buying a house in the area

[1FinickyOne]

I am seeking a nice quiet country location, with about a rai or more of land, setting more important than the house... will look first in Doi Saket area. There seems so much on the market and homes do not move quickly. How much discount might one expect off asking prices? A friend in Phuket was hoping for 8-10MM baht and eventually sold for 6mm.... I know all circumstances are different, but on average, how long does it take to sell a house and how much discount should I be looking for...??

 

Thanks

[Bill97]

There is no known average. No data.


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[LivinLOS]

Some wont discount a baht (in fact I know of multiple cases where they raised the price after the sale was agreed) others like farangs in ill health or people who have to leave may take less than 50% of asking.. 

 

The illiquid nature of country homes etc here makes for wildly different prices... So many times I have seen things unable to sell for almost anything / land value alone, less than build cost.. Other times they sit there not sold raising the price each year.. Thais seem less interested in making a deal and tend to stay closer to the value asked (often dream time values too). 

 

 

Edited February 24, 2018 by LivinLOS

[sanemax]

2 hours ago, kenk24 said:

, how long does it take to sell a house and how much discount should I be looking for...??

13 Months and 18 %

[Thailand]

New houses almost selling off plan,old/ older house almost impossible to move unless giveaway prices.

[pgrahmm]

Houses that were 1.8 - 2.0 m 2 - 3 years ago are now showing from 6 to 8 m now......

Go around and they are sitting there year after year.....Owners are sitting on the prices waiting for stupid/love struck/foreign golden goose/sucker to come along and make their day/life....

[1FinickyOne]

1 hour ago, pgrahmm said:

Houses that were 1.8 - 2.0 m 2 - 3 years ago are now showing from 6 to 8 m now......

Go around and they are sitting there year after year.....Owners are sitting on the prices waiting for stupid/love struck/foreign golden goose/sucker to come along and make their day/life....

but there can't be that many that are selling?? maybe a rare one here and there - 

[CMKiwi]

Those that arent selling are most likely due to the owner asking too much.

 

For some reason Thais don't seem to grasp what is meant by market value. It's probably a western thing.

 

Consequently they tend to hold onto their property forever in the hope some halfwit will offer to buy said property at asking price.  But as has been mentioned before....then said owner renegs and asks for more money if halfwit agrees to original price.

 

Stupid stuff (Well from foreigners view point at least).

 

Its very similar to commercial leasing of properties. If tenant appears to make profit then rent/lease must be increased.

 

 Sometimes to the extent that the people cannot afford the increase.

 

 The owner will not backdown. The building becomes and remains empty with no income to the owner....one cannot lose face by stepping backwards.

 

We as foreigners cannot change this way of thinking. 

 

So it's pretty much hit and miss when negotiating a possibility to purchase at a resonance price.

 

Hey some manage to pull it off and good to them.  But I think you need to really get on your bike and explore the area you are looking at.

 

You may find a bargain by doing so.... and by chance you may also get an owner with realistic views as to value.

 

Gd luck in your search