Condo Glut

[Lacessit]

31 minutes ago, VYCM said:

The freedom of

1.       Painting my property, also the colour I want

2.       Renovating

3.       Improvements

4.       Extensions,

5.       The possibility that the landlord does not renew the lease (this in itself would make me unsettled)

 

The list goes on…………….

 

if you buy in the right location as I have done, selling the property will not be a problem.

 

more to the point, the landlord has the upper hand here with freedom, you're controlled by his decisions, at any time he can evict you - YES, you're out on the street.

 

 

 

I don't know about other areas in Thailand. In Chiang Mai, landlords are falling over themselves to get good tenants into houses and condos. There's a glut of unrented properties. And those that won't sell after several years of listing.

I've been in the same condo apartment for 8 years now. Plenty of vacant rooms to choose from in the same condo. My landlord certainly prefers me to stay.

[bkk6060]

4 hours ago, VYCM said:

The freedom of

1.       Painting my property, also the colour I want

2.       Renovating

3.       Improvements

4.       Extensions,

5.       The possibility that the landlord does not renew the lease (this in itself would make me unsettled)

 

The list goes on…………….

 

if you buy in the right location as I have done, selling the property will not be a problem.

 

more to the point, the landlord has the upper hand here with freedom, you're controlled by his decisions, at any time he can evict you - YES, you're out on the street.

 

Good luck with that...

 

You seem bitter and obviously have very little knowledge on how to negotiate a rental contract.

[Cricky]

45 minutes ago, bkk6060 said:

5 hours ago, VYCM said:

The freedom of

1.       Painting my property, also the colour I want

2.       Renovating

3.       Improvements

4.       Extensions,

5.       The possibility that the landlord does not renew the lease (this in itself would make me unsettled)

 

The list goes on…………….

 

if you buy in the right location as I have done, selling the property will not be a problem.

 

more to the point, the landlord has the upper hand here with freedom, you're controlled by his decisions, at any time he can evict you - YES, you're out on the street.

 

Good luck with that...

 

You seem bitter and obviously have very little knowledge on how to negotiate a rental contract.

tell me more....... Mr. Rental Contract negotiate GURU.

 

I've been a property owner since I was 22yo, 

Let me know what I'm missing out on. 

[mrfaroukh]

I won't be shock if the unsold numbers be more much much more than that. Even those sold are all empty and with new visa regulations more people will also leave.

[Khaeng Mak]

On 2/3/2019 at 9:14 AM, wgdanson said:

1.7M - 150k = 1.55M / 9k+2k = 141 months = 11.5 years. But that's without deducting any maintenance etc charges.

Did the 1.7M include fees and tax for the transfer.

[wgdanson]

3 hours ago, Khaeng Mak said:

Did the 1.7M include fees and tax for the transfer.

How would I know, I did not start the thread.

[bkk6060]

Another big factor now is the exchange rate and people unwilling to lower their price.

Any savy buyer who realizes the glut and no appreciation environment, will make sure to point out that a 2 million b condo you bought a couple of years ago is actually now asking priced less then 1 .8.

But sellers have a mental block of lowering the number.

So, many 1000's of places will just sit sit sit...

[Cricky]

12 minutes ago, bkk6060 said:

Another big factor now is the exchange rate and people unwilling to lower their price.

Any savy buyer who realizes the glut and no appreciation environment, will make sure to point out that a 2 million b condo you bought a couple of years ago is actually now asking priced less then 1 .8.

But sellers have a mental block of lowering the number.

So, many 1000's of places will just sit sit sit...

you seem to know a lot about the Thai real estate market for someone that has never purchased here

 

LOL

 

17 hours ago, VYCM said:

tell me more....... Mr. Rental Contract negotiate GURU.

 

I've been a property owner since I was 22yo, 

Let me know what I'm missing out on.

you don't answer rental questions when asked. 

 

 

[bkk6060]

14 minutes ago, VYCM said:

you seem to know a lot about the Thai real estate market for someone that has never purchased here

 

LOL

 

you don't answer rental questions when asked. 

 

 

Yes, thank you for the compliment.

I have worked in the business before and am educated enough to know the signs and symptoms of a sick real estate market that probably will not show any recovery in my lifetime.

[Destiny1990]

2 hours ago, bkk6060 said:

Another big factor now is the exchange rate and people unwilling to lower their price.

Any savy buyer who realizes the glut and no appreciation environment, will make sure to point out that a 2 million b condo you bought a couple of years ago is actually now asking priced less then 1 .8.

But sellers have a mental block of lowering the number.

So, many 1000's of places will just sit sit sit...

So your budget is 1,8 M Bht?

 

 

[Rimmer]

Off topic baiting post removed

[bkk6060]

19 hours ago, Destiny1990 said:

So your budget is 1,8 M Bht?

 

 

No, my budget would be much higher but why do you ask?

You have such a price range property?

If you paid around 4 million b for it in the past couple of years,  I may take it off your hands. Start at 1.8 and negotiate something a little lower depending on the terms.

Shoot me a PM and we can discuss it.

 

[fforest1]

On 2/5/2019 at 3:39 AM, mrfaroukh said:

I won't be shock if the unsold numbers be more much much more than that. Even those sold are all empty and with new visa regulations more people will also leave.

This is the major key on the condo glut....The Visa......They are working very very hard now tightening up visas making them harder and harder to get and keep...And the forecast is for more of the same...

 

Unless your very well off or have a 20 year elite visa.....Absolutely no should buy a condo in Thailand now......

 

And please dont say I bought my condo 7-10-15 whatever years ago and it has worked out good....The visa situation was much better in the past.... 

 

These are sad times for condo builders/sellers...Many I have no doubt are facing bankruptcy..... 

Edited February 6, 2019 by fforest1

[gk10002000]

On ‎2‎/‎2‎/‎2019 at 9:54 PM, Emdog said:

I bought my little rabbit hole for cash back when exchange was 40baht to the dollar. Now around 32. Made up in what would have been shot in rent plus that exchange rate bonus if I ever sell... or rather, wife sells after I croak.

I almost bought back in 2004/2005.  It would not have been a horrible purchase, assuming I had no nightmare neighbors, nightmare association issues, etc.  But on many of my subsequent trips, where at most I stayed in country typically 30 days at a time and often visited other places, Phuket, Bangkok, Khorat, Ko Samet, etc.  I would not have saved much if any money in the long run.  Now if I stayed in Pattaya two or three months each year, then the purchase would have been OK. In 2004, I million baht would be < $30,000 USD and I could have gotten a reasonable place

[bkk6060]

14 minutes ago, gk10002000 said:

I almost bought back in 2004/2005.  It would not have been a horrible purchase, assuming I had no nightmare neighbors, nightmare association issues, etc.  But on many of my subsequent trips, where at most I stayed in country typically 30 days at a time and often visited other places, Phuket, Bangkok, Khorat, Ko Samet, etc.  I would not have saved much if any money in the long run.  Now if I stayed in Pattaya two or three months each year, then the purchase would have been OK. In 2004, I million baht would be < $30,000 USD and I could have gotten a reasonable place

They are still out there.

I went with my friend who wants to buy and he looked at a new studio in Pratumnak for 999,000 b.  Granted it was small, but everything was new in a newer building.