All Forum Posts by: Anthony Paul Moorhouse

Msot Thais in BK speak English , so you shouldnt have a problem , as Tom states above google maybe your freind here or try

[REMOVED]

In Thailand in a condominium situation 49% of the units are freehold to foreigners meaning that 51% cannot be unless they are sold to Thais and in Phuket that is not the case, all or virtually all are sold to foreigners. As a result you end up with two different ownership situations in the same development, which is not a situation that is conducive to harmony of the owners. This is not unique at all as there are many countries in the world where foreigners cannot own freehold and landed property except in certain circumstances and these countries include Singapore, Malaysia, Hong Kong, Australia, India, Switzerland, Vietnam, Korea, Japan etc. etc

As a consequence in our situation we are NOT a condominium but are classed as an APARTMENT complex [REMOVED] and [REMOVED] (a different meaning in law) and as such we only do Leasehold but as previously explained we then give the Land Ownership Company to the owners themselves so they are leasing from themselves and become both the Lessor and Lessee, nothing could be safer! We set this situation up over 10 years ago and it has been signed off by Baker Mackenzie, Johnson Mathey and Stokes and Tilleke and Gibbins, 3 of the biggest and most influential regional law firms in Asia and now virtually every apartment development in Phuket, Samui and Hua Hin have copied our lead as being the most secure method of investment in property. The added benefit is that you not only own the strata title of the apartment (which you would only own under a freehold agreement) but you also own (together with the other owners) all the common areas, roads and land and facilities in fact everything within the land boundaries, to do with what you as a group of owners decide as you are the owners and landlords of everything not just your own apartment, this is not the case with a freehold condominium.

When you enter into a lease in Thailand it is registered at the land office and no one can take this away from you. A foreigner with a lease has exactly the same rights in law as a Thai citizen. If and when Freehold becomes available for all foreigners on all developments and/or the lease period is extended to 99 or 199 or 999 years as will definately happen in the not too distant future then it clearly states in the contract that each owner can move to the new situation at no extra cost except the additional registration costs if they so desire. This is my 5th development here in Phuket in the last 10 years and all are structured the same way and all owners (over 200) are delighted with their effectiveness and ease of operation.

There is no chance of the Lease holding company 'disapearing down the road at some point in the future' as this will be owned 100% and managed by ourselves (the 40 owners only) and I am sure that you will not throw it away, why would you when you all are in it for the same reason namely to enjoy your lifestyle and maximise your investment? I own 4 of the apartments in the complex myself and my partner owns 4 also and all under the same terms and conditions as every other owner and believe me if there was a better and more secure or beneficial way then we would be doing it! I can guarantee you that it is 100% safe and secure otherwise I would not have bought 4 for myself and neither would my partner, we would have sold them and taken the money instead but we believe they are a far better investment than money in the bank and so far we have been proved absolutely right.

Hope this gives some hindsight into leasing in the land of smiles

Hi Dick,

Mainly through my older brother having a succesful operation of developments in the west coast of Phuket.Ive always been in sales, just different products.We are now approaching the high season, so fingers crossed , we may close on a development as we only have 4 properties left.
Hope your all well and enjoy

Totaly agree with most views, The internet media is now one of the most powerful media cost effective tools used.I would also once created a website, start with finding high ranking relevant websites for links, this will increse your rankings within search engines as well.
Regards

Frequently Asked Questions

Q. As a non-Thai national can I own the land upon which the apartment is built?
A. There are ways for this to be achieved however offering 90 years leases (3 x 30 years) and giving the owners the control of the land owning company upon completion it isn't deemed necessary.

Q. Who will manage the Phuket development once it is completed?
A. The developers will set up all the maintenance contracts i.e. gardening, pool cleaning, security, engineering etc. and manage them for the first six months. Once everything is running smoothly the running of the development will be handed over the Owners. The owners will form a committee and the committee will manage the development and the facilities through the full time Estate Manager and his/her team.

Q. How do you expect property prices to perform in Phuket in the future?
A. Obviously one can never absolutely predict any sort of property value increase. However it is a fact that property values in the Laguna/Layan areas have increased by approximately 100% in the last five years! This illustrates the popularity and value for money in Phuket when compared against property values and rises in Bangkok and throughout most of Asia over same period!

Q. What extra on-costs are there associated with my purchase other than for any optional extras, one-off sinking fund or furniture package if required?
A. Only the cost of Lease Registration with the land department which includes stamp duty, taxes and registration fees. These are split 50/50 with the Developer and based on current charges (September 2004) should be between 125,000 and 200,000 Baht dependant upon the size of the apartment you purchase.

Q. Is there a financing solution available for potential purchasers to take advantage of?
A. As a consequence of the pre-2000 financial crisis in Asia, no local (Thai) banks or finance houses are either willing or legally able to offer mortgage facilities for non-Thai nationals. However your local offshore bank may well be able to offer you mortgage facilities against this property or another that you may own in your home country if you are expatriate in Asia.Some developers offer up too 50% finance package.

Q. If, at some point in the future I should desire to sell my property how easy would it be to do so?
A. There are several excellent local and International Estate Agencies established in the Laguna area and most of the best are situated in the nearby Plaza Del Mar center. The paperwork is simple and your appointed agent will deal with everything for you. Additionally we, the developer, also offer a re-sales service to our buyers. All our recent re-sales in the Laguna/Layan area have been relatively quick and all have achieved superb returns on the original purchase price.

Q. What sort of return can I expect if I choose to let out my apartment when I am not in residence?
A. The rental return for each week's rental should be approximately as follows: -

2 Bedroom
3 Bedroom
Penthouse

Low season
(May to November)
US$ 800
US$ 900
US$ 1,500

High Season
(December to April)
US$ 1,200
US$ 1,300
US$ 2,200

Peak Season (December 16th to January 16th)
US$ 1,500
US$ 1,600
US$ 2,600

Longer-term rentals will return a little less.

I hope this helps with a few questions that are the norm in buying condo's in Phuket

Regards

Tony

Kevin

I have a four bedroomed terraced house on the market if your interested.
Seller wants a quick sale as he works far away

regards

Tony

Hi Nick,

Are you in Phuket?

Maybe we can network in the very near future.I'm @ Layan Gardens, near the laguna.

Drop me a mail and we can chat about future opportunities

Regards

Tony

Hi everybody,

My name is Anthony and I’m originally from the North of England, I’m 44 years of age and am now living and working in the land of smiles Phuket, Thailand,

My background is sales/marketing/networking having worked internationally for large corporate and was working for the largest manufacturer in IT solutions in the UK.

I and my entrepreneur brother are in the development market in Asia at present, selling luxury apartments/houses. My Mother, bless her, is living in Scarborough UK with two of my other brothers and I love her too bits.

My spare time is very limited, however I do enjoy Football (Leeds United) Music, Golf, Reading and quality time with my family.

My favorite film of all time is a Tarrintino film called True Romance and my favorite bands are such like U2/Oasis/Radiohead/Seahorses/ACDC/Foo Fighters. Too many too mention, in general, Ska.New romantics. Northern Soul, Punk, Heavy Rock.....

If I can help anyone in anyway, do not hesitate too ask as I’m a great believer in socializing and networking.

Take care everybody

Kindest Regards

Peter

Are you an agent just in the USA or does your agency cover international sales.

With not knowing much about craigslist.I take it this is mainly aimed at the american markets.Do you feel this list would be benefit my Asian properties being advertised on the site before it starts its charging process

regards

Tony
Phuket