Samui Property Market Cools

[Rooo]

KANANA KATHARANGSIPORN

Due to limited foreign ownership of property, new residential supply and demand in Samui has struck a balance but more activity is expected to resume next year, according to David Simister, chairman of the property firm CB Richard Ellis. He said that new residential launches in Samui had been very rare, as potential buyers delayed their decisions. All of the launches were of the leasehold type, targeted at foreign buyers.

http://www.bangkokpost.com/Business/13Sep2007_biz48.php

Read the full story.

[tommyj4]

Hasnt the market been cool for over the past year? Is anyone really buying in Samui these days?Is it the logistics & over development that has caused the current climate. Supply & demand!!!

Replies from recent purchasers would be reassuring

[JimmyCA]

Only a matter of time. Beautiful place but word that the locals are a hugh negative is getting out.

[LaoPo]

Nothing wrong with it, but Mr. David Simister is just expressing hope and wishful thinking.

It's the Bangkok Elite, in the end, wo decide.

LaoPo

[womble]

From everyone I have spoken to involved in property interest is starting to pick up. It started to pick up around 6 weeks ago. I am leasing off a commercial property and have had 3 enquiries in 4 days when previously I hadn't had a single enquiry for months.

[Samuian]

Guess the sales are very much linked to many aspects such as price, size, location, contract..

Some of the people (locals) involved in real estate sell as usual, they only smile at news like this.

Same time new projects are are on the table and are going up.

to finally allow foreign ownership or long term (60-99) years of lease would bring an unprecedented boom to the country - but it's entirely up to the powers to be.

[lazeeboy]

Guess the sales are very much linked to many aspects such as price, size, location, contract..

Some of the people (locals) involved in real estate sell as usual, they only smile at news like this.

Same time new projects are are on the table and are going up.

to finally allow foreign ownership or long term (60-99) years of lease would bring an unprecedented boom to the country - but it's entirely up to the powers to be.

99 year leases would certainly kick start the buying and selling ,cant see it happening too soon though

[womble]

Guess the sales are very much linked to many aspects such as price, size, location, contract..

Some of the people (locals) involved in real estate sell as usual, they only smile at news like this.

Same time new projects are are on the table and are going up.

to finally allow foreign ownership or long term (60-99) years of lease would bring an unprecedented boom to the country - but it's entirely up to the powers to be.

99 year leases would certainly kick start the buying and selling ,cant see it happening too soon though

99 year lease and scrapping list 3 would be win/win for the country. Fristly it would seriously kick start the economy, secondly they are not selling off the land, it is still owned by Thai's.

Huge amounts would be invested into the country as Thailand really does have strong Fundamentals, and no government that brings in this law could be accused of selling off the family silver as after 99 years it reverts back to the original owner.

[highdiver]

Guess the sales are very much linked to many aspects such as price, size, location, contract..

Some of the people (locals) involved in real estate sell as usual, they only smile at news like this.

Same time new projects are are on the table and are going up.

to finally allow foreign ownership or long term (60-99) years of lease would bring an unprecedented boom to the country - but it's entirely up to the powers to be.

99 year leases would certainly kick start the buying and selling ,cant see it happening too soon though

99 year lease and scrapping list 3 would be win/win for the country. Fristly it would seriously kick start the economy, secondly they are not selling off the land, it is still owned by Thai's.

Huge amounts would be invested into the country as Thailand really does have strong Fundamentals, and no government that brings in this law could be accused of selling off the family silver as after 99 years it reverts back to the original owner.

that could be nice..

but if all those forigners pour in and lease the land for 99 years where will all the thai people live?

in Samui the land prices dont seem to stop if they get any higher they will atill be viable to forigenrs but how many thais will be able to live here?

and some of our members who are living here because its "cheaper" then the west will be left homeless and move to Laos or cambodia and we wouldnt want to have that will we???

when looking at this from an economical point this sudden change can spark a huge inflation..

Edited September 14, 2007 by highdiver

[lazeeboy]

Guess the sales are very much linked to many aspects such as price, size, location, contract..

Some of the people (locals) involved in real estate sell as usual, they only smile at news like this.

Same time new projects are are on the table and are going up.

to finally allow foreign ownership or long term (60-99) years of lease would bring an unprecedented boom to the country - but it's entirely up to the powers to be.

99 year leases would certainly kick start the buying and selling ,cant see it happening too soon though

99 year lease and scrapping list 3 would be win/win for the country. Fristly it would seriously kick start the economy, secondly they are not selling off the land, it is still owned by Thai's.

Huge amounts would be invested into the country as Thailand really does have strong Fundamentals, and no government that brings in this law could be accused of selling off the family silver as after 99 years it reverts back to the original owner.

that could be nice..

but if all those forigners pour in and lease the land for 99 years where will all the thai people live?

in Samui the land prices dont seem to stop if they get any higher they will atill be viable to forigenrs but how many thais will be able to live here?

and some of our members who are living here because its "cheaper" then the west will be left homeless and move to Laos or cambodia and we wouldnt want to have that will we???

when looking at this from an economical point this sudden change can spark a huge inflation..

i promise not to put the rent up when it happens

[womble]

Guess the sales are very much linked to many aspects such as price, size, location, contract..

Some of the people (locals) involved in real estate sell as usual, they only smile at news like this.

Same time new projects are are on the table and are going up.

to finally allow foreign ownership or long term (60-99) years of lease would bring an unprecedented boom to the country - but it's entirely up to the powers to be.

99 year leases would certainly kick start the buying and selling ,cant see it happening too soon though

99 year lease and scrapping list 3 would be win/win for the country. Fristly it would seriously kick start the economy, secondly they are not selling off the land, it is still owned by Thai's.

Huge amounts would be invested into the country as Thailand really does have strong Fundamentals, and no government that brings in this law could be accused of selling off the family silver as after 99 years it reverts back to the original owner.

that could be nice..

but if all those forigners pour in and lease the land for 99 years where will all the thai people live?

in Samui the land prices dont seem to stop if they get any higher they will atill be viable to forigenrs but how many thais will be able to live here?

and some of our members who are living here because its "cheaper" then the west will be left homeless and move to Laos or cambodia and we wouldnt want to have that will we???

when looking at this from an economical point this sudden change can spark a huge inflation..

Ofcourse that is a valid point, when land prices rise where will the locals live.....

I'd say land prices are already so high that poorer Thai's or even average Thai's couldn't aford to buy land in Samui.

So a further rise in prices will not stop them owning, merely it will make the price even further from what they could afford which is irrelavant as they don't have enough $ to buy it now anyway at todays market prices.

As always with economics there are winners and losers, we can't keep everyone happy. As is normal in these situations all over the world, the poor move out and the rich move in. Central London is an example. Lots of foriegn money, locals sell up and move out to cheaper areas. This isn't something that only effects poor developing nations.

My hometown Brighton in UK saw prices go through the roof as londoners bought second homes and europeans bought property. I sold out and moved here.

Perhaps a tax could be levied when the lease is registered that goes towards subsidising cheap housing for locals (local samui not outsiders or local speculators who lost everything) who are disadvantaged and unable to pay the high rents.

Personally I would have no problem paying an additional tax to help locals in return for the added security and benefits a 99 year lease would give.

Edited September 14, 2007 by womble

[BigC]

if you are going to build better off with hotels. the problem is when you are realying on one customer things like politcal staus could affect everything. specially if you have a loan interst to pay off.

i would build hotel if had my time again.

never minde

[Samuian]

Well, some of those who owned Land and sold are all smiles, their children have/had a good (oversea) education, some bought much, much more land for the money on the main land in no, no farang county...

Some have been smart, some not like in real life and if 1500.- for a small unit is too much to afford...same time the salaries are going up, not much but - there is a clear trend.

I know some VIP's which wouldn't have draemt of th is 15 years ago, now they are grown up's and laughing!

If the 99 year thing could really be kicked in, I think they would be :rofl:!

It's not (yet) all held by foreigners....!

Since people got smarter, if I am not wrong BigC (f.E.) leased the space they build on... and there is a trend too, the locals got the idea... they are certainly NOT stupid... he who thinks they are, is...!

[Trollster]

I am interested in buying a condo on samui. I have seen some reasonably priced condos but not sure about location etc. One was on Cheong Mon which I never really liked but seems to be a center of recent development. I would appreciate if anyone here could drop me a line with an update on the current market conditions in Samui as well as names of any interesting condos that they know are being buil - not only on paper.

My budget is approx 2-4 million baht. Iappreciate your help.

[Noodles]

My budget is approx 2-4 million baht. Iappreciate your help.

I'm not sure you will find alot here [condos] with a budget of 2-4 million..... 24 million yes

[suegha]

My budget is approx 2-4 million baht. Iappreciate your help.

I'm not sure you will find alot here [condos] with a budget of 2-4 million..... 24 million yes

You'll still find a nice little house for 4 million!

[skipdivils]

I am interested in buying a condo on samui. I have seen some reasonably priced condos but not sure about location etc. One was on Cheong Mon which I never really liked but seems to be a center of recent development. I would appreciate if anyone here could drop me a line with an update on the current market conditions in Samui as well as names of any interesting condos that they know are being buil - not only on paper.

My budget is approx 2-4 million baht. Iappreciate your help.

Try out Samui Sanctuary.

www.samuisanctuary.com

It looks nice, and is in a well established area. Seems they have condos that fit in your price range.....

[suegha]

I am interested in buying a condo on samui. I have seen some reasonably priced condos but not sure about location etc. One was on Cheong Mon which I never really liked but seems to be a center of recent development. I would appreciate if anyone here could drop me a line with an update on the current market conditions in Samui as well as names of any interesting condos that they know are being buil - not only on paper.

My budget is approx 2-4 million baht. Iappreciate your help.

Try out Samui Sanctuary.

www.samuisanctuary.com

It looks nice, and is in a well established area. Seems they have condos that fit in your price range.....

I'm sorry, I checked the link and couldn't find the prices for these properties! Any extra info, as I might be interested...

[Tony121]

samui sanctuary prices start 2.9 million for apartments not condo's which means if they havn't got a condo license you have to lease for 30yrs a think ? same as buying a house. I think condo licenses aren't easy to get so they will be more expensive than apartments

[Trollster]

Thanks for the info on Samui Sanctuary - they state they are freehold condos so it looks like a go for me to continue dd on this condo - fits my budget but not sure of location in Cheong Mon. I have made contact and will investigate frther - any other feedback on location issues etc would be appreciated. Is Cheong Mon in building boom mode- been 3 tears since I last visited Samui. Price seems right on for my budget and the fact that they are building villas and houses gives me some assurance that the condos will be built. Surprisingly - very few sold - must be the soft market - can leverage for larger discount.

[skipdivils]

if you go to the website www.samuisanctuary.com and look under the prices/availability section then click on the condo units themselves, the prices come up i think.....

[suegha]

if you go to the website www.samuisanctuary.com and look under the prices/availability section then click on the condo units themselves, the prices come up i think.....

Yes that's true, I didn't suss how it worked at first. They look good though. I have emailed for mor detail.

[Trollster]

I have sent two requests for info with no reply. Guess sales are too good to follow up with customers online. I will contact directly when I visit Thailand in December. If anyone has been to the site and has more details please send me pm.

[suegha]

I have sent two requests for info with no reply. Guess sales are too good to follow up with customers online. I will contact directly when I visit Thailand in December. If anyone has been to the site and has more details please send me pm.

This email address worked for me

david@ real-samui-properties.com

Don't know if it's okay to post email address in a thread. If it's not I'll pm the detail.

[Geppis72]

I have sent two requests for info with no reply. Guess sales are too good to follow up with customers online. I will contact directly when I visit Thailand in December. If anyone has been to the site and has more details please send me pm.

Hi Trollster, I PM you for additional informations.

bye

[Trollster]

Thanks for the PM. An agent and the builder have both contacted me. Things look very attractive price wise but hard to get a handle on things until I see the site for myself next month.

[suegha]

Thanks for the PM. An agent and the builder have both contacted me. Things look very attractive price wise but hard to get a handle on things until I see the site for myself next month.

Be sure to keep us informed...

[skipdivils]

So.....what's the update? Any more word on samui sanctuary? i am curious to know....that place looks interesting

[Trollster]

Waiting for more details from the estate agent. In any case I will be in Thailand late next month and will fly to Samui to check things out myself. I am also looking into Arisara Place off ring road. I have a friend who has lived in Samui for a few years and he will check both places out for me before I arrive. Will post more details asap. If any other interesting condos come up - please post as I guess there will be more to come as land issues still exist for foreigners.

[Trollster]

The estate agent handling the Samui Sanctuary condo has gotten back to me. There have been some significant changes. Instead of a number of smaller inexpensive units- they have gone the route of larger units with prices starting around 6 million baht. So it looks like I will stick to Arisara which only has a few units left. I may have to wait for the next launch of budget condos around Samui......