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 Hua Hin Map
A new website offering Google's map technology and accurately marked accommodation, shops, services, bars, restaurants, golf courses and property. Don't get lost and take a look at the Hua Hin Map |
Hua Hin Info
More information on the Hua Hin area can be found on these websites:
Tourism Hua Hin: tourist and travel info and guides
Hua Hin Expat: the town's first and original expat website.
Hua Hin Business Directory: free listings for Hua Hin companies.
Hua Hin Classifieds: free online classifieds for Hua Hin. |
 November 2008: Worried about break-ins? Then secure your property with an alarm system, more info at Hua Hin Alarms.
Play golf or looking to learn? Then get yourself upto Mongkol Driving Range, Hua Hin's swinging spot. Introductory and advanced level golf lessons and golf packages are available for beginners, handicap players, juniors and groups. Get along to one of their demo days to test out the latest clubs from the big names in golf including Callaway, Cobra, Titleist and MacGregor, the next one is Saturday November 22, more details here. |
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Burger
Ace
Joined: 19 Apr 2004
Posts: 1114
Location: Hua Hin
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 Posted: Sat Jun 03, 2006 1:54 pm Post subject: |
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| Quote: | | Suggestion to Mr. Burger: If you quote from other websites, could it not be ingenious to add the links |
I would of normally Hogus, but I don't think the website is flavour of the month with HHAD. And I can see why in general.
I only made a new thread as I did not think it could be taken serious enough to put on here, due to it being a Pattaya developer with a vested interest.
Cheers Hogybaby 
Burger |
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hogus
Professional
Joined: 18 Apr 2005
Posts: 476
Location: Hua Hin
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| Posted: Sat Jun 03, 2006 2:00 pm Post subject: |
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Ok, Lev...thanks for explanations.
It wasn't clear, that Burger's quote came from thaivisa...I thought he found an official statement from a lawyer's or real-estate-agent's website.
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hogus
Professional
Joined: 18 Apr 2005
Posts: 476
Location: Hua Hin
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| Posted: Sat Jun 03, 2006 2:06 pm Post subject: |
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| Burger wrote: |
Cheers Hogybaby
Burger |
hey, can be that I'm young and fresh...but not soooooooo young anymore
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malcolminthemiddle
Specialist
Joined: 05 Mar 2005
Posts: 214
Location: Here,there and everywhere
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| Posted: Sat Jun 03, 2006 3:43 pm Post subject: |
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Burger wrote
You wrote this yesterday:
| Quote: | The project land is never subdivided into individual house plots but remains whole whether that is made up of one or more Chanotes.
The Chanotes are in the name of the "Company" and remain an infinite asset of the company. At completion, a buyer, will be allocated the proportional number of shares within the company allocated to the house he is buying.
In short one project, one company, multiple share holders.
To sell your house, sell your shares. |
| Quote: | | So if you are saying no sub-dividing, therefore no seperate land papers (chanotes), then why are farangs going to land offices to transfer land papers into their wives/companies name ?? |
In the scenario I described they wouldn't.
Burger wrote
| Quote: | If you build an extension and a swimming pool and your house is now worth a million Baht more, do you get more shares ??
I don't understand. |
The answer is no, the number of shares reamin fixed but their value fluctuates.
The company Articles of Association disallows any external alterations to the property. Cosmetic improvements are allowed but these have to be approved by the "Juristic Committee". The addition of a swimming pool provided the pool was in line with the overall project concept would be allowed.
The share value is governed by market forces and is only realised at the time of sale. The allocation of shares is transparent and determined by the size of plot, location within the project and cost of build at inception in line with an agreed formula recorded within the Articles of Association. Regarding the sale of shares, existing share holders must be given first option, new share holders must be approved by the "Juristic Committee".
The value of shares between different properties can vary ie a seller is not bound to sell his shares at a fixed price, he has the freedom to negotiate the best price he can for his property subject to the controls defined within the AoA.
Cheers |
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Burger
Ace
Joined: 19 Apr 2004
Posts: 1114
Location: Hua Hin
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| Posted: Sat Jun 03, 2006 4:42 pm Post subject: |
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Malcolm,
Well to be fair I've never heard of that, buying land and house and you do not get a land title (chanote) paper in your name (loose term). Just shares, and you do not not have majority voting rights over the company!?
Do you know of a project in Hua Hin with this set-up ?
One limited company with 50+7 shareholders (if a 50 house project).
Who has the majority voting rights, the 'residents combined' or the developer/management company ? For sure the developer/management company will not allow majority voting to the residents, therefore surely the residents have no control over their futures.
What happens to the Thais that do not want to be under a company as they can purchase land on their own names, you talked about them yesterday ?
Are you sure mate ?
Burger |
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malcolminthemiddle
Specialist
Joined: 05 Mar 2005
Posts: 214
Location: Here,there and everywhere
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| Posted: Sat Jun 03, 2006 7:39 pm Post subject: |
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| Burger wrote: | Malcolm,
Well to be fair I've never heard of that, buying land and house and you do not get a land title (chanote) paper in your name (loose term). Just shares, and you do not not have majority voting rights over the company!?
Do you know of a project in Hua Hin with this set-up ?
One limited company with 50+7 shareholders (if a 50 house project).
Who has the majority voting rights, the 'residents combined' or the developer/management company ? For sure the developer/management company will not allow majority voting to the residents, therefore surely the residents have no control over their futures.
What happens to the Thais that do not want to be under a company as they can purchase land on their own names, you talked about them yesterday ?
Are you sure mate ?
Burger |
Burger,
I'm a little busy at the moment but will answer your questions asap by PM.
Cheers |
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lomuamart
Moderator
Joined: 31 Dec 2002
Posts: 4579
Location: hua hin
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| Posted: Sun Jun 04, 2006 12:56 am Post subject: |
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I'm still here with all my money.
Nobody has given one good reason to part with it
_________________
"I spent a lot of my money on booze, birds and fast cars - the rest I just squandered". George Best. |
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Burger
Ace
Joined: 19 Apr 2004
Posts: 1114
Location: Hua Hin
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| Posted: Sun Jun 04, 2006 6:20 pm Post subject: |
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lomuamart wrote:
| Quote: | I'm still here with all my money.
Nobody has given one good reason to part with it |
It's all about whether the individual who is investing considers it a risk or not, personal preference I guess.
Property prices, on decent properties in decent areas, have risen at least 50-60% over the past 3-4 years. People that bought their money over and bought several of those to rent out, will give you good reason to invest. Others on here that are not positive about the risks etc, will advise you otherwise.
I think I read before you had a property in Central London, I wouldn't advise selling that to invest here though as you'll never lose with property there.
Burger |
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STEVE G
Legend
Joined: 03 Apr 2006
Posts: 2723
Location: HUA HIN/EUROPE
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| Posted: Sun Jun 04, 2006 7:25 pm Post subject: |
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Burger wrote;
Well to be fair I've never heard of that, buying land and house and you do not get a land title (chanote) paper in your name (loose term). Just shares, and you do not not have majority voting rights over the company!?
Hi Burger;
When I was in town a few weeks ago, I met a project developer who told of a way to circumvent the property laws that sounds very similar to this.
I was in a bar at the time so don’t quote me on any of this, but as I recall it involved a Hong Kong bank setting up a company in Thailand that owned the land, and when you brought a house you got shares in the bank equivalent to the value of the property.
I don’t know whether this has been done or if it was just an idea, it sounds pretty insecure to me. I certainly wouldn’t want to put any money into a deal like that, like you say you would have no control over anything. |
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malcolminthemiddle
Specialist
Joined: 05 Mar 2005
Posts: 214
Location: Here,there and everywhere
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| Posted: Sun Jun 04, 2006 8:50 pm Post subject: |
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| Burger wrote: |
I think I read before you had a property in Central London, I wouldn't advise selling that to invest here though as you'll never lose with property there.
Burger |
Providing you keep property for a long period.
Many people lost money on UK property in the late 80's when Maggie Thatcher kindly introduced double tax relief just before interest rates hit 15% + , the property market was then stagnant for 10 years. Remember negative equity? |
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tuktukmike
Guru
Joined: 18 Apr 2005
Posts: 525
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| Posted: Sun Jun 04, 2006 9:01 pm Post subject: |
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Think you will find that Thatcher never introduced double tax relief.
What the Tories did do was cancel double Miras, ie tax relief on your mortgage for a couple.
Mike. |
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malcolminthemiddle
Specialist
Joined: 05 Mar 2005
Posts: 214
Location: Here,there and everywhere
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| Posted: Sun Jun 04, 2006 9:15 pm Post subject: |
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| tuktukmike wrote: | Think you will find that Thatcher never introduced double tax relief.
What the Tories did do was cancel double Miras, ie tax relief on your mortgage for a couple.
Mike. |
My recollection is that it was the Tories who introduced double Miras, ie tax relief on your mortgages for a couple just before interest rates hit the roof which was the cause of the UK 10 year property slump and breakup of many young peoples' relationships.
If and when Miras was discontinued I've no idea. |
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tuktukmike
Guru
Joined: 18 Apr 2005
Posts: 525
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| Posted: Mon Jun 05, 2006 12:23 am Post subject: |
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The Tories cancelled the double miras that couples used to be able to claim on one property.
This as you say was a nightmare for mortgage holders at a time when interest rates went through the roof to try and steady the pound.
If you think about it introducing double Miras would have been a help ie double tax relief, it was the withdraw of this that pushed so many couples over the edge.
And of course the Building Societys giving 3 1/2 times the main income and around 2 times the spouse when calculating advances.
Much the same as they are doing now.
Our own mortgage nearly doubled at that time.
Mike. |
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malcolminthemiddle
Specialist
Joined: 05 Mar 2005
Posts: 214
Location: Here,there and everywhere
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| Posted: Mon Jun 05, 2006 3:25 am Post subject: |
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| tuktukmike wrote: | | The Tories cancelled the double miras that couples used to be able to claim on one property. |
Hi TTM,
MIRAS (Mortgage Interest Relief At Source) was abolished in April 2000 by Teddy Bear?
Can we trust anything you post? |
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Jim
Professional
Joined: 07 Jan 2005
Posts: 483
Location: Reading, UK
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| Posted: Mon Jun 05, 2006 3:54 am Post subject: |
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This is such a rare occasion I can't let it pass, so I have to support TTM, who is spot on here. Double Miras was abolished by Nigel Lawson (remember him) in the late 80's, but with a stroke of brilliance. He announced in March that it would be abolished in September, thus forcing loads of young couples into the last stages of the property bubble and consigning them and many others into a decade or so of negative equity etc etc.
Mike - see, I don't disagree with everything!!!!!
Jim
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