I got one in Hat Yai, I employed Malaysian firm to install false ceilings mood lighting UK plugs, knocked out some walls and made it very elegant. One catch we broke up, the She got the house. 😂
Very cool ! We couldn’t take the heat of BKK but love the idea. We are still traveling and will likely end up in Latin America somewhere in the mountains, but I do love your idea. My wife would enjoy having some kind of little shop.
I'd probably rent rather than buy, since I'm not married to a Thai, but I'm thinking of moving into a shophouse when I return to BKK in a few years. Will be watching with interest!
I feel like you are going to be the first owner on your side to deprive the neighbors of a decent view down the street by walling up the wire caged side waslls of the top floor balcony. At the same time you will be curtailing your view down the street and the proximity to that hot air exhaust you are so enamored of.
Hi Luke, Congratulations to your New Home. Looking foreward to see your renovation project in BKK shophouse. I'm German, married with a Thai Lady and we lived the last 10 years nearby Frankfurt. This year I retired and we plan to live half/half in both worlds. To buy and renovate a shophouse in BKK/Chiang Mai is one of the possibilities we are seriously considering about. Plz take us with you on this journey. Could be a perfect blueprint for us 🙂
I subbed as soon as I saw the title of this video. I have travelled to se Asia a bit and I love the shophouses and have dreamt of owning / renovating one. I like to explore the abandoned ones and last year I camped in one in ipoh malaysia.
LOL, farangs can only lease in Thailand, unless you have a Thai wife who actually did buy the shophouse,, then you could show the chanote....otherwise you are just another renter
Love the old shop houses I would prefer one on a crn but hey it's still awesome good if your Thai wife if you have one can have a business on ground floor. .friend had a small travel agent and they lived up stairs that was when you could get cheap tickets to anywhere in the world 🌎 good old days
I've thought about buying one close to Phra Khanong market. The wife thinks they'd cost about 3m but I'm not so sure. I think the area has a lot of potential for the future as it's increasingly popular for foreigners and the market is ripe for renovation.
Fellow aussie here , Wait for april your going to be in for a hell of a shock when it come to heat in these shophouses. I used to live in suk 101/1 in an exact same style - Never again. The prob isa you cannot in any way insulate the types of properties . Hope you got an usufruct on the deed ? Im still in the area myself ( punnawithi) if ya wanna chat mate
Taxes are reasonable but you can't own directly property. You can setup boi company and owe company 100% and company buy land. Or use limited company as vehicle with 51% your thai friends owning that company. You need good consult or lawyer!
Hi! When I made these videos the aim was to explain the design process (I was not planning to explain anything about Thailand's Property Laws, taxes, nor anything about investing... becuase I didn't think many would be interest in this). However, I see that this is an area people are curious about - so I think I will make a video bout this in the future. In the meantime... Here's a brief overview of the LAWS regarding foreigners and property ownership in Thailand: (a) Land Ownership: Under Thai law, foreigners are generally not permitted to own land in Thailand. (b) Condominium Ownership: Foreigners can own condominium units in Thailand, but there are restrictions. Foreigners can collectively own up to 49% of the total floor area of a condominium project. Individual foreigners can own freehold condominium units outright. (c) Leasehold: Foreigners can lease land and properties for a maximum period of 30 years, with the option to renew the lease for additional periods of up to 30 years at a time, effectively allowing long-term leasehold ownership. (d) Company Ownership: Foreigners can set up a Thai limited company to purchase and own land and properties. However, at least 51% of the company shares must be held by Thai nationals. (e) Usufruct: Foreigners can acquire the right to use and collect profits from a property for a maximum period of 30 years through a usufruct agreement. A usufruct is a legal right that grants someone the ability to use and derive benefit or profit from someone else's property for a specified period of time. Essentially, it separates the ownership of a property from the right to use it. In the context of foreigners acquiring property rights in Thailand, a usufruct allows a foreigner to legally use and collect profits from a property for a maximum period of 30 years, even though they do not have direct ownership of the property. Here's an overview, to answer you questions, about TAXES: There are several taxes associated with property ownership in Thailand for both Thai nationals and foreigners. Here are some of the main taxes: (a) Transfer Fee: A transfer fee of 2% of the appraised value is payable when transferring ownership of land or a whole building. (b) Specific Business Tax: If the property is used for commercial purposes, there is a Specific Business Tax of 3.3% payable on the annual rental income. (3) Income Tax: Rental income from properties in Thailand is subject to personal income tax rates ranging from 0% to 35% for Thai tax residents, and 15% to 35% for non-residents. (4) Local Maintenance Tax: Paid annually to the local administrative organization, typically around 0.3% of the appraised value of the property. (5) Land and Building Tax: This replaced the former House and Land Tax in 2020. The rates range from 0.01% to 0.7% of the appraised value, depending on the type of property and its usage. (6) Stamp Duty: A stamp duty of 0.5% of the appraised value or sale price (whichever is higher) is payable upon transfer of ownership. I hope this answers your question!
can u say hoe do u buy becos farang cand. buy house do u do it whit your Thai girlfriend or by bisnis sorry for bad English and can u tell us howe much dit u buy it for
Hi! When I made these videos the aim was to explain the design process (I was not planning to explain anything about Thailand's Property Laws, taxes, nor anything about investing... becuase I didn't think many would be interest in this). However, I see that this is an area people are curious about - so I think I will make a video bout this in the future. In the meantime... Here's a brief overview of the LAWS regarding foreigners and property ownership in Thailand: (a) Land Ownership: Under Thai law, foreigners are generally not permitted to own land in Thailand. (b) Condominium Ownership: Foreigners can own condominium units in Thailand, but there are restrictions. Foreigners can collectively own up to 49% of the total floor area of a condominium project. Individual foreigners can own freehold condominium units outright. (c) Leasehold: Foreigners can lease land and properties for a maximum period of 30 years, with the option to renew the lease for additional periods of up to 30 years at a time, effectively allowing long-term leasehold ownership. (d) Company Ownership: Foreigners can set up a Thai limited company to purchase and own land and properties. However, at least 51% of the company shares must be held by Thai nationals. (e) Usufruct: Foreigners can acquire the right to use and collect profits from a property for a maximum period of 30 years through a usufruct agreement. A usufruct is a legal right that grants someone the ability to use and derive benefit or profit from someone else's property for a specified period of time. Essentially, it separates the ownership of a property from the right to use it. In the context of foreigners acquiring property rights in Thailand, a usufruct allows a foreigner to legally use and collect profits from a property for a maximum period of 30 years, even though they do not have direct ownership of the property. I hope this answers your question.
Hello! Here's a brief overview of the LAWS regarding foreigners and property ownership in Thailand: (a) Land Ownership: Under Thai law, foreigners are generally not permitted to own land in Thailand. (b) Condominium Ownership: Foreigners can own condominium units in Thailand, but there are restrictions. Foreigners can collectively own up to 49% of the total floor area of a condominium project. Individual foreigners can own freehold condominium units outright. (c) Leasehold: Foreigners can lease land and properties for a maximum period of 30 years, with the option to renew the lease for additional periods of up to 30 years at a time, effectively allowing long-term leasehold ownership. (d) Company Ownership: Foreigners can set up a Thai limited company to purchase and own land and properties. However, at least 51% of the company shares must be held by Thai nationals. (e) Usufruct: Foreigners can acquire the right to use and collect profits from a property for a maximum period of 30 years through a usufruct agreement. A usufruct is a legal right that grants someone the ability to use and derive benefit or profit from someone else's property for a specified period of time. Essentially, it separates the ownership of a property from the right to use it. In the context of foreigners acquiring property rights in Thailand, a usufruct allows a foreigner to legally use and collect profits from a property for a maximum period of 30 years, even though they do not have direct ownership of the property.
@@lukewalksluke I heard and saw in Samui that townhouses which are build on one chanot can sold to foreigner as long as more then 51% of these properties are sold to Thais.
@@mlh4711 I live in Chiang Mai and there was basically nothing here in 1940 except little wooden houses. Maybe BKK has lots of these but I've never seen them in the north.
Witch you good luck. But. Everyone out buy condo apartments or shophouse. 80% lose it. You will get scammed to sell it or give it for free or if you like to sell it. You will lose big %…. Again I witch you good luck. Many guys lost big. We not in Thailand to invest. We there to party’s. Drinks and hookers. Till we drop dead. In pattaya many many guys lost big.
Thai law stipulated that no foreign can own the land in Thailand. Shop-house is considered a piece of land thus, foreign can't own legally. There is a way around it, by pass some of the law and also take advantage of some loop hole in Thai law, but its not entirely legal. I just wonder how you buy this piece of land. In your wife's name? Assuming she is Thai. I'm just curious that is all. I too used to own a piece of land in Thailand. My way of doing it was to buy the land and put it under my Thai friend then had my Thai friend create documents stating he owe me large sums of money and using this land as down payment. It work fine for a while(like 20 years or so). Then the price of the land I owe cost a lot more than the debt document that my Thai friend created. Got me nervous for a while, but lucky he don't have any idea on my land. Then I got the lawyer to create a dummy company which had 51% Thai owner(those owner just on the paper, random guys), then I put my land under this company and pay yearly tax even the company did not operate any business. Doing this way I can sleep well at night knowing no one can take that land from me. Then I found out later, my way of doing it not totally legal. Meaning the company I created with 51% Thai owner should not have any norminy. Meaning a dummy share owner. But then again, that official just close their eyes to this kind of thing, unless I turn out to be a mafia and got on the news. Then all hells break loose after that. In the end I sole my land and move back to the US.
Woah... thank you for sharing and this story is not uncommon. It's messy! At the end of the day patience and diligent research into proper channels are key when acquiring property as a foreigner in Thailand.
@@lukewalksluke I forget to add another info. Around 30 years ago, the Thai government ease up the law and allow foreign ownership of the condo 100%. Provided that that forigner did not buy over 49% of the entire condo. Example, particular condo have 100 units, that forigner can buy up to 49 units in their name. Meaning, he/she can buy a condo unit with 100% ownership with no problem, the condo will be in their name, and they can sell this peice of property later if they wish to. So I would say the best way to invest in housing in Thailand for us foreigner would be condo. No need to go through all kind of loop hole and stuff. Just buy it and put in your name legally.
The area you've bought in is very chinese-centric..........I know Udom Suk. You'll be one of only a handful of renovated buildings in the soi. They dont care too much about the outside of their homes. Its a strange choice - why there?
Why there? Location is good for both my wife & my places of work. Plus access to BTS Udom Suk, BTS new yellow line, the new Bangkok Mall being built and also access to Bangna-Trat highway... and prices are lower compared to downtown.
I'm still alive! Thank you for your concern! These videos & this channle was a hobby... but when life gets busy... hobbies drop down to the bottom of the priorty list and this is what happend to me.
@@lolitapitpong3826 yeah there’s some unsafe loopholes where you make a company and put 49% of the home in Thai people names so basically you own nothing
For sure! The 4th floor has become the area for hanging laundry during the day and also for nighttime TV watching. On the 4th floor during the day it is hot as hell, however, at night time there's a great breeze every night and I don't even need an AC! Just open the windows, burn a mosquito coil, and watch TV... glorious!
I spent 15 minutes here and no how much it cost? Not even an answer in the commentaries. well if it is a secret why bother making a film? very disappointed and not coming back
