Thailand Property Report/News
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THAILAND CONDO SITUATION 2008
PROPERTY REPORT: Property firms prepare for year of hot competition in 2008
It is a good time to buy property in Thailand. Banks are lending to Thais & property prices are GOOD. Thailand SET index has also been dropping as foreign investment is tending to shift to other countries. The situation with The Baht, is better than in the West due to Thailand keeping foreigners out from speculating. This means foreigners cannot buy land and escalate the prices like in the West where properties have gone well out of proportion on the 3:1 ration of payments to salaries. This has in fact kept properties in Thailand to a subsistence level and allows people to buy at reasonable prices apart from overseas companies speculating on land developments for condos with thai partners. Condos are the same and we will soon have reports on Pattaya, Phuket and Bangkok, Chiangmai for you..
.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
- a company can purchase land and buildings only.
- more than 49% of a condominium unless in Company form.If BOI status different
- foreigners can own land being not over 49% in a proper Business orientated company but cannot secure a mortgage. Under BOI can buy.
- if you invest 40m baht you can buy 1 Rai of land in Thailand outright
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 only own 49% shares in a company but there are restrictions and rules to this as you must have a business running and audited. The other way is to lease for 30 years with R of R or to use an Usufract or superficies to assist you. We can assist you to make sure your company is safeguarded. Remember if you need advice ask us.
USING OUR SERVICES BUYING A PROPERTY ANYWHERE IN THAILAND:
We receive our commissions off the seller or landlord and no added charges are imposed on you the buyer or renter. What we make sure is you get a professional service with no hidden costs, plus we help you with your lease agreements and oversee everything you need. You may have a Thai friend who says they can get you a better deal. Unbeknown to you they may be getting a commission or scheme --can you read Thai??. Using our services we guarantee that the lease and selling documents are in order as we have our own Barrister at Law. Please do not ask us for mortgages as we cannot help.WE ARE BOTH FOREIGN AND THAI OWNERSHIP
FOR ALL FOREIGNERS BUYING HOUSES IN THAILAND AND PROPERTY. ASK US FOR FREE THE BEST WAY TO BUY FOR YOUR CIRCUMSTANCES. YOU WILL NOT BE DISAPPOINTED.
Bangkok Bank lends money to foreigners for mortgages on Property in Thailand
Top News: PP party may cull the Business Act changes to allow foreigners to buy in Thailand 2008
Bangkok Bank is the first bank in Thailand to provide home loans to non-residents. We understand the regulatory requirements and can help you finance your property purchase. Talk to one of our staff about your dream home! Bangkok Bank offers a range of loan options tailored to meet your needs. We offer flexible lending and attractively low interest ratesorrow up to 70% of the condominium’s appraised value or up to US$800,000
BANGKOK BANK LOAN FEES:
The processing fee for this loan is USD 1,750 or equivalent. USD 150 or equivalent of this fee is payable upon submitting the loan request, and the final portion of the fee USD 1,600 or equivalent is payable upon signing contract.All other expenses such as legal, mortgage costs, valuation fee and fire insurance premium shall be borne by the borrower.
Applying for a Home Loan:
E-mail Address: email@example.com
FOREIGNERS NEED THE FOLLOWING DOCUMENTS WHEN APPLYING FOR A LOAN TO BUY PROPERTY IN THAILAND WITH THE BANGKOK BANK:
Take the following documents with you when you apply for a loan at the branch.
DOWNLOAD THE BANGKOK BANK LOAN APPLICATION FORM
[ DOWNLOAD ]
WHY USE OUR SERVICES:
[ 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
HOUSES FOR SALE: click on & view
NB: The Thailand Real Estate Industry is unregulated & you should only use Realty Companies who are members of the Thailand Real Estate Broker Association. If you are not sure please ask the Realty Company you are dealing with what their REBA number is & if a foreigner, does he she possess a work permit ( blue book to view ). The Realty ID card should be a number like ours: 4601-175-001. On this card yellow baked green typed card will be a start date and expiry date with photo of the Realty person. You are warned that using unregistered Realty Companies you may have little or no comeback. Companies registered with the Broker Association must uphold & maintain certain standards & etiquite. Play it safe and you will not lose.
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