Here Is Proof That The Condo Market Is Not Booming

[chiang mai]

Lots of speculation as to the state of the condo market but the BOT figures below seem to tell a sorry story about the overall state of the real estate market.

http://www.bot.or.th/Bothomepage/databank/...Econ/Tab06E.asp

[jumnien]

I don't think this proof would hold up in a court of law. Looks like 2006 condo registrations were far greater that 2005 and early 2007 looks good compared to same months in 2006.

[chiang mai]

I don't think this proof would hold up in a court of law. Looks like 2006 condo registrations were far greater that 2005 and early 2007 looks good compared to same months in 2006.

You are correct, I misread the numbers - my apologies.

Mods - feel free to delete this thread

[bingobongo]

I don't think this proof would hold up in a court of law. Looks like 2006 condo registrations were far greater that 2005 and early 2007 looks good compared to same months in 2006.

mdeland, to you the coup looked good, so obviously you have rose colored glasses on , so please stop thinking of yourself as defender of the realm

Average price of houses at four-year low

The average housing price in Greater Bangkok declined to 2.14 million baht a unit as of the end of the first quarter _ the lowest since 2003 _ because most developers are shifting to the lower-end market, according to the property consulting firm Agency for Real Estate Affairs (AREA). ''It [average unit price] reflected the unfavourable market as most newly launched units were in the lower-priced segment. Low prices are affordable for both lower-income earners and speculators,'' AREA managing director Sopon Pornchokchai said yesterday.

http://thailand-property-guide.com/?p=news...&NewsID=323

[jumnien]

I don't think this proof would hold up in a court of law. Looks like 2006 condo registrations were far greater that 2005 and early 2007 looks good compared to same months in 2006.

mdeland, to you the coup looked good, so obviously you have rose colored glasses on , so please stop thinking of yourself as defender of the realm

Average price of houses at four-year low

The average housing price in Greater Bangkok declined to 2.14 million baht a unit as of the end of the first quarter _ the lowest since 2003 _ because most developers are shifting to the lower-end market, according to the property consulting firm Agency for Real Estate Affairs (AREA). ''It [average unit price] reflected the unfavourable market as most newly launched units were in the lower-priced segment. Low prices are affordable for both lower-income earners and speculators,'' AREA managing director Sopon Pornchokchai said yesterday.

http://thailand-property-guide.com/?p=news...&NewsID=323

Dearest Bingobongo-brain,

I humbly suggest that I have been one of the most virulent opponents of the coup and would support the return of Thaksin and a subsequent democratic election to replace him rather than continue this right-wing military junta madness. As to rose-colored glasses, I offer no defense. I'll just say that over the years my optimism has served me well.

Good day, sir.

[bingobongo]

come one mdeland, less pontificating and more facts, you may have been a food cook in the west (if i remember correctly) but you can't cook the #s.........

PROPERTY

Check buyers' credit, firms are urged

Banks reject 30% of presales purchasers, seminar is told

Thai Condominium Association president Atip Bijanonda said bank rejections of up to 30 per cent of total home-buyers have had a negative impact on the property market, because firms must resell the projects again. As a result, the property market has had more supply than demand in this year's first quarter.

http://www.nationmultimedia.com/2007/03/29...ss_30030520.php

[think_too_mut]

come one mdeland, less pontificating and more facts, you may have been a food cook in the west (if i remember correctly) but you can't cook the #s.........

PROPERTY

Check buyers' credit, firms are urged

Banks reject 30% of presales purchasers, seminar is told

Thai Condominium Association president Atip Bijanonda said bank rejections of up to 30 per cent of total home-buyers have had a negative impact on the property market, because firms must resell the projects again. As a result, the property market has had more supply than demand in this year's first quarter.

http://www.nationmultimedia.com/2007/03/29...ss_30030520.php

Bingobongo, I have been reading your findings with eager. This forum was infested with gang-hoo realtors 6 months ago and that was what triggered me off. They have taken a note (not only from me but from the general public and bare eye visible things) and don't make fools of themselves any more, with an exception or two or newbies from among them.

You might remember my post 5 months ago "Real price of condos in BKK" where I argued it is 500US$ per square meter, based on a project (announced in December last year) to build 4000 apartments near the Suvarnabhumi airport for their staff, unsubsidised. Not something luxury but more than livable. What a flack I received. Those realtors are not posting any more.

[bingobongo]

on top of:

-slowing economy

-coup

-protests in the streets

-baht too strong

-bombings

-lower consumer confidence

you have this livinginexile, proof that it is not booming.......

HOUSING SECTOR

Smaller property firms now failing to secure loans

Work halted on Bt20 billion of projects amid bleak demand outlook

http://www.nationmultimedia.com/2007/04/30...ss_30032995.php

[jumnien]

BB,

I'm not sure that we disagree on anything. For the reasons you stated I think this is a strategic time to buy property in Thailand. For sellers who did not sell while Thaksin was PM, I would wait out the occupation to sell. Good things, you listed most of them, have been happening in Thailand that are taking the pressure off of rising prices. Most of us would like this to continue for a while to open up even further buying opportunities before the next property price increases.

[quiksilva]

BB

I certainly don't disagree that the outlook for certain condo markets look bleak. But houses and condos are two different market sectors.

You may as well quote figures for automobile sales for all their relevance to this thread.

Edited April 30, 2007 by quiksilva

[bingobongo]

more proof condo market is not booming.......

Housing loans drops in 1st quarter, says GHB chief

Kan Prachuabmoh, the bank’s president, said GHB earned a net profit of 309 million baht in the first-quarter performance, down from 880 million baht in the same quarter last year.

http://etna.mcot.net/query.php?nid=29170

[palm]

more proof condo market is not booming.......

Housing loans drops in 1st quarter, says GHB chief

Kan Prachuabmoh, the bank’s president, said GHB earned a net profit of 309 million baht in the first-quarter performance, down from 880 million baht in the same quarter last year.

http://etna.mcot.net/query.php?nid=29170

Can you yourself actually afford to purchase one of these 10m+ baht condos in Bangkok?

We know you wouldn't buy one, but maybe the reason is you simply can't afford to?