Sea View Apartment For Sale

[condostreet 1]

View Talay Condominium Project 5C, this unit is on 8th floor and facing to PATTAYA SIDE,situated near Thappraya road, at the beginning of Jomtien overlooking Jomtien beach. The exclusive 22 storey building offers apartments in various sizes with large balconies and spectacular views over Jomtien beach and Gulf of Thailand, well serviced by public transport, with a high standard of security and a low annual maintenance fee. View Talay 5 is an ideal vacation, retirement and investment property. The apartments in View Talay are always in demand from International companies and vacation visitors and will secure a good return on investment. There are 2 buildings, C & D. Only minutes away from; restaurants, shopping malls, nightlife and beaches.

Facilities : communal swimming pool, poolside restaurant, full CCTV security system, mini-mart, laundry & cleaning service, internet cafes, salons & massage, travel agents etc.

 

48 sqm studio, 1 bathroom, nice decorated, fully furnished, King Size Bed, Euro kitchen, fridge, microwave, heating water.

 

ASking Price: 2.35 M Baht ( Company Name )

[sinbinjack 251]

A very nice apartment and a reasonable price,but aren't Thai quota condos much cheaper than Farang quota.This does not seem to be that cheap,but I may be wrong.

[js007 795]

A very nice apartment and a reasonable price,but aren't Thai quota condos much cheaper than Farang quota.This does not seem to be that cheap,but I may be wrong.

 

 

Technically, it's illegal for a falang to own real estate in Thailand in a "company name." That's why that kind of deal is cheaper. You'd be buying something you don't really own and never will own. And some day, the Thai people may just decide that enough is enough and take back all the illegally held real estate. And don't think it can't happen.

[Fondles 94]

Technically, it's illegal for a falang to own real estate in Thailand in a "company name." That's why that kind of deal is cheaper. You'd be buying something you don't really own and never will own. And some day, the Thai people may just decide that enough is enough and take back all the illegally held real estate. And don't think it can't happen.

 

I thought a Farang could buy a Condo in his name provided the ratio of 49/51 was not exceeded within the complex ?

[js007 795]

I thought a Farang could buy a Condo in his name provided the ratio of 49/51 was not exceeded within the complex ?

 

Yes, for "foreign name" condos. But this is apparently a "company name" condo.

[sinbinjack 251]

I thought a Farang could buy a Condo in his name provided the ratio of 49/51 was not exceeded within the complex ?

This is not within that quota ,thats the reason I thought it was not all that cheap.Though I say again it looks really nice.

[bangkapiboy 5]

This is not within that quota ,thats the reason I thought it was not all that cheap.Though I say again it looks really nice.

 

 

Beautiful decoration, furniture, and kitchen. I wouldn't say it is too expensive in Thai name, due to the view and interior. Anyway, that's what negotiation is for.

[Shit_Happens 31]

The price is good for the location. Most foreign owned condos in this complex on the 8th floor would start at 2.4M and up. This one looks nice so would expect it to be around a starting price of 2.5M to 2.6M.If you can use a thai name or happy with the company it would be a good buy, plus you could probably negotiate some off this price due to the flat market.

 

PS The empty shell would have cost around 1.7M to 1.8M so add on the renovations this one is around cost price.

Edited September 25, 2011 by Shit_Happens

[sinbinjack 251]

I dont pretend to know all that much about property and the vageries of the Thai property market are well beyond me but,I was under the impression (what I was told) that Thai prices were between 30-40% less than farang prices,making it still a poor deal even if you count the good decorations.

Edited September 25, 2011 by sinbinjack

[Shit_Happens 31]

I dont pretend to know all that much about property and the vageries of the Thai property market are well beyond me but,I was under the impression (what I was told) that Thai prices were between 30-40% less than farang prices,making it still a poor deal even if you count the good decorations.

 

 

But this Condo is not in a Thai inividuals name but a Company name. So if you are prepared to use the Thai Company it will be your Condo.

[Idefix 2,275]

I thought a Farang could buy a Condo in his name provided the ratio of 49/51 was not exceeded within the complex ?

True for recent condos, and for most condos, but depending of the period it was built it can be different:

Center Condominium by example has a 90% ratio authorized to non-Thais.

[Parkwahn 61]

Looks a nice fit out, company name its a but toppy price wise farang name for me or not at all..

[sinbinjack 251]

But this Condo is not in a Thai inividuals name but a Company name. So if you are prepared to use the Thai Company it will be your Condo.

That is just another way of saying its a Thai share condo.If there was any Farang share condos left then that is what it would be ,Company owned condos are only owned by companies to get around the 51/49 split and are "illegal" even if at the moment no one is doing anything about it.The reason that developers can charge a premium to Farangs is the fact that the farang share (in a good complex)is quickly sold out and they then resort to Company owned places to keep the Farangs interested,but as has been said many times, if you do it and the political wind changes you could end up out of pocket.

PS it will never be "your condo" but will always belong to a company in which you can only be a minority shareholder.

PPS Thai people pay a lot less for condos in the same block than Farangs.

Edited October 5, 2011 by sinbinjack

[Grandpollo 366]

But this Condo is not in a Thai inividuals name but a Company name. So if you are prepared to use the Thai Company it will be your Condo.

There was quite a good legal article recently pointing out the pitfalls of a farang (or a Thai for tha matter) using a holding company to own property then living in it. All about not paying taxes for the free compensation to the owner of the company etc., sounded dire. Ask a Thai law firm.

[jacko 8,814]

Looks a nice fit out, company name its a but toppy price wise farang name for me or not at all..

I tend to agree, with a condo you should have the ability to put it into your own name (foreign owned). One that was in the allocated to Thais percentile would have to be somewhat cheaper to attract me. Owning it in a company name is no more risky than doing the same with a house, but in my case, I would trust the wife and buy it in her name.

[scorpions 6]

A condo I would always buy directly as a foreigner also if it costs more but for a house you still have unfortunately no other option ... will stick with a condo until this will change. Who knows one day just look to Malaysa!

[ChiangMai 0]

can anyone answer this question?

 

I if buy a condo in a Thai friends name - does it STAY in the farang quota? for selling to farang?

Edited November 6, 2011 by ChiangMai

[chris2004 67]

Why would you even consider buying a condo in thai or company name when there are thousands available in foreign name (unless it is dirt cheap)

[sinbinjack 251]

can anyone answer this question?

 

I if buy a condo in a Thai friends name - does it STAY in the farang quota? for selling to farang?

AFAIK,If you buy a condo in a Thai name you can resell it to a Farang as long as there are more than 51% of the remaining condos in Thai names.The 49%/51% split is the important part not the name on the lease.Its like ,when a 100 condo development is finished and the condos are put on the market the Thai owners can sell 49 of the condos to Farangs immediately, even if the rest remain unsold,they belong to the "Thai" developer.