economy not good for farang

[ozz1]

Had a trip to north east Thailand near loei  and was approached by a local asking if I wanted to buy a resort owned by a farang for 3 million baht it was 15 million baht and he just wants to get out of Thailand I've never have this happen before all the years living here and I guess we will see more like this but I said I wouldn't buy anything at the moment while the baht is so high he agreed and said no one wants to buy real estate at the moment and  I'm not surprised

[ezzra]

Sound fishy... from 15 mil to 3 mil, this is a fire sale, even though things are tough now in the RE market surly can't be that bad...

[Pravda]

Word on the street is <a well known construction company> is giving out their condos for 100,000 baht a pop

Edited December 27, 2019 by blackcab
Name of builder removed

[neeray]

5 minutes ago, ezzra said:

Sound fishy... from 15 mil to 3 mil, this is a fire sale, even though things are tough now in the RE market surly can't be that bad...

That would depend on how badly the current owner is bleeding each month. Losses for repeated months with no hope in site can cause one to think, "this is like pi**ing into the wind".

Maybe best to get out now before 3,000,000 becomes 3,000.

[blackcab]

From 1st January 2020 all such resorts will also have to pay commercial property tax, regardless of whether they have customers or not.

 

With the previous system resorts paid tax on their income, so the tax was proportionate to their income (and therefore the system was widely abused).

[sammieuk1]

Was the resort Chiang Mai at 3 mill if it was haggle a few mill off ????

[Denim]

21 hours ago, Pravda said:

Word on the street is <a well known construction company> is giving out their condos for 100,000 baht a pop

 

A Thai would rather let the place fall down than reduce the asking price to a reasonable figure. So that street word is not likely to be even close to the truth.

 

100,000 deposit maybe.

[mshs]

14 hours ago, neeray said:

That would depend on how badly the current owner is bleeding each month. Losses for repeated months with no hope in site can cause one to think, "this is like pi**ing into the wind".

Maybe best to get out now before 3,000,000 becomes 3,000.

Right, kinda like when fake-news that goes by the name Newsweek sold itself for $1 (plus debt).

[PatOngo]

21 hours ago, Pravda said:

Word on the street is <a well known construction company> is giving out their condos for 100,000 baht a pop

Are you buying one or two for your all new, 100% Thai/Chinese girlfriend who's different?

[bkk6060]

Economy is great for some.

1/4 my home country living the dream.

Go Thailand!

[Roy Baht]

21 hours ago, Pravda said:

Word on the street is <a well known construction company> is giving out their condos for 100,000 baht a pop

1,000,000 baht a pop is probably more like it. I've heard of another company doing that. And for projects that will never be completed. They're just trying to make up for losses from previous projects that went bust.

[saengd]

Older houses near to me, previously occupied by farangs, along with new houses built for sale had stood empty for many months. Now, instead of trying to sell them the owner rents them to Chinese families who have kids at the international school a few miles away. THB 38,000 a month for a two bed two bath with basic furnishings, excluding the cost of utilities and estate management fees, what a bargain! In a normal price market the sale value of those places would be circa. THB 2 mill., 38k a month rental income is a brilliant ROI.