Anyone purchased in Thailand?

Terry,

I lived in SEAsia for some years.

Corruption is endemic in the region. This means that building inspectors are paid off. Building work is very shoddy and there are widespread stories of concrete being mostly sand, steel reinforcing being replaced by bamboo etc etc.

I would also be very concerned about management there. I just know that the rich farang from Australia would be fair game to most anyone you dealt with.

I really don’t mean to sound racist – I love the region and I really enjoyed meeting Thai people – but I would not even consider investing in Real Estate there nor doing business in the region unless I had Thai family to represent my interests.

Sorry to be such a downer [blush2]

Cheers,

Simon Macks
Residential and Commercial Finance Broker

[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Hi Terry,

I’ve never lived there but when I was at uni I shared a flat with an exchange student from Thailand. She became a good friend and introduced me to some other Thai students. They are lovely people with an interesting culture.

I have since visited Thailand and can tell you that if you are with a Thai national you will soon see that there are two sets of rules that apply. Those for Thai people (and their friends – helps if you can speak even a bit of the language as your Thai friend will have to negotiate hard on your behalf!) and those for the farang (round eyed tourists – not a derogatory term, just a description).

I fully agree with Simon on this one. Although I don’t know much about the building trade there, swapping bamboo for steel sounds like a fair thing (given some of the other things I saw there). What we would call corruption in Australia seems to be standard practice and simply a way of life. You would be considered fair game but quite often with no malice intended so long as you went about your business the right way.

Even with a friend there I wouldn’t buy an investment unless she was going to look after all dealings and transactions and get some profit out of the deal herself.

Kind Regards,
Sonja

My fiance is Thai and her mother is buying a lot of land over there and has been for a year or two.

I’m not sure if she is buying to make profits or if she buys to help her family and friends have a place to live.

She is purchasing near Laos.