Yes, Im concerned as well - Im not actually sure I trust whether 15 people have converted - how can we after what has happened.
I think its a awful compromise, like you - we had a 3 bed villa - with an excellent layout, good wrap around balcony - it had gone up in value - I saw them advertised at £257k - and having bought it under £200k, that was a great increase which is lost. The propositions dont stack up - 3 bed villa, infinity pool - unlimited use as required - versus 2 bed flat, 28 days a year use - 60% of rental going to the managing agents - and no infinity pool - oh - and here's the gem - at nearly double the price! Most people were top of their investment level buying this - to double the price it too risky for a lot of people, and a mortgage at over 9%! also its not the investment they wanted - so this, or maybe get some of your money back isnt good enough.
I asked so many times for an escrow account to protect the funds - the least we can have is a full refund of our money at current THB rates - i.e we'd gain the 20% currency exchange. It seem like they arn't really acting for the investor - but for the developer - they didn't protect our investment, haven't arranged a good solution - or anything comparable - if we could trasfer to say bophut or another villa at a similar or lower price, that might be acceptable.
It should be standard, that if investors do a large scale project via and english agent, that this agent protects the funds invested.
Jerk me around for over a year on a project - then in return dont allow me 4 weeks to go and visit, take a look, and make an assessment. ? Anyway - enough venting.. Himmapan - well , it looks ok, but lets see what turns up. Its not something I would have bought into - seems overpriced - and when a developer offers a gauranteed net return for 2 years, usually means they have that included in an inflated price.
