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Post by Soutpeel on Apr 2, 2018 19:49:25 GMT 7
New residential leasing law: who wins, who loses The royal Thai government gazette issued on the 16th February 2018 created a wide panic among condominium owners who rent out their assets, condominium developers, and apartment operators across the country. The gazette unveiled the government's plan to enact a new law that will turn residential leasing into a contract-controlled business from the 1st of May 2018. While it is apparent that lessees of residential property would be better protected from unfair contract terms, landlords are questioning if the new law would make it more difficult for them to handle bad tenants. In addition, developers are worried that the new law may scare off investors who are looking for an opportunity to buy a condo unit to rent out. www.jll.co.th/thailand/en-gb/news/631/new-residential-leasing-law-who-wins-who-loses? |
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Post by rgs2001uk on Apr 2, 2018 21:25:07 GMT 7
^^^, no comment.
The only thing I will add is, I own no real estate in Thailand for investment purposes, and NEVER WILL.
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Deleted
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Post by Deleted on Apr 3, 2018 0:28:51 GMT 7
I don't even need to read the story. We already know who loses  . My wife still can't comprehend fully how she's been living in Australia for maybe 7 years now , isn't an Australian citizen but owns her own house. Yes I set the loan up , but it was her deposit. All from her Aussie income. You'll never see that in Thailand. Shame. |
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oldie
Crazy Mango Extraordinaire
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Post by oldie on Apr 3, 2018 5:06:15 GMT 7
My 7 year old kid owns more property than me.
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Post by Fletchsmile on Apr 3, 2018 19:18:07 GMT 7
Have been thinking about renting out our condo, since we moved into our new house a couple of months back - haven't quite moved all our stuff yet though I guess it's more to think about. The phrase below seemed a bit ambiguous - for someone wanting to "clear"... Does it mean: a) will affect all individual investors (regardless of how many property units) or business entities that lease at least five property units; or b) will affect all individual investors and business entities that lease five property units, i.e does the 5 unit threshold apply to both individual investors and business entities? If so I would have expected them to use the word "and"? Key question: individual leasing one condo. Does it apply? Definitely don't see us owning a chain of these, but is possible we might rent out one. |
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Post by rgs2001uk on Apr 3, 2018 21:05:36 GMT 7
I wonder how this will affect, the flippers, the air bnb types, the ones who dont pay tax, the ones not registered as a business.
They come from all over, Kalifornia, Florida, The UK, Europe and The Gold Coast, and they can spout their farang rubbish, the simple matter is, this is Thailand, if you can get better than 5% pa you are doing well.
This country is a renters dream , just check out the roi.
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Post by Fletchsmile on Apr 3, 2018 21:54:56 GMT 7
When thinking whether to sell or rent our condo, ROI or ROCE is a consideration. Not fantastic in Bangkok but is worth a thought as an income source for diversification. I like hipflat.co.th You can put in any condo project in Thailand and it will show you what is for sale, for rent, average price per square metre and trend over time. One of the things it shows on there is an idea of gross ROI you can get for renting www.hipflat.co.th/en/projects/the-star-estate-at-narathiwas-ftocwl |
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Post by rgs2001uk on Apr 4, 2018 21:33:30 GMT 7
Not one for web links etc, more based on my actual on the soi experiences.
Last house I rented, resale value, 5 million baht, two storey 200+ sm, rental price, 10,000 baht per month, cash in hand.
Townhouses value 2 million, can be rented from anywhere from 6 to 8,000 baht per month.
Single storey houses (value 4 million), anywhere from 8 to 10,000 baht per month.
Two storey houses value 6 million, can be had for less than 20,000 per month.
A few years ago I could have rented a single story house in Rayong for 1500 baht per month, yes I shit you not.
I wonder if my old advesary elsewhere ever got his Thai citizenship, he used to talk about the great potential of investing in Pattaya real estate.
I asked him to provide figures, never came, I gave links to my SET performance and Aberdeen performance, all with a history that could be checked, and could be sold at the drop of a hat, or a mere phone call.
I was up tigerfish territory (pattanakarn 44) the other week, they cant build houses fast enough, 2 storey 3 bedroom, cost 9 million baht, pay back 70,000 baht per month, the Thais are snapping them up.
Up my way the number of condos being built is off the wall, pay back 7,000 per month, somcahi and his mrs move in, cheaper than renting.
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Post by Fletchsmile on Apr 5, 2018 15:43:25 GMT 7
Townhouses in particular always seem terrible rental yields to me. There are just so many of them. Unlike condos they are often not located close to BTS, MRT etc. For land close to BTS and MRT these days they like to build condos on it, so they can maximise the value by piling one unit on top of another.
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Post by rgs2001uk on Apr 5, 2018 21:25:51 GMT 7
^^^ not so fast there young fletch, have you ever seen the location of some of those townhouses, the land they sit on is worth a fortune, remember the old chinese style wooden townhouses on Rama 4?
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