by kevinyeo | Oct 24, 2018 | Questions and Answers
Question: Are Condominiums In Rama 9 A Good Investment?
Answer:
Rama 9 or Phra Ram 9 has been 1 of the investment hotspot in Bangkok recently. There is an MRT station with the same name so getting there is rather easy.
Rama 9 is beginning to become an extension of Bangkok’s central business district. The stock exchange of Thailand has relocated nearby and you can now see many prime offices in Rama 9. Many MNCs have already made Rama 9 their home.
Rama 9 is also 2 stations away from Asoke and only 1 station away from Makkasan, where you can link to Suvarnabhumi Airport directly.
A lot of the expatriates and the Thais who are working nearby are fueling the demand for residential rental in the nearby places.
Rama 9 would be 1 of the locations in Bangkok that you can find tenants rather easily.
When the right opportunity comes along, Rama 9 will definitely be one of the better locations to invest in currently.
Got a question? You can reach us at [email protected] or [email protected]
by kevinyeo | Oct 21, 2018 | Questions and Answers
Question: Is there any difference between buying directly from the developer or through an agency?
Answer:
It may be a good idea to buy through the agency as they are usually also capable of assisting you with your after sales and rental after the property is completed.
The developer sales staff are there for solely one reason. To sell you the property of the show flat you are in. We would tend to think that they are less impartial.
We have got a lot of clients coming to us asking about a particular property in Bangkok only to discover better options available through our recommendations.
If both the developer and agency are getting you the same price for the property, it will be a better idea to find someone who is well versed with the Bangkok property market, responsive and has the ability to provide after-sales service.
It will make your life a lot easier in time to come.
Got a question for us? You can reach us at [email protected] or [email protected]
by kevinyeo | Oct 17, 2018 | Questions and Answers
Question: What Are The Payment Schemes Available When Purchasing Bangkok Property?
Answer:
Currently, for buying a condominium directly from developers, deferred payment is widely practiced. There is no fixed formula so it will differ from developer to developer.
Usually, buyers will pay an amount of about 20% to 30% of the property value to the developer upon booking of the unit. The remaining amount will be payable upon the completion of the construction of the condominium.
For example, if you buy a condominium for THB 6,000,000, you will be required to pay THB 1,500,000 (assuming 25%) upfront. This money is to be transferred directly to the developer account. This has to be in cash only.
For buyers intending to secure a loan for the purchase of their property, they can only do so nearing the completion of the property. And the loan is only applicable for the balance 75%.
Do you have questions regarding investing in Bangkok properties? Do connect with us at [email protected] or [email protected]
by kevinyeo | Oct 14, 2018 | Questions and Answers
Question: Why are Bangkok properties so expensive?
Answer:
A lot of people actually think that Bangkok properties are cheap. However, that should not be the basis for your investment decision. Truth be told, the prices of properties in Bangkok have risen over the years as well.
A good 1 bedroom apartment in the prime location can set you back at US$220,000 today. It is no longer the case where you can pick up a 1 bedroom apartment in prime Bangkok with just a budget of US$80,000.
1 of the main driving factors of Bangkok property prices is that the city is developing well. Bangkok is well positioned in ASEAN and will be a transport hub.
We will encourage clients to invest in good investment grade properties rather than buying just anything which may have issues with renting in the future.
Have a question regarding Bangkok property? Please feel free to get in touch with us at [email protected] or [email protected]
by kevinyeo | Sep 23, 2018 | Questions and Answers
Hi everyone, this is the 2nd episode of our Invest Bangkok Property Ask Us Anything.
In the following video, we will be answering 6 questions posed to us by some clients.
Here are the questions we dealt with in this video.
Question: Why Are Prices Of Condominiums Different Within The Same Area?
Answer:
In Bangkok, it is interesting to see development prices varying as much as 20 to 30% when they are all located in the same vicinity. There are many contributing factors.
Firstly, you have to understand that in Bangkok, condominiums come in various grades. A condominium can range from having super high-end luxury finishes to the mass market where the developer squeeze 1000 over units within 1 tower block with average quality finishes.
There could also be high rise developments on the main road with a full plethora of facilities versus a low rise in the small lane with just a 20 meters pool and a simple gym.
These are all reasons why condominium prices can vary in the same location. And at the end of the day, these factors will also affect your rental demand and resale value.
Question: Should I Consider Buying Resale Versus New Launches?
Answer:
It depends. Resale condos are normally cheaper than new launches. A lot of resale condo on the market are quite run down with limited facilities.
Tenants may more than likely demand newer condos with better facilities.
However, having said that, there are still some resale condos that represent good value. You just have to find them.
There are also instances that investors may prefer new launches because typically, an investor is only required to pay a portion of the property value before it completes. And in between the purchase till completion, the investor can choose to sell on the property for a profit if the situation allows.
Over at InvestBangkokProperty.com, we also can assist our clients who may be interested to look at resale properties. We run an agency in Bangkok and will be able to source for quality properties locally.
Question: Do I have to pay tax when selling my property in Bangkok?
Answer:
Yes, there are taxes involved. We have a holistic article on the taxes to pay when selling your property in Bangkok. You may read more here: Thailand Property – Legal and Tax Issues.
Question: How should I transfer funds to pay for my property in Bangkok?
Answer:
For foreigners, you have to wire the funds via the bank. The wiring of funds has to be done in your respective foreign currency, not Thai Baht. This is a process that must be done right or you may encounter difficulties during the title transfer.
Question: What are the payment schemes for buying property in Bangkok?
Answer:
In Bangkok, for the purchase of new condos, you are typically required to first pay a deposit to the developer. This amount could range from THB100,000 to THB200,000.
Then within the next 14 to 30 days, you will be asked to make a transfer of about 25% to 30%. Once that is done, the developer will then proceed to prepare the Sales and Purchase Contract.
As for the final balance, it shall be payable when the condo is completed and ready to transfer.
The terms of payment will differ with different developers.
Question: Can foreigners get a loan to purchase property in Bangkok?
Answer: Yes, foreigners can get a loan. However, do note that a loan can only be secured upon completion of the property. There are a few banks that offer property loans to foreigners.
Typically, the loan to value for foreigners is up to 60% or 70%.
For the list of banks available, you can contact us for more information.
Got a question for us? Email us at [email protected]
by kevinyeo | Mar 26, 2018 | Questions and Answers
This is our very first vlog doing questions and answers. We have been receiving many questions from investors with regards to investing in Bangkok condo properties. So we have decided to record videos to answer these common questions so that everyone else can benefit too.
You can watch the video above or read the following on the questions we have answered in this video.
Question: Why Is Bangkok A Good Investment?
Answer:
We often have people asking us why only Bangkok? How about other places like Phuket or Hua Hin?
We strongly advocate Bangkok is mainly because of its location. Bangkok is strategically positioned in the middle of South East Asia. With China embarking on the One Belt One Road policy, there will be a high-speed rail that connects Bangkok to China. This is certainly a big draw for investors around the region, especially the Chinese to start putting monies into Bangkok properties and businesses.
Bangkok has a ready infrastructure. They have a very extensive rail system and there are existing plans by the government to further expand this rail network. The number of stations is expected to double by 2030.
With 2 international airports, Bangkok is one of the most well-traveled cities in the world.
The Thai government is also very welcoming of foreign investments.
That is the main reason why we rate Bangkok as 1 of the best places to invest in compared to the surrounding countries.
The reason why we do not advocate places like Phuket and Hua Hin is that of investors not really having a clear exit strategy. We have personally witness clients who have bought Bangkok properties and offloaded them to another buyer. We have also clients who are already landlords, collecting rent from their Bangkok properties.
We have had many clients who have successfully sold their Bangkok condo investments and made a profit from doing so. There is truly an active resale market in Bangkok.
That is also of course subjected to you making the correct investment decisions and getting a property in the right locations in Bangkok.
Question: Can Foreigners Buy Property Legally In Bangkok?
Answer:
Yes, you can. The title will be in your name. But do take note that foreigners are only allowed to buy condominiums. And out of the total floor area, foreign ownership can only go up to 49% in a single development.
Question: Where Is A Good Place To Purchase Property In Bangkok?
Answer:
To get an investment property in Bangkok, always start with the core central region of Bangkok. These are places like Silom, Ploenchit, Sathorn.
Thonglor and Ekkamai are also popular residential areas, especially with the Japanese.
Some of you may also like to consider growth areas such as Bang Sue, where the high-speed rail terminal will be, as well as Rama 9, the upcoming new CBD of Bangkok.
Question: Is It Difficult To Sell My Property In Bangkok?
Answer:
Generally, it is not difficult to sell your property in Bangkok. You just have to approach the resale agents in Bangkok to help you sell your property. There are many different real estate agencies in Bangkok that you can approach.
Alternatively, you can also come to us, we will help our clients to do after sales and property management if they require assistance.
Question: Who Are My Tenants?
Answer:
It very much depends on where you purchase your Bangkok property. For example, if you like to target the Japanese expatriates, then you should be considering property in Thonglor and Ekkamai.
Places like Silom, Sathorn, Chitlom, and Ploenchit will have access to the embassies and the grade A offices in the vicinity.
For places like Rama 9, you may be getting more white collared Thai workers who are working in the area.
Question: Do You Also Market Other Countries’ Properties?
Answer:
We are also licensed real estate salespersons in Singapore. We have been in the market for more than 10 years. We do have a portal for Singapore property as well. https://www.lovelyhomes.com.sg/
Got a question for us? Email us at [email protected] or you can leave us a comment on the video!
