Does anybody know an investing contact for real estate in SE Asia

Question

Hi,

I am a new investor to real estate and will be moving to Thailand in November. We were thinking we would rent out a house with extra rooms and Airbnb it out while we are there to earn some extra money. Eventually we would like to take that money and buy property in Thailand or Vietnam. I was wondering if anybody has done this before or has any advice or contacts for Vietnam, Thailand or SE Asia.

Thanks for any help you can provide. I look forward to hearing your feedback!!

Thanks,

Hailey

Kelsy Soderlund · Answer

Hi @Hailey Sexton! What city will you be moving to?

I'm not sure about other countries in SEA, but Thailand uses highly protectionist strategies regarding real estate. Foreign investors are generally limited to purchasing condos and the like, and aren't allowed to purchase any land unless citizenship is obtained.

There are a few ways to get around that, but there is a lot of red tape and security is minimal. It is possible to act through a business entity, but the business must be 51% Thai owned unless a substantial amount of money will be brought into the country, and the courts tend to judge in favor of Thai nationals should anything go awry. Personally, I would be very wary of purchasing anything outside the realm of a condo.

As far as renting out rooms, I would be sure to have a written lease agreement and have it translated before signing. If you need help with that I have a few contacts in Chiang Mai I could refer you to. I know a couple agents there as well.

That said, I lived in Thailand for about 6 years and can't wait to get back! If you have any other questions about Thailand I'd be happy to help as best as I can, even if they aren't real estate related. Feel free to PM me.

Enjoy the adventure!

Avi Garg · Answer

@Hailey Sexton Account Closed I did some research on buying property in Thailand. As some previous posters mentioned, you have to be cautious while buying property in Thailand. One of the most effective way is to buy a condo in a complex which is 50% Thai owned. This way you can 100% own the condo. Now I did hear that some builders build standalone townhomes (essentially a bungalow) and sell it to the foreign nationals after the 50% thai quota is met.

Another way is to lease the land for 30 years. You can own the building but not the land. Lots of information available on the internet.

Kelsy Soderlund · Answer

@Hailey Sexton It isn't hard to find rental properties in most major cities although choices can be slim November-April when tourism is high. I would recommend planning ahead if you'll be starting a lease during that time, especially November-January, if you're looking for something in particular. https://www.facebook.com/search/top/?q=real%20esta...https://www.facebook.com/search/top/?q=secondhand%...Those two groups seem to have a pretty steady flow of properties but the listings are mostly in Chiang Mai, so they might not be much help if you'll be in a different city. As @Isabelle W. stated about Vietnam, the same is true about Thailand. Rules are stringent, corruption is high, and the rules are always changing. Thailand is currently under a military government after ousting the former prime minister through a coup, so there's a lot of changes going on and arguably more corruption than before.  My family and I have lived there through a few regime changes though, and as long as you avoid the hot spots there shouldn't be much to worry about. There is a lot more censorship now, so keep an eye on international media and always make sure there's enough in the bank for a next day ticket out of town just in case. In spite of it's flaws, it's still my favorite place!

Isabelle W. · Answer

Hello Hailey

Real estate is local even abroad. Yes watch about property rights.

I wanted to invest in Vietnam but the numbers did not make sense and the government is still reluctant about foreign investors. Rules are stringent and corruption high.

Real estate markets in SE are not transparent. So stay informed, connect with locals while be there (and let us know)

I just bought a hotel condo in Thailand. PM me if you want. But I think the market is speculative ....

Please let me know for your Airbnb. I might be interested for my next stay in Thailand.

Good luck in the smiling Siam !

Micki M. · Answer

Thanks @Avi Garg I'm not particularly interested in investing in SE Asia, but wanting to meet BP members who are local here and investing anywhere.  Although I could definitely relocate to this part of the world!

Micki M. · Answer

@Max Ime I'm in Chiang Mai for a month and would love to find a REIA or have coffee with some investors in the area. Know of anything?

Phuong Tran · Answer

And I am based in Bangkok, if there are other members who live/work here?

Michael Bereslavsky · Answer

I'm investing in Thailand and also reviewing options in other places in SE Asia. Staying in Chiang Mai often, feel free to message me to connect if you're in the area.

Lloyd Orot · Answer

There is a way to invest in Philippines. There are also wonderful options of places to stay.

Leanne Woodmass · Answer

Hi @Micki M, I'm also in CM. Maybe we can grab coffee before you go.

Does anybody know an investing contact for real estate in SE Asia

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