expat Posted August 4, 2009 Report Share Posted August 4, 2009 The prices they ask for properties here in Pattaya are ridiculous, so I'm wondering if I could perhaps a rai of land and build five or six houses on it, live in one and sell/rent out the others. Of course I couldn't do it directly as I can't own land, so I'd like to know if there is a legal way to do this, the obvious thing being to do it using a company. Any advice/experience/tips with this type of thing would be appreciated. Link to comment Share on other sites More sharing options...
waerth Posted August 4, 2009 Report Share Posted August 4, 2009 Well the owner of Woodstock is doing it. But he has a Thai wife ... W Link to comment Share on other sites More sharing options...
CTO Posted August 4, 2009 Report Share Posted August 4, 2009 I think a well known poster here does it - has mentioned it before - do a search Link to comment Share on other sites More sharing options...
expat Posted August 4, 2009 Author Report Share Posted August 4, 2009 Thanks for the suggestion. I did a search (search words: property develop) but found nothing. Link to comment Share on other sites More sharing options...
buffalo_bill Posted August 4, 2009 Report Share Posted August 4, 2009 Sir , I am in the middle of researching exactly this field , looking at building cost in Siam one gets a bit greedy lol . I have indeed asked a law office to check on my theory which basically says anybody can own the land and the building AS LONG AS THE WHOLE LOT OWES BUBI OR WHOMEVER ALL THE MONEY if you know what I mean . In other words even if sweet Ploenpit Porntip is the owner in the books , the place is worth nothing with a mortgage up to the rooftop . Nuff said , I will keep you informed . It's interesting . Your approach on building and selling is a very good idea but don't fall for cheap land . Invest in AAA location , that is ALL that matters . Link to comment Share on other sites More sharing options...
expat Posted August 4, 2009 Author Report Share Posted August 4, 2009 Thanks, BuBi, feel free to pt me anytime. I'm down Pattaya way. Cheers, expat Link to comment Share on other sites More sharing options...
WorldFun Posted August 4, 2009 Report Share Posted August 4, 2009 yes property/land prices are ridiculous - not only in Pattaya, but Hua Hin, Phuket, Samui, Chang, Samet, Bangkok, Khao Yai etc all over the kingdom except the more rural/unpopular areas I guess so why invest there even if you could with a company? buy expensive land, build expensive houses & rent out expensively in a market with no buyers? LOL make my day Link to comment Share on other sites More sharing options...
SurinBum Posted August 4, 2009 Report Share Posted August 4, 2009 Building 5 or 6 house on 1 rai?!? That should be a trick.... Link to comment Share on other sites More sharing options...
SiLeakHunt Posted August 4, 2009 Report Share Posted August 4, 2009 I know one or two people who do it, although I think they vere towards pragmatism on the legal side of things. Cheers Link to comment Share on other sites More sharing options...
SurinBum Posted August 4, 2009 Report Share Posted August 4, 2009 yes property/land prices are ridiculous - not only in Pattaya, but Hua Hin, Phuket, Samui, Chang, Samet, Bangkok, Khao Yai etc all over the kingdom except the more rural/unpopular areas I guess What makes the rural areas unpopular? Notice the disctricts in which you mention that the land prices are way out of purportion...?? Heavy Farang concentration. People go out of their way to make life more complex than it needs to be. Link to comment Share on other sites More sharing options...
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