Real-estate in Bangkok and Phuket

[bandanna]

Hi,

I've been considering some investments in Thailand recently, but it's a market I'm still learning. There are some top notch condos in Bangkok and Phuket, being used for tourist short rentals. The ROI seem better than many countries in EMEA.

One of the concerns I heard from expats in Bangkok is whether the market is liquid enough when wanting to sell. One guy even mentioned it wasn't easy getting the money out of Thailand after selling.

Any thoughts in general on investments in Thailand?

Thanks!

 

[Marketint]

These days it is easier to get your money out of Thailand. Do keep the deposit slip of the money you bring to Thailand. You can book out this money after selling it with this. From the rest (profit), you can buy bitcoins, but most banks don't bother so much anymore.

Bangkok is a better market than tourist places. I don't know much about Phuket but most tourist spots are being built too much.

And short rentals less than 30 days are not allowed but some buildings you can do it without problems.

 

[wellington]

I've got 760 sqm of land set 500m from the beach, the beach is increasingly having multi-million $ homes and 4/5* hotels built.

It's 20 minutes from the International Airport (recently upgraded), 40 mins from a internationally known resort area (mass tourism) and close to multiple marinas, not Phuket but Krabi.

I'd let it go for 2.1m THB. + 50% of taxes (like 20,000 THB)

Payable on-shore / off-shore or swappable for real-estate in Italy or El Salvador or Dominica Republic or Jamaica, or similar (not fussed)- over the decade+ just forgotten about it.

Has full chanute title, with capability to build up to 4 floors.

Note 2nd and above should have some impressive views.

bandanna said:
Hi,

I've been considering some investments in Thailand recently, but it's a market I'm still learning. There are some top notch condos in Bangkok and Phuket, being used for tourist short rentals. The ROI seem better than many countries in EMEA.

One of the concerns I heard from expats in Bangkok is whether the market is liquid enough when wanting to sell. One guy even mentioned it wasn't easy getting the money out of Thailand after selling.

Any thoughts in general on investments in Thailand?

Thanks!
Click to expand...

Condos in Bangkok are a waste of time unless spending a sizable amount of money, because a new one will go up around you and you'd struggle to sell/rent out for the right price because the price of the new one will be the same.

In addition the views if any prior will be ruined.

In Phuket Condos (seaview) are better but like said new ones popup all the time, in addition the average cost of building a condo is around 500,000 THB per 25SQM... you'd be charged anywhere from 1.5-3.5m THB for that same space... as a finished property.

I've had toes/ears in the real-estate industry a long time (previously part of a 100m$ property development in Phuket a decade + ago).

Money is made in Land converted i.e 350SQM 30m THB villa cost 5/6m THB to construct before furnishing (4m THB) and 2m THB for the land = 12m THB

Or Flipped (older 10-15 yr properties) re-modelled and sold example, 5.9m THB purchases + 2m THB investment (remodelling) = 10m - 12m THB re-sale(s) to Russian's currently.

Land being able to be divided is where the real money is.

Nice plot (say 800sqm) divided by 3 then sold as two story properties 2.5m THB build, 500k furnishing, 500k - 2m THB land = 3.5m THB - 5.5m THB sold for 9-11m THB.

* This morning i had a bucket of concrete dropped on my head (minus the bucket) ~ more than just my ears and toes (nightmare washing that out of curly hair).

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Last edited: Dec 28, 2023

 

[Clank]

wellington said:
I've got 760 sqm of land set 500m from the beach, the beach is increasingly having multi-million $ homes and 4/5* hotels built.

It's 20 minutes from the International Airport (recently upgraded), 40 mins from a internationally known resort area (mass tourism) and close to multiple marinas, not Phuket but Krabi.

I'd let it go for 2.1m THB. + 50% of taxes (like 20,000 THB)

Payable on-shore / off-shore or swappable for real-estate in Italy or El Salvador or Dominica Republic or Jamaica, or similar (not fussed)- over the decade+ just forgotten about it.

Has full chanute title, with capability to build up to 4 floors.

Note 2nd and above should have some impressive views.


Condos in Bangkok are a waste of time unless spending a sizable amount of money, because a new one will go up around you and you'd struggle to sell/rent out for the right price because the price of the new one will be the same.

In addition the views if any prior will be ruined.

In Phuket Condos (seaview) are better but like said new ones popup all the time, in addition the average cost of building a condo is around 500,000 THB per 25SQM... you'd be charged anywhere from 1.5-3.5m THB for that same space... as a finished property.

I've had toes/ears in the real-estate industry a long time (previously part of a 100m$ property development in Phuket a decade + ago).

Money is made in Land converted i.e 350SQM 30m THB villa cost 5/6m THB to construct before furnishing (4m THB) and 2m THB for the land = 12m THB

Or Flipped (older 10-15 yr properties) re-modelled and sold example, 5.9m THB purchases + 2m THB investment (remodelling) = 10m - 12m THB re-sale(s) to Russian's currently.

Land being able to be divided is where the real money is.

Nice plot (say 800sqm) divided by 3 then sold as two story properties 2.5m THB build, 500k furnishing, 500k - 2m THB land = 3.5m THB - 5.5m THB sold for 9-11m THB.

* This morning i had a bucket of concrete dropped on my head (minus the bucket) ~ more than just my ears and toes (nightmare washing that out of curly hair).
Click to expand...

How do you hold the land under a company or you are a US citizen?

 

[Why]

wellington said:
I've got 760 sqm of land set 500m from the beach, the beach is increasingly having multi-million $ homes and 4/5* hotels built.

It's 20 minutes from the International Airport (recently upgraded), 40 mins from a internationally known resort area (mass tourism) and close to multiple marinas, not Phuket but Krabi.

I'd let it go for 2.1m THB. + 50% of taxes (like 20,000 THB)

Payable on-shore / off-shore or swappable for real-estate in Italy or El Salvador or Dominica Republic or Jamaica, or similar (not fussed)- over the decade+ just forgotten about it.

Has full chanute title, with capability to build up to 4 floors.

Note 2nd and above should have some impressive views.


Condos in Bangkok are a waste of time unless spending a sizable amount of money, because a new one will go up around you and you'd struggle to sell/rent out for the right price because the price of the new one will be the same.

In addition the views if any prior will be ruined.

In Phuket Condos (seaview) are better but like said new ones popup all the time, in addition the average cost of building a condo is around 500,000 THB per 25SQM... you'd be charged anywhere from 1.5-3.5m THB for that same space... as a finished property.

I've had toes/ears in the real-estate industry a long time (previously part of a 100m$ property development in Phuket a decade + ago).

Money is made in Land converted i.e 350SQM 30m THB villa cost 5/6m THB to construct before furnishing (4m THB) and 2m THB for the land = 12m THB

Or Flipped (older 10-15 yr properties) re-modelled and sold example, 5.9m THB purchases + 2m THB investment (remodelling) = 10m - 12m THB re-sale(s) to Russian's currently.

Land being able to be divided is where the real money is.

Nice plot (say 800sqm) divided by 3 then sold as two story properties 2.5m THB build, 500k furnishing, 500k - 2m THB land = 3.5m THB - 5.5m THB sold for 9-11m THB.

* This morning i had a bucket of concrete dropped on my head (minus the bucket) ~ more than just my ears and toes (nightmare washing that out of curly hair).
Click to expand...

Curious to learn how you can get paid offshore for property sale in Thailand. They do require the FET document (but probably not for land though as I guess it is owned by a local company setup?).

bandanna said:
Hi,

I've been considering some investments in Thailand recently, but it's a market I'm still learning. There are some top notch condos in Bangkok and Phuket, being used for tourist short rentals. The ROI seem better than many countries in EMEA.

One of the concerns I heard from expats in Bangkok is whether the market is liquid enough when wanting to sell. One guy even mentioned it wasn't easy getting the money out of Thailand after selling.

Any thoughts in general on investments in Thailand?

Thanks!
Click to expand...

If you do it well you can return around 10% a year with a condo in Bangkok (from experience). It is not easy, but it is doable. You must focus on service, be consistent, and not take your guests for granted.

I disagree with wellington's statement about condos in Bangkok, although I value his point of view. I'd focus on medium range condos which would offer higher returns. If you have a Thai partner or company, the cheap low end apartments are a fantastic investment. A friend of mine holds a dozen of them, rent is cheap (around THB 3K/month) BUT they yield a good 10%, extremely low maintenance, all charges paid by tenants, and in years he never had one that was not rented out.

Last edited: Jan 4, 2024

 

[Rome]

wellington said:
I've got 760 sqm of land set 500m from the beach, the beach is increasingly having multi-million $ homes and 4/5* hotels built.

It's 20 minutes from the International Airport (recently upgraded), 40 mins from a internationally known resort area (mass tourism) and close to multiple marinas, not Phuket but Krabi.

I'd let it go for 2.1m THB. + 50% of taxes (like 20,000 THB)

Payable on-shore / off-shore or swappable for real-estate in Italy or El Salvador or Dominica Republic or Jamaica, or similar (not fussed)- over the decade+ just forgotten about it.

Has full chanute title, with capability to build up to 4 floors.

Note 2nd and above should have some impressive views.


Condos in Bangkok are a waste of time unless spending a sizable amount of money, because a new one will go up around you and you'd struggle to sell/rent out for the right price because the price of the new one will be the same.

In addition the views if any prior will be ruined.

In Phuket Condos (seaview) are better but like said new ones popup all the time, in addition the average cost of building a condo is around 500,000 THB per 25SQM... you'd be charged anywhere from 1.5-3.5m THB for that same space... as a finished property.

I've had toes/ears in the real-estate industry a long time (previously part of a 100m$ property development in Phuket a decade + ago).

Money is made in Land converted i.e 350SQM 30m THB villa cost 5/6m THB to construct before furnishing (4m THB) and 2m THB for the land = 12m THB

Or Flipped (older 10-15 yr properties) re-modelled and sold example, 5.9m THB purchases + 2m THB investment (remodelling) = 10m - 12m THB re-sale(s) to Russian's currently.

Land being able to be divided is where the real money is.

Nice plot (say 800sqm) divided by 3 then sold as two story properties 2.5m THB build, 500k furnishing, 500k - 2m THB land = 3.5m THB - 5.5m THB sold for 9-11m THB.

* This morning i had a bucket of concrete dropped on my head (minus the bucket) ~ more than just my ears and toes (nightmare washing that out of curly hair).
Click to expand...

Are there still developers and buyers in Bangkok willing to accept cryptocurrency for real estate purchases?

 

[EliasIT]

You have indeed invested massively in properties in Thailand @wellington , I must say!

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[wellington]

Rome said:
Are there still developers and buyers in Bangkok willing to accept cryptocurrency for real estate purchases?
Click to expand...

There's a few online - yes (search location based crypto on FB).

But i am unsure how that works at the land office, as usually you show a cheque (bearer cheque) or count cash.

I wouldn't have issue with selling in crypto mind as I have a OTC account and they could liquidate it into cash in a instant- pre-authorised to 300m THB a day, but for most people I am unsure how they would do this as usually you'd use an exchange and that would likely generate all sorts of issues (volume on the account for example) - perhaps even freezes etc.

Jbb1 said:
How do you hold the land under a company or you are a US citizen?
Click to expand...

Few methods.

Method 1 ) Was a "Investor Visa" previously which entitled me to hold half a Rai in my own name.
Method 2) Married/Children.
Method 3) Bought Freehold that can be held by foreigner (land) -freehold Thaksin era incentive specific to one site/location (Phuket).

Normal Method for Non-Thai's and Non-Thai's that have trust issues with spouses (eyes were opened on this recently - so it's a fair position).

Method 1) Usfustruct
Method 2) Lease
Method 3) Freehold Corporate (neighbours have these).

Then there's a few others.

 

[Why]

Rome said:
Are there still developers and buyers in Bangkok willing to accept cryptocurrency for real estate purchases?
Click to expand...

I'd gladly accept crypto but you need an FET document to register the property transfer

 

[wellington]

Why said:
I'd gladly accept crypto but you need an FET document to register the property transfer
Click to expand...

That's where the lawyers charge for their services... As funds are 'paid to them from overseas' on paper (they have circulating currency transactions specifically for this) generally out of Dubai/HK/SGD.. and then they claim x is paid on behalf of y.