sekander Posted January 18, 2007 Report Share Posted January 18, 2007 Don't the building owners keep a list of owners? There must be some master record which would indicate your status. Otherwise, its a foolish gamble. Link to comment Share on other sites More sharing options...
robaus Posted February 1, 2007 Report Share Posted February 1, 2007 I am one of the 49% farang owners in an excellent condotel in N Pattya... everything in my name; no company structure. I've been here 6 years now... no problems at all. Annual maintenace fee for security, pool, facilities - the lot 7,700 baht pa.... and that included painting the outside of the building last year. Bought it for 1m baht now worth near 3m baht. I never tire of the sea view and the cool sea breeze...I'm here for life.. another 20 -30 years before you'll see my pixilated arse on Pattaya Peoples News as the sawan buribum ?? cart me out! Will someone with a better economics mind than mine explain the supply/demand side of this equation. Let's say that the authorities do start cracking down on the phoney silent Thai partners arrangements, I can see how that might jeopardise those sorts of condo prices - owners offloading them as quickly as possible to whoever. But wouldn't that increase the value of the original 49% farang owned condos, that can be easily bought or sold legally to farangs who want to buy without a company structure? Also if it hurts builders, maybe they'll stop building thereby limiting supply. In the currency crash of 97, the government relaxed the ownership laws to stimulate building again. I wouldn't be surprised if this new "let's shoot ourselves in the foot" legislation is reversed again. TIT. Link to comment Share on other sites More sharing options...
shygye Posted February 1, 2007 Report Share Posted February 1, 2007 But have you ever had an audit done on the books of the condo association? PS Don't us a Thai accounting firm. Link to comment Share on other sites More sharing options...
sekander Posted February 1, 2007 Report Share Posted February 1, 2007 Same deal some American friends have in Jomtien. They are all in under the 49% cut-off and neatly ensconced for life. (So it would seem.) I'd join them in a heartbeat but I much prefer the beach at Phuket. I'm a swimmer and need nice, clean beach water. Unfortunately, you pay a premium for that. Anyone have a line on reasonable condos or bungalows in Phuket? Link to comment Share on other sites More sharing options...
robaus Posted February 3, 2007 Report Share Posted February 3, 2007 I have heard of some dodgy goings on at a certain condo development on Soi Bukhao, and I've heard of much higher annual maintenace fees (up to 40,000 pa at a new Beach Rd development.) But at my condotel 7,700 pa (that's US$210 or 110 GBP - my total living expenses apart from water and elec for the entire year!) when I haven't had a single thing to complain about in 6 years, plus there's constant little bits of improvement to keep up the hotel standards, I'm absolutely delighted with it. I think an audit would cost me more than that! Proof of my and others' satisfaction is condos where I live rarely come up for sale. Sure, one should do one's homework, but it ain't all bad news. Link to comment Share on other sites More sharing options...
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