Transcript of the above video: 

As the title of this video suggests, we are discussing condominiums in Thailand specifically in the context of mortgages. I thought of making this video after reading a recent article in the Bangkok Post, bangkokpost.com, the article is titled: No condo market recovery until 2027. Quoting directly: "The greatest challenge for developers is buyers' inability to secure mortgages," Quoting further: "Banks now assess not only individual applicants, but also their employers' financial performance and even the repayment records of colleagues who are also Bank customers."

Yeah, banking is just getting increasingly persnickety, I mean just detail oriented, the scrutiny associated with it is substantial. For those who are unaware, it sometimes possible for foreign nationals to get mortgages here in Thailand. For those who are further unaware, there are restrictions on foreign nationals in owning real estate in Thailand, mainly land, but there is a specific exemption for foreigners owning real estate when it comes to condominiums. The Thai Condominium Act does allow foreign nationals to own a condo in what is called Freehold or what we would call in the Common Law vernacular Fee Simple Absolute. In Thai it's called Chanote Title. That is possible. But as noted, look trying to get a mortgage already for a foreigner is bit of an uphill battle. As we have noted in other videos, it's not going to be structured in the same way as a mortgage would be in another jurisdiction, most notably they tend to want to see 50% down payment associated with a mortgage here in Thailand, so there's that to keep in mind. But that said, and the thing to take away from this video is on top of that, there's even further scrutiny now being applied across the board not just to foreigners, this pertains to Thai nationals as well, and obtaining a mortgage may be more difficult.

As you may be able to surmise, banking generally here in Thailand is not the picnic it once was. I don't think there's any good reason for this and unfortunately, I think Thailand has come under the what I can only just describe as the undue influence of certain foreign entities - supranational or otherwise - most notably the OECD. That said, again it may be having some impact over the mortgage sector, or this may just be a byproduct of the fact that due to the economy, Banks may feel like they need to further scrutinize prospective predators basically. 

That said, it remains to be seen exactly how this plays out, so we will certainly be keeping people updated on this channel as the situation evolves.