Foreign buyers fuel 200% surge in Thai luxury property sales

[newnative]

14 hours ago, OneMoreFarang said:

I am no expert, but I wonder why foreigners buy and not (so many) locals. 

Is there something the locals know which those foreigners don't know or don't think about?

The article states that 89% of locals purchased CBRE properties and 11% foreign buyers.  How do you get 'not (so many) locals' from that?

[sambum]

14 hours ago, OneMoreFarang said:

I am no expert, but I wonder why foreigners buy and not (so many) locals. 

Is there something the locals know which those foreigners don't know or don't think about?

I am no expert either, but:- 

" Among the projects CBRE represents, 89% were purchased by Thai buyers and 11% by foreigners from 2022 to early 2023, said Artitaya."

 

[bradiston]

1 hour ago, JoePai said:

As foreigners cannot buy land/house (??) how do the 60% stated in the article buy their villa ?

You can lease land and build a house with your name on the building permit.

[OneMoreFarang]

1 hour ago, Bundooman said:

Yes there is. But it's partly,  the other way around. Most Thais probably don't understand, (or even want to know), who it is that are buying these luxury villas, etc. They don't care that it is likely to be Russian or Chinese money, they're not interested in the war in the northern hemisphere - Ukraine, or the rising threat from China and the greed is beginning to show.

 

It will be interesting when the Thai people find out just how unpleasant both these foreign nationals can be, when established in expensive housing, long term - compared to the normal Thai people's standard of living. Not to mention the rise in overstays, corruption, job-stealing and the drunkenness, accident rate, fighting, theft, rude behaviour and disgusting habits that both of the nations exhibit. (Phuket's recent report and statistics, not mine).

 

The recent rapid rise in overstay was highlighted last week, but surprisingly, this time, the nationalities of the 'miscreants' wasn't announced. I wonder why not.

But I also think you are right - Thais know that these rapid-rise structures and going to be cheaply made, poor quality materials and workmanship - sold at unbelievably stupid prices. The price actually, that the Russians particularly will pay for running away from their country. they may live to regret that.

 

Plus a new government - Interesting times ahead, don't you think?

I have to admit I understand people from Russia overstaying here to avoid going to war back home.

 

And are those annoying people from those nationalities the same as people who buy luxury property?

 

[sambum]

Headlines :- "Foreign buyers fuel 200% surge in Thai luxury property sales"

 

Main text of article:- "89% were purchased by Thai buyers and 11% by foreigners from 2022 to early 2023, said Artitaya."

 

Very misleading! 

 

 

[IrishInThailand]

Spoke to an agent recently. They talked about 15 percent increase in prices across the boards. How true is this ? Is anyones guess.  If you in the market for hotel room size condo there is plenty about for sure in Pattaya. 

[carlyai]

12 hours ago, humbug said:

Always a sales pitch article in this country, but 58% housing snd 40% condos 2% villas, are we witnessing the first part of a 20 year thai/chinese strategy through agreements to allow Chinese to own homes, and slowly over 20 years be a legal owner of the land and home, or just very poorly written, both could be right, but they did seperate all 3, houses, condos, villas, i doubt people are buying 58% worth of houses for leaseholds of 30 years, or is connected to corporations

 

Later in the article is states 89% thais, 11% foreigners purchased, so out of 40 billion purchase costs, roughly 36 billiin was bought by thais, and 4 billion by foreigners

 

and some of those houses in Bangkok would range from 20-80 million baht

 

If its poorly written, then run a mile away, if it's for Chinese to be allowed over 20 years to be homeowners, then run a mile away, easy answer to any of these sales pitch articles

 

 

They'll never allow Chinese to own land here.

[spidermike007]

Another poorly written article, stating something that means nothing without data. Increased 200% over what? 2022 sales? Pre-pandemic sales? 2021 sales? They are giving us nothing to work with. Only a sensational headline, likely encourage by a well placed PR agent, representing the industry. 

[smedly]

5 hours ago, macahoom said:

If you increase a number by 100%, you double it.

I don't know about you, but that is not meaningless to me.

one becomes two

[humbug]

1 hour ago, carlyai said:

They'll never allow Chinese to own land here.

Last 140 years they have, many Chinese immigrants have emigrated, and now own businesses, land, become prime ministers, arrgh, but what you mean is tourists or visa holders, you see, thats not how the Chinese try and influence a country over the long term, they use corruption, which then allows agreements like the Belt n Road, then they set up lands, which mask industrial lands, but in reality allow owners to become land owers, then they promote local national 20 year strategies, all 17 belt  n road member countries, have a 20 year national strategy, some 25, which joins over 20/25 years, many local laws with laws in Beijing, and elevates Chinese nationals to a higher race within those 17 members

 

Why do think they hate Move Forward Party and its mention of going the way of a rule of law society, not a male-dominant, corrupt non-rule of society with strong class systems and glass ceilings

 

Doesn't mean the Chinese will get their way, but they will keep trying different tactics over the long term looking for weaknesses, and emigration thru land and business ownership, has been their preferred way

[rumeaug]

...On par with a X00% increase in Russian "refugees"?

[humbug]

Whats amazing and unique as an expat community on now Aseannow aka Thai visa, has been the coming together of attacking or highlighting lies, lies and more damned lies in articles, from sales pitch business pages and the economy, to arrest articles and daily attacks on our existence by a creepy section of local

society, who think they are miles above the glass ceiling, than anyother race of people living here

 

This latest trash of lies from CBRE a western company, with top management western, from rule of law countries, where a yes means a yes, and people care about rights of others, instead of non-rule of countries like Thailand, where you can lie to your hearts content, and no one cares, as there is never any retaliation through a fair legal

system or justice

 

So here we are, with a article full of mis-interpretations, and no one at CBRE, cared, didn't care if it might trick people or give false hopes, nope, not even western top management, even cared to have the article edited for faults, nope just your normal pack of lies, treating us expats, as low IQ imbiciles, who will just trust any old gullable trash article

[metisdead]

Off topic posts and replies have been removed. This topic is not about  the impact of the post 9/11 wars on human health. 

[DjSilver]

The stupid thing is that Thai call this luxury, when it's only modern standard. ????????????

Edited May 27, 2023 by DjSilver

[jacko45k]

21 hours ago, mikebell said:

I wonder why ANY foreigners buy (single houses) knowing they can only own 49% of it.

They can sell them, much the same as a a condo, that can be in your name. Can't take either of them home with you if you decide to go. 

[Fairynuff]

On 5/26/2023 at 8:05 PM, Celsius said:

 

I would not. I would do the exact opposite.

This is not the forum to be suggesting taxing booze!