No Asian city ranks among the top ten most expensive cities for expatriates in the world in the latest survey conducted by London-based consultancy firm ECA International.
Caracas, Venezuela, which zooms 31 places from last year’s 32nd place ranking, tops the current Cost of Living index, followed by Oslo, Norway and Luanda, Angola, which are in second and third places, respectively.
The crime-ridden Venezuelan city’s high position was due to high inflation rate and the official exchange rate at VEF6.30 to USD1.00, making its cost of living 40 percent higher than in the runner-up city. Consumer prices also soared 59 percent in Venezuela, Bloomberg reported.
The world’s smartest city per the Cities in Motion Index, Tokyo still ranks as the most expensive city for expatriates in Asia despite dropping out of the top ten in ECA’s report. Now in 11th place overall, the Japanese city leads Seoul, Shanghai, Beijing, Nagoya, Yokohama, Osaka, Hong Kong, Singapore and Guangzhou, in the Asian top ten.
Hong Kong currently ranks 29th worldwide in the annual ECA survey and overtakes Singapore, which was recently named the world’s priciest city in another survey released by the Economist Intelligence Unit (EIU).
The EUI ranking was determined based on prices of services and products in comparison with New York City’s cost of living. Jon Copestake, a retail and consumer goods analyst at EIU, told The Wall Street Journal this week that it was normal for survey findings to give varying results.
Singapore prices in the last 12 months increased by 2.3 percent, which is a “relatively low rise”, according to the latest ECA report.
“While price increases of items in our basket are now just over 2 percent in Singapore, this is still a long way off the 6 percent increases we observed a couple of years ago,” Lee Quane, regional director for Asia at ECA International, told Singapore-based Channel News Asia.
Chinese cities such as Shanghai and Beijing, meanwhile, surge into the top 20 overall as the cost of living for expats in China increased despite the slight slowdown of the Chinese currency against the euro and British pound.
A condo or a house? Are you making the right choice?
Questions will consume you constantly as to whether you made the right decision. You will question your decision as to the location, your preferred life style and your previous times spent in this beautiful tropical country; “The Land Of Smiles”.
You must assure when choosing a condo for sale in Pattaya that they satisfy all your needs, whether it be for the purpose of a vacation home for you and your family or a rental investment.
CONDOMINIUM PROJECTS are spread throughout Pattaya.
Naklua and Wongamat which are located North of Pattaya’s Central District area.
From the Dusit Hotel travelling the entire length along Beach Road to Bali High Pier.
From Bali High Pier travelling up Thappraya Road North to Pratumnak Hill & Cozy Beach.
Thappraya Road South through to Jomtien.
Pattaya’s property development has seen rapid growth over the past few years with massive projects expanding into areas from Na Jomtien to locations South of Jomtien such as Ban Amphur and Bang Saray.
Frank Satar believes there are many important factors to take into consideration when purchasing a Condo for sale in Pattaya Thailand.
Firstly there are many different projects that offer their own individual marketing points, so take your time and do an extensive search of the projects special features.
Location; Beach Resort, Mountainside, Countryside or City should be taken into account.
Parking, Public Transportation such as Bus Routes and the availability of Taxis is of upmost importance.
Maintenance and Building Services & all the fees involved.
Low Rise (eight storeys) versus High Rise Condominiums.
All the above are major factors in making your final decision so a thorough investigation should be undertaken.
The Sinking Fund as it is referred to is a one of payment paid by the original buyer.
The Annual Maintenance Fund covers the day to day maintenance and includes staff costs.
Electric and Water costs should be confirmed as many condos will increase the fee marginally to cover reading and billing costs.
Take your time as your decisions will reflect on your future and well being.
With a condo the purchaser gets more locations to choose from. Many of the condominiums available in Pattaya come with beautiful sea views that one always dreams about.
The security advantages of purchasing a condo in Pattaya seem to prove more reliable for many buyers as they have personal key entry to foyers and CCTV covering all floors and common grounds.
Maintenance is covered in all areas including swimming pool and garbage disposal.
Purchasing a house your dollar goes a lot further; gardens, private pools, surrounding walls, personal parking and maybe an electric gate for the driveway as an option.
Houses can be purchased in the locations stated above but a majority of the housing complexes are to the Eastern side of Sukhumvit Highway. There are also many beautiful house villa’s for sale in Silver lake and the lush surroundings.
Housing complexes or Moo Bahns in Thai, are enclosed properties with security guards at the entrances with added monthly costs to support this service as well as a garbage collection service and the cleaning of the communal pool.
A village based property or a single property is another very important decision you will have to make to suit you and/or your family’s requirements.
A personal pool would be nice, with a single property/villa this is possible but maintenance issues are left to your own expense (relatively inexpensive in Thailand).
If your decision is to purchase a villa off plan more options are available, such as construction materials and the finish design you are after.
With the many increases to the costs of project developments, rising land prices and the increasing demand for higher wages, now is the time to make that property investment you have always dreamed about. Increases in all construction and manufacturing costs will continue to increase so don’t delay making that important decision.
Your FUTURE is in your hands. Make it our to guide you through to the next level.
With retirement ages being pushed up in numerous nations individuals tend to need a great deal of courage to begin their life in an exotic retirement haven such as Thailand or any other similar nation. A large number of Americans will need to keep working past the age of 65 however not by decision, they essentially need to pay their bills.
Choices are in plenitude for the individuals who still wish to live abroad, however the key elements for most individuals are the average cost for basic items, great climate conditions, great spirit of the locals, traditions and society of the local people.
Frank Satar states the result is to “Be overcome, abandon the past and head into your future. Now is the right time to explore your options and Live the Dream”!
Thailand Is The Best Option: WHY?
Well Thailand has a government with an efficient methodology towards issues which always gets the job done. Roadways, motorways and tollways have sprung up everywhere throughout the region connecting North to South and East to West for easy travel. Another International airport thats up there with the best in the world, many new residential developments that cater for everyone’s needs, significant world class shopping plazas and complexes springing up everywhere throughout the nation, 4G web all around the nation, sky trains and trams for convenient travel around the city, also the many current schools and colleges.
What’s more the Thai individuals have cash in to use despite the false poor image given to Thai nationals internationally.
Frank Satar says, “Thailand is a thriving country with each one appreciating every last bit of its numerous present day extravagances & luxuries that a large portion of us have constantly underestimated”.
These are simply a couple of the reasons outsiders are running to Thailand to experience surgery and operations of all kind.
With state of the world standard medicinal equipment and no holding up period its not difficult to see why Thailand has turned into the medical Mecca of the world.
Whether it is Plastic Surgery, Organ Surgery, for example, Heart, Kidney, Liver and so forth, Breast Augmentation and considerably Gender Transformations, Thailand is the spot.
Don’t be denied the restorative medication you are looking for, after all your wellbeing is the most essential thing and everybody ought to have the capacity to bear to be solid. What ever you need you can most probably find it in Thailand.
Most individuals are creatures of habit and get acclimated to their surroundings. Thailand is simple for any individual to climates to and you can enjoy every luxury of home that this excellent outlandish nation brings to the table and all in an exceptionally liberal culture.
Thailand is a nation of numerous distinctive qualities and fit for making everybody feel at home. You can encounter shopping centers with brand name stores from everywhere throughout the world. Restaurants with worldwide menus to fulfill any nationality yet most aim to get the conventional Thai food.
With a huge number of restaurants and road sellers Thai food is abundant as well as exceptionally hygienic and nutritious as Thais are clean and the majority of this at the most sensible of costs. You can even eat for as little as $2 per meal and still walk away with your senses very much satisfied and asking for more.
Cafes and international food chains have sprung up everywhere throughout the nation so what ever your taste bud wishes for Thailand has. Coffee and bakeries are accessible in high-end espresso joints, for example, Starbucks or you can discover neighborhood cafes with less costly yet extraordinary quality local coffee that they have crisply developed.
Multi story shopping centers are in abundance and cater for the most meticulous of purchasers or in the event that you’d like to enjoy the local made products you will discover completely supplied commercial centers on pretty much every corner and they are open until late.
Most business locale in Thailand are open from 10am to 11pm so after you have reveled in a great rest in there’s still a lot of time for shopping.
For motion picture buffs never fear, Thailand has the most current multi story film buildings with the most recent films demonstrated before most Western nations.
Frank Satar: “Thailand is not alone, there are numerous different nations that can offer comparable enjoyable lives yet for general security, relaxation, energy, living standards and stimulations Thailand is a winner”. “Thais welcome all outsiders with a grin and open arms, something we could all gain from”.
Frank Satar: ”The moment your plane touches the landing strip at Suvarnabhumi International Airport you are changed into an alternate state of psyche”. “The smell, the Thai customary greeting & respecting, the feeling of undertaking and sentiment all add to the energizing air that will encompass you and stay with you whilst you stay in this extraordinary nation”.
Thailand is generally a Buddhist nation however paying little attention to your religion or convictions you will be welcomed into their traditions and society with truly no hostility towards you or your family, different to numerous modern countries where racism is at a high.
enjoy a prosperous lifestyle in a nation where the average cost for basic items drives your money a great deal further.
Extremely affordable commodities, for example, property, food, entertainment, gas, dining in restaurants and a lot more will have you living the life that you always dreamed off.
Those lucky enough to visit this genuinely extraordinary nation sadly encounter difficulties once returning home. They miss all the sensible characteristics Thailand brings to the table, in the same way as how inviting each one is, the social gauges where no one is an outsider and the openness in discussions and connections. Everything in Thailand appeares to be a great deal more than what us westerners are used to.
Despite the fact that Thailand can not be delegated shoddy you will soon recognize the distinction as Europe, Australia and America have ended up so excessively costly.
The intriguing, fast food that would fulfill the most exacting of palates will leave you longing for more and the neighborly administration that works out easily with all restaurants and road sellers much the same will abandon you needing to bear the cost of the staff a sensible tip.
ASEAN stands for Association of Southeast Asian Nations which is a collaboration of 10 countries in Asia.
It was established in 1967 and the charter of the association was published in 2008.
Since its formation the organization has always looked upon the need of the member countries in field of real estate, loans and services of strategic importance.
It also provides a platform to all the member countries to ensure that disputes are settled in a peaceful manner and the peace in the region is maintained.
Thailand is a menber of ASEAN and Thailand’s real estate and property market is considered one of the major business sectors in the kingdom, hence many, not to say most, people in the real estate sector hold their breath awaiting the impact the Asean Economic Community (AEC) will have on Thailand’s real estate market.
The property market is undoubtedly expected to go up with the birth of the Asean Economic Community in 2015.
The property market is categorized into 5 sectors; industrial, residential, commercial, hospitality and retail.
However, when the property market is discussed, the perception in the minds of most people is the residential market.
The impact of the Asean Economic Community (AEC) on Real Estate development in Thailand.
If we therefore take a look at the impact that the Asean Economic Community (AEC) in 2015 will have on the property market, there most certainly will be a huge impact on all sectors of the real estate including transportation and logistics.
Thailand being at the center of the many AEC member countries will definitely have a larger distribution network.
The construction of sufficient residential estates to provide the new investors with housing will also be commenced.
This may make the public anxious at first that there will be an oversupply of condominiums; however, this oversupply will afterwards be met by demand once the AEC is executed.
The AEC is set for the introduction of a single market and a production base through the free flow of goods, services, infrastructure, capital and skilled labor in all he AEC member countries.
This will have a positive impact on real estate because by simply looking at the impact that free trade common markets have on the development of larger economies, for example America, one can conclude that introduction of the AEC will positively impact development in Thailand.
Thailand’s low cost of living, solid human resource and its strategic position to the rest of the world will attract a lot of companies and investors to either expand or base their businesses in Thailand.
The immediate impact of this revolution will be an increase in demand for both commercial and factory spaces throughout the country.
A substantial increase in demand for real estate to offer both shelter and working premises in Bangkok, its surrounding holiday beach towns and the Eastern seaboard will also be realized.
This is because the staff from multinational companies will need housing that matches their standards.
Since the AEC will open up Thailand to all investors in the Asian region, higher standards of property management will be applied.
The AEC will definitely lead to an influx in the number of savvy new executives who will desire to live the best kind of lifestyle that money can offer.
This means that the buildings that will have the highest levels of management and a sense of community will have the highest executive demand.
Management that ensures that their buildings do not overflow with people on one hand and are not empty on the other hand, with units that sit vacant, will definitely win the favor of the executive staff.
The only way that the above can be perfectly implemented, will be by ensuring that the people who live in these buildings are the owners.
Where residents are the owners of the building, they will not only ensure that the building is used for its intended purpose, but also comment on what they feel is wrongly done.
This is because the building is not just an investment that they have made, but will also be their home in Thailand.
This is what has led to the high quality maintenance of buildings such as the Saladaeng and Ficus lane residences in Thailand.
Now we figure that the ASEAN member countries will try to pressurize the Thai government to liberalize the foreign property ownership laws preventing foreigners from owning land in Thailand.
When the AEC will be fully implemented, investors in Thailand will also be interested in expanding their property markets to other countries.
For example, the opening of Myanmar’s economy has recently been attracting more investors.
Thailand investors may also not hesitate to expand their investments to other countries.
Investors from Thailand may be interested in either purchasing already built homes or acquiring land to develop property.
Thai investors have actually been seen purchasing UK and other foreign real estate properties.
Thailand’s luxury development organizations such as PACE, have also begun maintaining high standards in the area of property development.
This is in a bid to attract more foreign investors and tourists into Thailand’s open market.
There is no doubt that if Thailand liberalize the land ownership laws, then Thailand’s tourism sector will see an upwards explosion and realize they should’ve done this ages ago.
As discussed, it is beyond reasonable doubt that Thailand’s real estate market will grow magnanimously after the full execution of the AEC on the 31st of December 2015 and investors are expected to flock here in droves to invest their hard earned money – especially if and/or when they can own land in their own name.
If you are already familiar with the Thai property market or you have previously looked into buying a house in the Land of Smiles, you will no doubt have come across information with regards to foreigners owning property in Thailand.
It is true that there are a number of restrictions in place with regards foreign land ownership and whilst at first these restrictions may seem a little off putting for some people, generally speaking, buying or investing in property is as realistic in Thailand as it is in other popular overseas destinations.
Figures released in October 2013 by the Board of Investment state that Thailand is attracting record numbers of international investors. In addition to this, its foreign real estate market in areas such as Bangkok, Hua Hin, Pattaya and Chiang Mai is thriving, as is the tourism sector across the country, with record numbers of tourists arriving in Thailand in 2012.
If you are thinking of buying a house or condo in Thailand then as always, make sure you properly research not only the property itself but also try to get an understanding of the legal aspect involved.
Don’t be put off by what at first sight may seem like a legal minefield.
Let’s face it, plenty of foreigners have successfully managed to invest in the property market in Thailand, without any problems.
What are the restrictions on foreigners owning property in Thailand?
Previously, apart a few very minor exceptions, foreigners were unable to legally buy a house, condo or any other kind of property or land in Thailand. However, from 1997 onwards, Thailand has relaxed its laws on foreigners owning property in the country.
Today, some restrictions still remain in place but it is now much easier for foreigners to purchase property, as Thailand’s ever expanding foreign property market shows.
In nearly all situations, foreigners are unable to own land in Thailand directly, although foreigners can take out a legally registered lease in their own name that offers them security throughout the duration of the lease. With regards to property ownership, the good news is that foreigners can own property in Thailand completely in their own name, without any restrictions whatsoever.
With regards to condominiums, foreigners can buy a condo freehold without restrictions, and indeed this is a popular option for many expats, but only in a building where more than 51% of the total number of units are Thai owned, otherwise a foreigner can only buy the leasehold.
There are a number of ways around the restrictions currently in place for foreigners owning property in Thailand.
A previously popular method involved setting up a joint venture with a Thai entity, in the form of a Thai Limited Liability Company. Under Thai law, the Thai national would need to be the majority shareholder. An agreement would then be put in place that would result in the Thai entity handing over complete power of attorney to the foreign partner, which would then provide them with a significant degree of security in the venture, and in turn in the ownership of the property.
The owners of the joint venture would then be required to complete a tax return and pay a small amount of administrative fees and taxation each year.
However, using nominee shareholders and creating joint ventures for the sole purpose of owning property is now illegal in Thailand and in recent years the authorities in Thailand have started taking steps to try and stop this kind of practice.
Another and all together more favorable, hassle free and the recommended way for foreigners to own property in Thailand is to go down the route of opting for a long term lease, which is automatically renewable. Whilst this practice doesn’t obviously secure title ownership, long term leaseholds are incredibly common with foreigners buying property in Thailand and are also very secure.
Long term leaseholds are commonly used when purchasing property in a modern residential development in Thailand. Whilst the terms of such agreement will vary from one development or property to another, typically an initial leasehold will be taken out for a period of 30 years. Further leases could then be agreed with the land owner but these may not be enforceable under Thai law.
For many expats, Thailand still represents an attractive location in which to buy a house or condo. As mentioned, the property market in Thailand continues to grow, as does the its booming tourism industry.
If you are still unsure of the restrictions with regards to land ownership or would like more information on foreigners owning property in Thailand then you should seek independent legal advice from a reputable professional who has extensive expertise and knowledge in this area.