Freudian Slip In Today's Bangkok Post

[billp]

Tapping the expat rental market

Official figures as of November 2006 showed there were 57,400 expatriates with work permits in the Thai capital, an increase of 10.7% over November 2005. [...]Also, not all live in condoms, with single-owner apartment buildings and serviced apartments putting up stiff competition.

More here.

Edited April 9, 2007 by billp

[raro]

[Jai Dee]

Also, not all live in condoms, with single-owner apartment buildings and serviced apartments putting up stiff competition.

Somehow I suspect that was an intentional slip...

[PanzerJohn]

how stiff is "stiff"?

[quiksilva]

While some people are pessimistic about the outlook for the rental market, research by CBRE shows that the five key districts comprising Bangkok's downtown area _ Silom, central Lumphini, Sukhumvit, Pathum Wan and the riverside _ now have a total of 46,500 condominium units with another 21,000 due for completion over the next three years.

While this may seem substantial, Mr Pitchon says it should be considered in the context of an urban population of between 10 million and 12 million people.

Official figures as of November 2006 showed there were 57,400 expatriates with work permits in the Thai capital, an increase of 10.7% over November 2005. However, not all of these expats live in the downtown area; there are clusters, for example, around the International School of Bangkok (ISB) to the north of the city and Bangkok Pattana School to the east.

Oversupply is a pretty good reason to be pessimistic realitisic.

Thats 10,000 more units than the total amount of expats today, are we really likely to see an additional 10,000 expats come in over the next 3 years...?

Then consider that most of these 21,000 new condos are likely to be looking for a great deal more than 50K / month in rent, but what about the 20,000-40,000 / month group, how many in that segment James? Quite a big chunk I would bet.

Then he admits that not all of these 57,400 expats even rent condos and are not all are even located in the downtown area, these facts vastly reduce the tenant pool for this new supply.

Edited April 10, 2007 by quiksilva

[sbk]

And quicksilva ruins it all by becoming serious. I was looking forward to all sorts of punny jokes on stiffness, condoms and highrises

[larvidchr]

Very expensive condoms

[Thaddeus]

Or as they say around these parts ........... rubbery

[sinom]

so there's an oversupply of expensive rubbery comdoms ???

who's going to fill them all ?

Edited April 16, 2007 by sinom

[Grover]

so there's an oversupply of rubbery comdoms ???

who's going to fill them all ?

who ? ... sheeeth ... they are coming now