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Phuket is an adaptive and dynamic island that continues to evolve and its elegance unceasingly expands. Its real estate landscape changes from year to year as new developments match the demand for the most recent and biggest trends. Phuket is home to arguably the world’s most stunning private villas. In addition to stunning vistas, private pools, and uninterrupted privacy, these private villas in Phuket come with exclusive designs, personalized attention, and a variety of other facilities to keep you relaxed and comfortable. If you are seeking the perfect luxury villa in Phuket, you have come to the right place as […]

The story Breathtaking Luxury Villas in Phuket for Sale by CBRE as seen on Thaiger News.

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Yes....breath taking! I'm sure the Chinese will be more than happy to buy them at bargain basement prices. They have a whole year to save up until they can visit :)

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15 minutes ago, Soidog said:

How as a foreigner can you buy a house? Does it require some technical or legal loop hole?

nah, just put it your girlfriend's name

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8 minutes ago, AlexPTY said:

nah, just put it your girlfriend's name

Oh of course. Silly me. I’ll buy 2 then. One for each of the girlfriends 😂

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19 minutes ago, Soidog said:

How as a foreigner can you buy a house? Does it require some technical or legal loop hole?

Anyone can buy a house but you can't buy the land it sits on - however there are a few ways around this.

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IMO never buy a property in Thailand.  Rent is very cheap comparatively - the money invested wisely can earn enough to pay the rent (not invested in Thailand of course). Then you can move if someone opens a chicken or pig farm, or a karaoke bar nearby, or the neighbours start having 'street parties', or a pack of soi dogs decide to set up nearby, and so many other things that can happen and mean you want to move - and that includes a 'problem' girlfriend or wife.  

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38 minutes ago, Soidog said:

How as a foreigner can you buy a house? Does it require some technical or legal loop hole?

Company or 30 year lease but in literal terms you may be able to buy the house but as a foreigner not the land title.

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3 minutes ago, AussieBob said:

IMO never buy a property in Thailand.  Rent is very cheap comparatively - the money invested wisely can earn enough to pay the rent (not invested in Thailand of course). Then you can move if someone opens a chicken or pig farm, or a karaoke bar nearby, or the neighbours start having 'street parties', or a pack of soi dogs decide to set up nearby, and so many other things that can happen and mean you want to move - and that includes a 'problem' girlfriend or wife.  

Glass half full then ?

That could apply in any country surely ? Alternatively you could buy a house with your investment profits which locks it in then live rent free for the rest of your life. All your income is then spending money.

Personally I hate the thought of renting, making someone else rich at my expense isn't for me.

 

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33 minutes ago, Benroon said:

Anyone can buy a house but you can't buy the land it sits on - however there are a few ways around this.

Exactly. I’m aware of the workarounds, but not something I’d want to get in to for a sizeable asset. 

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25 minutes ago, gummy said:

Company or 30 year lease but in literal terms you may be able to buy the house but as a foreigner not the land title.

Yes mate. Like buying a car but not the wheels 😂

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24 minutes ago, Benroon said:

Glass half full then ?

That could apply in any country surely ? Alternatively you could buy a house with your investment profits which locks it in then live rent free for the rest of your life. All your income is then spending money.

Personally I hate the thought of renting, making someone else rich at my expense isn't for me.

I guess it depends how old you are and your personal situation when you move to Thailand. You can rent a decent house for 15,000 baht a month (less in some areas). Over 20 years thats 3.6 million baht (The price of a house). At least when you die you can leave that to a partner and/or children. Buying however does sort of lock you in to one location as they are difficult out to sell 

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Just now, Soidog said:

Exactly. I’m aware of the workarounds, but not something I’d want to get in to for a sizeable asset. 

I think people worry too much about ownership here largely due to the fabled loss to the evil bargirl which is repeated about 2 million times a week on various forums - I'm sure it happens but there are probably 10,000 owners who never have a problem for everyone who gets fleeced. And if you put the house in your name, the land in the girlfriends/wife's and then get a usufruct assigned to the land, you're completely safe providing you get a decent lawyer to draw it up (or speak fluent thai) - it is all registered at the Land Office. A fool and his money are soon parted and all that.

Even a thai government wouldn't do a Zimbabwe on foreign ownerships - the fallout would just be too huge. 

I have a friend in Phuket who has made millions (pounds) from property building and selling. Another mate near Khao Kalok who built his own house, ending up with 4 projects !! He's done pretty well.

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3 minutes ago, Soidog said:

I guess it depends how old you are and your personal situation when you move to Thailand. You can rent a decent house for 15,000 baht a month (less in some areas). Over 20 years thats 3.6 million baht (The price of a house). At least when you die you can leave that to a partner and/or children. Buying however does sort of lock you in to one location as they are difficult out to sell 

I guess that is up north right ? You will be hard pressed to rent anything decent, pool etc under 35,000 a month near me.

I'm here in my one life to use my money on me and immediate family having a nice life, I have no interest living in a smaller house than I can afford so I can leave it to someone else. If you buy well, nothing should be too difficult to sell. Off a project yep agree, I've seen some pretty hefty losses, but build your own, you should do ok.

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19 minutes ago, Benroon said:

I guess that is up north right ? You will be hard pressed to rent anything decent, pool etc under 35,000 a month near me.

I'm here in my one life to use my money on me and immediate family having a nice life, I have no interest living in a smaller house than I can afford so I can leave it to someone else. If you buy well, nothing should be too difficult to sell. Off a project yep agree, I've seen some pretty hefty losses, but build your own, you should do ok.

Yes I was meaning out of town and a normal 2 or 3 bedrooms house without pool or much land. The type of property that would sell for 4-5 million baht. Clearly not a price you would pay in Bangkok or high end areas of Phuket. 

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1 hour ago, Benroon said:

Glass half full then ?

That could apply in any country surely ? Alternatively you could buy a house with your investment profits which locks it in then live rent free for the rest of your life. All your income is then spending money.

Personally I hate the thought of renting, making someone else rich at my expense isn't for me.

In Australia I can never be threatened with being deported, and land and property ownership is totally protected and Govt guaranteed for all residents and citizens. Many people have bought property in Thailand and years later find out that things were not as they thought they were. But yes that does apply in any country where you dont have any legal rights - and buying property under that caveat is IMO far too risky - unless of course you decide to take that risk and/or dont care about any 'returns on investment'. Many blokes build their ideal home in/near their wife's home village - ROI is not an issue for them. 

I did the numbers (in detail) some years ago over 10-15 years, and the actual costs of buying and maintaining, and then selling a property in Thailand, versus investing that money and then renting the same vale of property, are very much in favour of renting.  Certainly that all depends on property value increases which in some places (certain areas of Bangkok) are far above the 'norm', but even they are often not good for an Expat selling. Property maintenance costs can be 'extreme' in Thailand, and the total costs of buying and selling.  Certain things can change the equation, especially the annual returns on the money invested, and also a few other costs and revenues.  But overall the numbers are clear when looking into buying a house in Thailand versus renting, unless of course you pay way too much rental fees, or buy extremely cheaply - as long as you then later sell it. 

What I found is that the basic reality applies the more the value of the property in Thailand.  That is certainly not the case in Australia where property values increase far more than in Thailand, and costs to buy and sell are also lower, and the rental prices for an equivalent house are far higher.  But investment returns here are often well above what is available in other countries (5-7% PA over 10 years).

Having said that, in Thailand is a general truth that buying a run down cheap property and fixing it up and then selling it, is often very profitable because of the very cheap labour and material costs, and the 'easy' development rules. That is not the case in the west where labour and materials costs are extremely costly, and development rules can be extremely restrictive.  I knew a bloke who bought two cheap adjoining units in a condo and then turned them into a single big unit, and he made a profit of several million baht. He had complicated and convoluted business arrangements, ands was always 'on the grift'. I stopped all that years ago, and in Thailand it is even harder - now I just want an easy happy life.  

 

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1 hour ago, Benroon said:

I think people worry too much about ownership here largely due to the fabled loss to the evil bargirl which is repeated about 2 million times a week on various forums - I'm sure it happens but there are probably 10,000 owners who never have a problem for everyone who gets fleeced. And if you put the house in your name, the land in the girlfriends/wife's and then get a usufruct assigned to the land, you're completely safe providing you get a decent lawyer to draw it up (or speak fluent thai) - it is all registered at the Land Office. A fool and his money are soon parted and all that.

Even a thai government wouldn't do a Zimbabwe on foreign ownerships - the fallout would just be too huge. 

I have a friend in Phuket who has made millions (pounds) from property building and selling. Another mate near Khao Kalok who built his own house, ending up with 4 projects !! He's done pretty well.

Not completely safe Benroom.  You try and sell that property if you get divorced and she doesnt want to, or if the wife dies and the family wants money.  And I have heard of families taking the Expat to court to remove him from the property by 'cancelling' his Usufruct though the local Court. And I have heard of banks repossessing property due to bad debts/loans taken out against the property by the wife (both before and after a divorce).  I have that info from two lawyers one in Chiang Mai and one in Khon Kaen. But if anyone decides to take that risk, then that is up to them. As long as you know the risks and accept them, that that is up to you. I am only talking about the risks - not telling anyone what to do - and not saying anyone who has bought is wrong.

 

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Yep horses for courses and as SOIDOG said personal circumstances as to where you are in life - at the end of the day you have to do what you’re comfortable with.

One other reason I bought was to give my wife and daughter some security should I snuff it suddenly! 

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54 minutes ago, Soidog said:

Yes I was meaning out of town and a normal 2 or 3 bedrooms house without pool or much land. The type of property that would sell for 4-5 million baht. Clearly not a price you would pay in Bangkok or high end areas of Phuket. 

That place for 5 million can be rented for about 20K a month (240K PA) - sometimes less - yes they will ask for a lot more.  5 million is $200K AUD.  $200K at just 5% interest is 10K AUD or 250K Baht PA (no tax). But I am getting 7% average (much more this year) which is 350K PA interest on that money.  Now add the costs of buying (and selling) and then add maintenance and all the other costs of owning a property in Thailand - and then add it all up over 10 years.  I am making far more money from investing that 5 million Baht, than it is costing me to pay rent.  Now do a cost benefit analysis of the ability to move anywhere at anytime, and all the other positives about renting - another good one is the ability to get some of your money when it is desperately needed - you cant sell a kitchen or a bedroom - you can only sell the whole house. 

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7 hours ago, AussieBob said:

Not completely safe Benroom.  You try and sell that property if you get divorced and she doesnt want to, or if the wife dies and the family wants money.  And I have heard of families taking the Expat to court to remove him from the property by 'cancelling' his Usufruct though the local Court. And I have heard of banks repossessing property due to bad debts/loans taken out against the property by the wife (both before and after a divorce).  I have that info from two lawyers one in Chiang Mai and one in Khon Kaen. But if anyone decides to take that risk, then that is up to them. As long as you know the risks and accept them, that that is up to you. I am only talking about the risks - not telling anyone what to do - and not saying anyone who has bought is wrong.

I’m not exactly Stephen Hawkins but I’m smart enough to know how to eliminate the risks which catch out the gullible (and then go on to shout from the rooftops how terrible Thailand is when it’s their own stupidity that’s undone them). I waited years before buying when I felt I knew the subject. 

Why would her family be entitled to any money ? They wouldn’t. If she died for instance then I get everything according to our wills.  How could they remove me from a house I own that has no connection with them ?
Plus she has a fantastic family anyway, there’s not a bad egg amongst them but any potential issues like that are resolved by not scrimping on who you hire as a lawyer.

She also can’t take loans against the house as I own it, and when she comes to show them the Chanote which would be required as security it would have my usufruct registered  against it making it useless to the bank, and no they can’t be ‘cancelled’ despite what the vociferous anti Thais say on TV. if they could then I sue the lawyer and land office who have given me a signed 99 year contract. Again courts are also not as anti farang as certain forums would have you believe. If you do things properly the courts will back you. You only read about the bad stories which again can usually be filed under S for stupidity. 
 
Like I said have a good lawyer, sleep easy. 

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12 minutes ago, Benroon said:

Yep horses for courses and as SOIDOG said personal circumstances as to where you are in life - at the end of the day you have to do what you’re comfortable with.

One other reason I bought was to give my wife and daughter some security should I snuff it suddenly! 

Very good point.  I am in the lucky situation whereby we place investment funds in my wife's name here in Australia and it is 100% safe and Govt guaranteed - plus she will inherit a large chuck of my investments.

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5 minutes ago, AussieBob said:

That place for 5 million can be rented for about 20K a month (240K PA) - sometimes less - yes they will ask for a lot more.  5 million is $200K AUD.  $200K at just 5% interest is 10K AUD or 250K Baht PA (no tax). But I am getting 7% average (much more this year) which is 350K PA interest on that money.  Now add the costs of buying (and selling) and then add maintenance and all the other costs of owning a property in Thailand - and then add it all up over 10 years.  I am making far more money from investing that 5 million Baht, than it is costing me to pay rent.  Now do a cost benefit analysis of the ability to move anywhere at anytime, and all the other positives about renting - another good one is the ability to get some of your money when it is desperately needed - you cant sell a kitchen or a bedroom - you can only sell the whole house. 

I guess it depends how close you are sailing to the wind if you are in a position where one day you might ‘desperately need it’ - I wouldn’t be buying a house if I lived here on a smallish budget for sure. 

The 5 mil house you were talking about , a house worth that in HH would probably rent for 35k+ if it’s in good condition. You’re certainly not getting it for 20k unless it’s a dump. 

I’m not defending one way or the other as better - but I’m just someone who likes to own everything I have and if I can’t afford it, I don’t have it. 

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7 hours ago, Benroon said:

I’m not exactly Stephen Hawkins but I’m smart enough to know how to eliminate the risks which catch out the gullible (and then go on to shout from the rooftops how terrible Thailand is when it’s their own stupidity that’s undone them). I waited years before buying when I felt I knew the subject. 

Why would her family be entitled to any money ? They wouldn’t. If she died for instance then I get everything according to our wills.  How could they remove me from a house I own that has no connection with them ?
Plus she has a fantastic family anyway, there’s not a bad egg amongst them but any potential issues like that are resolved by not scrimping on who you hire as a lawyer.

She also can’t take loans against the house as I own it, and when she comes to show them the Chanote which would be required as security it would have my usufruct registered  against it making it useless to the bank, and no they can’t be ‘cancelled’ despite what the vociferous anti Thais say on TV. if they could then I sue the lawyer and land office who have given me a signed 99 year contract. Again courts are also not as anti farang as certain forums would have you believe. If you do things properly the courts will back you. You only read about the bad stories which again can usually be filed under S for stupidity. 
 
Like I said have a good lawyer, sleep easy. 

I have not even looked at another forum for many years mate - bunch of *****'s.

No - you are not Hawkins and neither am I - did read his book though.

I think you missed or overlooked my last comments in my post:  "But if anyone decides to take that risk, then that is up to them. As long as you know the risks and accept them, that that is up to you. I am only talking about the risks - not telling anyone what to do - and not saying anyone who has bought is wrong."

It is not about you mate - it is Expats talking about buying versus renting - dont take it personally mate.

 

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Just now, Benroon said:

I guess it depends how close you are sailing to the wind if you are in a position where one day you might ‘desperately need it’ - I wouldn’t be buying a house if I lived here on a smallish budget for sure. 

The 5 mil house you were talking about , a house worth that in HH would probably rent for 35k+ if it’s in good condition. You’re certainly not getting it for 20k unless it’s a dump. 

I’m not defending one way or the other as better - but I’m just someone who likes to own everything I have and if I can’t afford it, I don’t have it. 

Been to HH and looked at many properties renting for 20-25K that would sell for that and more.  Rented a place in CM for 20K that the agent wanted 25K - same house across the road (Land and Houses Estate) was on the market for 5.5 Million. In KK and many other cities there are lots of houses for rent around 20K that would sell for 4-6million.  Dont look at internet real estate websites (especially Fazwaz) - they are massively over-priced - go into the gated community and look around - go see local agents.   

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