Boom time coming to Thailand as foreigners lead real estate revival, claims Sansiri

[tingtong]

13 hours ago, ExpatOilWorker said:

Delusion of the year. What kind of marketing crack pot has this guy been smoking?

The legalized Kratom starting to take effect?

[Stargeezr]

Another deluded Thai guy living in the clouds.  2023 or beyond if you are lucky to get the

markets moving much at all.

  Must be desperate.

Geezer

[kiwikeith]

14 hours ago, Neeranam said:

Not again! 

 

<deleted>, does anyone actually believe this <deleted>. 

All I can see is Chinese buying up

[Edwin Cameron]

I really doubt that, people have woken up to Thailands repeated attempts to RIP-OFF Farangs, we are not stupid,we also know what the word 'Discrimination 'means when for example you go to a National park or something and there are two prices to get in there, one for a Thai national, usually not very big but for the Farang it's like 5 times more and Thais would argue that it's fair to charge Farangs more. Sorry it's discrimination at best and racism at worst.

[chicmec]

Quote

" ... foreigners desperate to invest in Thailand?  ...  the Thai economy to spiral upward and his company through their products wanted to cash in on the bonanza."

 mmmm ... I woke up this morning and read this fairy tale.

[scorecard]

On 9/15/2021 at 2:57 PM, ExpatOilWorker said:

Delusion of the year. What kind of marketing crack pot has this guy been smoking?

His pocket; it's on fire and drooling for condo sales to pull hundreds of millions of Baht into his pocket. That's what this 'visas etc., to attract rich foreigners' etc., drive is all about, nothing more, line the pockets of the greedy property developers.

[skorp13]

This guy has been playing on the wrong side of the medicine cabinet!

[John Drake]

15 hours ago, IamNoone88 said:

He's been drinking too much the CoolAid. Ever heard of China Evergrande (3333.HK)? You will. It is China's second largest developer and carries US$305 Billion of liabilities. It's going bust, has been all year. This is important because Evergrande going bust, carries systemic risk to China's banking system and contagion to other developers. It will hit the man in the street. How hard, remains to be seen.

 

Cut to the chase, all those Chinese investors, property speculators, creditors, bond holders, investors in related shares of other companies (suppliers, banks etc) are going to get whacked even harder. There will be less of a Chinese market in Thailand, than Mr CoolAid anticipates and when he refers to foreign buyers, I am sure he means Chinese.

 

That party is coming to end.

Not to mention that Xi is in the process of restructuring the entire idea of "capitalism with a Chinese face." I think China sees chaos and vast income inequality unsettling the West and fears it has created the same conditions in China. Xi is going to reverse that. Which is why celebrities and Big Tech tycoons are vanishing and/or being cut down to size. And if the continuing draconian responses to the control of Covid are any indication, there is no way that China is going to allow outbound tourist travel to resume in 2022. And also remember, HK is now almost fully consumed by the mainland. What happens there happens in HK. 

[John Drake]

6 hours ago, Edwin Cameron said:

I really doubt that, people have woken up to Thailands repeated attempts to RIP-OFF Farangs, we are not stupid,we also know what the word 'Discrimination 'means when for example you go to a National park or something and there are two prices to get in there, one for a Thai national, usually not very big but for the Farang it's like 5 times more and Thais would argue that it's fair to charge Farangs more. Sorry it's discrimination at best and racism at worst.

I don't think Westerners play much of a role in their concerns. For that matter, neither do Western worries over racism or discrimination.  

[relax33]

On 9/15/2021 at 2:26 PM, Longwood50 said:

Now just exactly what would cause foreigners to be desperate to invest in Thailand. 
The fabulous roadway infrastructure - No.  The dual pricing system for foreigners - No.  The excellent craftsmanship of the  housing - No.  The stable government and law enforcement - No.  The ease government makes it for foreigners to remain in Thailand - No.  

Well I have run out of ideas 

Its the speed  where the price of the condo depreciate after you have bought them n the relatively high condo maintenance fees that you get saddled on for life when you can't rent or sell the unit ...  ha

[relax33]

23 hours ago, Jingthing said:

It's relative.

mostly when you sell ...

[relax33]

21 hours ago, Tonypandy said:

Another mentioning the Chinese will lead the way. But with all the new restrictions imposed by the Chinese government on investing in property overseas and with strict new rules on transferring money out of China I'm afraid this is not going to happen. I think wishful thinking on thier behalf 

Unless he can get immigration to offer renewable 10 year visas for condo purchase ...

[Tonypandy]

On 9/15/2021 at 5:15 PM, Eric Loh said:

The new restrictions by the China Banking Regulatory Commission to cut off fundings are targetted at countries like UK and Australia. They encourage investments into countries that have have association with the One Belt and Road projects. Thailand is the top draw property investment destination of the Chinese. 

Sorry, but you are totally incorrect on this one. It's always been a grey area purchasing investment property overseas regardless of country of purchase. Now the Chinese government have made this illegal to purchase investment property overseas in any country. 

[Sir Dude]

Sansiri took the blue pill.

[IamNoone88]

9 hours ago, John Drake said:

Not to mention that Xi is in the process of restructuring the entire idea of "capitalism with a Chinese face." I think China sees chaos and vast income inequality unsettling the West and fears it has created the same conditions in China. Xi is going to reverse that. Which is why celebrities and Big Tech tycoons are vanishing and/or being cut down to size. And if the continuing draconian responses to the control of Covid are any indication, there is no way that China is going to allow outbound tourist travel to resume in 2022. And also remember, HK is now almost fully consumed by the mainland. What happens there happens in HK. 

It will be tighter controls on forex leaving the country to pay for overseas real estate. There always were controls, but these become even harsher.

[ExpatOilWorker]

Mr. Sansiri should be watching what is happening with his biggest customer base.

Evergrade is Ever-bankrupt now.

 

DW News: What's behind the collapse of Chinese property development giant Evergrande? | DW News.
https://www.youtube.com/watch?v=vI7SbVEa8ys

[jerrymahoney]

On 9/15/2021 at 12:08 PM, Pravda said:

Yes.

Can anyone tell me how to short this clown's stock?

Last Update 17/09/2021 03:19:53

Market Status : Closed
Symbol SIRI

 

SIRI Last Trade
1.38
Change
+0.08 
% Change
+6.15%

 

https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=SIRI&ssoPageId=9&selectPage=1

 

BTW the Bangkok Business News article linked in the OP was published 14 SEP 2021

 

Edited September 16, 2021 by jerrymahoney

[murraynz]

On 9/15/2021 at 5:52 PM, Toby1947 said:

Thought it was only the Thais that we’re delusional about second had property values, but obviously not.

I have no idea what you are referring to? 

I'm a property investor in NZ and Australia. I don't normally buy new properties.. 

In good areas over many many years, I've had good cap gains. 

It's a totaly different situation to Pattaya Thailand, where cap gains on any property, are very rare.. 

[elgenon]

Does kratom cause euphoria?

[Rickster]

'Boom time coming' seriously what planet are these scrotes on.....is there a huge over supply of crack cocaine doing the rounds in government or what ????

[matchar]

https://www.thaienquirer.com/32786/sansiri-bonds-bought-out-within-hours-returns-every-three-months/

 

They can't sell any condos so they are borrowing money, no shortage of willing punters it seems though. What's that saying...a fool and his money...

[scorecard]

On 9/16/2021 at 11:01 PM, Sir Dude said:

Sansiri took the blue pill.

?

[bangkokbonecollector]

As long as the elites (Mostly Sino-Thais) keep the countryside girls coming with poor wages, poor education, poor family planning and just complete and utter contempt for the actual real Thais, foreigners will always be pushing money into this country. 90% of expats move or invest in Thailand because of a Thai women. 90% of those women are from poor backgrounds or most definitely not an elite. Where is Rama 6 when you need him.

 

NB. stats not exact, ballpark figures.

Edited September 18, 2021 by bangkokbonecollector

[Soikhaonoiken]

Statements like this, really mean that Ass has fallen out of the market, and the banks are now putting the pressure on.... 

[Rampant Rabbit]

On 9/16/2021 at 1:47 PM, relax33 said:

Its the speed  where the price of the condo depreciate after you have bought them

This  just isnt the case unless you buy a  dump, prices  have been rising for donkleys  years here, I  boguht 2 of mine way back in 2005 they have since risen   from 1  million new to about 1.9  million in that time, No its not as STUPID as the wests house price increases but they certainly  havent  gone  down. Condo fees are generally very  low here.

https://www.thailand-property.com/condo-for-sale-or-rent-in-lumpini-ville-sukhumvit-77-suan-luang-bangkok-near-bts-on-nut_6981819

Edited September 18, 2021 by Rampant Rabbit

[bkk6060]

35 minutes ago, Rampant Rabbit said:

This  just isnt the case unless you buy a  dump, prices  have been rising for donkleys  years here, I  boguht 2 of mine way back in 2005 they have since risen   from 1  million new to about 1.9  million in that time, No its not as STUPID as the wests house price increases but they certainly  havent  gone  down. Condo fees are generally very  low here.

https://www.thailand-property.com/condo-for-sale-or-rent-in-lumpini-ville-sukhumvit-77-suan-luang-bangkok-near-bts-on-nut_6981819

Someone would have to be a total idiot to spend almost 2 million b when you can rent it for 300 bucks a month.

Thailand's non transparent real estate market is a farce.  100's of thousands empty units in the country will take 10 years or more if they stopped building today to get that inventory low enough to create reasonable demand and  appreciation.

It will be dead money.  Invest in investments and Thai real estate ain't it.

[Rampant Rabbit]

1 hour ago, bkk6060 said:

Someone would have to be a total idiot to spend almost 2 million b when you can rent it for 300 bucks a month.

As  most  buyers are  Thai youd  better  tell  them.

[Cherrytreeview]

On 9/17/2021 at 3:01 AM, murraynz said:

I have no idea what you are referring to? 

I'm a property investor in NZ and Australia. I don't normally buy new properties.. 

In good areas over many many years, I've had good cap gains. 

It's a totaly different situation to Pattaya Thailand, where cap gains on any property, are very rare.. 

I know a guy from Brighton, UK who sold his condo in the Centara hotel/condo complex on soi bukahow, Pattaya in December 2019.

Got basically what he paid for it. Chinese buyer bought the condo online through an estate agent.

UK housing market went up over 10% last year. New covid normal, a race for space and less travel means it won't be slowing anytime soon.

Buy at home, rent abroad.

I wouldn't buy any tangible asset in Thailand but be in no doubt if/when the Chinese return, they have money to burn.

 

 

[rudi49jr]

In your dreams….

[Will B Good]

8 minutes ago, Cherrytreeview said:

Buy at home, rent abroad.

I wouldn't buy any tangible asset in Thailand but be in no doubt if/when the Chinese return, they have money to burn.

Buy at home (you know the market), rent abroad....my mantra 100%.

 

The Chinese returning might be a forlorn hope as Winnie clamps down. Going to suppress any price rises for a long time.