buying property

blobtec · Rookie Joined: 28 Oct 2005 Posts: 12 Location: UK

Hi, can anyone give me any advice. I am a UK national married to a thai here in the uk. We have bought property in Khao Takaib and are doing quite well with short term holiday lets, having her brother to take care of the houses. I have been to Thailand many times and have decided that i want to live in Hua Hin when i retire.
I want to buy property/land again so as to build up my bisness here but when i look on the internet the prices seem crazy. Where can i buy again at a reasonable price, it seems to me that property advertised with property agents are about 30/40% overpriced, and if i do buy privately what are the pitfalls.
I know prices are going up quickly all over Thailand but with my budget of 2 million bht can anyone give any advice
Thanks for reading
Bob bow

Norseman · Posted: Thu Jan 12, 2006 11:19 pm Post subject:

I think you are a bit late if you want property/house and only want to spend 2 mill., (in Hua Hin).
Prices are up by 5-10% now in January in comparison with the late 2005 prices. I guess you have to pay 2,5-3 mill for a house that cost 1,8 -2,5 mill last year and the inflation rate is appx 5-6% at the moment. In addition the baht is very strong right now. This morning's exchange rate of 39.45 baht to the US dollar is very bad news for all of you thinking of investments right now.
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johnnyk · Guru Joined: 02 Sep 2005 Posts: 906

I think you have to be in HH to see what's available.
IME, property on the net is always higher-priced and the selection is very limited, maybe 10% of what's out there.
I reserved property in October and will start building in the spring.
The new price for the land and house I reserved is 10% higher as of Jan. 1st.

JimmyGreaves · Guru Joined: 17 Oct 2005 Posts: 589

ricardo · Posted: Fri Jan 13, 2006 8:58 pm Post subject:

What sort of house are you looking for??

If you don't mind being out of town a bit on Soi 25 close to the new Index store there are 3 storey townhouses available within your budget.
Marble floors on 3 levels.

I bought a similar house privately on the same soi - the owner is a bank Manager and was very reasonable to deal with.
If you want more details PM, me.

blobtec · Rookie Joined: 28 Oct 2005 Posts: 12 Location: UK

Thanks for the input
Maybe im jumping the gun a little as im not comeing back out till April, and i agree that i will have to see for myself, but do the real estate add on money foe thier own profit.
If anyone knows of something within my budget please let me know
thanks again for your advice
Bob

buksida · Posted: Fri Jan 13, 2006 10:05 pm Post subject:

Tried this yet:

http://property.huahinafterdark.com/

Wink

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Norseman · Posted: Fri Jan 13, 2006 11:31 pm Post subject:

tuktukmike · Guru Joined: 18 Apr 2005 Posts: 525

I do agree that property agents have to make money.

However, in the uk you would normally pay the agents around 3% depending on whether sole agents or several.

There does seem to be a problem in this area in Thailand as regards to the commision levels that some agents are making.

The best thing to do as in the UK is buy private or just accept this is Thailand and anything goes.

Not sniping at the real estate companys but as always we all have a choice, deal with them or stick two fingers up at them.

As for paperwork, you will still need a Lawyer to register a company and the paperwork they do is minimal as your Lawyer must do most of it.

Mike.

Jim · Posted: Sat Jan 14, 2006 2:05 am Post subject:

Get your brother in law to send you a copy of The Observer. It's by far the best place to get a feel for everything that might be available.
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blobtec · Rookie Joined: 28 Oct 2005 Posts: 12 Location: UK

I can see the observer on line, and have done so, i suppose i will have to wait untill i go in April. Last time i tried to buy i made an offer but the seller looked quite annoyed, in the UK the seller will always drop in price ?.Is there property or land auctions local to Hua Hin
Thanks Bob Rolling Eyes

johnnyk · Guru Joined: 02 Sep 2005 Posts: 906

My 2 satang is that Thais usually do not negotiate, they set the price and that's it.
I know a few people in biz in Pattaya and their experience was that landlords have let properties lie empty rather than come down a bit in the asked-for rent.
Seller should be paying real estate commission AFAIK.

Jaime · Ace Joined: 14 Jan 2004 Posts: 1884 Location: Sh*t Creek

Mike picked up on the topic of Estate Agents. As an aside I went into an estate agency opposite the Hilton, next to the massage place, last time I was in Hua Hin. Out of interest I asked if they could let me know what the current going rate was for a property like the one we have, in its location. Amazingly enough the reply came: "Up to you!" I expect that sort of retort from my wife when she's in a mood but not from a supposed professional property advisor. How about coming out to look at the property and doing a valuation, I asked. "No, price is up to you. We just make the advert for you."

Shocked

'Nuff said. These people are cowboys.
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johnnyk · Guru Joined: 02 Sep 2005 Posts: 906

Well I wouldn't tar them all with the same brush. That one is a clown and not worth bothering with for sure but I'm sure there some others with a few clues about listing, buying and selling property.

caller · Ace Joined: 04 Jun 2005 Posts: 1724 Location: Londonistan