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Real Estate in SEA
11-18-2013, 03:45 PM
I have a general question about investing in SEA. I know that in Thailand and in Vietnam foreigners (except expats etc.) are not allowed to own land. Is this the case for all of SEA? I'm interested in all non-landlocked countries, especially cambodia, the philippines and malaysia. Does anyone in here already own land there?
Maybe I'm too old-school-thinking but I wouldn't want to buy real-estate without the ground below belonging to me.
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11-19-2013, 01:23 AM
Owning land through proxy corporate or business entities is the oldest trick in the book but you really need to do your homework concerning this. For example the Thai government has repo'd swathes of land owned this way by rich foreign investors. They don't need a lot of legal reasoning to do it..all they need to do is have someone look through the company and figure out that the owners aren't legitimate or are just local individuals hired to put their names down as 51% corporate owners. If the court finds this out they will almost always side with the local (usually powerful) person prompting the investigation and your shit will get seized unless you can pony up immense tea money to keep this from happening.
There's also little you can do about it either.
You might be able to stay under the radar if you are small fry but just keep in mind that this sort of thing for circumventing property law is not ironclad.
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11-19-2013, 02:30 AM
I have some apartments in Thailand (both Koh Samui and Pattaya), I bought them all off plan and upon completion the value shoots up, usually 40%+.
The buying process was easy, for example you pay 20% up front then pay the rest off in installments as it's being built and another chunk at completion. I have a guy in the UK who gets in touch when a new development is about to be launched (by a reputable developer) and I buy at the lowest price.
If you want to know more, examples of the types of developments, the company I go through etc give me a shout.
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11-19-2013, 03:21 AM
Brisey,
I've looked into buying a condo in BKK or somewhere by the beach in Jomtien and plan on buying something there within the next 1-2 year as a base. Vey interested to hear more on that from you.
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11-19-2013, 07:11 AM
Cambodia or Philippines advice would be great in here too.
Thailand, you can own condos but not the land.
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11-19-2013, 08:21 AM
You never had any problems with reliability from these guys, or investments not following through?
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11-19-2013, 08:43 AM
What about need to go and check it out on the ground? Do you do that, have any people checking it out for you, or always go in blind?
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11-19-2013, 09:01 AM
Nice! I might get into it as well. I'm thinking Brazil as well. But I'm always weary of the scams around these places...
Thanks for the information anyway.
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11-19-2013, 09:39 AM
Yeah the site you mentioned has some property near a Worldcup stadium. But I also read its overvalued property and beyond world cup there is no real expectation for serious valuation.
Id like to invest in something short term like 1 or 2 years.
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11-20-2013, 03:29 AM
How is resale on these units? OnNut here in bkk is exploding with new condos, and out of the half dozen buildings I've looked at, they all had many vacancies. Seems there is more supply than demand, at least as far as rentals go.
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11-20-2013, 03:55 AM
Briskey,
I def wouldn't mind at all waiting a year or two in such a place/deal! Do you live in LOS? Would love to Skype with you to pick your brains on buying property in LOS. PM me your Skype please!
Rio,
What's the going rate on the On Nut properties? Any link to these?
I will be buying a place in LOS within the next 18 months either in BKK or in one those killer deals on the beach so any info would be highly appreciated.
Cheers.
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11-20-2013, 11:03 AM
VP, no links but Rhythm Sukhumvit just opened up a month ago. It is right next to me. Prices started at 2.9 I want to say. Not sure what they are now that it's complete. That seems to be the starting price for most places around OnNut. About 100k US. They look to be renting from 20k up a month. Not sire how the rentals are doing because that seems pretty overpriced from what I've seen. Ideo Mobi I think it's called is about to open across the street also. Ideo opened the Mixx a couple years ago right next to OnNut bts.
Two other new buildings are getting close to open here also. Can't remember the names, one is a Q House I think, but only 50% sure on that.
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11-20-2013, 05:53 PM
@Brisey
Thanks for the valuable input and the links! February is my first trip to Vietnam, and hopefully to Thailand, if I like it there I'll shoot you a message.
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11-28-2013, 09:40 AM
so knight knox is the best one you've gone with or was is heights holdings? or are they the same?? Thanks bro!