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Somnambulist

Investing 5 million baht in CM

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Owning a single condo can be great, but expecting to make money is not.

If you do not speak fluent Thai and you have a wife involved in a big investment things more than not do not turn out Roses...

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1. Actually Government is trying to make Thailand MORE attractive for tourists. They just making it worse for those living here for 10-15k per month not contributing to economy at all.

2. Yes Chinese tourists do not rent condos. They buy them.

3. What you mean by filthy ? For me Pattaya is filthy, CM is getting less and less filthy.

Chinese tourists aren't buying condominiums....

You wanna bet!

tourists???

Yup! Mrs CM used to work for Chedi/Antanara Hotel where there's a high guest count of Chinese visitors. She reports that wealthier Chinese come and stay for seven/ten days, specifically to buy property and that some of the agents are a familiar sight in the hotel - plenty of blue plates to be seen in the garage below. Another report mentions a wealthy Chinese guest who walked into the boutique shop at the hotel and blew 200k Baht in minutes and had it all shipped back home!

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This would be the last avenue that you should seek advice from. If you need to go to a forum for financial advice then you shouldn't invest. But just in case I have this great investment plan that gives 15 percent return PA, payable monthly. coffee1.gif

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Tax on income etc????

See a good lawyer first .

Is there any such creature here?

I do realize this is a bit of a pedantic little pet-peeve of mine, but it's staggering the things that Farang believe requires 'a lawyer'.

Tax does not require a lawyer, it requires a chick with some experience in accounting and filling in forms. These creatures are everywhere. They make good wives too, actually.

BTW any expenses related to making that income such as those for maintenance, renovations, electricity and what not can be deducted of course, so it helps to keep track of that.

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OK, then let's say a guy has a Thai wife he trusts, so he intends to put the condos in her name and rent them out.

Why would ya?

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Thailand's economy expected to be in very bad shape in the coming year. not a good time? What are your sources?

IMF has stated Thailand's GDP will rise in the coming year.

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

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1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

well... I partly agree with Oscar here

1. yes you are about 5 years too late - forget it

2. maybe BUT AirBnB is short term and you really need long term

3. well... it's true this is bad timing

4. no consider 'hunker down' and WAIT

I'm little lucky in that i bought condos 10 year ago but even i am selling most/ In about 5 years things will be better I hope but Thailand had changed under the Junta and we have to just tighten our belts. Good luck.

The Junta has just bought Thailand back to some form of reality,not the Disneyland of yesteryear.

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ive owed land and houses here in Thailand in company name never had a problem do your accounts every year

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I don't wanna be an armchair economist, so I make it simple.

I look at what 200,000 can buy me in Toronto (apparently one of the most expensive real estate markets in the world) and Bangkok.

In both cities, 200,000k won't get me much, but at least in Canada I am in my own territory and even though there is property tax and higher maintenance fees I have a piece of mind regarding better construction and condos that won't fall apart in 10 years. Another big advantage over Bangkok is an extremely liquid market which in Bangkok just doesn't exist.

Speaking of, I bought my shoebox Toronto condo in 2010 and thought I bought at the top (apparently I did not). When I decided to move to Thailand in 2013 I literally rented my condo in 2 days. I had 50 people lining up to see it. Now, someone is paying my mortgage.

Would this happen in Bangkok? Not a chance. There are units sitting empty for years.

I have a condo in bangkok and your right it's empty so when I go down to bkk it's free for me. duh

your logic and reasoning escape me

So there for your condo is making no money,poor investment.

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Chinese tourists aren't buying condominiums....

You wanna bet!

tourists???

Yup! Mrs CM used to work for Chedi/Antanara Hotel where there's a high guest count of Chinese visitors. She reports that wealthier Chinese come and stay for seven/ten days, specifically to buy property and that some of the agents are a familiar sight in the hotel - plenty of blue plates to be seen in the garage below. Another report mentions a wealthy Chinese guest who walked into the boutique shop at the hotel and blew 200k Baht in minutes and had it all shipped back home!

well the shopping spree does not surprise me one bit at all. in Bangkok, Chinese come for the weekend and are chauffeured to one Central mall in particular (i think the newest one) and they drop 500K in a single weekend often buying many gifts and they also take orders from friends back home. they seem to love the luxury and designer brands; men's shoes, ladies purses, wristwatches, perfumes, etc.

ever been to the bee products shop on Changmai Land? it is my guess that they are doing 60-80K in business per hour. it's quite a sight to see with all the Chinese, Koreans and Japanese queued up to hear the presentation, sampling of products, and then the shopping begins! it looks like each passenger on the bus drops 3-7K.

but the purchase of condominiums really surprises me.

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Thailand's economy expected to be in very bad shape in the coming year. not a good time? What are your sources?

IMF has stated Thailand's GDP will rise in the coming year.

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

uhhh.... renowned economists here and abroad. don't watch the news???

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Please share with us how we will all lose our condos " one way or another" in point form with explanations would be nice.

Civil war.

Happened in Lebanon, Yugoslavia, Vietnam, Cambodia. All in the recent past.

How many foreigners managed to retain their property after it was over? How many died of old age and never recovered anything?

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You wanna bet!

tourists???

Yup! Mrs CM used to work for Chedi/Antanara Hotel where there's a high guest count of Chinese visitors. She reports that wealthier Chinese come and stay for seven/ten days, specifically to buy property and that some of the agents are a familiar sight in the hotel - plenty of blue plates to be seen in the garage below. Another report mentions a wealthy Chinese guest who walked into the boutique shop at the hotel and blew 200k Baht in minutes and had it all shipped back home!

well the shopping spree does not surprise me one bit at all. in Bangkok, Chinese come for the weekend and are chauffeured to one Central mall in particular (i think the newest one) and they drop 500K in a single weekend often buying many gifts and they also take orders from friends back home. they seem to love the luxury and designer brands; men's shoes, ladies purses, wristwatches, perfumes, etc.

ever been to the bee products shop on Changmai Land? it is my guess that they are doing 60-80K in business per hour. it's quite a sight to see with all the Chinese, Koreans and Japanese queued up to hear the presentation, sampling of products, and then the shopping begins! it looks like each passenger on the bus drops 3-7K.

but the purchase of condominiums really surprises me.

No I haven't been there but it doesn't surprise me, watching the behavior of the tour groups at Airport Mall and Central Festival is enough for me.

But if you think about it it's only logical, there's a lot of hot black money in China that needs a home, preferably somewhere outside of the mainland. It used to be that the casino's of Macau provided some opportunities to disguise those funds but alas no longer. So buying real estate in Thailand is a sensible alternative for those who can't or don't want to bury their money further West.

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BANGKOK 21 July 2018 01:11
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