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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