Wider World by CS

Should you be buying Property in Thailand ? 

by resident on Sat Oct 06, 2007 5:13 am

There are many stories being told of the dreams of buying property in Thailand. Let's be realistic all property purchases in Thailand are risky why ?

Well for one thing you can't own the property and don't say condominiums are exempt for this cause it's not entirely true. At the end of the day it's the land that counts, and the fact is foreigners cannot own the land. So whatever a scrupulous property agent will tell you, (they have a habit of over-dressing this in order to get a sale) you don't have rights to the land in Thailand are we clear on this ?

Secondly, thinking of setting up a company to do a property deal, well that just complicates matters even further. The general consensus is that Thailand is geared up for foreigners to fall flat on their face when it comes to investments. Either though beurocratic and outdated legislation or by the unknown. Unknow could be a lot of things say , you got a 30 year lease and then the leaseholder suddenly dies, what happens then. Or maybe you thought the land was ok, until the true legal owner of the property turned up to claim the land. 

 

Maybe some land office official made a deal with either a corrupt solicitor or property agent to fool you in thinking that the land papers were ok. The fact is guys, Thailand is highly corrupt, the law is not on your side, and even if it was to some extent, who is the law to believe, a Farang or a Thai ?
My advise to you out there, is come to Thailand sure, and have a great time, but DON'T DON'T commit yourself and put all you eggs in one basket. Like the saying goes ... a fool and his money are soon parted ! .. and believe me there are many fools out there.

resident