Korean Job Discussion Forums

europe2seoul · Joined: 12 Sep 2005 Location: Seoul, Korea

I noticed some posters on the board say they have property in Thailand or Philiphines?

I am thinking about investing, and I was wondering how much money they usually run for? What is the best way to buy them without getting screwed about the price or legal issues? And if there are any legal issues?

Since I live in Korea I was thinking to buy some land (zoned for construction) to and few years later build myself some nice small cottage in Gangwon-do or Jeolla-do near the seaside, but I heard its difficult for foreigners to have property in Korea on their name, etc. Also, I think Thailand/Philiphines is cheaper than Korea and climate is better. Was thinking also about Japan in north Hokkaido.

Basically, some nice spot for a vacation house for either skiing or enjoying water activities or both.

Any info about how to go about properties in those countries and money needed?

jaganath69 · Joined: 17 Jul 2003

Beware the pitfalls in Thailand, foreign investors are being stiffed by the government monthly and with the junta in place, the guarantee of a rule of law is even less than it was under Thaksin and his shady cronies.

MissSeoul · Joined: 25 Oct 2006 Location: Somewhere in America

In Phillippine, foreigners can own houses, but not land.
As some of you may know, many old korean retire in Phillippine.
If any korean pay between $ 35,000 - $ 50,000 ( depend on their age ) to Phillippne government, they can live in Phillippine as long as they want and they have same right like Phillippinoes except voting right and OWNING LAND. I guess they are afraid if Korean buy a half of their country Rolling Eyes

Boodleheimer · Posted: Sat Dec 30, 2006 11:13 pm Post subject:

MissSeoul · Joined: 25 Oct 2006 Location: Somewhere in America

JongnoGuru · Joined: 25 May 2004 Location: peeing on your doorstep

mrd · Joined: 02 Nov 2006 Location: fluorescent-filled paradise

Non-Thai people cannot own property in Thailand.

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

JZer · Joined: 13 Jan 2005 Location: South Korea

poet13 · Posted: Sun Dec 31, 2006 6:33 am Post subject:

I have a bit in the Philippines, 500 acres. it's in the south, so it was super cheap. My wifes family works it, coconut mango and rice, so there shouldnt be a problem with squatters. I could not but it myself, it was first in my wifes name, then my sons.

Ilsanman · Joined: 15 Aug 2003 Location: Bucheon, Korea

My wife and I were looking into investing about 10 grand to buy a sizeable piece of land in Gang won do.

My wife's grandfather worked in real estate for years, and he told me not to bother.

The biggest reason is that there are lots of con artists that sell land with fake deeds, and it's really hard and inconvenient to find out if one person is a con artist or not.

But if you want to try, it might work. But even if some government official told me that the given person was legit, I don't triust those incompetent idiots to tell me correctly.

poet13 · Posted: Sun Dec 31, 2006 6:46 am Post subject:

i think getting clear title is the hardest part of it over here....at least it was in the philippines. The first place looked good until they couldn't provide clear title, but worse, they tried to provide paperwork (tax receipts and stuff) that LOOKED good, but in reality, didn't mean anything. About 10% of the purchase price of my property was on lawyers getting title. But it's clear. I can rest easy on that at least.

qcat79 · Joined: 18 Aug 2006 Location: ROK

just buy some land in india. that's what i'm going to do when i retire (or invest). it's super cheap (especially in the countryside) and it's economy is blazing.

europe2seoul · Joined: 12 Sep 2005 Location: Seoul, Korea

endofthewor1d · Joined: 01 Apr 2003 Location: the end of the wor1d.

i'd like to keep this thread alive, as well as take it off track... just a bit. i'm looking to buy a bit of commercial real estate (somewhere in the range of 20-40 pyeong) to convert into my bar. i'd like to hear anyone's experiences in buying commercial property here.