Real estate: Foreigners told that 2021 is a Golden Year for investment in condos

[webfact]

Picture: Bangkok Business News

 

An event organized by Bangkok Business News and reported on by them contained many speakers who were upbeat about the property market in Thailand in 2021.

 

In fact one called the investment opportunities for foreigners in places like Pattaya, Phuket and Chiang Mai represented a golden, once in a generation chance.

 

While it was recognised that the pandemic had dealt a blow to short term aspirations the fundamentals of the property market were unaffected.

 

Saengphin Sukhee of Frasers Property Home (Thailand) said there was now an opportunity to focus on sustained growth in the sector.

 

He said that real estate will never die or collapse and he was waiting for what he called the "Nike Curve".

 

Woradech Rukhaphan of VBeyond Development stressed now was a great time for foreign buyers. 

 

"2021 is a golden year (for them) and the best in the last 30 years", he said.

 

He pointed to good prices, low interest rates and government stimulus measures. 

 

Though he still wanted to see the loan-to-value (LTV) situation addressed. 

 

He admitted that the foreign condo market was very quiet at the moment but he wanted to see the government encouraging foreign investment and saw great potential for people buying in tourist areas such as the Thai capital Bangkok, Pattaya, Phuket and Chiang Mai. 

 

Other experts at the forum said that promotions that saw the prices of property fall to the buyer were not reflected in true values and pointed to the fact that land prices continue to rise. 

 

BBN highlighted 2021 as a golden year for buyers in their headlines. 

 

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[ThailandRyan]

4 minutes ago, webfact said:

In fact one called the investment opportunities for foreigners in places like Pattaya, Phuket and Chiang Mai represented a golden, once in a generation chance.

Why? Because of the amount of available properties being huge and the Areas being overbuilt.?

[Surelynot]

Well I guess they would say that wouldn't they?..........got to be desperate times........14 rooms on our floor.....condo, central Bangkok.......... and I think we are the only occupants.

[Shuya]

26 minutes ago, webfact said:

He said that real estate will never die or collapse

In his last life, he was the head of PR at White Star Line. 

[PatOngo]

38 minutes ago, webfact said:

In fact one called the investment opportunities for foreigners in places like Pattaya, Phuket and Chiang Mai represented a golden, once in a generation chance.

 

Well, sign me up for three! Sounds too good to be true!

[Peterw42]

21 minutes ago, Surelynot said:

Well I guess they would say that wouldn't they?..........got to be desperate times........14 rooms on our floor.....condo, central Bangkok.......... and I think we are the only occupants.

How many of those condos are unoccupied because the owners cant get here

[BritManToo]

49 minutes ago, webfact said:

In fact one called the investment opportunities for foreigners in places like Pattaya, Phuket and Chiang Mai represented a golden, once in a generation chance.

As far as I can see no property sales prices have been reduced over the COVID period.

It's just become more difficult and expensive to enter the country.

 

What if COVID never goes away, but gradually gets worse, with more restrictions and deaths?

(The current deaths, infections, variants worldwide seem to indicate this to be the case)

 

What if the air quality in Chiang Mai just gets worse?

(the current forest fires in the mountains indicate this to be the case)

 

Now is not the time to buy anything, anywhere, unless you have money to burn.

(Sorry for the negative feelings, buy I wish I hadn't bought a house in Chiang Mai Thailand)

Edited April 2, 2021 by BritManToo

[Surelynot]

2 minutes ago, Peterw42 said:

How many of those condos are unoccupied because the owners cant get here

I wondered that....or how many are AirBnB investments, but no tourists........... most are up for sale with not a snowballs chance in hell of selling. We got our rent down from 26k to 17k pm with very little discussion.

[Surelynot]

3 minutes ago, BritManToo said:

As far as I can see no prices have been reduced over the COVID period.

I think is true for advertised prices.......but get into serious negotiations and I think there are some good deals to be had.

[Peterw42]

The  OP appears to have a couple of spelling mistakes.

They have spelt "ridiculous real estate marketing hyperbole" incorrectly.

 

 

[Fex Bluse]

The best time to buy a condo will be when military conflict is underway (or shortly after it finishes) in the region. All signs point to a very significant, perhaps even global, conflict coming soon. I'd save my cash to see how things shape up after the global economy is further devastated.

[Pilotman]

2021, a 'golden year' for being ripped off.  I wonder how many thousands of unsold condos there are in Thailand now.  At a rough count of floors in new builds,  ( it was a slow day) it must be close to 8,000 in Pattaya/Jomtien  alone. 

Edited April 2, 2021 by Pilotman

[Misterwhisper]

"Foreigners told that 2021 is a Golden Year for investment in condos"

 

Oh, really? For whom? Those "20 major real estate developers" who have expressed great love for participating in the Elite Card :Flexible One" and Flexible One Plus" scams... pardon... schemes and "see great value (i.e. profit)" in them?

 

As an old Thai proverb says: "If you can't sell it to a local, sell it to a foreigners at twice the price by conjuring up a 'Golden Opportunity' that would be foolish to miss."

 

 

 

[Justgrazing]

The dude on the right must really be on the bones of his ar*e with no socks on .. 

[Peterw42]

7 minutes ago, Pilotman said:

2021, a 'golden year' for being ripped off.  I wonder how many thousands of unsold condos there are in Thailand now.  At a rough count of floors in new builds,  ( it was a slow day) it must be close to 8,000 in Pattaya/Jomtien  alone. 

What dos "unsold" mean ? I have never really understood what people mean when they refer to unsold or empty. The developer still owns them, owned but not lived in ??

Do developer disclose what unsold stock they have ?

I don't know the status of the condo next door let alone whole buildings.

[kingofthemountain]

1 hour ago, webfact said:

the fundamentals of the property market were unaffected.

Overpriced shoe boxes with substandart construction

and poor maintenance are still on the menu then ?

[BritManToo]

40 minutes ago, BritManToo said:

Now is not the time to buy anything, anywhere, unless you have money to burn.

(Sorry for the negative feelings, buy I wish I hadn't bought a house in Chiang Mai Thailand)

Would also like to point out in 2013 the 250 houses in my village were all sold for 1M8bht (95% mortgage arraigned by building company through SCB).

Since then about 15%-20% have been repossessed/abandoned, there are no buyers and they are trying to sell for 2M-2m5bht (no  mortgage deals). 

The abandoned houses are all devoid of electric/water meters and are gradually being eaten by termites, and the gardens overgrown. You'd have to be insane to buy one now.

Edited April 2, 2021 by BritManToo

[kingofthemountain]

18 minutes ago, Pilotman said:

2021, a 'golden year' for being ripped off.  I wonder how many thousands of unsold condos there are in Thailand now.  At a rough count of floors in new builds,  ( it was a slow day) it must be close to 8,000 in Pattaya/Jomtien  alone. 

In fact it's more than the double of this amount

In a recent declaration, Phattarachai Taweewong,the associate director at

property consultant Colliers international Thailand said about the Pattaya market:

''the amount of unsold inventory in the market remained high at more than 20,000 units....''

[Pilotman]

26 minutes ago, BritManToo said:

Would also like to point out in 2013 the 250 houses in my village were all sold for 1M8bht (95% mortgage arraigned by building company through SCB).

Since then about 15%-20% have been repossessed/abandoned, there are no buyers and they are trying to sell for 2M-2m5bht (no  mortgage deals). 

The abandoned houses are all devoid of electric/water meters and are gradually being eaten by termites, and the gardens overgrown. You'd have to be insane to buy one now.

a golden opportunity then? ????????????

[BritManToo]

Just now, Pilotman said:

a golden opportunity then? ????????????

At 1M2bht and a 95% mortgage in  your own name, it'd be a golden opportunity.

At 2M5bht cash only in  a Thai girls name, you'd need to have your head examined.

Edited April 2, 2021 by BritManToo

[simon43]

1 hour ago, Fex Bluse said:

The best time to buy a condo will be when military conflict is underway (or shortly after it finishes) in the region. All signs point to a very significant, perhaps even global, conflict coming soon. I'd save my cash to see how things shape up after the global economy is further devastated.

Although buying a condo with shell holes in the walls might make it difficult to rent out...

[gunderhill]

1 hour ago, Justgrazing said:

The dude on the right must really be on the bones of his ar*e with no socks on .. 

And  two  of the others  have  slipped  into a  coma!

[gunderhill]

18 minutes ago, simon43 said:

Although buying a condo with shell holes in the walls might make it difficult to rent out...

Bonus, free airconditioning.

[khunPer]

3 hours ago, webfact said:

...a golden, once in a generation chance

I noticed that it was said by real estate agents...????

[starky]

Please just stop. Every day with the ridiculous announcements. I truly want to see Thailand bounce back but they gotta just shut up with the hare brained schemes. 

 If the property market hadn't been affected why would there be all these special low prices. ????‍♂️

Edited April 2, 2021 by starky

[brucegoniners]

LOL

 

No doubt these guys are builders of condos or are being paid by such to make these claims.

 

Condos are a lousy investment generally. Especially when there are no foreigners here to buy them.

 

That is just insane!

[Thaifly88]

3 hours ago, Fex Bluse said:

The best time to buy a condo will be when military conflict is underway (or shortly after it finishes) in the region. All signs point to a very significant, perhaps even global, conflict coming soon. I'd save my cash to see how things shape up after the global economy is further devastated.

don’t hold your breath ????

[realfunster]

2 hours ago, Justgrazing said:

The dude on the right must really be on the bones of his ar*e with no socks on .. 

 

A fashion fad in recent years. It just looks weird when wearing semi-formal or formal attire.  Especially when it is inevitably combined with raising your trouser hem 3 inches shorter than usual.

 

To each their own...

[mr_lob]

Other countries allow foreigners to buy land in their own name.

So sorry, not even BRONZE!

[John Drake]

Wait a couple of years, and you might have PLA end up as your landlord.