Here Is Proof The Bangkok Condo Market Is Still Booming

[bingobongo]

"one more time for those of you who missed class........when supply is greater than demand, prices fall"

If the chart you provided was correct, there were 600,000 housing units built is BKK during the past decade. The chart did not indicate the cumulative demand. How can you use that chart to prove your point that there is an oversupply?

you know google is not that difficult to use, but here you go

Last year, 82,387 units worth Bt205.9 billion remained unsold, while this year will add 30,000-40,000 units, said Samma Kitsin, director-general of the REIC.

[hhgz]

Great, another tidbit from thaicrisis.com.

Are the 80,000 units ready to move-in "today", or over the next few years? The latter, not the former.

[think_too_mut]

I bought when the AUS$ was at 30bht.

Now it is at 23bht

Sucker. I bought when AU$ was almost 33B.

If I sold for the same price I bought (in Thai bht), and then convert back to AUS$ I would make nearly 40% on my original investment.

If you sold, yes. But you can not sell under any cisrcumstances. Except to those already circling this board with "Discounted property sought" whose logic includes yours, inviting distressed people to get what they can (40-50% of today's price "due to currency rates") pack up and go.

Plus I can sell for at LEAST another 20% on the capital gains I've made.

Dream on.

Just because your investment out in the boonies is dropping like a stone it doesn't meen everyone else who bought smart is suffering the same fate as you.

It's not an investment. It is not and will never be rented. That's for my daughter to spend 2 months a year, enjoy the resort style living, attend nearby International school summer camps and keep her Thai skills. Children from family will be invited to stay too.

What would she think of me if I sent her to Trendy to share the lifts with tatooed blobs and their companions?

There are at least 2 more differences between our understanding of our properties in BKK:

One is, I have no illusion the value will go up, if surrounding places are asking more that does not make the property sellable at all.

Yours is same rubbish, it's just that you internally believe you were a fool to buy there, hence all this drumming up how great investment it was and even telling about "booming".

Second is, I don't enjoy having neither a kaotoey nor regular gogos on the ground floor of my apartment block.

Keep on replying, it keeps this outrageously titled thread on the top, sticks your name to it and amuses members and guests.

It's quite a fun having you around.

[quiksilva]

And i just cant believe there are many Thai som-tum and noodle sellers making 100,000 baht a day -?

Ah so Midas we agree on something at last!! I also dont believe there are many Thai som-tam and noodle sellers making GBP 730,000 a year!

PS It might surprise you to learn that not all Thais are in the renowned som-tam and noodle industry.

PPS (NO. I am not defending this thread, you will get no argument from me that the resi market has for the most part tanked. Transactions have all but dried up. Not completely mind, as we are still selling the occasional unit but mostly in resort areas to very well to do Thais)

Edited January 29, 2009 by quiksilva

[shochu]

don't discount people who make a living trading from a cart too quickly. in manhattan, those hot dog guys have to pay close to a mil. for the right to use the sidewalk in the best locations.

i know of people who make about 5G's a month and can afford to hire people to do the work while they just come by and keep an eye on them. obviously it has to be a high traffic area.

i also read last year of a women in isaan who sold bbq field rats from a busy roadside and if memory serves me correctly - she said she made about 40000 baht a week.

RE: condos,

those marketed to the locals in good locations are still doing okay - they have the necessary numbers to start the projects. one thing they are probably counting on is this market to maintain the requisite numbers to get projects off the ground and to capitalize on the cheaper costs and to profit as the economy improves eventually. they have up til now successfully completed a number of projects - so are sitting on enough cash to ride this out - and they have followed most of the golden rules about location, targeted for the local middle class market, etc. and many other factors all favor a gamble in this direction. better than money sitting sitting in a bank - yes - u can quote me on this!

Edited January 29, 2009 by shochu

[hhgz]

"You made that chart up your self didn't you? "

Yes he did. I checked the Bank of Thailand website, and bb's chart is no where to be found. bingobongo is manufacturing information to support his perspective.

[bingobongo]

"You made that chart up your self didn't you? "

Yes he did. I checked the Bank of Thailand website, and bb's chart is no where to be found. bingobongo is manufacturing information to support his perspective.

lol you silly wonk, i suggest you go back to the BOT site and learn how to read, the information is there as clear as day

i smell desperation amongst the homedebtors (notice i didn't say homeowners) as they are renting from the bank in a deflationary debt collapse and are the proud nonowners of a capital trap

here is today's lesson hhgz

CAPITAL TRAP: An asset that is illiquid .

Here is an example in a sentence: the smart investment decision is to sell it and preserve whatever capital you still have--unless it's illiquid, in which case your capital is trapped.

Edited January 31, 2009 by bingobongo

[Livinginexile]

"You made that chart up your self didn't you? "

Yes he did. I checked the Bank of Thailand website, and bb's chart is no where to be found. bingobongo is manufacturing information to support his perspective.

lol you silly wonk, i suggest you go back to the BOT site and learn how to read, the information is there as clear as day

i smell desperation amongst the homedebtors (notice i didn't say homeowners) as they are renting from the bank in a deflationary debt collapse and are the proud nonowners of a capital trap

here is today's lesson hhgz

CAPITAL TRAP: An asset that is illiquid .

Here is an example in a sentence: the smart investment decision is to sell it and preserve whatever capital you still have--unless it's illiquid, in which case your capital is trapped.

Yep...he made it up.

Poor old Bongo is just another day trader trying to down ramp the Bkk real estate market by using the same pathetic tactics day traders use to ramp up (or down) stocks that the wish to buy (or sell).

His made up "charts" are comical and childish at best. He uses broad market statistics and then applies them no non relevant subjects. For example; applying Thai housing statistics to the high end Bkk condo market.

I actually like his posts, they allways give me a good laugh

[think_too_mut]

"You made that chart up your self didn't you? "

Yes he did. I checked the Bank of Thailand website, and bb's chart is no where to be found. bingobongo is manufacturing information to support his perspective.

How do you know about his perspective? Must be quite a valid one if you have studied all of B'bongo's posts since joining January 13th?

Mods, Backflip is here, again!

[hhgz]

"how do you know about his perspective? Must be quite a valid one if you have studied all of B'bongo's posts since joining January 13th?"

One nice feature of the archive and search function is that you can read all of a member's posts as a continuous log. Yes, I read through every single page of roughage that bingobongo has produced. If you had done so, you will see that bingobongo has lied, made contradictory statements, and fancied wild theories to explain his perspective. My favorite: he believes that the murder of two Russian prostitutes in Pattaya two years ago supported his claim that the Bangkok real estate market was failing.

You only need to read a handful of his posts to realize what his perspective is. If you bother to read first 1,000 posts, they reflect the same perspective as the last dozen.

[pkrv]

"how do you know about his perspective? Must be quite a valid one if you have studied all of B'bongo's posts since joining January 13th?"

One nice feature of the archive and search function is that you can read all of a member's posts as a continuous log. Yes, I read through every single page of roughage that bingobongo has produced. If you had done so, you will see that bingobongo has lied, made contradictory statements, and fancied wild theories to explain his perspective. My favorite: he believes that the murder of two Russian prostitutes in Pattaya two years ago supported his claim that the Bangkok real estate market was failing.

You only need to read a handful of his posts to realize what his perspective is. If you bother to read first 1,000 posts, they reflect the same perspective as the last dozen.

This is troublesome stuff - and unfortunaly something we all need to digest - we need to make up our own minds here.

[Livinginexile]

The upper Bangkok condo market is still moving at a brisk rate.

Anyone who bought when this thread was started would have made a nice profit by now

Any bets one which way the market will move from here?

[trogers]

The upper Bangkok condo market is still moving at a brisk rate.

Anyone who bought when this thread was started would have made a nice profit by now

Any bets one which way the market will move from here?

Sideways till late 2011

[123ace]

The upper Bangkok condo market is still moving at a brisk rate.

Anyone who bought when this thread was started would have made a nice profit by now

Any bets one which way the market will move from here?

Sideways till late 2011

Sideways at best, certainly no increases, the risk is that the upper / mid bracket breaks and it pulls the top down with it. rents will almost certainly remain flat with th epotential risk of reducing as the tenant pool is sharply in decline, so there is no positive outlook in real terms.

[cshort64]

Good Morning;

What is the rental market going to be like? If I wish to puchase a 1 or 2 bedroom condo for rental and long term investment, say 10+ years, does this still look like something that makes any sense at all? There are many many condo's coming available and renting a 2 bedroom may be easier than a 1 bedroom and easier to resell but I'm not sure. What are the general thoughts some have on this, buying for long term investements.

Cheers

C.

[Livinginexile]

Good Morning;

What is the rental market going to be like? If I wish to puchase a 1 or 2 bedroom condo for rental and long term investment, say 10+ years, does this still look like something that makes any sense at all? There are many many condo's coming available and renting a 2 bedroom may be easier than a 1 bedroom and easier to resell but I'm not sure. What are the general thoughts some have on this, buying for long term investements.

Cheers

C.

A lot depends on where you purchase.

[Pakboong]

The upper Bangkok condo market is still moving at a brisk rate.

Anyone who bought when this thread was started would have made a nice profit by now

Any bets one which way the market will move from here?

Sideways till late 2011

Sideways at best, certainly no increases, the risk is that the upper / mid bracket breaks and it pulls the top down with it. rents will almost certainly remain flat with th epotential risk of reducing as the tenant pool is sharply in decline, so there is no positive outlook in real terms.

The Global Property guide has Thailand property off 16.98% for the last year. They use BOT data to develop their view on the market. No reason for a prudent person to choose an isolated story of a personal experience or two over country wide hard data but I expect a few will give it a try. There is no recovery on the horizon.

http://www.globalpropertyguide.com/Asia/price-change-1-year/

[pkrv]

One of the strangest things is the exchange rates.

I am UK and bought at 75 (ish) we are now down at 48/9. You just look at the figures and now say ohh my god I made a very serious investment, when it was just meant to be a simple Pad Thai.

[Livinginexile]

One of the strangest things is the exchange rates.

I am UK and bought at 75 (ish) we are now down at 48/9. You just look at the figures and now say ohh my god I made a very serious investment, when it was just meant to be a simple Pad Thai.

Well done pkrv, we all did well buying 2+ years ago.

[hansum]

One of the strangest things is the exchange rates.

I am UK and bought at 75 (ish) we are now down at 48/9. You just look at the figures and now say ohh my god I made a very serious investment, when it was just meant to be a simple Pad Thai.

Well done pkrv, we all did well buying 2+ years ago.

Yes if youve sold and put the money back into sterling.

Thing i like about forever rising house prices in BKK is that it prices those Thais who work long and hard and only make 30,000 bht or so a month out of the property market ... its fantastic dont you agree?

[hansum]

Any bets one which way the market will move from here?

Up up and up you and i know that property can only go up, maybe slower for a while but then it'll boom again and then boom a bit more as the Chinese are coming:rolleyes:

[hansum]

Good Morning;

What is the rental market going to be like? If I wish to puchase a 1 or 2 bedroom condo for rental and long term investment, say 10+ years, does this still look like something that makes any sense at all? There are many many condo's coming available and renting a 2 bedroom may be easier than a 1 bedroom and easier to resell but I'm not sure. What are the general thoughts some have on this, buying for long term investements.

Cheers

C.

OK i'll offer you advice ...

If you can, use other peoples money to make money.

Now im presuming youre British so why not get a 50% mortgage and buy a house that is on its OWN land in a University town, do it up too a high standard and let the university rent it out for you.

This way youre using someone elses money to make money which is how people get rich these days or at least they did .... and as you will only get 3-4% Yield at current prices in the UK the rent should cover the costs for a 50% mortgage.

Though i do believe property prices in the UK are due to fall now the economy ruining dumfuk Gordon Brown doesnt need to artificially inflate prices to stay in power.

[pkrv]

One of the strangest things is the exchange rates. I am UK and bought at 75 (ish) we are now down at 48/9. You just look at the figures and now say ohh my god I made a very serious investment, when it was just meant to be a simple Pad Thai.

Well done pkrv, we all did well buying 2+ years ago.

Yes if youve sold and put the money back into sterling. Thing i like about forever rising house prices in BKK is that it prices those Thais who work long and hard and only make 30,000 bht or so a month out of the property market ... its fantastic dont you agree?

Hmm interesting Why on gods earth would I choose to put the money back into sterling - I don't know if you have noticed but you sort of have one life - How I choose to lead mine in my choice, how you choose to lead yours, is of course your choice. I admit however that the exchange rate does give a certain comfort factor. You seem to be confusing House/Land ownership and Condominium ownership issues - Please be aware I have fought very hard, on these very diverse topics, before. Edited July 14, 2010 by pkrv

[cshort64]

Hansum;

Thank you for the advise, it is an interesting idea. I am actually American and not British, but the idea is still an interesting one. I had been leaning towards puchasing 1 or maybe 2, 2 bedroom condo's here in Bangkok as this is my residence for the duration but I was not sure if the market was down enough to make money over the long hall. I also see a great deal of building going on and reading about sales on condo's so I'm not sure if there is a market clut right now....

Again, Thank you

C

[Pakboong]

Good Morning;

What is the rental market going to be like? If I wish to puchase a 1 or 2 bedroom condo for rental and long term investment, say 10+ years, does this still look like something that makes any sense at all? There are many many condo's coming available and renting a 2 bedroom may be easier than a 1 bedroom and easier to resell but I'm not sure. What are the general thoughts some have on this, buying for long term investements.

Cheers

C.

OK i'll offer you advice ...

If you can, use other peoples money to make money.

Now im presuming youre British so why not get a 50% mortgage and buy a house that is on its OWN land in a University town, do it up too a high standard and let the university rent it out for you.

This way youre using someone elses money to make money which is how people get rich these days or at least they did .... and as you will only get 3-4% Yield at current prices in the UK the rent should cover the costs for a 50% mortgage.

Though i do believe property prices in the UK are due to fall now the economy ruining dumfuk Gordon Brown doesnt need to artificially inflate prices to stay in power.

I have attached a link to an opinion that the UK property market will not recover for a while. That is from my casual reading today. Hard data on this subject is all over the web. It is not a secret as to how bad the UK economy and housing industry is right now.

http://www.telegraph.co.uk/finance/economics/houseprices/7886145/UK-house-prices-not-set-to-recover-for-another-ten-years-says-PWC.html

What would be the point of offering an opinion without some understanding of the current market?

[123ace]

The differences between owning a condo in Bangkok or the UK, but the tenant market is likley to remain far more robust and improving in the UK compared with Bangkok (as local English people rent mid and high end apartments whereas Thai are virtually non existent as tentants in the mid - high end here) . Capital values in both locations are dubious and will remain so for the next 2 - 3 years.<BR><BR>In repsonse to an earlier post regarding finacing in the UK. At present the buy to let morgtgage scene is hard as Bank's are not lending, so you may need more than 50%. For bangkok you will need 100% cash anyway.

[hansum]

Good Morning;

What is the rental market going to be like? If I wish to puchase a 1 or 2 bedroom condo for rental and long term investment, say 10+ years, does this still look like something that makes any sense at all? There are many many condo's coming available and renting a 2 bedroom may be easier than a 1 bedroom and easier to resell but I'm not sure. What are the general thoughts some have on this, buying for long term investements.

Cheers

C.

OK i'll offer you advice ...

If you can, use other peoples money to make money.

Now im presuming youre British so why not get a 50% mortgage and buy a house that is on its OWN land in a University town, do it up too a high standard and let the university rent it out for you.

This way youre using someone elses money to make money which is how people get rich these days or at least they did .... and as you will only get 3-4% Yield at current prices in the UK the rent should cover the costs for a 50% mortgage.

Though i do believe property prices in the UK are due to fall now the economy ruining dumfuk Gordon Brown doesnt need to artificially inflate prices to stay in power.

I have attached a link to an opinion that the UK property market will not recover for a while. That is from my casual reading today. Hard data on this subject is all over the web. It is not a secret as to how bad the UK economy and housing industry is right now.

http://www.telegraph...s-says-PWC.html

What would be the point of offering an opinion without some understanding of the current market?

I am more aware then most of current market conditions as ive a load of money in the bank to buy once prices go down .... ive been waiting 4 years now, but read the last sentence i wrote.

The advice of using the banks money instead of buying outright is correct.

[hansum]

Hansum;

Thank you for the advise, it is an interesting idea. I am actually American and not British, but the idea is still an interesting one. I had been leaning towards puchasing 1 or maybe 2, 2 bedroom condo's here in Bangkok as this is my residence for the duration but I was not sure if the market was down enough to make money over the long hall. I also see a great deal of building going on and reading about sales on condo's so I'm not sure if there is a market clut right now....

Again, Thank you

C

Surely youd be best off buying in the US as from what i gather your govt hasnt gone all out to keep house prices inflated ... and theyve crashed already .... there must be some areas in the states where jobs will remain high and theyve crashed already ... but again its best to get a buy2let mortgage if you can as opposed to dropping all your money into an apartment.

[hansum]

One of the strangest things is the exchange rates. I am UK and bought at 75 (ish) we are now down at 48/9. You just look at the figures and now say ohh my god I made a very serious investment, when it was just meant to be a simple Pad Thai.

Well done pkrv, we all did well buying 2+ years ago.

Yes if youve sold and put the money back into sterling. Thing i like about forever rising house prices in BKK is that it prices those Thais who work long and hard and only make 30,000 bht or so a month out of the property market ... its fantastic dont you agree?

Hmm interesting Why on gods earth would I choose to put the money back into sterling - I don't know if you have noticed but you sort of have one life - How I choose to lead mine in my choice, how you choose to lead yours, is of course your choice. I admit however that the exchange rate does give a certain comfort factor. You seem to be confusing House/Land ownership and Condominium ownership issues - Please be aware I have fought very hard, on these very diverse topics, before.

Well as you were the one boasting about buying at 75 to the pound and then relating it to it being 48/49 now, it was you that was implying youd make money by converting it back to sterling.

If you didnt convert it back to Sterling then you havent actually made a bean if you sold it at the same baht price you bought it for ... comprende?

Edited July 16, 2010 by hansum

[Pakboong]

Good Morning;

What is the rental market going to be like? If I wish to puchase a 1 or 2 bedroom condo for rental and long term investment, say 10+ years, does this still look like something that makes any sense at all? There are many many condo's coming available and renting a 2 bedroom may be easier than a 1 bedroom and easier to resell but I'm not sure. What are the general thoughts some have on this, buying for long term investements.

Cheers

C.

OK i'll offer you advice ...

If you can, use other peoples money to make money.

Now im presuming youre British so why not get a 50% mortgage and buy a house that is on its OWN land in a University town, do it up too a high standard and let the university rent it out for you.

This way youre using someone elses money to make money which is how people get rich these days or at least they did .... and as you will only get 3-4% Yield at current prices in the UK the rent should cover the costs for a 50% mortgage.

Though i do believe property prices in the UK are due to fall now the economy ruining dumfuk Gordon Brown doesnt need to artificially inflate prices to stay in power.

I have attached a link to an opinion that the UK property market will not recover for a while. That is from my casual reading today. Hard data on this subject is all over the web. It is not a secret as to how bad the UK economy and housing industry is right now.

http://www.telegraph...s-says-PWC.html

What would be the point of offering an opinion without some understanding of the current market?

I am more aware then most of current market conditions as ive a load of money in the bank to buy once prices go down .... ive been waiting 4 years now, but read the last sentence i wrote.

The advice of using the banks money instead of buying outright is correct.

Sorry, your last sentence suggested to me that you thought prices might fall when in fact, they are in free fall with no relief in sight. In fact, prices are in free fall around the world suggesting as well that there will not be lots of money to bring into the country to buy property and the practice of selling to cash buyers from Farang countries has no future here. There simply will be very few cash customers period.

I have been waiting for 6 years and will continue to wait indefinitely. I have no problem renting in this market. There are rental bargains out there but there are few if any purchase bargains.