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

[bougnat]

Buying a condo in bangkok, are the canoe and boots planned?

[Magenta408]

Japanese, Hong Kong, Taiwan and PRC will buy and at a fury. The moment these protests settle down a bit, buyers will come in. 

[ukrules]

People are looking for bargains that aren't there....

[tonray]

1 hour ago, RotBenz8888 said:

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

There certainly are lots of Chinese though

[A Los for words]

Change the headline to :

 

Foreigners raring to buy vaccines in Thailand - Pfizer most popular in searches - but late 2022 for injection

[amdy2206]

Such misleading headlines!!! I really don't know what they are trying to promote - certainly very little actual facts or truth. 

[Knocker33]

Probably just bored stuck in quarantine somewhere. Searching any old cr@p for something to do

[Lucky dog]

Duh

[Gold Star]

57 minutes ago, samtam said:

Can with a VPN, the last time I tried.

If a VPN was used to hide the location, how would Google know the inquiry originated from within China? Also many VPNs are forbidden, and don't work in China as far as I know.

[aussienam]

Google analytics are often used as one of several tools by investors to determine market sentiment and trends.  

 

No doubt there are people with interest in Thailand condo property prices as it is a depressed market.  Wealthy Chinese investors wanting a safe haven for their money out of the reach of the CCP is one factor.  Money launderers - go for your life.  Laundered money here is rife investing in bars, clubs, companies, condos, etc.  

 

However, I need convincing that buying property in Thailand is a good investment.  From my own regrettable experience in Pattaya as a non-commercial investor, condo prices don't tend to appreciate.  Perhaps in certain highly sought areas they may.  Japanese and Chinese investors in commercial and residential development projects are way above my humble retiree pay grade! 

 

For a large percentage of condos in places like Pattaya, they are overpriced and a depreciating asset.  Currency fluctuations, with a Thai Baht that has been very strong, also plays into the equation and even with the weakening Thai Baht, I am not interested at this exchange rate.  

 

I managed to buy my condo at a low Thai Baht exchange rate years ago and luckily sell it at a high Thai Baht rate. But I still lost money (albeit 20% less capital loss than if it was the same rate as when I bought it).  

 

Poor quality, issues with juristic, lack of owners paying maintenance fees with subsequent insufficient funds for maintenance, a building basically falling apart, led to my decision to pull the plug. 

 

Don't believe the hoards of so called 'agents' (every man, woman and soi dog here is a part time property agent at times and will lie through their teeth) who would sell their mothers if they could for the nice commissions in my opinion.  I have had bad experiences with them too. 

 

And of course the uncertainty of future governance and foreign ownership laws makes me wary too.  Renting here and investing elsewhere is very much what many legitimate investors do.  

Edited August 10, 2021 by aussienam

[nobodysfriend]

3 hours ago, webfact said:

the Thai condo market will expand when foreigners can once again return to Thailand.

A 10 year longstay Visa , ( not one that must be renewed every year ) , for every condo sold to a foreigner .

That is one way they can attract potential investors , even when all their other policies fail .

Do it now .

[GinBoy2]

So this is referencing good times.

 

We owned several units in Noble Remix, nice places and we never had a problem renting them out.

 

But at the end of the day when we sold up we broke even, no capital appreciation at all, mainly I think because of the constant overbuild in BKK,

 

Now with the rental income we got, it supplemented our income rather nicely, but it did nothing to equity.

 

Now Remix is a prime location, skybridge to Thong Lor BTS, yet still didn't acquire value. Not complaining, since we got out with our shirts intact.

 

I suspect those invested in less desirable locations can do as many google searches they wish, but the fundamentals don't change,  Way too much construction with potential buyers without cash, so google searches doesn't translate into folks plonking down hard cash

[wendyfromoz]

better start building

[tonysilly]

I tried to buy a condo on Soi 5 Sukhamvit, but the line was sooo long!! I'll try again in 2022 lol 

[Jack Cook]

More Delusion. The headline should read. Chinese rearing to buy highly discounted Condos in Thailand.

[BostonRob2]

1 hour ago, amdy2206 said:

Such misleading headlines!!! I really don't know what they are trying to promote - certainly very little actual facts or truth. 

Most people with enough money to buy a condo have increased their savings in the pandemic. The amount of money that will be flying about come next year will be staggering. There will be a boomtime. But don't expect people on this site to see that. They are old, poor miserable and out of touch with any semblance of reality. Give them a Leo and a bath chair and ignore them.

[thailand49]

Count me in as one of those doing searches but it isn't to buy I was just curious to whether the prices are dropping when and if it hits rock bottom I still might not buy but continue to search?????  I wouldn't get too excited the Chinese like me want a bargain basement deal and more will continue to search and lurk that doesn't mean we are raring to buy!

[spidermike007]

Quite a nice little bit of fiction. The writer should try their hand at a novel. 

 

Such a load of BS. The foreigners might consider buying a condo, once Covid is gone. At 60% off the asking price. Maybe. 

 

The economy here is in tatters. And anyone considering investing here is better off waiting a year or two, or five, to see how all of this shakes out. 

 

The damage to the economy is horrific. And the damage to tourism is permanent. Expect no more than 5 million tourists, five years from now. How will that lack of income affect the nation? 

Edited August 10, 2021 by spidermike007

[ArcticFox]

4 hours ago, webfact said:

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

Is Anutin growing banker-grade hopium?  I think he must be.

[BostonRob2]

9 minutes ago, spidermike007 said:

Quite a nice little bit of fiction. The writer should try their hand at a novel. 

 

Such a load of BS. The foreigners might consider buying a condo, once Covid is gone. At 60% off the asking price. Maybe. 

 

The economy here is in tatters. And anyone considering investing here is better off waiting a year or two, or five, to see how all of this shakes out. 

 

The damage to the economy is horrific. And the damage to tourism is permanent. Expect no more than 5 million tourists, five years from now. How will that lack of income affect the nation? 

The best time to invest and make money is at the tail end of a crisis. Surely you know that? You seem jaded, try relaxing and being more positive.

[Venom]

3 hours ago, EdrigoSalvadore said:

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

The baht is down almost 12% against other currencies over the last few weeks. That in itself could be considered a price reduction. I don't consider this a seller's market by any stretch. If the bottom drops out you might be able to buy as low as 50 cents on the dollar. Then condos will be selling like hot cakes! It's not a good time to be holding property in Thailand by a long shot.

Edited August 10, 2021 by Venom

[raccos21]

[monty1412]

finally an alternative to the TAT in terms of making pie in the sky, sugar coated  announcements...all we need now is for say  the Health dept to tell us they have vaccinations under control and we will have three jesters for our amusement....

 

[samtam]

1 hour ago, Gold Star said:

If a VPN was used to hide the location, how would Google know the inquiry originated from within China? Also many VPNs are forbidden, and don't work in China as far as I know.

I used ExpressVPN when I was in China and could access Google to use Google Maps.

[Fruit Machine]

3 hours ago, rupert the bear said:

...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.

My wife has just been granted settlement in the UK. The main qualification is to live here with a UK citizen, either husband or permanent partner, for five years. There is a financial requirement, however, but it's clearly defined, so fair IMO. Wife has a good job and has earned her own money almost from Day 1. The cost of the visas is extortionate, and a big rip off, but we knew that before we started so we factored it in. My wife has no intention of returning to Thailand - Covid or no-Covid, and my Thai-born step-son will make his home here. My wife can now apply for citizenship: once that's granted she can apply for a UK passport and, assuming the world doesn't stop spinning on its axis, enjoy foreign travel to her heart's content. 

[spidermike007]

The market was already very over built, and there was already alot of stock and vacancy, prior to Covid. 

 

Perhaps the developers only engaged in GMR (Google market research)? 

[xylophone]

2 minutes ago, spidermike007 said:

The market was already very over built, and there was already alot of stock and vacancy, prior to Covid. 

 

Perhaps the developers only engaged in GMR (Google market research)? 

You beat me to it sm007 as I was just about to post the same thing, because the property market had been dead here long before Covid took hold, and there were regular reports of thousands of unsold/uninhabited condos in Bangkok alone.

 

Nearer to home in Phuket, many of the property booths had disappeared and I knew a couple of the managers who said that times were extremely tough, hence getting rid of the booths and the staff.

 

Then of course there were friends of mine who were trying to sell condos and villas, and who had no luck, although one of my friends did, when he/they bought a penthouse condo overlooking the sea for 18 million baht a few years back and then just two years later wanted to sell it and couldn't, and were advised to drop the price, which they did, several times, and in the end because they were desperate to get rid of it, they settled for 11 million baht – – that's a huge loss in two years.

 

The other side of the coin is the fact that there are a lot of places on the market here where the asking price has stayed high, irrespective of the glut of places and the market conditions, notwithstanding Covid et al.

 

With rents so low and the Visa situation so tricky, why would anyone want to spend good money in a place like this?
 

[John Drake]

5 hours ago, xtof2 said:

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

Do Chinese in the PRC use google?

[ThaiFelix]

Foreigners raring to buy condos in Thailand

 

Yep, all 3 of them are raring.....Curly, Larry, and Moe!

[Tonypandy]

Keep on dreaming, the Chinese have totally lost interest in Thailand, partly due to the fact they have realised buying property here is not an investment, but a sure way to lose money, secondly tighter money controls on transferring cash out of China, Chinese banks no longer allow transfers to buy properties overseas.