Earthquake Fear Drives Bangkok Residents to Search for Safer Housing

[webfact]

Picture courtesy of Thai Rath

 

Bangkok residents are reeling after a powerful 7.7-magnitude earthquake hit, creating chaos and panic among high-rise dwellers.

 

With visible cracks appearing on the 22nd-floor walls of his apartment, Phatsakon Kaewkla wasn't alone in his fear. Hundreds of buildings suffered damage, inciting concern about their structural integrity.

 

Phatsakon, like many others, sought shelter elsewhere, avoiding his home until expert confirmation of safety was provided. Despite reassurances from condominium management, a lingering unease remains. "I feel a little bit scared," he admitted, as many join him in considering low-rise alternatives.

 

The ripple effect has hit the real estate market hard. Bangkok expert Owen Zhu noted a surge in residents eager to abandon their lofty homes for something sturdier. The earthquake has struck a chord, highlighting potential risks of high-rise living.

 

 

 

Turkish expat Yigit Buyukergun faced similar fears when his apartment building showed major damage, leaving him skeptical of claims it was "100 percent safe." The fallout from the quake has sparked disputes between tenants and landlords about the habitability of damaged properties.

 

While building owners reassure residents of safety, anxiety remains. The quake revealed gaps in building standards, prompting calls for stricter regulations. Authorities are probing whether substandard materials contributed to a 30-storey collapse, intensifying scrutiny on construction practices.

 

Zhu predicts a slow but steady rise in property prices, driven by the demand for safer homes.

 

Meanwhile, residents like Buyukergun grapple with unsettling reminders that nature's unpredictability doesn't stop at national borders. As Bangkok weighs future safety measures, the demand for earthquake-proof housing is stronger than ever.

 

Based on a story by Bangkok Post

 

-- 2025-04-08

 

 

[ozz1]

Zhu predicts a steady rise in property prices I think he's dreaming

[impulse]

15 minutes ago, ozz1 said:

Zhu predicts a steady rise in property prices I think he's dreaming

 

I'd be predicting a rise in prices in the buildings that suffered no damage.  Simple supply and demand.

 

Units in the buildings that did suffer damage will probably drop in price (and sales volume).  Some to virtually zero.

 

 

 

[Yagoda]

13 minutes ago, impulse said:

 

I'd be predicting a rise in prices in the buildings that suffered no damage.  Simple supply and demand.

 

Units in the buildings that did suffer damage will probably drop in price (and sales volume).  Some to virtually zero.

 

 

 

What would be interesting (and Im not doing it) would be correlating damage reports with developers. I wouldnt buy a condo without research on that.