News Forum - Reform urged for foreigners to invest or buy condos in Thailand

[Marc26]

3 minutes ago, HolyCowCm said:

I would only ever buy something in my kids or wife’s names. Other than that rent but until I am forced out by then under one thing or the other, I am just fine with the house and taking trips around. 

I agree 100%

After 18 years together, any property bought/built will be in my wife's name. Or a condo in my stepson's name.

If things suddenly went tits up after so many years, I consider it "time served" for her 555

[HolyCowCm]

3 minutes ago, Marc26 said:

I agree 100%

After 18 years together, any property bought/built will be in my wife's name. Or a condo in my stepson's name.

If things suddenly went tits up after so many years, I consider it "time served" for her 555

Yep. I am already past the point of a long haul and having the tits turn up. As long as everyone has their certain freedoms and not suffocated or restricted then Ok. Kids help the part of buying g and not caring much if they are good kids. 
Time served. Hahahahaha. It almost gets easier as time flies by over the years. 

[Cathat]

4 hours ago, Bob20 said:

And that's exactly why it's about condos as that is what you can own outright.

You can not own the freehold on the land or the building.

You are paying 99 years rent up front.If you are still alive at that time you then hand the keys back to the land and building freeholder,you effectively own nothing.

They are leasehold properties,it's a big difference.

[Benroon]

5 hours ago, Dr.Sivada said:

This is funny. I am not wealthy but I do have several million usd of relatively liquid assets for investment purposes. I traveled to Thailand frequently before covid, and was considering buying a condo. After all this covid snafu that exposes the corruptions of the Thai government, lord I realized how wrong I was: I will NEVER place any assets in Thailand. 

Some people don't consider their home 'an asset' - it's purely home.

[Marc26]

17 minutes ago, Benroon said:

Some people don't consider their home 'an asset' - it's purely home.

You've never been to Vancouver, that's all they consider it here 555

[Benroon]

2 hours ago, Marc26 said:

You've never been to Vancouver, that's all they consider it here 555

tbf they are obsessed with it in the UK too, it's all they talk about - but that's just a life of stress to me. To me it's always been a home first, anything else is a bonus.

[miblish51]

It also makes it nearly impossible to buy property with cryptocurrency.

[miblish51]

6 hours ago, Cathat said:

You can not own the freehold on the land or the building.

You are paying 99 years rent up front.If you are still alive at that time you then hand the keys back to the land and building freeholder,you effectively own nothing.

They are leasehold properties,it's a big difference.

The building will collapse or be demolisged long before that. It's not an investment to pass down to your grandchildren. Live in it, or rent it and (hopefully) make a profit.

[HiuMak]

11 hours ago, gummy said:

I thought more of a lower floor with moorings and a boat

How about basement with a Submarine?

[gummy]

34 minutes ago, HiuMak said:

How about basement with a Submarine?

Apparently all been bought off-plan by the Thai navy already

[Jason]

Can't say I would ever buy a condo, particularly in a large metropolitan city. If there's one thingI have seen as a result of this pandemic, it's the move away from large cities to more regional places, where the likelihood of infections and lockdowns is less likely. There will be another pandemic, just like there will be another Tsunami...it's only a matter of time. 

[longwood50]

Can the government figure out if it wants or doesn't want foreigners to reside in Thailand. 

One minute they are talking about relaxing the rules for ownership of homes and condos here in Thailand.  The next minute they are requiring 3 million in medical insurance for those residing in Thailand. Which of course many over 70 will have difficulty obtaining particularly with any pre-existing condition. 

If unpaid medical bills were truly a problem I could understand but through September 2019 the government reported that unpaid medical bills from "foreigners" this would include tourists and those residing in Thailand amounted to 448 million baht. 

There were 38 million visitors and and estimated 70,000 expatriates.  Double that number to 1 billion baht and that is 26 baht per visitor.   Instead the government wants each visitor so secure a $50,000 USD medical insurance policy and each long term resident to have a 3 million baht medical policy. 

Consider if each country similarly adopted rules requiring differing medical insurance coverages in order to visit.  Tourism would halt.  

Edited October 29, 2021 by longwood50