Jump to content

Recommended Posts

Posted
1 hour ago, baansgr said:

Tens of thousands of sellers and very few genuine buyers.

How do you know about this number ? 

Are you talking about the FB Marketplace ? Doesn't seem so big to me.

  • Like 1
Posted
40 minutes ago, xylophone said:

Here in Phuket, there are plenty of houses/condos for sale and they are not moving much at all

I was looking around (online) at condos in Phuket.  Don’t like the idea of the long term leases that seem so prevalent down there.

 

41 minutes ago, xylophone said:

have a couple of friends who tried to sell their houses here to no avail, although I would say that they were not keen on dropping their prices, but then again that seems to be a farang mindset and I do believe that many others will adopt this mindset to their detriment.

 

Well....you do know that they deserve that appreciation don’t you?  They all seem to be counting their money before it even sells all the while patting themselves on the back for being such financial geniuses.  Then...they want to double dip on the profit with the exchange rate difference now that their home currencies have fallen off a cliff.  Sure hope they like their homes more than I like my cash.

  • Thanks 1
  • Haha 1
Posted
2 hours ago, baansgr said:

But it's a true indicator of the market...Tens of thousands  of sellers and very few genuine buyers. 

^^^How true.

From experience Chiangmai.s market  whether rental or selling either houses or condo.s.

is a buyers market with very few buyers. 

Simply over supplied  to the  limit  .in all areas of Real Estate and grossly over priced too

And worse to follow .

No doubt about it

  • Like 1
  • Thanks 1
Posted
4 hours ago, Pattaya46 said:

How do you know about this number ? 

Are you talking about the FB Marketplace ? Doesn't seem so big to me.

Pattaya, buy and sell, hot sale, condo sale etc.etc etc......over 100 groups, and thats just pattaya....and yes, tried to sell a friends condo not one reply, put ad to rent a house had 379 replies...

  • Like 1
Posted
2 hours ago, deej said:

^^^How true.

From experience Chiangmai.s market  whether rental or selling either houses or condo.s.

is a buyers market with very few buyers. 

Simply over supplied  to the  limit  .in all areas of Real Estate and grossly over priced too

And worse to follow .

No doubt about it

It,s  always the first thing that happens before a recession,the property market collapses.

  • Like 1
Posted
On 11/27/2019 at 10:54 AM, baansgr said:

If anyone wants to see the true state of expat real estate in Thailand.  Join the 100 or so groups of RE on Facebook targeting over a million  people.  Post a condo,  land,  house for sale will be lucky to get one reply... Post you are looking to buy  and will receive hundreds if not thousands of replies

Ten years ago there were few houses to rent ( especially in our price range  12k/mo) .

We have had a good run but now almost impossible to get the news out.... with the thousands of houses and agents taking up all the ads.    Have never had to show to more than 2 or 3  people before renting,  but now i may have to hire an airplane with a banner to get the word out !

This is in CM,   btw

  • Like 2
  • Sad 1
Posted
15 minutes ago, rumak said:

Ten years ago there were few houses to rent ( especially in our price range  12k/mo) .

We have had a good run but now almost impossible to get the news out.... with the thousands of houses and agents taking up all the ads.    Have never had to show to more than 2 or 3  people before renting,  but now i may have to hire an airplane with a banner to get the word out !

This is in CM,   btw

Interesting enough the Bangkok condo rental market is doing surprisingly well. I know a couple of landlords that have just recently rented their units out in less than a month. Mid-range market stuff at a decent price.

Could be the more people are renting, as buying seem to have mostly dried up.

Posted
5 minutes ago, ExpatOilWorker said:

Interesting enough the Bangkok condo rental market is doing surprisingly well. I know a couple of landlords that have just recently rented their units out in less than a month. Mid-range market stuff at a decent price.

Could be the more people are renting, as buying seem to have mostly dried up.

I have seen many many posts on TV  with people saying where they stay the buildings are half empty and yet they  are building more condos everywhere.   Guess it depends who you talk to.

I have no experience in bkk................. but i certainly know what is going on in CM with house rentals.   Over 11 years we have had a 95% occupancy,  so must be doing something right.

That said, nothing stays the same forever.  My main point is that there are now LOTS more available,  which makes it much harder to find prospective tenants.

Since we also weed out about 80% before even showing i do assume that it will be harder to find good tenants

  • Like 1
Posted
Just now, rumak said:

I have seen many many posts on TV  with people saying where they stay the buildings are half empty and yet they  are building more condos everywhere.   Guess it depends who you talk to.

I have no experience in bkk................. but i certainly know what is going on in CM with house rentals.   Over 11 years we have had a 95% occupancy,  so must be doing something right

It could also be that the demographics of tenants are swing more toward condo living. It was our parents generation to live the suburban dream in a house, but the younger generation today are not interested in green fingers and garden work. They chill out online.

  • Like 2
Posted
2 hours ago, rumak said:

Ten years ago there were few houses to rent ( especially in our price range  12k/mo) .

We have had a good run but now almost impossible to get the news out.... with the thousands of houses and agents taking up all the ads.    Have never had to show to more than 2 or 3  people before renting,  but now i may have to hire an airplane with a banner to get the word out !

This is in CM,   btw

Same in Pattaya...worse still, anything half decent with a pool are asking more than Central London...empty year after year...Bang Saray want 500 quid a month for a crappy old two bed house...dreamers...again empty year after year

  • Like 1
Posted

Whilst a lot of the opinions , observations are true for many posts one would do well to bear in mind that farang expats are a relatively small subset of the market which is of course dominated by Thais , Chinese, other Asians and to a lesser extent at the low market end Russians and of course the more bomb-proof, well pensioned nordic snow bird couples. If the location is good and the price is right it will sell. Farang houses in Nakon Nowhere or isolated in a rural idyll may be ultimately unsalable at a price that the owner would have thought it might have been worth. 

  • Like 1
Posted

I am a compulsive owner, if I want to live in a house for 10 or 20 years I prefer to be the owner even if indirectly with a lawyer, if we also calculate that the money to pay the rent is to dictate monthly to the cost of what I have paid a new house I don't see any convenience to stay in rent, if one day I decide to leave or I have not received the visa, no drama will put it on sale with an agent and I will recover at least half the price I have paid, my quality same owner live have also a price.

  • Like 2
  • 2 months later...
Posted
On 11/30/2019 at 10:59 AM, KSwr7UDHyn said:

 

No, it's an indicator of an imperfect market with imperfect information. 

 

The reason Joe Farang thinks his condo is worth 5 million baht is because he doesn't know jack about real estate and he's using what other people have listed their property for and what the new condos are selling for as his guide.  He figured that if condos across the street are selling for 20% more than he paid for his, that his condo must be worth 20% more than what he paid for it. 

 

But he's WRONG!  That's not how the market works. 

 

The only price that matters is what price condos are actually transacting at.  If you have your condo on the market for 5 years at 5 million baht, that is not any sort of indication of where the market is at.

 

What is an indication of where the market is at is when Fritz Farang sold his condo two floors above you for 3.5 million baht. 

 

That's why in the US, you don't go by the price that the property is listed on the MLS.  You use "comps" or "comparable sales" in the area. 

 

But if the market had better data, you would see Joe Farang's condo sitting there for 5 years at 5 million and still unsold.  That would guide the next person to aim lower.  And people would keep aiming lower until they hit a price that their condo sold for, and then that becomes the new market price. 

 

The problem is there is no good source for pricing information or sales data. 

The firesales on the condo notice boards are good as any to see the direction of travel. 

  • Like 1
Posted
2 hours ago, URMySunshine said:

If you count your property purchase as 'throwaway money' and in any sale any return (even if it is a loss) is a bonus then you won't go far wrong. If you can't take that approach financially DON'T BUY !

Well stated. When you come to retire in Thailand—you must realize all Hell can break loose—Wuhan virus, high exchange rates, hordes of Chinese and Indian tourists.  Make sure you keep enough dough in the home country—so you can bail out whoever you’ve had enough.

  • Like 1

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...