Anyone trying to sell condo?

[bkk6060]

With the weakening baht those trying to sell are losing money almost everyday.

If you bought in Dec 2020 or around that time or even at points over the past year, your property value is down 10% due to the weaker baht.

Add the current situation, probably at least another 10% or much more.

 

Forecasts show it continuing to weaken into 2022 so if a buyer, I would wait and see.

If a seller, good luck.

 

[Ralf001]

5 minutes ago, bkk6060 said:

With the weakening baht those trying to sell are losing money everyday.

If you bought in Dec 2020 or around that time or even at points over the past year, your property value is down 10% due to the weaker baht.

Add the current situation, probably at least another 10% or much more.

 

Forecasts show it continuing to weaken into 2022 so if a buyer, I would wait and see.

If a seller, good luck.

 

Please excuse my ignorance but how does a weakening baht devalue a property ?

 

 

[Salerno]

25 minutes ago, Ralf001 said:

Please excuse my ignorance but how does a weakening baht devalue a property ?

If keeping your money in Baht it doesn't; if selling to repatriate/move to another country then it is a consideration. 

[Yellowtail]

26 minutes ago, Ralf001 said:

Please excuse my ignorance but how does a weakening baht devalue a property ?

The argument would be that it worth less in one's "home" country. 

 

The same argument can be made that this makes renting more affordable/attractive. 

 

One could also argue that your property becomes more valuable and renting less affordable/attractive when the baht weakens. 

 

These are not arguments I would make.

[Yellowtail]

And one could also make the argument that a weak Baht will drive inflation, and that real property is a good hedge against that. 

 

Anyone that knows how currencies will move would be so incredibly wealthy that it is not likely they would be writing reports about their projections.

 

People writing reports about their projections make their living writing reports and making projections, not by investing in currencies. Why do you suppose that is? 

[clivebaxter]

1 hour ago, ExpatOilWorker said:

This Jett Gunther actually come across as a knowledgeable agent.

He's not the agent just a presenter on the Thaiger

[KarenBravo]

1 hour ago, bkk6060 said:

With the weakening baht those trying to sell are losing money almost everyday.

If you bought in Dec 2020 or around that time or even at points over the past year, your property value is down 10% due to the weaker baht.

Add the current situation, probably at least another 10% or much more.

 

Forecasts show it continuing to weaken into 2022 so if a buyer, I would wait and see.

If a seller, good luck.

 

Doesn't that all depend on whether the proceeds will be kept in Baht, or repatriated?

[Yellowtail]

38 minutes ago, KarenBravo said:

Doesn't that all depend on whether the proceeds will be kept in Baht, or repatriated?

Mostly it depends on whether people are renting.

[Ralf001]

4 minutes ago, Yellowtail said:

Mostly it depends on whether people are renting.

renting my property out devalues it ?

[Yellowtail]

35 minutes ago, Ralf001 said:

renting my property out devalues it ?

I guess that would depend on your property, your agreement and your tenants. Why are you asking me?

[Ralf001]

15 minutes ago, Yellowtail said:

I guess that would depend on your property, your agreement and your tenants. Why are you asking me?

well you mentioned renting.

[Yellowtail]

1 minute ago, Ralf001 said:

well you mentioned renting.

As did any number of other people in the thread yet for whatever reason you chose to ask me.

[OneMoreFarang]

If anybody owns property in i.e. the USA. Do these people think the they are richer or poorer because the exchange rate to some other currency changes? Obviously not!

Property is valued wherever it is, in Thailand in THB and in America in USD.

And currency exchange rate are something different. Why do some people try to mix this together?

[Yellowtail]

18 minutes ago, OneMoreFarang said:

If anybody owns property in i.e. the USA. Do these people think the they are richer or poorer because the exchange rate to some other currency changes? Obviously not!

Property is valued wherever it is, in Thailand in THB and in America in USD.

And currency exchange rate are something different. Why do some people try to mix this together?

Because it seems to be important to some renters to make any case they can against buying, regardless of how ridiculous it it. 

[chrisandsu]

On 7/17/2021 at 8:03 PM, OneMoreFarang said:

If anybody owns property in i.e. the USA. Do these people think the they are richer or poorer because the exchange rate to some other currency changes? Obviously not!

Property is valued wherever it is, in Thailand in THB and in America in USD.

And currency exchange rate are something different. Why do some people try to mix this together?

As the above poster said . It matters a lot if you are repatriating . 

[KaputtAlreadyNa]

On 7/10/2021 at 5:32 PM, OneMoreFarang said:

That reminds of of that quote with the part: "and give me the wisdom to know the difference"

" the courage to change things that I can and the strength to accept the things that I can't "

Warmest

[OneZero]

7 hours ago, KaputtAlreadyNa said:

" the courage to change things that I can and the strength to accept the things that I can't "

Warmest

Serenity Prayer:

God grant me the Serenity to accept the things I cannot change, the Courage to change the things I can; and the Wisdom to know the difference.

 

[JustAnotherHun]

On 7/18/2021 at 5:03 AM, OneMoreFarang said:

And currency exchange rate are something different. Why do some people try to mix this together?

Because they are foreigners and they bought their condos with GBP/USD/Eur. For every investment outside your home market the exchange rate is essential, no matter what you buy.

 

If you plan to stay in Thailand forever, then the exchange rate is as irrelevant as it is for Thai nationals. A strong THB just may make selling a bit more difficult because there are less foreign buyers.

 

[Yellowtail]

15 minutes ago, JustAnotherHun said:

Because they are foreigners and they bought their condos with GBP/USD/Eur. For every investment outside your home market the exchange rate is essential, no matter what you buy.

 

If you plan to stay in Thailand forever, then the exchange rate is as irrelevant as it is for Thai nationals. A strong THB just may make selling a bit more difficult because there are less foreign buyers.

 

So owning a condo is like a hedge against one's home currency going south, yes?

[JustAnotherHun]

On 7/20/2021 at 9:37 AM, Yellowtail said:

So owning a condo is like a hedge against one's home currency going south, yes?

No ????

[Yellowtail]

3 hours ago, JustAnotherHun said:

No ????

You guys crack me up...

[HashBrownHarry]

On 7/20/2021 at 7:21 AM, JustAnotherHun said:

Because they are foreigners and they bought their condos with GBP/USD/Eur. For every investment outside your home market the exchange rate is essential, no matter what you buy.

 

If you plan to stay in Thailand forever, then the exchange rate is as irrelevant as it is for Thai nationals. A strong THB just may make selling a bit more difficult because there are less foreign buyers.

 

Thais buy property in Thailand too, you do realise that, right?

[Jingthing]

9 minutes ago, paul paquin said:

I'm actually looking to buy a condo in Thailand, how's the market expensive or cheap? In US it's super expensive right now but at least in the US there are debt relief programs.

It's a buyer's market on steroids here for condos.

Make a ridiculous offer. It might be the only offer the seller gets. 

[fredscats]

3 hours ago, Jingthing said:

It's a buyer's market on steroids here for condos.

Make a ridiculous offer. It might be the only offer the seller gets. 

Thank you Jingthing...correct.    For a seller the hunt is on for an idiot with money,there are a few around,fresh off a banana boat type,that compares home market with Thai market and thinks WOW.

 Not just condos but houses,loads of em up for sale/abandoned,not just loads but mega loads,1997 was mentioned from Thai journalist recently,as a sure fire certainty

The same advertising junk poured forth from sellers,the agents especially,more "likes" than a conjurer could magic up for some properties,250 " likes"and more on properties on Marketplace,not a buyer in sight

 

For a recent buyer to realise he has been taken a year or so down the road must be suicide fodder

 

Is not just buying,its what happens later,unsold condos especially,blight sets in,unsold ,pay no maintenance ,security,cleaning /pool too , not functioning,it just builds up,Spain is full of it, will happen here

[fredscats]

8 hours ago, HashBrownHarry said:

Thais buy property in Thailand too, you do realise that, right?

At Thai prices which are a fraction of farang price

[Yellowtail]

5 hours ago, Jingthing said:

It's a buyer's market on steroids here for condos.

Make a ridiculous offer. It might be the only offer the seller gets. 

"Here" being greater Pattaya perhaps, Bangkok? Not so much.

[Yellowtail]

2 hours ago, fredscats said:

At Thai prices which are a fraction of farang price

For example?

[Jingthing]

1 minute ago, Yellowtail said:

"Here" being greater Pattaya perhaps, Bangkok? Not so much.

OK.

[Pravda]

28 minutes ago, Yellowtail said:

For example?

 

Perhaps you are not aware that every condo development has Thai quota and Farang quota.

 

I can show you some line chats with agents where they say the price of 3.9mb was for Thai nationals only. The only room we have now for Farang is 5.09mb. When I tell them my wife will be taking a loan then the room for 3.9mb is indeed available.

 

Here... I picked a fuuny one for you

 

[fredscats]

29 minutes ago, Yellowtail said:

For example?

where I am for starters,next door,then to them,across road The star place must be 7 Seas,the lot must be for sale as hundreds for sale,well according to sales pitch as all the last batch of sellings had 300 plus of likers  (all Thai)  lol

 

but then magnify that by a few (hundred) thousand ,and that is just Pattaya,