Partner and I are selling our 9 year old house and downsizing. Our house is located in Muang Chiang Mai in a secluded wooded moobaan in a very convenient part of the city. Unfortunately (or fortunately?) due partially to the increased land value, it's listed at 22 million baht. Compared to similar property listings in the vicinity this seems to be a reasonable price. Yet we've had zero interest from local buyers. We kinda knew this was going to be an issue as there does not seem to be much demand for properties of this price in CM.

 

So we want to focus on selling to an foreigner, specifically a Chinese buyer. Our moobaan and the surrounding area is becoming more and more popular with Chinese families so it's not a bad idea. However, none of the agents we've contacted in Chiang Mai know how to find Chinese buyers.

 

Could anyone suggest a real estate agency with good connections to China and Chinese buyers?

 

It will always be cheaper for someone to buy a piece of Land and build their own house than to buy a second hand house. Your house would need to be pretty spectacular to even have a chance of selling. Especially at 22 million Baht. 9 times out of 10, it is only the land that has value, not the house! 

Listing is not always the same as real value and with zero interest, it looks like it is too expensive.

Thanks, but I'm not interested in opinions about the property's value. Let's just say you could comfortably fit a family of 7~10 people in the house, even more in the pool. It's a 9 year old, well maintained, modern lanna-style house, a beautiful tropical garden, situated alongside a river, with a lovely view of Doi Suthep. The property is priced appropriately.

 

      You didn't say how many agencies you have your house listed with.  Since Thailand has no MLS, you need to list with as many agencies as possible, starting with the biggest and the closest to your property.  Email the agencies with a good set of photos and a detailed description.  If CM is anything like Pattaya, some agencies will use your photos and description and some will want to take their own photos.  Be as accommodating as possible.  

     It's also likely at your price point that some agencies will also want to come to your property and do a video.  At the last two houses we sold in Pattaya, which were in the 10 to 12MB range, we had at least 3 agencies do this at both houses.  The videos can be useful for buyers not yet in Thailand.  While it's useful to see if you can locate some Chinese agencies, regular agencies can also have Chinese and other Asian buyers.  Our last house sold to a Korean buyer; the agency with the buyer was one of the largest in town.  And, yes, they had done a video.

As mentioned, I would contact as many real estate brokers in Chai and also I would send information to Big brokers and Bangkok a lot of them deal with Chinese and maybe you’ll get lucky and find the Chinese food <deleted> is going to school and change my and wants to invest in the house seems like the reason why did to me TT

21 hours ago, FritsSikkink said:

Listing is not always the same as real value and with zero interest, it looks like it is too expensive.

Yes.  Listing prices and real value are never the same!

20 hours ago, clokwise said:

Thanks, but I'm not interested in opinions about the property's value. Let's just say you could comfortably fit a family of 7~10 people in the house, even more in the pool. It's a 9 year old, well maintained, modern lanna-style house, a beautiful tropical garden, situated alongside a river, with a lovely view of Doi Suthep. The property is priced appropriately.

 

So "appropriately" that it's generated exactly zero interest!

16 minutes ago, TheFishman1 said:

maybe you’ll get lucky and find the Chinese food <deleted> is going to school and change my and wants to invest in the house seems like the reason why did to me TT

Huh?  Isn't this an English language only forum?

22 hours ago, clokwise said:

Our moobaan and the surrounding area is becoming more and more popular with Chinese families so it's not a bad idea.

 

I'd suggest you and/or your wife visit with some of the friendlier Chinese neighbours, take them some moon cakes or whatever, and ask their advice on how best to market the house in China or to Chinese people already in Thailand.

23 hours ago, clokwise said:

Partner and I are selling our 9 year old house and downsizing. Our house is located in Muang Chiang Mai in a secluded wooded moobaan in a very convenient part of the city. Unfortunately (or fortunately?) due partially to the increased land value, it's listed at 22 million baht. Compared to similar property listings in the vicinity this seems to be a reasonable price. Yet we've had zero interest from local buyers. We kinda knew this was going to be an issue as there does not seem to be much demand for properties of this price in CM.

 

So we want to focus on selling to an foreigner, specifically a Chinese buyer. Our moobaan and the surrounding area is becoming more and more popular with Chinese families so it's not a bad idea. However, none of the agents we've contacted in Chiang Mai know how to find Chinese buyers.

 

Could anyone suggest a real estate agency with good connections to China and Chinese buyers?

 

If no one is interested maybe that should tell you something e.g. you are over pricing it or it is excessive for the area. If it is worth 22 million I am sure it will be a really big and beautiful house. Unfortunately, you can only get a price if someone is prepared to buy it. Going for the Chinese sounds good but they will not buy if it is not worth it in the present market.

22 hours ago, CharlieKo said:

9 times out of 10, it is only the land that has value, not the house! 

 

One of those bar stories that I've never once seen any reality to. 🙂 

22 hours ago, clokwise said:

Our moobaan and the surrounding area is becoming more and more popular with Chinese families

Have you considered speaking to your Chinese neighbours about promoting it to/through their community?

22 hours ago, clokwise said:

it's listed at 22 million baht.

 

It could be listed as 2222 million baht, that has no indication of its value. 

 

If the most anybody is willing to pay is 50,000 baht, that is it's value. 

 

 

https://lazudi.com/th-en

 

They deal a lot with chinese buyers .

On 4/4/2024 at 5:24 PM, clokwise said:

The property is priced appropriately.

It's only priced appropriately when you've found a buyer.

3 hours ago, JeffersLos said:

 

One of those bar stories that I've never once seen any reality to. 🙂 

 

I wouldn't know, I don't hang around in bars. But I'm talking about what I see to be true in so many cases. 

On 4/4/2024 at 5:24 PM, clokwise said:

Thanks, but I'm not interested in opinions about the property's value. Let's just say you could comfortably fit a family of 7~10 people in the house, even more in the pool. It's a 9 year old, well maintained, modern lanna-style house, a beautiful tropical garden, situated alongside a river, with a lovely view of Doi Suthep. The property is priced appropriately.

 

Thats your problem right there.

google translate english to chinese ?   house for sale  22 million baht ... and go make a cheap banner and add to your gate ?

 

待售房屋 2200 万泰铢

Who would want to live in Chang nobyl?

On 4/4/2024 at 3:03 PM, clokwise said:

it's listed at 22 million baht. Compared to similar property listings in the vicinity this seems to be a reasonable price. Yet we've had zero interest from local buyers.

Did a Thai person list this? I see these kinds of crazy prices and they make no sense to me. Normal middle class houses in Chiang Mai are like 2.5-3.5 million so your house would be  the same as 7 mid priced homes. Maybe the idea is that you buy the lot, demolish the house and build a condo. Chiang Mai is rip off these days if you ask me.

 

Sorry that's just a rant, won't help you find your Chinese chump. 😂 Good luck.

One more point, how is a Chinese person going to buy a home in Thailand? They're going to setup a fraudulent nominee company and invest 22 million? That sounds crazy to me.

25 minutes ago, Northstar1 said:

Who would want to live in Chang nobyl?

The smoke is peanuts compared to the bigger problem, which is it costs 22 mil baht to get freckin house in a congested polluted city packed full of Chinese money launderers.

43 minutes ago, NorthernRyland said:

One more point, how is a Chinese person going to buy a home in Thailand? They're going to setup a fraudulent nominee company and invest 22 million? That sounds crazy to me.

 

My thoughts exactly. With all the scrutiny on nominee companies, who would "invest" or put at risk, 22 million Baht?

 

16 minutes ago, soi3eddie said:

My thoughts exactly. With all the scrutiny on nominee companies, who would "invest" or put at risk, 22 million Baht?

 

I have actually seen a little Chinese (Hong Kong) colony forming in Mae Jo. They really let you know exactly they're outsiders and put up flags and Chinese decorations. The authorities are obviously aware so they must have the corruption game down better than whitey.

 

Chiang Mai has been targeted by the Chinese it seems. More reasons to GTFO.

On 4/4/2024 at 5:24 PM, clokwise said:

Thanks, but I'm not interested in opinions about the property's value. Let's just say you could comfortably fit a family of 7~10 people in the house, even more in the pool. It's a 9 year old, well maintained, modern lanna-style house, a beautiful tropical garden, situated alongside a river, with a lovely view of Doi Suthep. The property is priced appropriately.

 

Btw, how much did you pay for the property 9 years ago? Curious what kind of inflation we're looking at here.

8 hours ago, Liverpool Lou said:

Huh?  Isn't this an English language only forum?

 

22 million baht for a house in Chiang Mai?  Koh Samui, maybe.

 

I have a friend in CM who could not sell his house for 5 million baht, and said house was built to his exacting standards. On the market for 3 years..

 

IMO the OP is dreaming. Everyone in Thailand wants new.

 

 

10 hours ago, NorthernRyland said:

Btw, how much did you pay for the property 9 years ago? Curious what kind of inflation we're looking at here.

 

We originally paid 15 million, and we have since expanded the size of the house, kitchen remodeling, extensive landscaping, and we've just completed refurbishing all the teakwood inside and outside the house. All these additions cost another 3~4 million. While there may be some home depreciation to take into account, the land value itself has skyrocketed because it is in the actual city, not the suburbs. The neighboring moobaan, built at the same time as our home, but with smaller identical looking houses, has even higher asking prices (per sqm), and is full of Chinese families.

 

11 hours ago, NorthernRyland said:

Did a Thai person list this? I see these kinds of crazy prices and they make no sense to me. Normal middle class houses in Chiang Mai are like 2.5-3.5 million so your house would be  the same as 7 mid priced homes. Maybe the idea is that you buy the lot, demolish the house and build a condo. Chiang Mai is rip off these days if you ask me.

 

Sorry that's just a rant, won't help you find your Chinese chump. 😂 Good luck.

 

This isn't a normal house.