According to Numbeo Thailand is 7th most expensive place

[theguyfromanotherforum]

to buy real estate.

 

I understand it is the price to income ratio at play here and not the actual price per square meter, but it should tell you a lot about the "money" in this country.

 

 

https://www.numbeo.com/property-investment/rankings_by_country.jsp

[poanoi]

it doesnt tell me anything about the 'money',

but it does tell me that its geared towards those that have already,

money makes money

[manarak]

4 minutes ago, poanoi said:

it doesnt tell me anything about the 'money',

but it does tell me that its geared towards those that have already,

money makes money

it doesn't say anything, because the numbers are totally bogus.

[manarak]

OP,

Quote

Price to Income Ratio is the basic measure for apartment purchase affordability (lower is better). It is generally calculated as the ratio of median apartment prices to median familial disposable income, expressed as years of income (although variations are used also elsewhere). Our formula assumes and uses:

• net disposable family income, as defined as 1.5 * the average net salary (50% is assumed percentage of women in the workforce)
• median apartment size is 90 square meters
• price per square meter (the formula uses) is the average price of square meter in the city center and outside of the city center

this shows that the numbers are totally bogus.

in Switzerland for example, a household would need about 40 to 50 years to pay off a 90 sqm apartment in the center, yet the website says 10 years. totally bogus.

[theguyfromanotherforum]

13 minutes ago, manarak said:

OP,

this shows that the numbers are totally bogus.

in Switzerland for example, a household would need about 40 to 50 years to pay off a 90 sqm apartment in the center, yet the website says 10 years. totally bogus.

 

Please provide evidence except "totally bogus".

 

Remember, these numbers are for the whole country, not the major economic centers/capital cities.

 

I know nothing about Switzerland, but I imagine the price of real estate depends a lot on the region. 

[theguyfromanotherforum]

24 minutes ago, poanoi said:

it doesnt tell me anything about the 'money',

but it does tell me that its geared towards those that have already,

money makes money

 

So, Venezuela being number 1 on the list I guess all the Farang hisos will be jumping the Thai boat and investing in Caracas?

[namatjira]

Can’t understand why Venezuela would be expensive, last I heard they would sell you the whole country for a large sized box of toilet paper and a chicken sandwich....

Edited November 5, 2018 by namatjira

[thailand49]

They should take out the word " Thailand " and replace it with " BangKok"

[KittenKong]

30 minutes ago, namatjira said:

Can’t understand why Venezuela would be expensive, last I heard they would sell you the whole country for a large sized box of toilet paper and a chicken sandwich....

That's the point. In Venezuela a man with a box of toilet paper or a fistful of dollars is king, due to the collapsing currency. Most ordinary people earning a local salary cant even afford to use the toilet, let alone buy paper for it.

[dotpoom]

I find this hard to believe ..property more expensive in any European country alone ..than in Thailand?

PS..My experience ..don't have figures 

[Henryford]

Shows how lucky the Americans are, just 3 years income to buy a home.

[Henryford]

1 hour ago, thailand49 said:

They should take out the word " Thailand " and replace it with " BangKok"

Yes the Thailand figure seems very high. If 1.5 times the average mean income is say 360,000 baht a year that makes the average apartment costing 7.7 million baht. In most of Thailand you could buy 2 nice houses for that.

[manarak]

6 hours ago, theguyfromanotherforum said:

Please provide evidence except "totally bogus".

Remember, these numbers are for the whole country, not the major economic centers/capital cities.

I know nothing about Switzerland, but I imagine the price of real estate depends a lot on the region. 

no, the numbers are not for the whole country - there are numbers for "the center" which means "city center", i.e. large cities. I know real estate markets in large cities of France, Germany and Switzerland and I can tell you that for all three countries the numbers are very far off the mark.

Providing evidence is difficult as it can just be discussed away.

As an example, a 100 sqm Flat in Zürich in one of the peripheral city districts, so not even in the CBD, will cost about 1,5 million CHF !! this with high taxes and ultra-rip-off cost of living !

https://www.homegate.ch/kaufen/immobilien/ort-zuerich/trefferliste?ac=4&ad=5&tab=list&o=sortToplisting-desc

 

another weak point in those numbers is that the "disposable income" does not take into account taxation or cost of living, which leads to abnormally high disposable incomes in western countries.

 

[Krataiboy]

2 hours ago, KittenKong said:

That's the point. In Venezuela a man with a box of toilet paper or a fistful of dollars is king, due to the collapsing currency. Most ordinary people earning a local salary cant even afford to use the toilet, let alone buy paper for it.

You're right. Venezualans have got the sh-ts over state over economy, but they are going bananas because there is not enough toilet paper to go round. Prices on the black market are six times the state-controlled price!

 

 

Gil, a 43-year-old Venezuelan housewife, spent two days looking for toilet paper in this city of 150,000 in the central state of Aragua. She found paper towels and napkins but no toilet paper.

"Call me a counterrevolutionary but there are certain things that are essential and toilet paper is one of them," she says, staring at the bare shelves where toilet tissue used to be stocked at the Morichal supermarket, one of the city's largest. "What do they expect us to use? Banana leaves?" - USA Today

[RichardColeman]

11 hours ago, theguyfromanotherforum said:

I understand it is the price to income ratio at play here and not the actual price per square meter, but it should tell you a lot about the "money" in this country.

Just reflects the Thai banks priorities at throwing money at idiots with little income

[Caine]

1 hour ago, Krataiboy said:

You're right. Venezualans have got the sh-ts over state over economy, but they are going bananas because there is not enough toilet paper to go round. Prices on the black market are six times the state-controlled price!

 

 

Gil, a 43-year-old Venezuelan housewife, spent two days looking for toilet paper in this city of 150,000 in the central state of Aragua. She found paper towels and napkins but no toilet paper.

"Call me a counterrevolutionary but there are certain things that are essential and toilet paper is one of them," she says, staring at the bare shelves where toilet tissue used to be stocked at the Morichal supermarket, one of the city's largest. "What do they expect us to use? Banana leaves?" - USA Today

In days of old when Knights were bold, and paper wasn’t invented, they’d wiped their arse on a telegraph pole, and walked away contented 

[khunPer]

12 hours ago, theguyfromanotherforum said:

...it should tell you a lot about the "money" in this country

It's probably based on average price, so don't tell how it is locally; i.e. buying a condo in the right area of Bangkok – or a sea-view or a beachfront villa on Phuket or Samui – vs. buying property up Isaan, or a small town house outside a major city center.

 

If I compare income and price to my Scandinavian country, which is number 82 in the list – but has less financial inequality that many countries – it's quite alike for plain ordinary people. With a price to income ratio of 7, it would equal a Thai family with a 30,000 baht monthly income, i.e. 360,000 baht a year, that can buy a home for 2,5 million baht. That's indeed possible, you can buy a small town house for less than one million baht, equaling an income around 150,000 baht a year.

 

In my home country the number would be fairly close (after an extremely high income tax), but a different currency, therefore easy to compare. However, the family in my country that has a 2.5 million "money" home option, can only dream about in high-end flat at the right location in the center of the capital, priced from 25 million "money" and up, so it quite same-same numbers, but different currency. However, there might be relative many more, in numbers, of expensive, and extremely expensive, high-end homes in Thailand, than in my home country, which makes up the difference from number 82 in the list, to number 7...????

[Krataiboy]

45 minutes ago, Caine said:

In days of old when Knights were bold, and paper wasn’t invented, they’d wiped their arse on a telegraph pole, and walked away contented 

I recall a different schoolboy version, substituting the word women for paper and recommending drilling holes in telegraph poles for contentment.

[Berkshire]

That chart seems to be more about affordability (locals) rather than actual real estate prices.  It seems to make sense, but with some rather broad strokes.  The USA for example.  There are places in the USA (e.g., San Francisco, New York, Honolulu) which would be unaffordable for most Americans.  But if you include all the rural nowhere places that are fairly cheap, it really skews the data.   

[rickudon]

In Thailand, advertised selling price and actual price can be very different. Here in Udon, a new development in a desirable location is advertising selling prices of between 20 million and 60 million baht. No joke. Not many farangs could afford that .....

[Skeptic7]

We recently purchased some land in "bum-duck nowhere" and I was a bit shocked at the high prices. Asked another couple I know in a different area, whom have much more experience than me, and while they agreed the prices are high...said they were about they same where they live. 

[Airalee]

On 11/4/2018 at 6:17 PM, Henryford said:

Shows how lucky the Americans are, just 3 years income to buy a home.

But that includes places like Detroit where the median home price is only $41,500.