is true, not only about money for grandparents and gold to show friends. In Thailand it’s almost impossible to find a girl that really care for you, in Farangland it’s maybe not easy but possible.


House

My Thai girlfriend's brother was joking about stupid farangs who buy houses that they can’t own. My Thai girlfriend was laughing very much at that joke... and guess what, 10 minutes later she was seriously asking me to buy a house for her. I can’t resist but I love these words, “This is Thailand”.

In Farangland I own my house and nobody can take it away from me. When I was 40 I got very high fever, Thailand fever and was about to sell my house, take all the money with me and move to Thailand. Luckily I hesitated and didn’t sell. Now all the money would be gone on Chang beer and sick buffalos...


Alcohol

When I stay in Thailand I’m bored to death. Swimming pool, sexy girls, beach and bars. It’s fun for a few months. I like Chang beer too much and would probably end up as an alcoholic if I settled down in Thailand. This is more a rule than exception.

In Farangland I work during weekdays and beer is restricted to Friday evening at the sauna, maybe a few more on Saturday night but almost always under control. In Thailand I drink every day.


Friends

When you come to Thailand, usually with a big amount of money, it’s so easy to make friends. You meet them in bars. Yours and their Thai girlfriends also become friends. But sooner or later the problems start. Rumors behind your back and competition who has more gold hanging around the neck making every girl jealous. Sad but true, most farangs moving to Thailand are lost in their minds, not stable in their mental life. Escaping from problems that reside between their ears and not understanding these problems follow them wherever they move. Strong words but true. Sorry sirs, but I know because I was one of you.

In Farangland one has friends from childhood. You know them from the hearth, the bad sides and the good sides. No need for words, lies or explanations.


Communication

It took me 20 years of Thailand fever to understand that I don’t understand anything about Thailand. Sometimes I sit at a restaurant to have a nice noodle soup and a Chang beer. At the next table there is a couple, maybe 30 years old, he farang, she Thai. He speaks to her about Western values. She smiles but she don’t really listen. She want to send money to her “Thai boyfriend”, or maybe he is her brother. He needs new tyres for his motorbike and also would like to gamble. Maybe he will get lucky and be rich tonight. Farang man is speaking about future family life and children together. I quickly finish my Chang beer, check bill, and move on to next restaurant where I can sit alone, enjoy being alone. I get a headache from listening to “intercultural communication”.

In Farangland I can communicate without words. And we can read between the lines when we sometimes speak. On Saturday mornings when I put my shoes on my girlfriend asks if I will go to buy beer. I tell her to shut up and we both smile.


Getting Old

I’m 50+, getting old. How do I want to spend the rest of my life? Thai women are very good to take care of you if you are sick. They will take care of you and if you are a smoker and have cancer they will not nag at you. They will light a cigarette for you and make a whisky drink to wet your dry lips. Thai girls can be wonderful. Anyway I would feel lonely spending my last moments in a foreign country.

European woman might be fat, unattractive...but there is anyway a common understanding. I want to spend the rest of my life with my girl from the next village here in Farangland. It’s not teenage love, more of an adult relationship.


Conclusion

This is my very personal conclusion. If you are hit by Thailand fever, go for it! I’m also hit by Thailand fever and there is no cure for it. I will visit Thailand in the future, and do so as long as I live. You will not meet me in a gogo bar. I’m the old man sitting at the beach, enjoying a Chang of Coke. With a mysterious smile in his eye enjoying holidays in his Thailand fever land.

The man who knows he doesn’t understand.

 

[tonychat]

An SG50 contribution:-

Condo vs. Landed: Pros and Cons (in Malaysia)

With rapid development in Malaysia and the ever increasing population, much land area has been cleared for commercial and residential projects. This has led to scarcity of land which resulted in the emergence of high-rise residential buildings – apartments and condos.

High-rise living has become quite popular in recent years but some still prefer to live in landed properties such as terrace houses, semi-detached and bungalows. In fact, each property, condo or landed, has its advantages and disadvantages:

Space and Privacy

Landed properties come with a small plot of land which you are free to use as you please. It can be turned into a beautiful garden, a recreational area for your kids or an extra parking lot.

While the terraced houses are separated by walls, the semi-detached and bungalows have more space between each house. Hence, residents are less likely to hear noises from their neighbours which is a common complaint for condo units due to close proximity living. With more space and privacy, landed property is a better choice for big families or families with children.

Facilities

High-rise residences may lose out in space compared to landed properties but it compensates with common facilities which is accessible to residents only. Many high-end condos feature facilities such as swimming pool, gymnasium, community hall, reflexology path, landscaped garden, children’s playground, yoga deck, tennis court and much more.

All facilities are located within the condo compound for extra convenience. However, residents of landed properties will need to travel to different locations to access different facilities unless you have a bungalow with all the built-in facilities.

Maintenance fee

Many condos are built with common areas such as garden and other facilities which need to be maintained. The monthly maintenance fee is charged to residents. Some may find it a little unfair to pay the high cost of maintenance when they hardly use the facilities.

For others, the monthly payment is an additional cost of living. Since owners of landed properties maintain their own house and land, they need not worry about paying monthly maintenance fees.

Security

One of the top reasons cited for choosing high-rise over landed properties is safety as most of them are gated and guarded. All high-rise residences excluding low-cost apartments have some sort of security system in place. The system can be as basic as a guardhouse and guard patrol or a sophisticated one with multi-tiered security features including intercom, access card and CCTV.

Even though many residential areas also feature their own security system, it is much harder to manage due to the large number of houses spread over a wide area. Since high-rise residences mainly consist of several buildings in one small area, the security system would be more effective.

Resale value

When you purchase a landed property, you get ownership of the house and the land. You can continue to maintain the property for as long as you own it.

For a condo, maintenance is the shared responsibility of all its residents. Hence, if a large number of residents do not pay their maintenance fees, the condo may become rundown over the years. For these two reasons, landed properties generally have a better resale value compared to condos.

Conclusion

Many single working adults may prefer condo for its facilities but families with children would want landed properties for more space and privacy. For property investors, the resale value of each property type will play a major role in their decision. There are no hard and fast rules in this matter. After all, choosing the right property largely depends on your lifestyle and personal needs.

For a comprehensive listing for houses, click on ‘House for Sale’ or check out ‘Condominium for Sale’ if you prefer the high-rise option.

 

[tonychat]

SG50 Contribution:

I would like to stress that it is very important to position yourself to be able to fucked off from sinkieland whenever you want.. The best timing is when Sinkies in your land go crazy and PAP start chruning out ass screwing policies, you will still feel that you have a life ahead by getting out.

Cheers SG50

 

[syed putra]

If you want to retire in mudland, try Ipoh. The weather there is nice, lots of Chinese folks, and the place looks like a better version of JB, but without the tourist crowd and less crime.

Ipoh too far. Why not pontian, Batu pahat or even mersing. Nice small towns.can buy second hand fishing boat and go fishing once in a while. Or simply Live on the boat.

 

[tonychat]

Guide to buying properties in Malaysia:
http://expatriateadvisory.com/guide-to-purchase-completed-property-in-malaysia/
( They disable the cut and paste function, you have to go to the link to check it out)



Guide to buying properties in Thailand:
http://www.siam-legal.com/realestate/thailand-property-how-to.php

How to Buy Property in Thailand

Thailand Property
Wanting to buy a villa or condo in Thailand but not certain as to how this is done. Well here you will find the basic breakdown of what needs to be done and how to buy property or any real estate in Thailand.

Select A Property Agent

Since you will be looking for property in a foreign country you need expert local assistance. The agent knows how to communicate in Thai and they're familiar with the geographical area. The agent will save you valuable time in selecting and showing you the property in your price range that meets your needs.

Purchasing directly from the developer isn't going to save you money as compared to buying it from an agent. A quality property for sale in Thailand is generally offered at a fixed price by the Seller. The best benefit of using a property agent is that they will act as a liaison between you and the Seller. They will obtain a fair price for you and act on your behalf to represent your best interests throughout the entire process.

Legal Planning

Remember that you are spending part of your life savings to acquire this property and you must carefully plan your steps in the process. You need to know the correct legal process in Thailand for the foreigner to acquire property. Before you sign any deposit agreement or contract, you should sit down with a lawyer or solicitor to discuss the legal process.

Best Method Of Ownership

In Thailand, a foreigner may only own a condominium in his/her own name. If the foreigner wishes to acquire land and build a house, he/she should obtain a long term lease on the land (for a period not exceeding 30 years each term). Read more about "Leases in Thailand".

The foreigner should apply for the construction permit to build the house in their own name. This way the foreigner owns the house and has a secured long term lease on the land.

The lease can be written with the option to reassign to another person (if you sell), ability to sublease and with a purchase option (should the law change in the future to allow freehold ownership by the foreigner). Therefore, a lease is the most common legal method for the foreigner to acquire property in Thailand.

Title Investigation

A comprehensive examination of title deed recorded at the Land Department should be done. You need to verify that the Seller has clear and legal title of the land before you enter into a contractual agreement.

The title search will trace the land to its first possession. It will reveal any registered interests on the land such as mortgage or liens. This investigation will also verify the right to access to your property; the residential zoning, environmental and planning codes applicable in the area It is a good idea to make sure that you can build a structure on the land.

Deposit

When you feel satisfied with the property, you will be asked to make a deposit to show your good faith to continue the process.

In return, the Seller will reserve the property for you and start the process by drafting the contracts for purchase. Unless you write specifically a "get-out" clause in the deposit agreement, for example "subject to clear title" or "subject to agreement on the contract terms," the money deposited is non-refundable.

Review Of Contracts

The Seller will have the contracts prepared for you. Since the Seller will write the contracts, it is highly recommended that you have a lawyer or solicitor review the terms and conditions. You will want protection for your interests should there be a delay in the property being built. A proper remedy should be stated in the contract.

The contract will contain a clause for penalty if you are late with your payment. This should be fair and reasonable to both parties should the Seller default.

Your payment schedule and its ration should be reasonable and practical. Normally, a first payment is 25 percent. Thereafter payments are made on a progressive basis: 25 percent when the roof is on, 25 percent when the door and windows are secure; and 25 percent when the fixtures and fittings are completed for instance.

 

[Narong Wongwan]

Thanks for starting this thread especially the Thailand fever write up.....interesting read and in many ways mirrored my own story that started at 18 years old.
Will try to share when the mood hits me.

 

[NanoSpeed]

Thanks for starting this thread especially the Thailand fever write up.....interesting read and in many ways mirrored my own story that started at 18 years old.
Will try to share when the mood hits me.

You need numero uno as appetizer ?

 

[GoldenDragon]

Ipoh too far. Why not pontian, Batu pahat or even mersing. Nice small towns.can buy second hand fishing boat and go fishing once in a while. Or simply Live on the boat.

Ipoh abalones taste better!

 

[NanoSpeed]

Ipoh abalones taste better!

Ipoh famous for its hor fun, not abalone.

Last time a lot of Ipoh abalones ended up at Tiananmen, where chickens suddenly transformed into phoenix.

 

[eErotica69]

SG50 Contribution:

I would like to stress that it is very important to position yourself to be able to fucked off from sinkieland whenever you want.. The best timing is when Sinkies in your land go crazy and PAP start chruning out ass screwing policies, you will still feel that you have a life ahead by getting out.

Cheers SG50

Fine, you just fuck off from Singapore back to matland and get fucked by UMNO

 

[tonychat]

10 things to look out for when buying property in Malaysia
- See more at: http://www.themalaymailonline.com/m...ing-property-in-malaysia#sthash.k66qTOIm.dpuf

KUALA LUMPUR, May 3 — Everyone keeps saying the time to buy is now but with so many options and different factors in play, how do you make sure that you get the most bang for your buck when shopping for a piece of property?

Malay Mail Online spoke to Knight Frank Malaysia managing director Sarkunan Subramaniam, real estate lawyer Chris Tan and senior real estate negotiator at Property Hub, Roy Teo and found out the top 10 factors to look out for when hunting for the right piece of property.

10. Landscaping

We are not just talking about the landscaping of the landed property or the compound the condominium sits on. It goes without saying that your property must be at least pleasant to look at and well kept.
Sarkunan said the area or neighbourhood where the property is located has to be taken into account as well.

He said if the landscaping of the area is done right, it is a sign the local council is proactive. They will probably be on the ball when it comes to other issues as well.


9. No unplanned vacant land around

He also warned that buyers should be wary of all vacant land in the vicinity of the property, and find out if future construction will affect either road access or the view from your property. If there are no plans for the vacant land yet, he said it is best to stay away.

“Investigate, don’t be caught by surprise after you have moved in,” he said.

8. Gated or guarded community

Both Teo and Tan said gated communities are in demand. Very.

“It ties back to the fact that people have a fortress mentality. These days, people want to keep the riff raff out… Desa Park City is a good example,” Teo said, referring to the much sought-after enclave in Kepong.

According to Iproperty.com, some of its units (Safa) which were previously priced at RM450,000 are now going for RM1.2 million.

He said previous generations used to aspire to owning bungalows, a house in the middle of a big piece of land.

Today though, he said, those properties are much lesser in demand while he sees a rise in either condominiums or gated communities, which mostly have smaller plots of land, but with bigger build-ups.

7. Near international or high-performing Chinese schools

Teo said having a Chinese school in the neighbourhood adds “huge value” to properties nearby. For example, he said a Chinese school that has relocated to a new development that his company has recently launched in Cyberjaya has been its “biggest selling point.”

He said more non-Chinese families are also looking to move closer to these vernacular schools.

Tan, meanwhile, said that people want to be nearer to schools not only because they want to send their children there, but also to have a good support system among parents.

“If you want to do home schooling, you are better off in a neighbourhood where there are people with the same interest, for example.

“Another example, a popular Chinese school — Lai Meng — recently moved to Bukit Jalil from KL. If you want your kid to go to Lai Meng for example, you would move closer because you stand a better chance of getting a place in the school,” he said.

6. Who are your neighbours?

Tan, who is a regular speaker at property forums, said the neighbouring township is an important consideration when buying a home.

“Why Cyberjaya can work, it’s because it is next to Putrajaya. Why PJ can work because the neighbour is KL and why Iskandar Malaysia can work because the neighbour is Singapore.

“In that sense, the neighbour does play a part because you want to have the best of both worlds. Perhaps lower expenses on one side and high income on the other side,” he said.

Just as important, find out the racial composition as well as the job backgrounds of your neighbours, he added.

Whether you prefer a culturally mixed neighbourhood, or one that speaks only a particular language, or what kind of jobs your neighbours do, and if they are mostly tenants or owners… you need to do your homework.

5. Population growth

Tan also said it is important to observe if the population trend in the area is on an upward trend.

“At the end of the day, real estate is meant for human consumption. So the bigger the population, the higher chance of you getting a better return from your property investment,” he said.

He pointed out that with a bigger population, there will also be better supply services such as hypermarkets, clinics, laundry services and restaurants.

4. Central location or conveniently located

You don’t need to be a rocket scientist to figure out that the more centrally located a piece of property is, the higher in demand it is.

Teo also noticed that the trend has shifted and condominium units attached to malls are back in demand again because people want that sort of convenience.

“When you have strata properties on top of shops, those used to be cheap properties, you can see some in Chow Kit, Bukit Bintang... people didn’t want to stay in that kind of environment,” he noted.

He said the trend is back and is especially popular among the younger crowd who are looking for smaller units, about 1,000 square feet or studio sizes.

3. Infrastructure/connectivity

The real estate negotiator said connectivity is extremely important as more people move further away from central locations. People are moving to townships like Cyberjaya and Setia Alam because of the highways that now connect to the city.

Tan noted that most people do not want their homes to be too close to business activities but they do not want it to be too far away either, because they need the supply and services to be close.

People are willing to accept if their workplaces are slightly further away, as long as they are well connected by highways or LRT, MRT stops.

2. Reputable developer

Sarkunan said it is extremely important to buy from developers with a good track record and a practice of delivering on time with quality.

“It also must have a good following and someone who does not price their products to the maximum and allow for reasonable returns,” he said.

1. Location branding

Tan said branding of location can change, driven by “visionary developers” or plans.

“For example Sentul, many years ago, when we talk about Sentul, we have a certain perception about it. YTL changed the perception of that area and for all intents and purposes, Sentul is very arty farty now because of KLPAC, and it’s actually a very nice location because it is very close to the centre of action,” he said, referring to the KL Performing Arts Centre that is along Jalan Ipoh.

The property lawyer said that now would be the best time to buy with the launch of a slew of affordable housing schemes and the fact that home prices will not fall, especially when the country is only five years away from its ambition of becoming a developed nation.

- See more at: http://www.themalaymailonline.com/m...ing-property-in-malaysia#sthash.k66qTOIm.dpuf

 

[tonychat]

once again i wish to remind sinkies to get yourself into a position of having a residence status in Malaysia or Thailand ( or in any other countries) when PAP and its cronies go crazy and create citizen-unfriendly policies, you can have your way out immediately..and when you are on your way out, don't forget to flash your middle finger at the sinkie national flag too.

Selecting a property is a fairly important thing for people to move aboard.

 

[tonychat]

9 Top Mistakes

When Buying Thai Property

There are certain pitfalls when buying property in Thailand. Buying Real Estate is an experience that should be taken with some advanced planning and forethought. Many foreigners come to Thailand to purchase property for various reasons : for their retirement, as a second home or for investment purposes. Purchasing a second home is gaining popularity in many places in the world. For example, in 2004 just over a third of all homes owned by UK citizens abroad were located outside Europe. Thailand is fast becoming a destination of choice as a location for a second home. In this article, we will look at ten pitfalls which are most common in purchasing property in Thailand.

No Title Search

A comprehensive examination of title deed recorded at the Land Department should be done prior to placing on a deposit or signing of a reservation agreement. You need to verify that the Seller has clear and legal title of the land before you enter into any contractual agreement. The title search will trace the land to its first possession, as well as checking for any encumbrances such as liens, leases or mortgages on the title.

This investigation will also verify zoning, environmental and planning codes in the area. Moreover, any mortgage, liens or encumbrances will be discovered during this process. There have been a number of cases where foreign buyers have purchased property only to discover later that they are restricted in terms of structural height on the land and therefore rendering the land virtually worthless. This is especially true for beach resort communities where there are height limitations closer to the beach. This is the number one pitfall since a title search can be completed within a few days. Failure to conduct this step is a grave error and could be fatal to your plans to build your dream house on that wonderful piece of property.

Failure To Conduct Due Diligence

Every financial transaction requires some sort of due diligence on behalf of the purchaser to verify that it is a sound investment. When you purchase shares of a listed company in the stock market or a mutual fund you will generally research the profile and performance of the company or fund. The same is true when you purchase a property from a developer. You should check with the previous buyers to see if they are satisfied with the quality and time frame of the construction. If you don't have time to spend on checking the history of the developer, a local lawyer near the development will know or can check the project, who their directors are and their performance history. This Due Diligence report will also outline all the information consisted in a title search mentioned above.

Buying Without A Lawyer

It is often possible for individuals to purchase a property in Thailand without the services of a local law firm. This may be risky unless you are familiar with the country, the language and its legal system. Contracts in Thailand do not always adhere to the international standards that we are used to back home and may seem quite unfamiliar to us hence why prior to purchase you should take the time to sit down and discuss the purchase process with a lawyer or a solicitor. That is why before you sign any deposit agreement or contract, you should take some time and sit down with a lawyer or solicitor to discuss the process. You need to know the correct legal process in Thailand for a foreigner to acquire property. Remember that you are spending part of your life savings to acquire this property and you must carefully plan your steps in the process. Your lawyer back home can give you general advice about the contracts and agreements; however they will not be familiar with the country's laws as they may not have the experience in dealing with matters here.

Buying Without An Estate Agent

Back home, We are always told that when we invest in property, we should always invest in an area that we are familiar with. This is because property markets are affected by so many variables. It is important to know the market and manage the potential risk which may be involved in any transactions.

Investing in Thailand is no different. You will need a local expert who is experienced in real estate transactions in the local area that you intend to make your purchase. The agent knows how to communicate in Thai and they're familiar with the location and the general geographical area. They can show you many quality properties in their inventory based on your needs and desires. Typically, a good agent will weed out the poor quality units. They want satisfied clients and they will avoid problematic developments. Think about it: you may not really know the community and it would be wise to find someone who has in-depth knowledge and experience with the property market. The most telling benefit of a using an estate agent is that they will act as a conduit between you and the seller. They will obtain a fair price for you and act on your behalf to respect your best interest throughout the entire process. Several international estate agent firms have recently established themselves in Thailand. This provides you access to the same international standard of business practice as in your home country.

Putting The Deposit Down Too Early

Sellers and agents obviously want to sell properties. When you have found the ideal property and you are satisfied that it will meet your expectations, the usual process in a transaction is to put down a reservation fee or an earnest deposit. In return, the seller or agent will reserve the property for you and begin the process of drafting the contracts for the acquisition. This is normally a nominal amount of 10-15% of the purchase price. This will in most cases be deducted from the original purchase price, if the contract is fully performed by both parties. However, in the event that you are not going to go through with the purchase, it is the Seller's right to retain the initial reservation deposit. If in case, it is through Sellers default, this amount is usually refundable. Be sure to retain a receipt and terms of agreement in respect of the reservation deposit.

This is not always the case as sellers and agents sometimes keep this fee for the opportunity cost involved while the property was reserved. Unless you specifically draft an "exit" clause in the deposit agreement, for example "subject to a clear title" or "subject to agreement on contract terms," the money deposited is non-refundable. Exit clauses can be items of fundamental importance such as 'subject to clear title' or 'subject to a new title deed being issued' and so on.

Buying In A Mismanaged Project

Several areas in Thailand have recently seen a surge in new property developers arriving on the scene to build homes. These developers do vary in size and experience. There are many new developers who see the potential in property development as a lucrative business in Hua Hin and decided to venture in this industry. They may not have the necessary experience to manage the project so you would often see delays and other fundamental problems. However, these developers do tend to offer much better prices and are more flexible in their approach to cater to your needs.

The larger developers, on the other hand, are more established and many of them are publicly listed companies. They have the resources, experience and expertise in completing construction projects on time. They generally will not negotiate on the price of the property and some do not offer any advice on variations that you would like to make to the designed plan. They are, therefore, less flexible but the commercial risks are much less. The key factor is to find a developer in which you feel comfortable with. It is recommended to check their previous projects for the quality of their work and ask questions from people who have purchased from them before. You will know them by the fruits of their labour.

Consider The Surrounding Area

If you purchase in a popular development, most likely the developer will be eager to repeat their success and start a Phase II right next door. You should plan for this accordingly in your plot selection. It would be most unfortunate after having waited for one year while your new home to be build is being built, and then to move in to endure another one or two years of construction noise next door. You must also be aware of the surrounding areas in general so as to avoid blockage of views from other buildings if you are going to purchase on a high floor.

Choosing On The Basis Of Price

There are many variables involved when evaluating the price. In general, you may wish to check the prices of adjoining projects in the surrounding area and that would give you a fairly good idea whether you are paying too much for your property. Back home, Usually in foreign countries, it is possible for us to check the value of various properties through a regulated body and also by looking at tax receipts of a particular area. Thailand is advancing in this area In Thailand, you are able to check these, However, you will still see large discrepancies between the government's assessed value and the actual price paid for a property.

Forgetting Your Heirs

It is strongly recommended that you have a Last Will & Testament prepared in both your home country and in Thailand to include your newly purchased property. It is not a pleasant thought to think of your demise; however you should plan in advance regarding your estate so the affairs are in order in the unfortunate event of your passing. The last thing you want to do is cause additional stress to your family during this period. Your property in Thailand becomes of value once you sign the contract and make an initial payment. Hence even before the handover of the property you, will have an asset to consider for your estate planning.

The document will detail your assets in Thailand, such as property, bank accounts, vehicle, and personal items. Typically upon the death of a foreigner in Thailand, the government officer will ask the family for a copy of a Will or they will seek the deceased person's lawyer or executor for this document. Having a Will drafted in your home country to cover assets in Thailand may be problematic and burdensome to your family as documentations will need to be translated, notarized and approved by a government body. We It is highly recommended that you have a separate Will for your assets in Thailand. It may be interesting Please also note that Thailand does not have any inheritance tax in general; however, the beneficiary will have to pay certain fees payable to the Land department upon transferring of title, to effect their name in the title deed.

 

[tonychat]

How to buy Malaysia real estate as a foreigner

This post has been updated to reflect Q3 2014 data
Dateline: Kuala Lumpur, Malaysia

It’s no secret that I’m a fan of Kuala Lumpur, Malaysia.

So much so that I dubbed it the third most livable city in booming Southeast Asia, and the most livable when you exclude the highly pricey Hong Kong and Singapore.

While many think the “Nomad” in Nomad Capitalist means non-stop perpetual travel, I’m really a fan of the “home bases” method, wherein one maintains one or two main residences (such as a main base coupled with a summer base) and travels as they wish from those bases. It’s a lot easier and less stressful than non-stop travel.

For me, Kuala Lumpur ticks many of the boxes as a great potential home base in Asia.

But what about buying real estate in Malaysia? Is it worth it, or should you just live in Malaysia and rent?

What are Malaysia real estate prices, and how can you buy real estate here?

Malaysia real estate prices were on the rise for some time. As with many other places in Asia, people here say things such as “why would you rent? real estate prices always go up.”

Gee, where have I heard that before?
(Cue some mortgage guy who bought infomercial time from me in 2006 saying “real estate prices here in San Diego always go up!”)

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However, the Malaysian government is taking a variety of measures to cool the property market and foreign investment.

I’m no fan of government intervention into the market, whether it’s into Malaysia real estate or anything else.

But perhaps the cooling measures have worked, because as of 2014, Malaysia real estate prices have slowed to break even growth. I suspect that prices in Kuala Lumpur could dip as much as 10%, even though prices aren’t too far off from their levels after the late 1990s Asian financial crisis.

What are the local real estate cooling measures?

To start, the Malaysian government rolled out its second increase in what is essentially a foreign ownership restriction on Malaysian property.

Starting in 2014, foreigners are required to buy property valued at 1 million Malaysian ringgit and up (roughly US$317,000). That means no cheap real estate purchases if you want to live in Kuala Lumpur or anywhere else in Malaysia.

That limit applies to each property you buy. In the same way you can’t use your one-liter customs allowance to bring twenty 50mL bottles of alcohol into The Land of the Free (at least not without paying tribute), you won’t be able to purchase multiple Malaysian properties adding up to exceed the 1 million ringgit minimum.

That will make real estate investing in Malaysia a bit trickier considering property prices here, while having undergone some large gains, still somewhat quasi-reasonable in some cases.
Keyword: some. While the spacious expat-friendly apartment I rent as a home base might have sold at a pre-construction price of one million ringgit, the wealthy Malaysian-Chinese landlord wants twice that now, in line with prices in the prestigious KLCC area.

Yet I can rent the place for less than $2,000 a month. A mediocre yield for her, and a terrible yield now.

You could easily hit the 1 million ringgit mark by buying in the more tony locations, although the suburbs – which feature many “landed” houses with yards, a feature somewhat unique to Malaysia’s close-in suburbs – aren’t nearly that expensive.

All of the wealthy Malaysians live in places like Petaling Jaya where things aren’t quite so pricey.

I personally don’t want to be in the luxury rental market. Meanwhile, larger units in similar parts of town would likely decrease yield in the case of rentals, and tie up more capital in the case of a flip.

That means my ability to own rental property in Malaysia is effectively knocked out… at least in Kuala Lumpur.

If you did decide to fix and flip a large unit, or even to have a short hold time on a rental property, you’d be subject to a new capital gains tax on foreigners. Rates for the first five years are 30%, whereas rates thereafter will be 5%. Malaysian corporations will be taxed at the same rates. Deductions will be allowed, including agency fees, renovations, and stamp duties.

But only Malaysian citizens will get lower rates.

That means having a Malaysian spouse or business partner will come quite in handy if you want access to cheaper properties you want to sell in a short period of time.

These changes come as the government tries to respond to lower- and lower-middle class Malaysians who are complaining house prices are getting out of control. Sharp rises in Malaysia property prices have caused them to strike back politically. And after their first tight election in years earlier this year, the ruling political party can’t afford to let those people down.

As Singapore imposes measures to cool its own maddening property bubble, part of the bubble is beginning to spill over into Malaysia. However, I believe more of that is occurring in Johor Bahru – increasingly New Jersey to Singapore’s New York – than further north.

Meanwhile, the region of Penang is floating the idea of a three percent tax, apparently on the sales price of any property to foreigners. Officials there are wanting to curb speculation from foreign investors, but experts claim that it’s essentially just a stamp tax, and that such a low number will have no such effect.

Remember when the United States had a luxury tax on cars over $36,000 or $40,000? Did it really stop anyone from buying a BMW?

That logic makes sense when you consider Singapore has imposed a whopping 15% stamp tax on foreign property investments. As much as I love Singapore for their economic freedom, they’ve gone crazy with the cooling measures.

All of this said, buying real estate in Malaysia is still rather cheap – especially for Asia. Round-trip transaction costs can be as low as 3.5%, and up to 7%, excluding taxes.

Malaysia also imposes fewer foreign ownership restrictions than many other countries such as the Philippines, Vietnam, and Cambodia. The types of property, including landed property, that foreigners can buy is relatively broad.

When buying Malaysia real estate, another important consideration is the type of title you will receive. Many westerners are used to owning property in perpetuity, but as with other parts of Asia, that may not be possible in a few parts of Malaysia.

You should always make sure the property you are buying is “freehold” property, rather than leasehold property for which you are simply buying a long-term lease.

The good news about real estate in Malaysia is that there are fewer other restrictions to property ownership. Foreigners can own multiple properties without restriction, other than the entry level restrictions.

Direct foreign ownership is allowed.

And financing is relatively straightforward and cheap for the region. Loans are available starting in the mid-5% range, and foreigners can usually qualify for a loan with a multinational bank with as little as 10-15% down on 15-35 year terms.

If you’re looking for a second residence in Malaysia, the Malaysia My Second Home Program offers a way to become a resident by showing offshore deposits and guaranteed monthly income, with easier terms for purchasers of valuable property.

If you’re looking for investment, I still believe real estate in the Philippines is a better overall value proposition, although it does come with foreign ownership restrictions such as only being allowed to purchase a condominium.

However, while I do think Malaysia real estate has risen too quickly for my tastes, there are some real fundamentals backing it up. There is still decent growth potential in Kuala Lumpur, and I think other more resort-like areas will see interest from groups like the Russians which could drive growth there, as well.

Condos right next to the luxury shopping areas are going for insane prices in Kuala Lumpur. But walk just a few minutes away and you can find some great buys – but it would be preferable to live there yourself, in my opinion. Kuala Lumpur is different from other places in southeast Asia in that condos aren’t the size of a shoebox.

For less than $200,000, you could buy an entry-level sized two-bedroom, 800-900 square foot condo in a relatively new building right in the middle of Raja Chulan, near a monorail stop.

Of course, there are a number of units in that building for rent from $800 to $1,200 a month, so it may make sense to dip your toe in first before you buy (as I’d always recommend).

My verdict: with a large population of real estate loving investors, including a large Chinese population, real estate in Malaysia isn’t a horrible investment. But it’s not great for yield, and appreciation potential is a bit tepid.

Malaysia is a great place to live in that it is rather developed and roomier than other Asian cities like Bangkok. If you are willing to bite the bullet and own your home here, then the fundamentals are less important to you.

 

[looneytan]

SG50 Contribution:

I would like to stress that it is very important to position yourself to be able to fucked off from sinkieland whenever you want.. The best timing is when Sinkies in your land go crazy and PAP start chruning out ass screwing policies, you will still feel that you have a life ahead by getting out.

Cheers SG50

Even till now, i am still trying to understand why the hell are you trying to tell others where to fuck off from.. What makes you think i give a shit what you wanna discuss too.

 

[vomitblood]

As compared with these 2 countries, at least SG security is not compromised. C msia and thailand looks so unsafe, even if u r rich at there still have to scare on being robbed, kidnapped etc.......

 

[looneytan]

once again i wish to remind sinkies to get yourself into a position of having a residence status in Malaysia or Thailand

who the fuck do you think you are:oIo: to come and remind us to do this do that :oIo::oIo:... worse than PAP

 

[tonychat]

Even till now, i am still trying to understand why the hell are you trying to tell others where to fuck off from.. What makes you think i give a shit what you wanna discuss too.

this thread isn't dedicated to you.. why the fuck are you posting in my thread?