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When is the right time to buy property in Bangkok?


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Posted
On 6/15/2021 at 4:46 PM, spidermike007 said:

friend of mine recently moved to Pattaya. He looked at condos in Jomtien. He walked into one of the nicest towers, looked at a 36th floor unit with panoramic views, and when he was quoted 28,000 a month, he offered 10,000. They settled on 13,000. He said the agent more or less admitted the building was nearly empty, and they could not rent or sell anything, at this time.

Which condo building was that?

Posted
12 minutes ago, Liverpool Lou said:

Which condo building was that?

Sorry for my ignorance but which part of Bangkok, the gist of this thread, is Jomtien  as I always thought that was in in Chonburi ? As for the right time to buy in Bangkok then in my view there will never be a right time as time is running out for a city that by the end of this century will be flooded to a significant degree, unless that is you are gambling on having waterfront properties. But then do you disagree with the environmental experts ?

Posted
1 minute ago, spidermike007 said:
55 minutes ago, Liverpool Lou said:

Which condo building was that?

Virtually all of them.

Thought it sounded like a good deal, makes it a bit easier looking for one than looking at all of them.   Sorry I asked.

Posted
1 hour ago, Excel said:

Sorry for my ignorance but which part of Bangkok, the gist of this thread, is Jomtien  as I always thought that was in in Chonburi ? As for the right time to buy in Bangkok then in my view there will never be a right time as time is running out for a city that by the end of this century will be flooded to a significant degree, unless that is you are gambling on having waterfront properties. But then do you disagree with the environmental experts ?

 

Quite frankly by the time it reaches the next century i will of been gone 50 years, my children 30 years etc etc, not buying because something my of flood in 80 years is laughable.

  • Like 2
Posted
2 hours ago, spidermike007 said:
3 hours ago, Liverpool Lou said:

Thought it sounded like a good deal, makes it a bit easier looking for one than looking at all of them.   Sorry I asked.

 

It is the Riviera.

Thanks, appreciated.

Posted
On 6/15/2021 at 10:30 AM, NCC1701A said:

for now, just worry about crossing the street. 

Don't worry. Submarines will sort this out. They pick you up at your front door and drive you over to the other site of the river or maybe straight down from BKK to HuaHin

Posted
On 6/15/2021 at 2:02 PM, Acharn said:

You know you've lived in Bangkok too long when you look both ways before crossing the sidewalk.

I even look up. Someone could fall from the sky (balcony).

Posted

The fact that many developers keep building in Bangkok and that many people keep buying properties (leaving aside the, hopefully temporary, Covid decline) does not necessarily mean that Bangkok won't be under water in the not so distant future.

 

We already know that the Thai government isn't proactive, they would "simply" move the capital once it's inevitable. And let the private sector fend for itself, with a little handout here and there. Same as with the Covid crisis.

Posted
9 hours ago, wordchild said:

There should be no fundamental reason why a well constructed and well maintained condo should lose value over time eg look at the many beautiful Manhattan co-ops which still look great 80 years after they were built.

Absolutely! Owned a 1-bed 1-bath condo in a 1920s building in the US. Beautiful hardwood floors, high ceilings, thick walls, old style heating that would rumble occasionally. Loved it. Only problem was it was ground level so of course I got burgled.

 

And I rent here in a well-maintained highrise built early 90s. Have had guests sneer at its age but, jeez, I wouldn't move if you paid me to newer buildings I saw when I was thinking to buy. Shoe box sized, cheap fittings, including one with a bathroom with a plastic bathtub that was asking millions.

  • Like 2
Posted

To be fair, you're asking people on here and 99.99% are just purely speculating, might as well flip a coin. Even if someone sounds smart, unless it's what they actually spend time doing it or making money off of, should be taken with a grain of salt. 

 

Ideally go hang out around places where successful Thai real estate agents do in FB groups or wherever that is.

Look at what big companies or successful real estate moguls are doing, are they buying many condos or selling now? And if so, why? which places? what are they doing within your area you wanna buy a condo at? And so forth.

 

Only advise you should take from this thread is personal experiences, nothing else.

 

 

Posted
1 hour ago, realfunster said:

 

An owner renting out a property at a large discount is very different from an owner selling at a large discount. One provides at least some rental income during a difficult time, the other realizes a permanent capital loss.

 

Sure there will be the occasional fire sale, but as a general rule, I think you will be waiting until hell freezes over before you get a 30%+ sales discount. 

Just wait. I think this will be a worldwide phenomenon. Certain segments of the economy (the stock markets, some real estate markets in the US and Europe) are so over heated, they are due for a massive correction. And you can keep an economy cranked up on speed, with massive debt, and little to no interest loans, but eventually that is going to come down like a ton of bricks. Just wait. 

 

And the ramifications of the tourism sabotage taking place, in addition to the massive economic slowdown here, are going to be felt for many years to come. 

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