Domestic buyers snapping up properties in Thai resort destinations

[Pedrogaz]

I'm going to shoot down a pigeon and examine its entrails to see if Brennan Campbell is telling the truth. Somehow I find it difficult to believe someone whose first name is a surname, and then there is the Irish Scottish thing....it's a sort of wannabe movie star's name.

 

Yup, as I thought, the bird's entrails are telling me to wait for a better price.

[Bluespunk]

3 hours ago, sucit said:

Smart money realizing pattaya as a hub is most likely over. 

 

3 hours ago, Jonathan Fairfield said:

FazWaz co-founder and CEO Brennan Campbell said: “By tracking the data from 2Q2020 to mid-2021 on buying motivation of either a holiday home or for investment purposes, we can see a change in behaviour towards lifestyle purchases in Phuket, Koh Samui and Pattaya

 

Edited July 25, 2021 by Bluespunk

[hotchilli]

4 hours ago, Jonathan Fairfield said:

Resort properties in Thailand’s leisure destinations are seeing surging interest from domestic home buyers over the course of the pandemic.

The richest are cashing in on properties, ready for the return to normality in a year or two.

Good investment now for those with funds.

[Heng]

Yeah, all wealthy Thais are so bad.  So evil.  Bad.   *whips servant sabotaging my Roomba again*

 

But seriously anyone who is locked down in BKK and can afford it is looking into out of town properties where they can breathe freely for future situations like these.   

[RichardColeman]

4 hours ago, ChipButty said:

You are right Im in a few of them property groups on FB and I even know a few so called agents, nothing seems to be happening where I live some rentals thats about it

You and me both. All I see on FB  is rents going down to like 5,000 a month for large condos and super sales that nobody buys where they are knocking off 100,000's baht

[mokwit]

This gets me. All over the world people have lost their business/livelihood from complying with Government mandated measures whereas others, not affected, are capitalizing on it and snapping up the bargains. I repeat this, was Government mandated.

[crazykopite]

Nobody has come knocking on my door and I have a beautiful beach villa with a separate guest apartment so this story is total BS

 

Edited July 25, 2021 by crazykopite

[Mac Mickmanus]

12 minutes ago, mokwit said:

This gets me. All over the world people have lost their business/livelihood from complying with Government mandated measures whereas others, not affected, are capitalizing on it and snapping up the bargains. I repeat this, was Government mandated.

It seems like the Estate Agency was just trying to drum up some buiness and self publicity . 

   I dont think that its a good idea to form a opinion about a World Wide epidemic based on that a Hua Hin  Estate Agent says 

[bermondburi]

One noticeable thing about HH compared to places like Phuket or Samui is how well it's survived in comparison during C19. This is only due to proximity to Bangkok. Yes, some businesses have closed but not that many really.

 

I would think that HH will come back strongly after the pandemic. The new dual track railway will be running at some point making it easier to get to, still plenty of reasonably priced property as you head southwards from HH towards Pranburi.

[trainman34014]

They used to buy Properties in the North on Moobahn's to launder their illgotten gains but looks like the dirty money is now moving South !

[ukrules]

3 hours ago, grantbkk said:

I don’t want to say the author of this piece is lying and that this is simply just another real estate puff piece rolled out every week on a set schedule. 
 

However, this is just BS and not even close to being true at least in this dimension. 

I suspect it's based on increased website traffic. Lots of people will have come looking for bargains.

 

There are none, they continue searching (more increased web traffic) - there still are none, then they click 'the X'.

 

[sandyf]

1 hour ago, RichardColeman said:

You and me both. All I see on FB  is rents going down to like 5,000 a month for large condos and super sales that nobody buys where they are knocking off 100,000's baht

This company has put up 2 huge housing developments, Mornington Hill and Mornington Green, just a few hundred yards from our house. There has been no let up during the pandemic and being occupied as fast as they are built.

https://morningtongroup.com/mornington-grand/

[jacob29]

5 hours ago, sucit said:

Smart money realizing pattaya as a hub is most likely over. 

It could go either way. If work from home sticks, and we get a surge of wealthy IT remote workers, places like Pattaya could do very well.

[shortstop2]

I suspect we won't see the real estate bottom until after people can come to Thailand with no Covid restrictions yet people still don't come.

 

The Chinese ares the elephants in the room though.   They are the only possibility to revive the market.

Edited July 25, 2021 by shortstop2

[Mac Mickmanus]

46 minutes ago, sandyf said:

This company has put up 2 huge housing developments, Mornington Hill and Mornington Green, just a few hundred yards from our house. There has been no let up during the pandemic and being occupied as fast as they are built.

https://morningtongroup.com/mornington-grand/

Mornington Hill was completed in 2017 and they are still trying to sell houses there 

 

https://www.home.co.th/home/mornington-hill-7045

[ChipButty]

Around where I live Ive seen villa's on the market for years I know of one now for the last 5/6 years it's been on the market I think they have given up trying plus not being able to get back here

[Almer]

5 hours ago, Mac Mickmanus said:

What line of business is he in ?

Repo 555

[Peterphuket]

All lies, look for example this project, 95% for sale for more than 2 years, in Chaam.

[ChipButty]

14 minutes ago, Peterphuket said:

All lies, look for example this project, 95% for sale for more than 2 years, in Chaam.

Looks like one of them ghost cities in China 

[Benmart]

More propaganda from a source that begs transparency.

[spidermike007]

This is likely misleading, and possibly inaccurate. Just because some industry insiders report an "uptick in interest", does not mean that translates into actual sales. Everyone I am talking to in the industry, is saying the same thing. It is dead as a doornail.

 

The property frenzy in the US is being fueled by many trillions in cash, that was infused into the economy, and unsustainably low interest rates. That market will come crashing down like a house of cards. And there is no connection between the fundamentals of that market, and Thailand. None. 

[kimamey]

8 hours ago, mikebell said:

I don't believe this propaganda from 'Housing experts'.  Daily on FB Marketplace I view dozens of properties up for sale.  Agents of real estate have always talked up prices.  There will be a few well-heeled buyers snapping up cheap properties but the overwhelming supply of For Sale notices on businesses and housing gives the lie to  this 'survey'.

It sounds as if it's a shift in buyers from international to domestic rather than an increase in sales as such.

 

Pretty much what I'd expect.

[csmith]

Just to check the accuracy and premise of this post …. and as research I'll ask. (I'll report back)
Anyone want to buy a house and Land in Chiangmai? ????

 

 

 

 

[Dogmatix]

12 hours ago, ThailandRyan said:

Money begets money and only those that have can obviously buy.  Not your typical run of the mill family who is living day to day now because of Covid where before covid they would have had extra money to invest.  Must be all of the Hi-So's or those acting at the behest of others.

Mrs Dog got a call from a woman of her acquaintance asking to borrow money today.  The poor soul lost her livelihood upcountry due to COVID and came to Bangkok looking for work.  She found a job in a coffee shop but was sacked after two weeks because she got an undiagnosed fever that may or may not have been COVID but too difficult to get tested to find out.  Now the shop is closed anyway. She has a son in primary school and husband ran off with another woman. Of course she lent her some not expecting to get it back.  This is the lot of the average Thai now. Suicides are already on the rise and will get worse.

 

Sad times for Thai people who have an unaccoutable government that doesn't care.  Who cares about a couple of farang real estate brokers desperately talking up their own books before they get taken out in body bags? 

Edited July 25, 2021 by Dogmatix

[taxin]

“By tracking the data from 2Q2020 to mid-2021 on buying motivation of either a holiday home or for investment purposes, we can see a change in behaviour.”
 

OK so these real estate agents now are so smart they can sense the emotions of each buyer. Amazing, not only are they experts in the real estate industry, they are also psychologists !! Haha 

[Airalee]

12 hours ago, sandyf said:

This company has put up 2 huge housing developments, Mornington Hill and Mornington Green, just a few hundred yards from our house. There has been no let up during the pandemic and being occupied as fast as they are built.

https://morningtongroup.com/mornington-grand/

Looks like a lovely neighborhood on Google street view.  
 

Do you live down towards the auto body shop or the other way with the yard full of used truck canopies for sale?

[bangon04]

13 hours ago, bermondburi said:

One noticeable thing about HH compared to places like Phuket or Samui is how well it's survived in comparison during C19. This is only due to proximity to Bangkok. Yes, some businesses have closed but not that many really.

 

I would think that HH will come back strongly after the pandemic. The new dual track railway will be running at some point making it easier to get to, still plenty of reasonably priced property as you head southwards from HH towards Pranburi.

Hua Hin has long had an upmarket kudos with the hisos - because of the Royal connection (palace etc). I wonder if this is still a factor?  It was always a different world from the Pattaya/Phuket universe...

[gk10012001]

Of course people and companies or groups will be buying things up.  Will it pay off, and if so in what timeline?  One million USD is not hard to come up with here in the USA by thousands of individuals, never mind small groups of people that pool their resources.  Not even counting what some banks or other institutions may decide to pony up.  And that is the same all over the world where there are literally millions of people able to invest in Thailand.  Will they?  Do they have some special insider information or are they speculating?  To me, at my retirement age I do not need to take any such risk, as tempting as it may be.  So many wild cards in Thailand between immigration, court system or lack there of, legal protection, mafia expected bribes, corrupt cops, corrupt health or business license agencies, etc.  Owned businesses in the USA and there are a lot of alligators in the moat.

[HashBrownHarry]

19 hours ago, Henryford said:

Great time for the rich to snap up assets at bargain prices.

You don't need to be rich, only shrewd.

[HashBrownHarry]

19 hours ago, ChipButty said:

You are right Im in a few of them property groups on FB and I even know a few so called agents, nothing seems to be happening where I live some rentals thats about it

Avoid agents, the deals are there....with more to come!