Who Has Bought or Sold Their Own Property In The Last Few Months?

[Tornado]

There is so much talk about the down turn in the market and I have seen it first hand myself.

I am interested to know who has actually sold a property in the last few months. I dont want to hear from the agents as that is not the point of the thread. Ive been in real estate here for a long time and I KNOW, things are more than slow in Phuket.

Interested to hear from the sellers please. Property type, location and price.

Edited April 22, 2007 by Tornado

[solo siam]

I've bought one, does that count? - Permsap Villa near the heroines monument - 4.3 million baht, new, 200sqm on 460sqm of land, quite good quality but they aren't selling a lot to be honest, If I had the money, I'd probably buy another one next door to me.

[Tornado]

I've bought one, does that count? - Permsap Villa near the heroines monument - 4.3 million baht, new, 200sqm on 460sqm of land, quite good quality but they aren't selling a lot to be honest, If I had the money, I'd probably buy another one next door to me.

good point Ben, I should of said bought or sold, Maybe a Mod, could change the heading?

How did you buy Ben, via company, wife or lease?

Edited April 22, 2007 by Maestro
Topic title changed as suggested by OP.

[solo siam]

Wife, but someone close also sold some land last month in NE Phuket, the buyer had just sold his villa in Surin (which was company owned I believe).

Personally if I didn't have a Thai wife I wouldn't buy here, I'm 31 years old so a 30 year lease wouldn't be appropriate.

[eljeque]

Great Title

IN Pattaya

I was getting a lot of lookers for a few of my friend's houses which were all identical, but some were not finnihsed yet--they are all about 3.0M baht up, until a few months ago and then it really cooled down.

[jumnien]

Bought 176 sq. wah beachfront land last week in Prachuabkhirikhan city in wife's name. I think your right, it's a buyer's market now. Great opportunities abound.

[geoffphuket]

I've bought one, does that count? - Permsap Villa near the heroines monument - 4.3 million baht, new, 200sqm on 460sqm of land, quite good quality but they aren't selling a lot to be honest, If I had the money, I'd probably buy another one next door to me.

Hi Ben, I'm just down the road from you at Neramit 3!

There certainly doesn't seem to be any slowdown in the number of projects around Thalang (Phuket) that are just about to start or are already under construction, most being in the 2.5-5M baht bracket and mainly sold to middle class/working Thai's. I guess the bubble will burst one day, but in this price range the market place seems strong..... for now.

Geoffphuket

[Khun ?]

I sold a couple years ago on longer term payments to a friend. I gave him a choice of paying in

$ or Baht at the price of 41 to the dollar at the time. He chose to pay baht amount in dollars each month at monthly exchange rate.

What I lost in the sale just to get rid of the worry and change of retirement plans I am making

up quite well now.

You may try the old scheme of listing in foreign currency prices.

Hotels do it alot flipping between local or foreign amount which ever way they need to get people

in the door.

[chownah]

This is an interesting thread but I'm worrying that its going off topic. The lastttwo posts don't really deal with buying or selling property for personal use (not agents please) in the last few months and I'm hoping that this topic can stay focused since at least for me it is one of the best guages of what's really happening.

Chownah

[popshirt]

This is an interesting thread but I'm worrying that its going off topic. The lastttwo posts don't really deal with buying or selling property for personal use (not agents please) in the last few months and I'm hoping that this topic can stay focused since at least for me it is one of the best guages of what's really happening.

Chownah

Yes I agree. I have been waiting for a thread like this and hopefully the real estate "industry" people will stay out of it.

I have listed a foreign ownership condo in Jomtien for sale at a price lower than the going rate (by quite a bit) with 5 different estate agents.

That was in January of this year.

So far I have not received even ONE indication of interest in the property. It is on an upper floor of View Talay 5, corner, with ocean view.

I have talked to others who have property for sale and their experience is the same as mine. Zero. Zip.

Fortunately I am not desperate to sell and may end up finishing the interior and keeping it. But no buyers!

[Phil Conners]

Several properties in my village has been for sale for over a year; only one has been sold and it was someone moving from a smaller to a bigger house within the village. This is a fairly upscale village with houses from 4-15M baht. ca. 14 houses out of a total of 60 are for sale, most were bought by "smart guys" who though they were going to make a quick buck.

[MTW]

I bought a house about 6 weeks ago in Chiang Mai. I am doing the lease deal. The reason I bought was because 1) I am sick of dealing with landlords here for so many, many reasons. 2) I always pay too much for rent because I have pretty definite requirements ... not difficult, but what I want/need is sometimes difficult here. (I need some land because I have dogs, and I need a bathtub ... this alone seems to make the rent double, and I need a maids room or something decent for her as I cannot live without a maid (mostly because of my pets when I travel).

I found a house for sale, that a year ago was for rent for 25,000 a month. It has 2 masterbedrooms with baths with bathtubs!!!, two other smaller bedrooms, and one guest bathroom. Not a great kitchen. A wonderful garden, good location with QUIET, the other thing I am missing here alot, lots of trees and nature around me (government land behind me that is empty, and a lot in front of me that is empty also), most of the houses are well taken care of, it is in an older moo baan, but not one that has pool or tennis or anything really, but they do take care of the empty lots and clean them. About a third of the houses in the moo baan are much nicer and bigger than mine (at least nicer according to what I can see on the outside ... if you have looked at many houses you know that the inside could look like a Cambodian village.

They were asking 2.85 million and without a broker I was able to get it for 2.4 with the owner and me splitting the taxes 50/50, and it includes some pretty good teak furniture that is not built in, and some older aircons, has nice new curtains and many decent furnishings because it was set up as a rental house for farangs. I bought it from a Thai man who lived in the US for some years and has an idea what we like.

[MTW]

Oh, I forgot to say the third reason why I bought now: because I live on USDs and have seen my money buying less and less with prices going up and up. I got nervous, just in case the dollar doesn't go up again for a long time, and/or continues to fall, that I would not be able to afford something I wanted, and I don't love the house I am in (my third rental house.)

However, I also followed the golden rule here, and did not spend more than I can afford to walk away from.

[lannarebirth]

I don't have any land for sale, but in the last 3 months I have had 3 offers on a piece of land I own which were forwarded too me through the puyai ban of my village. It's a piece I would sell if the price were right (6.25 rai, 1 mil/rai). The offers were 20%, 15% and 10% below that. One by a Thai/Chinese, another a Thai. one a farang.

[appleman_thai]

hope i am not stretching the topic off course but I bought a condo in bangkok about 1 year, 6 months ago.

But I am trying to rent it out now cause I am back in Ireland....

Only one person has come to see it in over 3 months.

Its 7 minutes walk to the subway!

[Meerkat]

The wife bought 18 rai of land in Khao Yai last month for 200k/rai. We've been looking for well over a year for land up there and prices seemed to be spiralling upwards. There seem to be a chunk of developments under construction up there now.

[jumnien]

I was in Khao Yai last month and it looks like a fantastic area to have some property. Lots of quality development; I'm sure your investment will bring much pleasure and profit in the years ahead.

[quiksilva]

Well I am a real estate person but I think I qualify to comment because I brought a 8M house (for myself) in Nonthaburi in February.

The bank's mortgage valuation on the date of transfer was 500K more than I paid. Another encouraging thing for me is when we paid our deposit the houses in the estate started at 6.5M and now the same styles start at 8.5M. The first three phases are sold out, and they are still receiving orders for the final phases.

Edited April 23, 2007 by quiksilva

[womble]

I sold a 1.5 rai plot in Samui last month for 8.5m. It was bought by a farang.

Thats the last thing I own here freehold, everything else I have is leasehold, 6-30 years commercial stuff.

[DDay]

Purchased 2 rai for 270k outside of Khon Kaen with utilities available and commercial frontage on the main highway. Connected with the eager-to-sell owner via my wifes brother. Land is currently in wifes name with the golden rule applied.

[pkrv]

Every single contribution to this thread is about owning land and houses, which is of course illegal. The title of this thread, is I am afraid, contrary to the other issues of property ownership in Thailand i.e. apartments, which are legal and are doing fine thank you.

Please cease confusing the two! Confusing illegal and legal activity serves only one purpose.

[Maigo6]

I paid for 7 Rai of Farmland at 120,000 Baht in Loei.

About 18,000 Baht per rai.

[torrenova]

hope i am not stretching the topic off course but I bought a condo in bangkok about 1 year, 6 months ago.

But I am trying to rent it out now cause I am back in Ireland....

Only one person has come to see it in over 3 months.

Its 7 minutes walk to the subway!

Sorry to say but perhaps it is overpriced. Property at the right price should always move.

[old wanderer]

My wife and I found 38.6 rai next to a resort. The lady that owned it was "dificult" to deal with as she had been bothered for several years with people wanting pieces of the property.

We convinced her to sell the whole thing, no hagling, and she would pay 100% of all fees.

Went down to the land office on Kong Kean Friday, with a cahsiers check and 1 million baht in cash, and we now have a Chanote.

Already had 4 offers that would double our money on 5 rai sections, but we started to plant crops for this year and let it simmer for a while. the value will only increase. The resort gets about 1.6 million per rai.

Deals are available, and I will say I did retain Sunbelt to watch over the process and they did a great job for a very minor cost considering the amount of the investment.

We will file a usefret to protect my intrest.

[popshirt]

Every single contribution to this thread is about owning land and houses, which is of course illegal. The title of this thread, is I am afraid, contrary to the other issues of property ownership in Thailand i.e. apartments, which are legal and are doing fine thank you.

Please cease confusing the two! Confusing illegal and legal activity serves only one purpose.

Simply not true. My post was about a property that is registered in the 49% foreign ownership portion and is completely legal for a foreigner to own.

[pkrv]

Every single contribution to this thread is about owning land and houses, which is of course illegal. The title of this thread, is I am afraid, contrary to the other issues of property ownership in Thailand i.e. apartments, which are legal and are doing fine thank you.

Please cease confusing the two! Confusing illegal and legal activity serves only one purpose.

Simply not true. My post was about a property that is registered in the 49% foreign ownership portion and is completely legal for a foreigner to own.

Excellent we have come to an agreement! We have dispensed with home, land ownership issue (totally irrelevant, as it is illegal). OK I fully understand the 49 % issue - where are you buying/located?

[Maigo6]

Excellent we have come to an agreement! We have dispensed with home, land ownership issue (totally irrelevant, as it is illegal). OK I fully understand the 49 % issue - where are you buying/located?

Trying to sell a few condos by any chance ?

[dsfbrit]

Well I am a real estate person but I think I qualify to comment because I brought a 8M house (for myself) in Nonthaburi in February.

The bank's mortgage valuation on the date of transfer was 500K more than I paid. Another encouraging thing for me is when we paid our deposit the houses in the estate started at 6.5M and now the same styles start at 8.5M. The first three phases are sold out, and they are still receiving orders for the final phases.

What method are you using to 'own' the land?

[dsfbrit]

Every single contribution to this thread is about owning land and houses, which is of course illegal. The title of this thread, is I am afraid, contrary to the other issues of property ownership in Thailand i.e. apartments, which are legal and are doing fine thank you.

Please cease confusing the two! Confusing illegal and legal activity serves only one purpose.

You can own a house - thats not illegal. Its the land ownership that is the problem.

Owning apartments is only legal if its in the 49 percent allocation.

I would be interested in what is happening in these areas as well as the legal areas it will show what the state of the market really is.

For example - has anybody actually recently sold an apartment that is held in the company name? and was it below market rate.

So for me I would encourage all sales to be posted.

In my area , Banglamung Pattaya, there have been several houses on sale for a year now and not sold. One started at an asking price of 7.6 MillBaht and then

reduced to 6.9 Mill Baht 6 months ago. Not sure of the price now as I am dont want to ask him.

He put the house on the market last year just before the land law enforcement reports and had several people interested - but since last May - no real interest at all I have been told.

[pkrv]

Excellent we have come to an agreement! We have dispensed with home, land ownership issue (totally irrelevant, as it is illegal). OK I fully understand the 49 % issue - where are you buying/located?

Trying to sell a few condos by any chance ?

No simply trying to point out illegal activity and legal activity in the property market (49% rules on apartment blocks are also legally true, the rest not). I have however posted over the last few years openly on my/our legal activity. I/we are buying an apartment in Bangkok (legal 49% share).

So the market is:

Illegal ownership of land

Dubious ownership of houses (built on land)

Dubious ownership of apartments (The 49% rule), which I think, has had its day but just an opinion

Legal ownership of an apartment - that’s us!

It is now important to completely segregate illegal/dubious and legal activity within the Thai property market and work out for our selves why we are in such confusion over market conditions.