Unsold Housing Glut in Thailand

[Banana7]

A total of 454,814 residential units across the country were left unsold last year, with a value of US$41 billion, according to Sopon Pornchokchai, president of the Agency for Real Estate Affairs Co.

 

I hear new condo take-up rate now is only 55% and average asking prices are 6% less than last year according to Knight Frank Thailand.

[Peterw42]

There is a thread already running about this.

[alacrity]

Development has been subsidized for a while now to assist the situation of over supply. This exacerbates the problem in the long term. Not a good time to buy.

Quite recently we opted to rationalize our Thai assets and condo's along with apartments have been the only problematic investments.

[geoffbezoz]

Another thread, another opportunity for those TV "I have been in property for decades"experts to deny the facts.

[Jingthing]

Hey, meester.

Come on over here.

(Opens trench coat.)

Wanna buy my Thai condo cheeeeep? 

[alacrity]

22 minutes ago, geoffbezoz said:

Another thread, another opportunity for those TV "I have been in property for decades"experts to deny the facts.

So what are the facts?

Personally I have found that empirical data trumps all.

There's risk and there's outright gambling.

At the moment real estate in many countries is an addicts investment.

Hail Mary's do come in. Occasionally.

Higher ability and mature understanding lessens your need for rash decisions.

[Dumbastheycome]

13 minutes ago, alacrity said:

So what are the facts?

Personally I have found that empirical data trumps all.

There's risk and there's outright gambling.

At the moment real estate in many countries is an addicts investment.

Hail Mary's do come in. Occasionally.

Higher ability and mature understanding lessens your need for rash decisions.

Is that like saying   "vacant space is  sky high " ?

[alacrity]

4 minutes ago, Dumbastheycome said:

Is that like saying   "vacant space is  sky high " ?

Definitely not. There's far too much vacuity. If between the ears it could be a premium though.

[marcusarelus]

11 hours ago, Peterw42 said:

There is a thread already running about this.

Isn't there always a thread running about this?

[NCC1701A]

i flipped houses in California.

 

there is no correlational between western real estate markets and Bizarro World Thailand.

 

None.

[alacrity]

25 minutes ago, NCC1701A said:

i flipped houses in California.

 

there is no correlational between western real estate markets and Bizarro World Thailand.

 

None.

Lots of opportunities while many are leaving.