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Foreigners bought 660 condos in Bangkok area this year: Average price 5M baht, Thais 3.8 M baht


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On 8/21/2021 at 4:28 PM, Shuya said:

... and get an unconditional residence permit with it. Surprisingly he forgot to mention that fact. 

Do you think this permit is reflected in the price.

One thing I do know is that a good friend who won an award earlier this year for building nice condos, has gone home to his home country, taken his Thai wife and daughters with him, as no school and no business (sales) at present.

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2 hours ago, Dialemco said:

Estate agents that I have see interviewed about  property market have all been bullish and stated how well the market is performing some saying prices are actually going up in tourist areas. If this is the case the market should be booming! Is it?

Do you think a real-estate agent is even gonna tell a potential client that the market is <deleted> and it's extremely hard to sell for the usual asking price right now?

 

Remember: these people get commission on sales. 

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And what happens to the other hundreds of thousands of unsold units plus all those which will be thrown on the market anytime soon? 

People are returning their unpaid cars and bikes and move out of their unpaid condos so no rush to invest here anytime soon. Another nice element for the non-Thai crowd is, that the exchange rates are moving in the right direction to where the Thai Baht actually belongs. 

And if you really want to fan sales then talk to the fellas at the Foreign Ministry on visa issuance and the goons at the immigration under the police under the Interior Ministry. The 90-days-joke and the TM30, as example, does not go down well compared to other countries .......

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On 8/21/2021 at 11:34 AM, OneMoreFarang said:

It would be interesting to see the breakdown of price per sqm and new and "used" condominiums.

 

I would like to know the nationalities of the forein buyers.....

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4 hours ago, redwood1 said:

I don't believe this for one second......100% no on this one..... 66 condos or 33 condos I might believe........With all the travel restrictions... Not many buy condos without looking at them....

On the contrary, there are many hong kongers and Chinese who purchase properties off plan without ever flying in to take a look at the location first. 

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I believe there were 660 foreign sales as there are always people with too much money.

 

I don't believe there were total of 14,000 Thai sales because in Toronto which I follow regularly because I own there there was a total of 9000 sales during the same period  and that place has a very healthy market and is condo crazy.

 

What probably happened is agent like Harris or whoever bought a bunch of inventory from developers dirt cheap and is now sitting and waiting for better times.

 

If I'm wrong maybe someone can school me.

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2 hours ago, tomazbodner said:

http://property.treasury.go.th/pvmwebsite/

 

Click on Condos, then select province and enter condo name to search.

 

Unfortunately in Thai only. This is how it looked like for some other condo I was considering a while back:

 

image.thumb.png.b0848d4c2b2b1d4d67b230008a056415.png

Thanks! That is amazing.

I see the prices of 36 units (including the unit numbers) of "my" condominium.

And then another list with prices by floor.

Amazing! 

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On 8/21/2021 at 5:33 PM, tomazbodner said:

Land department, most likely. When you make a transfer, price must be shown in the paperwork, and tax paid on it.

Sold 2 properties here, wife dropped reported purchase price by 50% each time to save tax...

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On 8/21/2021 at 8:06 AM, Exploring Thailand said:

I'd be interested to know where this data came from. As I understand it, there is no publicly available register of sale prices. It looks like this report is from a private company, so they should (theoretically) have no access to the data.

I am one of the 660 buyers. 
Purchased a 2b condo in Parkland Charan. 4.4 M THB. Have not open its door yet because I wait for Thailand to open for travel. 

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7 hours ago, NemoH said:

This is fake news…

I have so many Thai property agent friends who have all resigned or been made redundant n now all jobless because new as well as old units all cannot be sold. Many units are also in default of payments n some projects are either abandoned or delayed I definitely.

 

 

correct ....  how the heck could Thailand sell that many units when there was no buyers around for the good part of a year and a half.  COVID19 started to bite into the economy around March 2019 and everything went downhill further from then on.  2021 ... Q1 was a disaster as everyone was fighting this virus and pharmaceuticals were racing to develop a vaccine.

As you said,  most real estate sales staff left or were laid off due to zero or near zero sales.  

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9 hours ago, redwood1 said:

I don't believe this for one second......100% no on this one..... 66 condos or 33 condos I might believe........With all the travel restrictions... Not many buy condos without looking at them....

Chinese rental investments/real estate portfolios? I hear they're pretty flush with cash. Russian mafia is buying pretty well in the US last I checked too. There's now a 'little russia' part of Miami, where russian is commonly heard in the streets????

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10 hours ago, IamNoone88 said:

The Malaysian property restriction quoted above is incorrect. Foreigners can by property in Malaysia without price restriction except for;

 

Properties valued less than RM1 million

Low and medium cost residential units as defined by state authority

Properties standing on Malay Reserve land

Properties allocated to Bumiputera group in any property development project as determined by state authority

 

You can also apply for residency and own a landed property in Malaysia, unlike Thailand.

 

I would expect more accurate reporting for AREA if using Malaysia as a comparison.

I been working in malaysia for about 3,5 years..We worked in labuan(borneo island)Wery nice country and friendly people.Low prices because Labuan is taxfree area.I get my workingpermit  at the airport immigration.Anywau,would i buy i condo or more?NOPE!

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11 hours ago, IamNoone88 said:

The Malaysian property restriction quoted above is incorrect. Foreigners can by property in Malaysia without price restriction except for;

Allegedly the following are new M2H Visa requirements 

D93B8CB1-9852-4805-8886-2CB298C97E40.jpeg

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