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

[Surelynot]

4 minutes ago, brian2f2f said:

When in phuket dec 26 and 27 in the mall thwubhaf condos around 2 million discount desperate to sell. 

Please don't tempt me.

Edited April 2, 2021 by Surelynot

[moldresistant]

33 minutes ago, hotchilli said:

Millions of baht for a shoe box sized condo, designed like chicken coups that you can't get your name on?

 

Agreed, and when you compare prices to other parts of the world, it's does not look appealing.

 

Could buy a summer cabin in Maine on a big plot of land for cheaper. Just an example.

Edited April 2, 2021 by moldresistant

[Bangkok Barry]

I'm sure the Chinese will be delighted and will soon be coming in droves. Buying up businesses too.

[Phuket Pete]

Monied people won't put up with being treated like sheep by your Immigration department. So start by making Thailand more welcoming and less hostile to foreigners who can invest here.

 

[tonysilly]

Relestate::: Thai Local are ready to scam on Foreigners!! 100%

[Darkside Gray]

What a croc of 5h1t

[Scott Tracy]

I looked at the headlines. Real estate caught my eye. Hoping this was the year foreigners could buy land. But it goes on to say just condos.

 

Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.^[1][2]

 

^{according to wiki: https://en.m.wikipedia.org/wiki/Real_estate}

[geisha]

I worked out a few years back that to buy the condo I was living in 3.000000 B was worth it if I  wanted  to stay there 10 / 12 years. I knew then that selling a condo wasn’t easy . So I stuck to renting , which is reasonable, no risk, I lived in Kata beach, moved out of that one because they built a soi in front of my living room, then, after a few years of peace in Patong, they built a town like complex of buildings in front of my sea view condo, moved from there, then in Pattaya , beautiful penthouse , eventually no more maintenance, dirty pool, Russian drunks sitting around, moved from there. Same in Jomtien, lack of pool. maintenance , and bad building, moved again. Now it’s going to be hard to come back, I’m home in France, considering a beautiful rental Bali bungalow when the Covid restrictions lift , own pool, breakfast delivered . Well. I’ll try. Can pop over to Bangkok if I want to. 

[Surelynot]

2 minutes ago, geisha said:

I worked out a few years back that to buy the condo I was living in 3.000000 B was worth it if I  wanted  to stay there 10 / 12 years. I knew then that selling a condo wasn’t easy . So I stuck to renting , which is reasonable, no risk, I lived in Kata beach, moved out of that one because they built a soi in front of my living room, then, after a few years of peace in Patong, they built a town like complex of buildings in front of my sea view condo, moved from there, then in Pattaya , beautiful penthouse , eventually no more maintenance, dirty pool, Russian drunks sitting around, moved from there. Same in Jomtien, lack of pool. maintenance , and bad building, moved again. Now it’s going to be hard to come back, I’m home in France, considering a beautiful rental Bali bungalow when the Covid restrictions lift , own pool, breakfast delivered . Well. I’ll try. Can pop over to Bangkok if I want to. 

Dodged a few bullets there.....sticking to my mantra.....never buy....only rent.

[bimmerbob]

7 hours ago, ThailandRyan said:

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

Spot on!

 

If only Thailand understood supply / demand pricing.

If only they would remove the 49/51 ownership ratio on condos - that alone would be reason enough to invest.......

If only they were a lot less upbeat...........

[Artisi]

7 hours 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.

Well, no noisy neighbours ????

[Nanaplaza666]

6 hours ago, Peterw42 said:

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.

Unsold means the developer hasn't sold them yet duh !! Or did you think the developer build the whole building with all the condo's to live there himself ?? Owned but not lived in ?? So he gives them away for free for people to live in ?? 

[Artisi]

6 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.

Why, Thailand won't be any better for real estate owernship

 

[RocketDog]

7 hours ago, BritManToo said:

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)

You said it. What is the opportunity if the units aren't cheaper, easier to finance, or in desirable areas, none of which seems to be the case? 

Just more aggressively wishful thinking and naive marketing ploys. 

[bullseye66]

I already own a condo. But can't and won't go back until you remove your pathetic, short sighted quarentine <deleted>.

Edited April 2, 2021 by bullseye66

[Peterw42]

9 minutes ago, Nanaplaza666 said:

Unsold means the developer hasn't sold them yet duh !! Or did you think the developer build the whole building with all the condo's to live there himself ?? Owned but not lived in ?? So he gives them away for free for people to live in ?? 

 

Sorry you took it so literally. I wasn't actually asking what unsold means, I was more asking the guy how does he know what's unsold. (what does he mean by unsold, can he elaborate, how does he know etc)

As I said, developers dont often disclose that information. I know guys that sell real estate here and even they dont know how much of a building is sold.

[Blumpie]

1 hour ago, Surelynot said:

Dodged a few bullets there.....sticking to my mantra.....never buy....only rent.

When it comes to countries like Thailand?  Absolutely!  I wouldn't want to be stuck there with their rip off scheme, agenda of goal posts that move 180 degrees or completely disappear.  

If you buy a condo or anything there, be prepared to throw your money away.  

[Blumpie]

2 hours ago, Rael007 said:

Looking out for how things will be later this year or even next year, but as far as right now is concerned, speaking from personal experience:  

 

I have a great condo in a desired area of Bangkok.  It's in excellent condition and currently unoccupied though fully furnished.  I've owned it for five years and I'm now trying to sell it for a VERY reasonable price.  It is being marketed on many different websites and I've enlisted several agents.  Yet, there has been zero - that's ZERO - interest.  (which is more or less what I expected in the current climate).

 

So if this is a "golden opportunity" for those looking to get nice condos in nice areas for good deals - I've yet to experience that.   I think this is a lot of PR spin.  Like, "Come to the Fyre Festival; it's going to be the greatest music festival ever!"

The biggest problem is the rip off culture in Thailand.  These guys will watch you sit for years rather than pay fair market value.  

I just never got into the mantra of buying.

Hope your place sells, when this lockdown ends things will hopefully get better and it will move at whatever price.  

[BostonRob2]

Depressed times can have heightened risk but that is what makes them great times to spend and invest. Only the clueless, or those who have no money, disagree. 

[Blumpie]

5 minutes ago, BostonRob2 said:

Depressed times can have heightened risk but that is what makes them great times to spend and invest. Only the clueless, or those who have no money, disagree. 

That's a somewhat childish statement.  

I'm up 40 percent in the oil and gas stocks right now, and I spent and bought near the bottom.  Part luck part, but also skill in keeping liquidity.  If I were to buy in Thailand I would never make back 40 percent, let alone break even.

I would never, never, never buy a place in Thailand.  That's my personal choice.  If people end up retiring there, and it works for them then I really don't care, nor are they necessarily stupid.  

The point being, after seeing so many, many, many people lose their shirts, life savings, etc. in that place is I'd never in my life invest anything there unless I wanted to say goodbye to it.  If someone did invest there and it worked out for them I'd be happy for them but I doubt it would happen.  

 

[GreasyFingers]

9 hours ago, webfact said:

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

Does he assume that foreign buyers are as stupid as he is.

[elliss]

8 hours ago, Misterwhisper said:

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

 

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."

 

        Correct . 

          May i   add .

        The new build houses,  remain unsold , some 5 years .

        Yet , more are built , to gain dust .

        Is there a reason / motive , for this madness..

      

 

 

 

 

[Rocking Robert]

3 hours ago, robsamui said:

I rather think 'renting a condo' is a predominantly American (and Russian) thing: while they seem to think it's quite normal to be squashed up in a shoe box that's one tiny unit inside a giant rabbit hutch, Brits and Europeans would much rather take a house rental.

In Bangkok I rented a 3-floor 3-bed townhouse for 30K a month; in Pattaya I had a 2-bed bungalow for 10K, and on Koh Samui I now have a lovely Thai-style concrete and wood house in the middle of grassland and trees - nearest neighbour 60 metres away - for 6,000B All house were/are modernised and at a fraction of the price of renting a condo.

Buying a condo? What percentage of owners/buyers are Thais? This is very much a farang thing and what with the mess that the USA is in (and will be for the foreseeable future) and the shaky stability of the ruling junta in Thailand (plus a Baht which looks unstable, too) I can't see anyone rushing to snap up a condo 'bargain' for a very long while to come.

I think it's a sign of increasing desperation that the govt is making insane tourism predictions almost every other day, completely unworkable schemes are being proposed with laughably-similar regularity, and now this - 'condo-sale-silliness'. 

 

The only thing that's consistent across all these pie-in-the-sky hopes and silly schemes is that, in all cases, the Thai administration has no idea at all that their precious tourist income isn't going to return for very many years . . . because it has no idea at all what life is now like for people living outside of Thailand.

 

They just can't grasp the thought that although many farangs might want to come/return to Thailand, they're mostly not able to. Unemployment, reduction of income, furloughs, travel restrictions, mismatched quarantine restrictions (out and back) increased international flight prices, family concerns, and an uncertain future with new regulations being imposed all the time as nations ride-out new Covid waves . . . these are all now piling up on the table.

(Not to mention the utter lack of care and concern for pollution and the destruction of the environment that the Thai people traditionally display - huge areas of Thailand are now unfit to live in.)

 

But all the Thais can blindly think of is 'grab grab grab gimme gimme gimme'.

Why the hell are you living in Thailand. 

[herfiehandbag]

7 hours ago, simon43 said:

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

Wouldn't need aircon though...

[MasterBaker]

cannot wait to invest in 250,000 baht/m2 studio at Bangna

[SouthernMan3]

9 hours ago, BritManToo said:

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)

I am sorry for you that you ended up somewhere that isn't working for you.

I am and have been located in an extremely rural farming community in the south for decades.

Basically no falang. 

Here is what I have observed in the recent past.

Rubber and palm prices were high.

Many people bought new cars, houses and gardens (mostly with mortgages).

Then the bottom fell out of those extensively predominant commodities.

Now we had MANY Thais in debt and responsable for interest payments with their incomes drastically slashed.

Then came COVID.

Please remember that this Is just one story.

There many more in the business sector.

Properties of all kinds are affected as many jobs were lost.

Now, many many Thais are in debt.

They want out !

There are lots of really nice places near me for great deals.

Just remember, if you don't speak Thai areas like this are a bit difficult to navigate.

One more thing. No girl bars or falang food  restaurants like in Phuket or Pattaya.

A very peaceful and plentiful bounty of fresh food.

Fish, fruit and even organic veggies which we also grow for ourselves.

Smiling people kap ????

I am blessed kap????

Good luck my friend.

 

I would explore other issues but I think that I have ramble typed enough for now kap

 

 

[crazykopite]

Yet more BS

[robsamui]

1 hour ago, Rocking Robert said:

Why the hell are you living in Thailand. 

Simple: all the everyday Thai people are delightful - shy, friendly, big-hearted and curious about farangs. It's the administration I was talking about (but you didn't read that closely, scanned what I wrote and picked up on only the last three lines ????.)

 

Plus the nation is comparatively cheap (still) and has a warm, sunny climate.

 

Not to mention that in Bangkok I rented a 3-floor 3-bed townhouse for 30K a month; in Pattaya I had a 2-bed bungalow for 10K, and on Koh Samui I now have a lovely Thai-style concrete and wood house in the middle of grassland and trees - nearest neighbour 60 metres away - for 6,000B . . . I can't imagine why anyone would want to BUY (and live in) a condo.

Enough good reasons to keep me here for 25 years, anyway.

Edited April 2, 2021 by robsamui

[hugocnx]

Like with so many things these days people are conned with open visor. Do 'they' really think people are that stupid? 'They' includes me so I don't get conned.

[itsari]

13 hours ago, ThailandRyan said:

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

Available properties unsold is enough to see the urgency in the present situation in the Thai economy . Of course you can add that areas are over developed but that is not the root cause .