Foreigners raring to buy condos in Thailand - Bangkok most popular in searches - but late 2022 for recovery

[webfact]

Picture: Daily News

 

Daily News published the opinions of an analyst from Krung Thai Compass regarding the Thai condo market.

 

Kanit Amsakun said that the Thai condo market will expand when foreigners can once again return to Thailand.

 

He said this was evidenced by Google Trends; searches showed huge interest especially from prospective Japanese and Chinese buyers. 

 

Most popular and desirable areas are in Bangkok and the metropolitan area with Sukhumvit, Sathon and Asoke topping the list.

 

Behind these perennial favorites are Rama 9 and Rachada.

 

These benefit from being close to the BTS and having other infrastructure popular with foreigners, said Kanit.

 

The Ramkhamhaeng, Udom Suk - Bearing and Bang Sue areas are less popular with foreigners. 

 

Sukhumvit, Sathon and Asoke are most popular with the Japanese because of Japanese shops and facilities that cater to the Japanese in those areas.

 

For the Chinese it is Rachada and Rama 9 with proximity to Chinatown Huay Khwang  and the Chinese Embassy. 

 

Outside Bangkok the recovery will be led in tourist places like Chonburi (Pattaya), Phuket, Chiang Mai and Prachuap Khiri Khan (Hua Hin).

 

These show more interest from foreigners than in other provincial areas because they are tourist friendly. 

 

But Kanit sounded some words of caution among the bullish sentiment noting that foreigners are exhibiting more caution than before in purchases of expensive items like condos. 

 

They are insisting on site visits and these have been largely impossible during the pandemic. 

 

He expected the foreign led recovery in the condo market to only pick up steam in the second half or late 2022. 

 

-- © Copyright  ASEAN NOW 2021-08-10

 

- Whatever you're going through, the Samaritans are here for you

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[xtof2]

Analyzing the real estate market not by sales but by Google searches…. Amazing !

[gk10012001]

Hope springs eternal in the human breast. It is possible Thailand will get back to some sense of normalcy next year, or not too far in the near future.  It is also possible things will degrade further.  There has always been a ton of foreign money that moves in to Thailand when people sell out.  Look at all the bars in Thailand that change owners every year.  One guy busts out, another guy buys in.  There are literally a million millionaires in the world that could pluck down $100,000 or $200,000 USD into a very nice condo in Thailand, and they would not worry or care too much if the purchase went bust.

[Denim]

19 minutes ago, webfact said:

searches showed huge interest especially from prospective Japanese and Chinese buyers. 

What a surprise.  

[NicholasTH]

[worgeordie]

So can the condo builders take this report to the bank, "Don't

worry its reported sales are going to boom...in late 2022 ", can

you wait a little longer for repayments.

regards worgeordie

[RotBenz8888]

1 hour ago, webfact said:

Chinatown Huay Khwang 

There is no China town in Huai Khwang, if that was the case we would have heard it, literally. 

[tomazbodner]

1 hour ago, webfact said:

The Ramkhamhaeng, Udom Suk - Bearing and Bang Sue areas are less popular with foreigners. 

I hope it stays this way...

[brucegoniners]

What a bunch of BS!

 

The property market is dead as a doornail in Thailand and will be long after the pandemic is over I'm afraid.

 

People have seen what something like this does to a market. You would have trouble giving a condo away right now.

[IamNoone88]

Genius. The market will improve when the buyers return. An expert opinion! He should be in Gov't. 

[rupert the bear]

what is this?i want to sell my condo as im so sick of this place but cant.we all know why.the thais dont.this is not a pleasant place to stay in regards to having rights and respect or even a guarantee you can live here.everythings hassle in regards to visas property and so on.there are many other better options,many countries you live a few yrs you have residency ,are part of the health system ,can vote locally etc,thats what needs changing.i personally cant see thailand ever recovering fully,it will be grabbed by china,they already have the govt in the palm of their....wallet.theyll swarm the place as they were doing before covid and they brought covid with them no matter what WHO or CNN tell u.when will it open too,thats another bad joke,look at whats in front of anutin the racist incompetent and the PM aghhh lets not go there

[RichardColeman]

I own a house in a town along the river Thames, UK, very quaint town. I look to see the value of properties in my town - and thereby a rough gauge of my own property - at least 2-3 times a week. It does not mean I want to BUY or sell.

 

I also regularly look at housing up north in the UK to move the family over one day - to see the huge difference in value for money, etc. Does not mean I want to BUY yet.

 

Point being, many people will be looking at prices to sell their property and to see the value of their property, even downsizing, basing an assumption on searches is just ludicrous !

 

[Rookiescot]

People searching does not equate to actual sales and property values.

Perhaps this analyst could base his speculation on how the market is currently behaving.

[Guderian]

Well, it is currently the silly season in journalistic terms, so I suppose this nonsense is just par for the course, lol.

[jacko45k]

You see, it isn't just the people at TAT smoking the funny stuff....

[malathione]

Oh yeah I'm raring alright. Just not in Thailand.

[riverhigh]

Raring meaning: If you are raring to go, you are “full of enthusiasm and eagerness.” 

 

What enthusiasm or eagerness can any freigner have in investing in the Thai real estate market? High vacancy rate, poor governance, horrible immigration laws, military government, the list goes on.

[EdrigoSalvadore]

27 minutes ago, brucegoniners said:

What a bunch of BS!

 

The property market is dead as a doornail in Thailand and will be long after the pandemic is over I'm afraid.

 

People have seen what something like this does to a market. You would have trouble giving a condo away right now.

I am looking to make some purchases, but didn´t barely noticed any price reductions in the high end buildings.

Edited August 10, 2021 by EdrigoSalvadore

[MasterBaker]

it's so bad that fake news are not banned anymore

[BobinBKK]

1 hour ago, webfact said:

Sukhumvit, Sathon and Asoke are most popular with the Japanese because of Japanese shops and facilities that cater to the Japanese in those areas.

 

For the Chinese it is Rachada and Rama 9 with proximity to Chinatown Huay Khwang  and the Chinese Embassy. 

Facilities that cater to the Japanese being karaoke bars (brothels) perhaps?

 

Facilities that cater to the Chinese being soapy massage parlors (brothels) perhaps?

[timmyp]

Raring to buy means rarely buying?

[wombat]

 Raring to buy and salivating at the starting gate.....the daily dose of optimism from the hub of optimistic optimism.
Meanwhile with double digit inflation predicted....  

Edited August 10, 2021 by wombat

[klauskunkel]

1 hour ago, webfact said:

the metropolitan area with Sukhumvit, Sathon and Asoke topping the list

been topping the list since 30 years...

[SCOTT FITZGERSLD]

investment in real estate in thailand has not given nice returns over the

past 10 years.

the ROI might be even negative in hard currency like USD or EUR.

[3NUMBAS]

dirty money always needs a home

[Olivie]

2 hours ago, webfact said:

He said this was evidenced by Google Trends; searches showed huge interest especially from prospective Japanese and Chinese buyers. 

Did someone explain him that chinese CAN NOT use Google...?
So how can he find that chinese are looking for candos on Google?

[The Cipher]

Quote

The property market is dead as a doornail in Thailand and will be long after the pandemic is over I'm afraid.

 

People have seen what something like this does to a market.

For sure. That would explain why property markets in other places hard hit by the pandemic have also been so depressed this past yea....oh, wait.

[samtam]

22 minutes ago, Olivie said:

Did someone explain him that chinese CAN NOT use Google...?
So how can he find that chinese are looking for candos on Google?

Can with a VPN, the last time I tried.

[natway09]

Hang on,  give the guy a break, he was maybe referring to 2025 

Could happen 

[kwak250]

Amazing thailand just after a report saying foreigners are scared to go out after the recent murder they seem to think everyone who comes back will be wanting to buy a condo!

 

Must admit i do like to be more optimistic than most people but come.

 

More chance of Messi signing for Chonburi fc next season.