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Buy a holiday home

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  1. #11

    Join Date
    Feb 2013
    Posts
    211

    Foreigners can only buy a condo in Phil's in a complex which is 60% owned by locals. They can only buy a condo in Scamland if its 51% owned by locals. Cannot buy a house, land or business in either of these countries. You can buy in the name of a local and get a 30 year lease or buy in a company name but lots of associated headaches with extra paperwork, legal and accounting fees etc. If you die, your condo in Scamland must be sold within 12 months or else the govt will take ownership. Agree with Katherine, it's better to rent than own in these countries.


  2. #12

    Join Date
    Aug 2006
    Posts
    7,517

    I've had friends who have bought in Thailand and they appear to have done OK. BUT, maybe they bought at the right time, in the right location, and found an agent who was semi honest. They also like Thailand and go back frequently for holidays. And considering you can get reasonable hotels in Thailand for around 1000THB, without any hassles, I'd agree with others on here. Think long and hard before buying.