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 • Still looking? Take the plunge now
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 • Advice to renters: Be proactive
 • Lessons learned from the 1997 crisis
 • The second-hand option
 • Caution and bargaining key in used-home market
 • Phuket leads new boom
 • It pays to do your homework
 • Mortgages the hurdle for foreigners
 
 
 
 
 
It pays to do your homework

Various agencies provide valuable data

Buying a new home or property is a large investment. Therefore, a thorough examination of all information related to the property is needed. Buyers could do their homework in advance to make them smarter buyers.

This year, the government approved the establishment of the Real Estate Information Centre as the national centre gathering information related to the development of the property sector. While the centre is located at the Government Housing Bank (GHB), most of the information it provides can be looked up at its web site.

The web site offers information on property-related indices and links to other government agencies related to land and property development. However, it has not yet finished gathering information on property-related laws.

You can also visit the Government Housing Bank for more information. The state bank has an excellent web site with information on the Thai property market, available property listings and what to look for when purchasing a home, condo or townhouse.

The GHB and other local banks also offer online mortgage calculators that will give you a rough idea on the size of the monthly payment and other financing options based on your budget. Commercial sites such as www.homedd.com, www.silkspan.com and www.homeandi.com offer not only loan calculators, but also comparisons between different loan options currently available in the market.

Information on particular developers can also be found at the main industry associations _ the Thai Real Estate Association, the Housing Business Association and the Thai Condominium Association.

All three associations can help you contact a local developer, check projects under development, as well as give basic data on the property market.

More extensive information on the property market and supply and demand trends can be found at the Agency for Real Estate Affairs, a private company that conducts regular appraisals and valuations for the GHB on the property market.

Buyers looking for recent transactions and valuation prices can also check with the Land Department. At the department's web site, you can check the appraisal value of land in your area or anywhere else nationwide. You can also find the appraisal of your house or condominium.

Alternatively, you can also check with local valuers. Contact the Thai Valuers' Association for information.

Anyone looking to buy or sell a property can often save considerable time by working with a local broker _ the trade body for brokers is the Real Estate Broker Association.

Property listings for auctions can be found at the Legal Execution Department, the state agency responsible for selling foreclosed assets.

Local banks also advertise the most promising properties for sale at their web sites and offices.

Concerned about your rights under the law? Uncertain about particular contractual terms, tax liabilities or legal procedures? Unsure whether a particular developer is reputable or not? The Consumer Protection Board offers extensive services on contracts and maintains databases of past consumer complaints for various property projects.

Real Estate Information Centre: 02-202-1760-1, www.reic.or.th

Bank of Thailand: 02-283-5353

www.bot.or.th

Government Housing Bank: 02-246-0303, www.ghbhomecenter.com

The Lands Department: 02-222-6131-40, www.dol.go.th

The National Housing Authority: 02-377-2010-22, www.nhanet.or.th

The Legal Execution Department: 02-433-6001-5, 433-6007-9, 881-4999, www.led.go.th

The Consumer Protection Board: 02-282-4579, www.ocpb.go.th

The Thai Real Estate Association: 02-229-3188-90, www.thairealestate.org

The Housing Business Association: 02-440-1274-6, www.housingbiz.org

The Thai Condominium Association: 02-260-3592-9

The Real Estate Broker Association: 02-986-5388-9, www.reba.or.th

The Association of Siamese Architects: 02-319-4124, 02-319-6555, 02-719-6292-4, www.asa.or.th

The Thai Contractors' Association: 02-255-3991-2, www.tca.or.th

The Thai Valuers' Association: 02-260-3880-1, www.tva.or.th

Agency for Real Estate Affairs Co: 02-295-2294, www.area.co.th

PropertyLines Co: 02-941-0152-71,

www.propertylines.co.th


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