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Posted

Who financed the construction of all these unsold condos? Most prudent lenders would want to see at least 50% sold on plan units before lending anything to the developer.

Posted
2 minutes ago, rwill said:

The best solution is to stop overbuilding.

 

Why would you want to lease a unit when you can buy one?

 

Now if they were talking about 99 year leases for land that would be something else.

If a condo price is 30-40M baht, not many have an adequate down payment to buy. So maybe they can afford an adequate monthly lease payment

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Posted

Have asked the question before but is it true if you buy a condominium worth more than 4 million thb, you have to pay 35% tax?
If the answer is yes, then I cannot imagine anyone buying anything in LOS anymore.

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Posted

The Thai economy is a very delicate system. 

 

This will push rents up for many local Thai's. If that happens, workers will demand more wages. More wages means prices pushed onto the consumer, and a reduction in workers. 

 

At the moment labour is plentiful in Thailand, as locals can by and large afford housing, even in central Bangkok. As a result you have a pretty content population. 

 

You mess with this eco system at your peril. 

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Posted

What use is a 99 year lease for foreigners  unless willing it to another farang? I can see it being of use to some commercial owners, but enough to clear a meaningful percentage of the estimated overstock?

The keyword is “overstock”. I was briefly tempted by an offer to purchase a unit I had been renting for 600,000, but the complex was already showing its age. 
Is it just me, or are Thai people averse to most types of maintenance? This from the perspective of one who has lived in 200+ year old buildings in the US.

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Posted

Best solution is to lower prices. Greedy developers, who were too lazy to do any market research, before building. The numbers are likely far higher. The economy is sluggish, and the correction has not even come yet. If you are thinking of buying, just wait 

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Posted
1 hour ago, bob smith said:

99 year lease today, visas cancelled for farangs tomorrow.

 

What foreigner in their right mind would invest in a country that has a proven track record of flip-flopping on almost every policy they have ever implemented?

 

are these clowns so utterly clueless as to how they look on the world stage?

surely they can't be that dumb?

 

right?

 

bob.

TIT, Bob. Dumb is the operative word.

Posted
5 minutes ago, David9 said:

They are even dumber. No, they are simply brainless, dumb is too clever for them. And aside of brainless, they have an unbelievable ego and pride of what they are. Which is very hard to understand by the outside world.

I know.

 

most thais never leave Thailand.

 

They are stuck inside an echo chamber in which Thailand is the center of the universe.

 

bob. 

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Posted

I would never buy a condo if im

denied  voting rights plus if there going to do it for condos why not do it with land a straight lease of 99 years 

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Posted

If this is the best the finance minister can come up with, as a solution to filling empty condo's, I wonder how the country is not in very serious debt? Or is it a clever game of smoke and mirrors?

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Posted
1 hour ago, spidermike007 said:

Best solution is to lower prices.

A thing is only worth what others are willing to pay. If there are unsold units then it means the developers and owners have a break-even level that they are currently unwilling to go below. But as Pita mentioned the possibility of catastrophe in another thread, here we have the question of when the economy will reach the point of general capitulation, when the majority just gives up and takes what they can get, and hopes they will survive the effective margin calls. But as far as trust in the policy makers of this country, the damage has been done.

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Posted
4 hours ago, Scouse123 said:

 

Agreed 27 years,here sir

 

Same story.

 

but they walk into to he UK and buy anything they want in their own name.

 

They can not really walk in because it is hard to get a visa that they must apply for and pay for even if it gets rejected.

4 hours ago, Scouse123 said:

 

They are lot less vocal in the UK because they earn fabulous money and get the benefits of democracy.

 

most are struggling with the terrible economy especially the many who operate thai restaurants that are really feeling it with the cost of living crisis

4 hours ago, Scouse123 said:

 

No big mouth anti foreigners rhetoric when they are in our country.

 

Fairness is  a two way street

 

 

I think you will find us Brits complain about foreigners more than you will hear the Thais whining about foreigners.

It was what got Brexit over the line.

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