The never-ending "rent or buy" in Thailand debate

Stickman returns to the fray this week. You don't have to read past the title to know his recommendation - the article is entitled "Why I will never buy a condo in Bangkok" - http://www.stickmanweekly.com/StickMark ... angkok.htm (http://www.stickmanweekly.com/StickMarkII/WhyIWillNeverBuyACondoInBangkok.htm) - although he then says "I will never buy in Thailand"

Now is a bad time to buy property almost everywhere. As stickman suggests, extra care is needed when buying condos in Thailand anytime, but if you buy into a good development at the right time it can be a good investment. Also, most people are unwilling to spend money improving a rental property, so it will never be quite how you want it. That will be an important issue for some (though a minor issue for others). For resale, as stickman suggests, you are largely dependant on other foreigners. Best bet is to buy second hand yourself. But always buy in your own name, not in the name of a Thai company. That, whatever the vendor/estate agent says, is an extra risk you don't need.

All that said, if I were getting 9% interest and paying 10% tax on it, I'd probably leave my money where it was too. Where does Stickman come from to get that rate - not Zimbabwe, I hope?

[Dodger]

I wasn't sure if you meant real estate of "boys."

In either case, the baht has weakened, (against the U.S. dollar anyway), and now is a pretty good time for investing in boys, although, I'm not really sure about the real estate. The best time to buy a condo would have been 7 or 8 years ago when you could pick up a studio for around 750,000 baht, which are now selling at around 2,000,000 baht.

Now, boys on the other hand, haven't raised their fee structure at all. You can rent one for as little as 700 baht for a short spin - or 1,500 baht for the long haul, or, just purchase one if you're really in the mood for buying for around 10,000 - 12,000 per month and a little extra for minor maintenance along the way.

Buy the Condo - and rent the Boy, or,
Rent the Condo - and buy the Boy, or,
Rent them both, or,
buy then both. or,
just remain fluid and always be in a state of contemplation.

Now is a bad time to buy property almost everywhere. As stickman suggests, extra care is needed when buying condos in Thailand anytime, but if you buy into a good development at the right time it can be a good investment. Also, most people are unwilling to spend money improving a rental property, so it will never be quite how you want it. That will be an important issue for some (though a minor issue for others). For resale, as stickman suggests, you are largely dependant on other foreigners. Best bet is to buy second hand yourself. But always buy in your own name, not in the name of a Thai company. That, whatever the vendor/estate agent says, is an extra risk you don't need.

All that said, if I were getting 9% interest and paying 10% tax on it, I'd probably leave my money where it was too. Where does Stickman come from to get that rate - not Zimbabwe, I hope?

You can get 8% on a term deposit in Australia and the Aussie dollar has risen against the baht. I bought four years ago, a small building run very well by a farang owner resident but he is right about the fees they are hard to collect.

[Lunchtime O'Booze]

the only question I have is : where the fuck is Stickman getting 9.09%.interest ?

the only question I have is : where the fuck is Stickman getting 9.09%.interest ?Nw Zlnd, I assume. However almost all their finance companies have stopped (sorry, "frozen") repayments of principal - http://www.interest.co.nz/

Mind you, the NZD has taken a beating against all the major currencies this year, and is off against the AUD by 20% of more. I believe WhiteDesire hasn't been contributing the Forum over the past few weeks as he tidies up his forex PhD thesis on "Helen Cluck: having a female Socialist for PM is worse than passive smoking"

[allieb]

I wasn't sure if you meant real estate of "boys."

In either case, the baht has weakened, (against the U.S. dollar anyway), and now is a pretty good time for investing in boys, although, I'm not really sure about the real estate. The best time to buy a condo would have been 7 or 8 years ago when you could pick up a studio for around 750,000 baht, which are now selling at around 2,000,000 baht.

Now, boys on the other hand, haven't raised their fee structure at all. You can rent one for as little as 700 baht for a short spin - or 1,500 baht for the long haul, or, just purchase one if you're really in the mood for buying for around 10,000 - 12,000 per month and a little extra for minor maintenance along the way.
Buy the Condo - and rent the Boy, or,
Rent the Condo - and buy the Boy, or,
Rent them both, or,
buy then both. or,
just remain fluid and always be in a state of contemplation.

Purchase one you say Dodger. Don't you mean purchase a time share.

the only question I have is : where the fuck is Stickman getting 9.09%.interest ?

New Zealand

Although the rates look more like they're now in the 7-8% range.


www.interest.co.nz (http://www.interest.co.nz)