100 hotels on Koh Samui forced to sell up due to COVID-19 crisis

[GreasyFingers]

1 hour ago, Forza2002 said:

Koh Samui will have to change it's name to Koh Cheen after the Chinese buy up everything. Then there will be charter flights galore from China... Naturally the Sino Thai families holding all the power will do little to stop them taking over as they will benefit and be rewarded. 

 

 

So the Chinese, not Thai, are not like us falang that cannot own property? Posters like you only talk about your prejudices, not reality.

[billd766]

5 hours ago, petermik said:

Just the tip of the iceberg...many more to follow...time will prove the idiocy of the governments handling of the Covid situation  

 

Very true. I wonder how many people in the government will be buying, perhaps through families or nominees?

[GreasyFingers]

1 hour ago, khunPer said:

Chinese have owned the island for generations. The original inhabitants are Hainan Chinese that came some hundred years ago, and before the lockdown there were daily direct flights from China; had been like that for long time, as a number of Chinese have a week-end house on Samui...

That is not right. The 7 families might be of Chinese origin but they are Thai, as is very common in this country.

There were also 2 flights per day direct from Russia. Used to watch them come in while on the beach.

[gearbox]

21 minutes ago, TechnikaIII said:

Two biying groups:

1. Chinese investors. (It's all part of the plan.)

2. Police and/or army folk with money. (Secondary to China's plan, but hey, why not?)

So keep them closed as long as possible, to force the prices down even further.

Places earmarked before the release of the virus.  As I said, it was all part of the plan.

Sure...can you post "the plan" details here, so we can have a look too.

[xylophone]

3 hours ago, phantomfiddler said:

In Pattaya it,s the Indians, buying up everything and just letting them sit there unused. All I can think of is money laundering. I went into one restaurant 4 times over 6 months and was told that the cook was not in !

Perhaps there was no "Reservation".......

[gearbox]

3 minutes ago, GreasyFingers said:

That is not right. The 7 families might be of Chinese origin but they are Thai, as is very common in this country.

There were also 2 flights per day direct from Russia. Used to watch them come in while on the beach.

I think very few Russians living in Samui were on long term visas. I knew a few which had to go to Malaysia for renewals. Interestingly how this is going to work out if the govt doesn't extend the visa amnesty after the 31st of July and the borders are still closed.

[billd766]

1 hour ago, sawadee1947 said:

If you call this Govt idiotic..... How you would name those in UK or US??? 

Even Prawit got more brain than Bojo or Donald together. 

At least he got the more expensive watches. ????

But what you are saying has to do with Boris or Trump at all, and nothing to do with the thread at all. The thread is all about hotels on Koh Samui. 

 

[P100]

4 hours ago, apophyss said:

Chineese will come buy all...

Yes that ist 100 percent sure. They made you sick and now they buy your property and key infrastructure. Belt and Road Initiative at its best. Enjoy, proud Thai man! You belong soon to those ruled by Chinese! With the help of Anutin and the other corrupt guys...

Chinese go unpunished for the economic devastation they have caused??? And Thais pray for Chinese to come back in masses? Really? You want them? Those who made you sick, and made you starve?

 

Oh yes I forgot, according Anutin (and his brother in crime, Xijinping) not spitting Chinese caused the mess, no it was the dirty farangs who don't shower... You remember the statements of the great statesman  Anutin? I do...

 

Nihaoma?

[armadillo215]

4 hours ago, mr_lob said:

Sadly yes, and in many struggling parts of the World. China to the rescue!

China is asshoe!

I think you are soon to see that Chinese pocketbook tighten up...The world is pretty upset...

 

[armadillo215]

So...Casual slang is now censored...

[thaiThai1970]

I wouldn't invest in Thailand no matter how cheap properties are. The best days are behind them now. We sold up a couple of years back & made a killing.

[ICELANDMAN]

2 hours ago, FarangULong said:

 Was thinking the same.. if only I was liquid (or rather MORE liquid) right now, I'd totally buy into one of those hotels. COVID will end eventually, even if there is another wave. And then it'll be back to business as usual.

 

Always wanted to own/own a piece of a hotel, especially a beach side resort on a lovely island like Koh Samui (though personally I prefer Koh Samet, but beggars can't be choosers).

 

What say ye, people of Thaivisa? T.V. Barbarian Sexpat Farang S<um LLC (or similar stereotypical name, to please the boys in green&blue, running the show?), buying 49% of a hotel or two as an investment group ???? ?? I seem to vaguely recall someone mentioning a couple weeks ago, that they just received their Thai citizenship, so we could even go all in?

 

Can I get a few "ayes"?

And you believe that tourists return as before ? Every think go for change now

 

 

[sawadee1947]

1 hour ago, billd766 said:

But what you are saying has to do with Boris or Trump at all, and nothing to do with the thread at all. The thread is all about hotels on Koh Samui. 

 

That is not quite right. 

It's about hotels on Samui which suffer from Corona because of "no customers ".

And it is about to open bars and restaurants again. 

And it has to do with tackling the crisis in a way so that tourists come back. 

Obviously you were in another thread. Start again. ????

[ThaiWai]

5 hours ago, Quickmill said:

I hope it will be as you said, at least for the people in need to sale their hotel, because i suspect it will be very hard to sale an hotel, with the expectation of lack of tourists, unless their own even the land...with proper chanod..just my point of view

I've offered thais cash for a way out of dying businesses before. Pride prevents them from taking it then they walk away with nothing. Oh well. 

[brain150]

Whoever thinks about buying anything now must be a complete fool !

There is NOTHING cheap on Samui ! Property is still way overpriced.

 

Check prices in 6 month !

We have seen nothing yet !!!

When the banks get in trouble then prices will fall ... 

 

The days of mass tourism are over anyway. [Climate reasons, Sustainability reasons, Covid reasons ...]

All agendas in the political landscape go AGAINST mass tourism !

The time for cheap flights are also over - most airlines are broke and need restructuring.

 

50% of all businesses on Samui Koh Tao and Koh Phangan will NOT survive the next 6 month !!!

And that's exactly what the people in charge [Not the Government !!!] want !!!

 

Asia and Europe are ahead for a very rough ride !!!

The US economy might surprise many - things are not as they seem on many levels !

[wazzupnow]

do not worry soon they will all be back under chinese management

here in chiang mai happening all ready

agents are buying hotels and guest houses

before booking had 2750 hotels here than it went to 1100 

now already back to 1330 

chinese will take over the world, not goverments only business

[khunPer]

2 hours ago, GreasyFingers said:

That is not right. The 7 families might be of Chinese origin but they are Thai, as is very common in this country.

There were also 2 flights per day direct from Russia. Used to watch them come in while on the beach.

I always heard about 19 Hainan families – and yes, like almost all, if not all, migrant Chinese families from about a century and more ago, they became Thai citizens, but often remain within Chinese circles. 

 

And daily flight from Malaysia and Singapore, and Charter flights from China – plus the 30+ domestic flight bringing in numerous of foreigners to the islands – but all that doesn't change what I said...????

[khunPer]

3 hours ago, GreasyFingers said:

So the Chinese, not Thai, are not like us falang that cannot own property? Posters like you only talk about your prejudices, not reality.

They can own a hotel or resort, if the investment is big enough.

[tomacht8]

As long as the government doesn't have a clear plan to revive international tourism, I wouldn't buy anything here. And the old army dinosaurs have no plan. 

 

Maybe they don't want to have any foreigners in the country in general, if you think of one or the other xenophobic statement from their circles.

 

They have nicely consolidated their power and cast critical voices and dissolved parties. 

 

The army princes live in splendor, are very rich and they are the last group go hungry. 

Why do those in power need tourists for?

 

Thailand has changed and is not the friendly, open welcome country since years. Ordinary people are still nice, but those in power think differently. 

 

 

[Penefattore]

9 hours ago, ezzra said:

Any one with cash at hand can make a killing now buying properties at rock bottom price and when things will look up, and they will, will at least double their money...

what they are selling is not the real estate but the hotel enterprise (that pays a rent to the landlord) 

So what you buy at "rock bottom" is just the privilege to pay for rent and staff.

[DJ54]

7 hours ago, Nice Boyd said:

Just like they did in Sinoukville, Now they r gone Ghost Town 

Wasn’t exodus due issue with gambling online...

[Kongshoej]

8 hours ago, mr_lob said:

Sadly yes, and in many struggling parts of the World. China to the rescue!

China is asshoe!

BETTER cHINESE THAN WHITE TRASH FROM THE U.S.

[gearbox]

5 minutes ago, Kongshoej said:

BETTER cHINESE THAN WHITE TRASH FROM THE U.S.

The Samui people don't need to choose, one or the other, all are welcome, this is the anecdotal feedback I'm getting from there.

[keystonecoppers2]

 

 

          I`ve lived for there for some years but left the island , as I saw 

          the traffic increased. Could hardly cross the main loop road.

          Only go there now and then some times, to visit old friends. 

          I can only say that they  have overbuilt  the Island  

          and I am deeply sad about the way it turned out to be. 

          Greed have no limits, and that is why the island will go down. 

          Will still go there and visit friends, but 3-4 days will be    

          enough time for me.

[davemos]

This is not rock bottom

[Miami007]

11 hours ago, apophyss said:

Chineese will come buy all...

With a Thai partner owning 51%... buying real estate and owning the land in Thailand is not that easy. 

Sure there are ways around it, but not as straightforward as in the USA or Europe 

[Miami007]

2 hours ago, Penefattore said:

what they are selling is not the real estate but the hotel enterprise (that pays a rent to the landlord) 

So what you buy at "rock bottom" is just the privilege to pay for rent and staff.

If the land is not included, the value of the business is really, really low at this time.

Nobody will buy and pay rent now with borders closed 

[ToThailand]

70000 people working for 600 hotels? That average 116 people per hotel. Those numbers cant be correct ????

[whaleboneman]

10 hours ago, gearbox said:

Sure...can you post "the plan" details here, so we can have a look too.

I’m sure it’s top secret and he’s not allowed to share.

[Stargeezr]

I feel sorry for the people who had to sell their hotels, or guest houses

 if they were the ones who had big loans owing on their businesses and properties.

  The places owned by large companies, or rich and powerful people, will sit

shut down until the tourists return.  There are many people in Thailand and

many other places in the world who have lost their businesses and even homes

because they were too in debt already before the lockdown and now cannot get

themselves out of debt, and have given up.  Good luck to all in the future.

Geezer