Oversupply In Upper And Middle Condo Markets

[junkofdavid2]

YES, THE REAL ESTATE GLUT IS COMING.

Solution?

Bring back the INVESTMENT VISA.

I was actually thinking of buying a condo real soon to rid myself of the hassles of my Type B visa...

BUT NO, NOT ANYMORE.

Why?

No more investment visa which is a huge benefit to many foreigners.

(Nope, it's not true that the investment visa was upped from 3 Million to 10 Million... i clarified it with Sunbelt. That didn't push through. There is simply no investment visa right now. Besides, I couldn't afford 10 Million anyway. To try and save the Real Estate market from the soon to come crash, they should bring back the 3 Million Investment visa. Or okay... even 4 Million to adjust for inflation.)

Edited March 29, 2007 by junkofdavid2

[LoveDaBlues]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

[stevieff]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

[LoveDaBlues]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

The wages are the norm for this area. The father-in-law won't accept more as the home/land is in his daughter's name; he's very happy for her. My friend (unknow to father-in-law) is going to buy him a new motorbike (as his current one is old and crappy) once the final touches are put on the house.

BTW, my friend just last year paid for the land/materials/labor and built his in-laws a brand new house. The father-in-law supervised this project at no wages for obvious reasons.

You're the piece of work; get your head out of your neather regions. Let me guess.....another farang 'expert' that doesn't even live in Thailand full-time.

I only stated the wages to begin with so others will have an idea of what the house builders are getting in the Udon Thani area.

[chownah]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

Stevieff,

You are truly a piece of work. The rates he is paying are pretty much the standard rural village rates for workers. Your post is just underscoring his remarks about how westerners often pay too much to have work done. I pay skilled workers 170 baht per day and unskilled 150 baht per day...I'm the supervisor but if I had to hire one I could probably get one for 200 baht per day so 250 would be a bit on the generous side so he probably could cut his father in laws wage.

Chownah

[CarlBkk]

Amazing how there are so many newspaper reports claiming that the "middle and top end condo market is saturated" when Raimon Land have just launched The River development. Incredibly expensive units. Opening day saw 100 get snapped up by wealthy Thai buyers...I can't help but think it's all for show. Are they really using their brains here?

[gummy]

Amazing how there are so many newspaper reports claiming that the "middle and top end condo market is saturated" when Raimon Land have just launched The River development. Incredibly expensive units. Opening day saw 100 get snapped up by wealthy Thai buyers...I can't help but think it's all for show. Are they really using their brains here?

Yes I was there on opening day and not surprised as it is all about location, same everywhere in the world. The same thing happened when Docklands re-development in London started in 1983. Many people thought I was stupid to pay £ 182,000 for an apartment in St Kathrines Dock, a "run down" old warehouse area as it was then. Also advised to sell as the "crash" was perceived to be coming in 1991. Again it is all about location. Now those apartments are selling at 800k to 1.4 million but the rental at £4300 per month is quite good don't you think? Riverside I have no doubt will be a similarly good investment also owing to its almost unique location.

Edited March 30, 2007 by gummy

[LoveDaBlues]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

Stevieff,

You are truly a piece of work. The rates he is paying are pretty much the standard rural village rates for workers. Your post is just underscoring his remarks about how westerners often pay too much to have work done. I pay skilled workers 170 baht per day and unskilled 150 baht per day...I'm the supervisor but if I had to hire one I could probably get one for 200 baht per day so 250 would be a bit on the generous side so he probably could cut his father in laws wage.

Chownah

Exactly Chownah. And the workers in the rural areas are happy to get the work. Beats cutting sugar cane for one-fifteenth of a baht per cane.

[ZZZ]

Amazing how there are so many newspaper reports claiming that the "middle and top end condo market is saturated" when Raimon Land have just launched The River development. Incredibly expensive units. Opening day saw 100 get snapped up by wealthy Thai buyers...I can't help but think it's all for show. Are they really using their brains here?

Raimond Land operates in the silly market, this is not yet saturated.

[sunshine13]

This thread is ridiculous. Let me explain real estate: prices are always rising. Wheather or not the prices fall slighty over the next few years, or whether they stay stagnant, or wheather they continue to rise - long term, the prices will continue to increase.

So, if you see a home that you like, and plan to live there for a long period of time - then dont worry about trying to time the market. I am 100% sure that you can do a search of Thai Visa and find threads from years ago from so called experts touting figures and psuedo analysis about why there is going to be a crash.

As for buying a condo in Thailand as an investment - that sounds like a bad idea. First off, you cannot borrow from the bank. Are you really going to make more then the 7-10% anually that you could get in the markets? Good luck trying to sell it later on, because Thais only want to buy something new!

If you are buying for an investment. Here is what you want: Studio apartment next to the BTS.

end of thread.

[stevieff]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there hat any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

Stevieff,

You are truly a piece of work. The rates he is paying are pretty much the standard rural village rates for workers. Your post is just underscoring his remarks about how westerners often pay too much to have work done. I pay skilled workers 170 baht per day and unskilled 150 baht per day...I'm the supervisor but if I had to hire one I could probably get one for 200 baht per day so 250 would be a bit on the generous side so he probably could cut his father in laws wage.

Chownah

The message obviously flew over your head. My thai wife and I own many projects in the province of Sakeo. I am biitacutely aware of "prevailing" wages. We always pay higher than "standard rural village rates". Why? Because we have a social and moral conciousness. We understand that paying those type of will never allow the worker to A}Educate his children, Own a house and and land, and C} Ever dream that tomorrow will be better than today. Those type of wages will, of course, insure your maximum profitability. So let's discuss who's the real piece of work, shall we, Chownah?

[chownah]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there hat any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

Stevieff,

You are truly a piece of work. The rates he is paying are pretty much the standard rural village rates for workers. Your post is just underscoring his remarks about how westerners often pay too much to have work done. I pay skilled workers 170 baht per day and unskilled 150 baht per day...I'm the supervisor but if I had to hire one I could probably get one for 200 baht per day so 250 would be a bit on the generous side so he probably could cut his father in laws wage.

Chownah

The message obviously flew over your head. My thai wife and I own many projects in the province of Sakeo. I am biitacutely aware of "prevailing" wages. We always pay higher than "standard rural village rates". Why? Because we have a social and moral conciousness. We understand that paying those type of will never allow the worker to A}Educate his children, Own a house and and land, and C} Ever dream that tomorrow will be better than today. Those type of wages will, of course, insure your maximum profitability. So let's discuss who's the real piece of work, shall we, Chownah?

Sure, I don't mind discussing this at all. Of the three workers I have hired for a year or more at a time two have sent their children through University (one has children but they aren't old enough to go yet...but they will), they all own their own house and land, and they all don't have to dream about their lives improving because their lives are slowly getting better...at least getting better within the realm of physical goods...better motorcycles, tv's, karaokes, home improvements, etc. Maybe you are not aware that frugal people can have great lives on small wages especially when the wroking conditions mesh well with their culture and life styles. My current ongoing worker likes the fact that he works for me because it allows him to stay close to home so he can tend to his cows everyday and thus make some extra cash...and I don't complain when he walks off during the work day to water or move them. You see, many Thai people know that enough cash is enough and after you get enough then the best thing is to develop the right life style which is what a good life is all about afterall.

If I paid more than the prevailing wage people would probably think I was even richer than they do now and this would put more distance between them and me....I'm not here to be their "savior".....to lift them out of their dire poverty....because they might not have alot of money but they are not poor.

Chownah

[Beavis and Butthead]

I know an English guy who built a beautiful house in Udon after he married a good girl (bank teller). within a year the marriage went for naught. See if you can guess who kept the house

[stevieff]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there hat any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

Stevieff,

You are truly a piece of work. The rates he is paying are pretty much the standard rural village rates for workers. Your post is just underscoring his remarks about how westerners often pay too much to have work done. I pay skilled workers 170 baht per day and unskilled 150 baht per day...I'm the supervisor but if I had to hire one I could probably get one for 200 baht per day so 250 would be a bit on the generous side so he probably could cut his father in laws wage.

Chownah

The message obviously flew over your head. My thai wife and I own many projects in the province of Sakeo. I am biitacutely aware of "prevailing" wages. We always pay higher than "standard rural village rates". Why? Because we have a social and moral conciousness. We understand that paying those type of will never allow the worker to A}Educate his children, Own a house and and land, and C} Ever dream that tomorrow will be better than today. Those type of wages will, of course, insure your maximum profitability. So let's discuss who's the real piece of work, shall we, Chownah?

Sure, I don't mind discussing this at all. Of the three workers I have hired for a year or more at a time two have sent their children through University (one has children but they aren't old enough to go yet...but they will), they all own their own house and land, and they all don't have to dream about their lives improving because their lives are slowly getting better...at least getting better within the realm of physical goods...better motorcycles, tv's, karaokes, home improvements, etc. Maybe you are not aware that frugal people can have great lives on small wages especially when the wroking conditions mesh well with their culture and life styles. My current ongoing worker likes the fact that he works for me because it allows him to stay close to home so he can tend to his cows everyday and thus make some extra cash...and I don't complain when he walks off during the work day to water or move them. You see, many Thai people know that enough cash is enough and after you get enough then the best thing is to develop the right life style which is what a good life is all about afterall.

If I paid more than the prevailing wage people would probably think I was even richer than they do now and this would put more distance between them and me....I'm not here to be their "savior".....to lift them out of their dire poverty....because they might not have alot of money but they are not poor.

Chownah

Yes, I'm quite sure all of this is possible on the measly 150 baht you pay a day. Give me a break, pal.

[stevieff]

Is this in Thailand? Sounds like San Francisco. Over 2M USD

I just got a quote to build a 304 sq. meter home with the highest quality throughout; granite interior/exterior, super-block, etc. etc. for 2.9M and I think the price is too high. This is Thailand; what are people thinking? Are they thinking?

So you can get a top quality home for less than 10K baht per sqm? where is this?

TH

Udon Thani. Super block at a cost of only 20K baht more than using the grade A brick. I've been watching home/building prices here closely over the past year. My home is actually priced a little high; normally you can get a pretty decent home for around 7,400 baht per sqm. I wanted the best in concrete, cement, rebar, etc. and also in the 'finish' items. BTW, I'm going with the pilings driven into the ground (25 required). Electrical will be standard US.

The builder gave me what I initally asked for, the highest quality materials throughout. However, from his materials list I find many areas to save money just by shopping around. He just went to one source to price everything as it's quite time consuming. Example: 6,000 baht toilets when I've found nice quality for 2,000. I'm sure I can find granite cheaper than he's quoted on the materials list. Nice mirrors for the bathrooms at 950 baht when he quoted 1500, etc. etc.

A farang friend here in my village is having his father-in-law (a builder) build a house for him. It's 90% complete. The final price is 1M baht for 136 sqm. The father-in-law only making 250 baht a day to supervise the job. The other workers making 150 baht a day. I don't personally like the floor plan but the house is nice.

I'll just keep laughing at the people who come here, don't do their homework, and pay close to Western prices for houses here........SOMEONE is making a killing!

Now........if only the baht will weaken.........one can only hope.

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there hat any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

Stevieff,

You are truly a piece of work. The rates he is paying are pretty much the standard rural village rates for workers. Your post is just underscoring his remarks about how westerners often pay too much to have work done. I pay skilled workers 170 baht per day and unskilled 150 baht per day...I'm the supervisor but if I had to hire one I could probably get one for 200 baht per day so 250 would be a bit on the generous side so he probably could cut his father in laws wage.

Chownah

The message obviously flew over your head. My thai wife and I own many projects in the province of Sakeo. I am biitacutely aware of "prevailing" wages. We always pay higher than "standard rural village rates". Why? Because we have a social and moral conciousness. We understand that paying those type of will never allow the worker to A}Educate his children, Own a house and and land, and C} Ever dream that tomorrow will be better than today. Those type of wages will, of course, insure your maximum profitability. So let's discuss who's the real piece of work, shall we, Chownah?

Sure, I don't mind discussing this at all. Of the three workers I have hired for a year or more at a time two have sent their children through University (one has children but they aren't old enough to go yet...but they will), they all own their own house and land, and they all don't have to dream about their lives improving because their lives are slowly getting better...at least getting better within the realm of physical goods...better motorcycles, tv's, karaokes, home improvements, etc. Maybe you are not aware that frugal people can have great lives on small wages especially when the wroking conditions mesh well with their culture and life styles. My current ongoing worker likes the fact that he works for me because it allows him to stay close to home so he can tend to his cows everyday and thus make some extra cash...and I don't complain when he walks off during the work day to water or move them. You see, many Thai people know that enough cash is enough and after you get enough then the best thing is to develop the right life style which is what a good life is all about afterall.

If I paid more than the prevailing wage people would probably think I was even richer than they do now and this would put more distance between them and me....I'm not here to be their "savior".....to lift them out of their dire poverty....because they might not have alot of money but they are not poor.

Chownah

BTW the way Chownah, you might consider some serious self-examination before you call someone a piece of work. I hope your wealth makes you happy. I hope not being "their savior" makes you happy. I hope paying the lowest possible wage to insure your maximum profititabiity makes you happy.

[pkrv]

Perhaps one way of looking at this is that those who talk down the market are those who are actually looking to buy - but at anothers expense - Good luck to them - suckers

[BAF]

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

What planet are you "piece of clown" from? Paying one's father in-law to build his own daugther's house?!?!

I guess I should start charging my in-laws for my professional services (I'm a traning professional nurse) and I should prepare a rate table for my future daughter's husband...

BTW, how much are you getting paid by your children's spouses? Below, above or at market prices?

My wife's two older sisters have both built a house in Thailand and my father in-law is a master builder. He took care of everything absolutely and obviously free of charge and thanked the foreign husband of one of his daugthers for the big "gift" (thanks to Thai laws) he gave to his daugther (the foreign husband covered 50% of the costs). The other sister paid for the house all by herself.

In what sad and miserable corner of farangland have you been educated to believe that it should be any different? Or have you just been "re-educated" in Thailand by the finest example of Thai s.cum most foreigners associate with?

[think_too_mut]

Nice to know your friend is paying the workers so handsomely, especially his own father-in-law. Is there any way possible he could pare his father-in-law's salary down a little bit, to say 175 baht a day? I'm sure that will save him a bundle. Your friend is truly a piece of work.

What planet are you "piece of clown" from? Paying one's father in-law to build his own daugther's house?!?!

Ha-ha-ha! Well said!

Can you imagine a situation where you are paying for the land and house and you father in law turns up and says "I can supervise the workers if you pay me above going rate. If not, I go to work on another site, you find somebody else".

If a smash directly into his face did not send him laying flat, he would probably see me disappearing or both. In any case, no house at all.

In fact, I am surprised that the poster who started all this is paying any money to his inlaws at all, at least not the father in law. What I saw was - they would do all the work and plus go around and bargain for fittings, helping further in reducing the cost. Of course, people outside the family were paid whatever the rate was and happy they could find work near their homes.

[backflip]

"The same thing happened when Docklands re-development in London started in 1983."

A decade later, the same thing happened when real estate developers "discovered" the DUMBO area of Brooklyn.

But back to Thailand, generally, and the cost of employing a father-in-law, specifically. A guy is paying him 250THB/day, and the response was that he's wasting his money, and should cut the F-i-L's salary to 200THB/day. Even if it took an entire year to build a home, working 7 days a week, the difference between the two salaries is $500US. Not exactly a king's ransom...

Edited April 4, 2007 by backflip

[chownah]

People's circumstances vary....some fathers-in-law need to make money because they are not rich or lazy....they get up and go to work every day. It is not reasonable to think that these people should work for free. Some fathers-in-law are rich and can afford to work for free.

[atlastaname]

Talking about condos, anyone any experiences at all of the 3 La Raffine developments in Bangkok? They look very very good , my kind of condo, but no-where can i find the price of the various units except by contacting them direct and then you don't know if the price is for real or not . Anyone know anything?

Can't say for certain across the whole development but a few months ago a business aquaintance of mine contracted to buy one at 71.3 mill, admitedly on the higher floors. Add at least another 5 for furnishings and you have a huge asset just waiting to drop to earth. He thought lowest was around 20 mill but I don't know for certain. Anyway far far too much in my opinion.

Thanks Gummy ,

all points noted

[think_too_mut]

Perhaps one way of looking at this is that those who talk down the market are those who are actually looking to buy - but at anothers expense - Good luck to them - suckers

This is what you call "healthy market" (from today's "Japan Times"):

"Apparently more than 50,000 mainland Japanese have moved to Okinawa over the past five years, and the prefectural government reckons that at least 40,000 retirees will be buying into the island lifestyle in the next five. The retirees as a group are estimated to bring about 80 billion yen in new cash into Okinawa's economy. Needless to say, this is creating a boom in luxury apartments on the island and realtors now run house-inspection tours for buyers looking for condosranging from 50 million to 160 million yen. One such new condo development still being built is already sold out. And just in case atop-up is needed, the Okinawa Bank is offering home loans to the retirees — even though they are no longer working or earning regular incomes."

Note (by TTM):

50 million Yen = approx. 430,000US$

16 million Yen = approx. 1,320.000US$

Now, what stands out here is - there were no more foreigners than Japanese stationed in Thailand for work. Over past decades could be million + people, including their families. They would have an idea about the country and what it is like to live there. And now, they are leading in number of visitors - 1.3 million last year, almost twice the number of Americans.

Then, why are they (Japanese) not leading in property purchases?

Hardly any traces of them even participating although I could see sales signs in Japanese around Thong Lor. Whatever their real estate activities are, it's far bellow the proportion of their presence/flow through Thailand.

Edited April 5, 2007 by think_too_mut

[backflip]

"Now, what stands out here is - there were no more foreigners than Japanese stationed in Thailand for work. "

In Thailand, the Japanese ARE foreigners.

"Then, why are they (Japanese) not leading in property purchases? Hardly any traces of them even participating although I could see sales signs in Japanese around Thong Lor. "

Perhaps "they" don't like the Thong Lor area. Perhaps "they" prefer the soi 22 or Lumpini Park areas.

[think_too_mut]

"Now, what stands out here is - there were no more foreigners than Japanese stationed in Thailand for work. "

In Thailand, the Japanese ARE foreigners.

"Then, why are they (Japanese) not leading in property purchases? Hardly any traces of them even participating although I could see sales signs in Japanese around Thong Lor. "

Perhaps "they" don't like the Thong Lor area. Perhaps "they" prefer the soi 22 or Lumpini Park areas.

Perhaps, being Asians themselves, Japanese trouble detector works at different frequency and they crossed Thailand off their map? Japanese are good customers for Oz real estate, Gold Coast, Cairns....

[ThaiGoon]

Perhaps, being Asians themselves, Japanese trouble detector works at different frequency and they crossed Thailand off their map? Japanese are good customers for Oz real estate, Gold Coast, Cairns....

Perhaps because not a lot of Japanese speak English, hence don't post on here much to tell you how much real estate in Thailand they have been buying?

[think_too_mut]

Perhaps, being Asians themselves, Japanese trouble detector works at different frequency and they crossed Thailand off their map? Japanese are good customers for Oz real estate, Gold Coast, Cairns....

Perhaps because not a lot of Japanese speak English, hence don't post on here much to tell you how much real estate in Thailand they have been buying?

Why would postings on this board be the source on any knowledge? At least, not the primary source.

Quite contrary, other than visa things, reading 70% of other posts could make one believe the place is good - to avoid.

That is why Japanese low proficiency in English language and absence of their posts on this board are irrelevant when it comes to know the Japanese make half a million Toyotas in Thailand, every of 80 million HDD iPods has Thai manufactured Hitachi hard disk (Hitachi is market leader in hard disks, Petchburi plant churns most of them), opened FamilyMarts, Asahi beer can be now found in all Lotus and Carefour, Japanese restaurants are not rare....the only piece that is missing is their participation in real estate. If there was significant activity in that sector, someone would have noticed.

[backflip]

"That is why Japanese (have a) low proficiency in English language "

Where did you get this bit of misinformation?

[think_too_mut]

"That is why Japanese (have a) low proficiency in English language "

Where did you get this bit of misinformation?

You don't see where I am? Or you know better? From google?

The sentence means "That is why Japanese' low proficiency..."

And, when will you stop adding drivel and parasiting on my posts? Get lost!

[SiriusBlack1]

I've just been told by a friend in the building trade that, while condo prices are softening, land prices are continuing to spiral up, at least in the Eastern Seaboard. Anybody heard similar?

[stevieff]

I've just been told by a friend in the building trade that, while condo prices are softening, land prices are continuing to spiral up, at least in the Eastern Seaboard. Anybody heard similar?

Not sure about everywhere, but in Samui the asking price for land continues to spiral upwards. No one is buying, but the asking price continues to rise. Makes no sense from an economics stand-point, but that's the way it is.