I Would Not Want To Have Just Invested In Property In Bangkok

[zorro1]

mmmm that was a joke. However your ability to judge the health of Thai R/E from your balcony at night is beyond strange

[yabaaaa]

Well, I live in a condo in Bangkok on a high floor - rented of course...

It is now night time and I have 2 hours ago just walked onto the balcony and looked 180 degrees from left to right at every other condo building I can see.

In every building I looked at, there was no more than 20 - 30% of the lights on in these buildings.

I have done this for the last 3 months.

What it tells me is that there is a very low occupancy in all these condo complexes including mine!

The whole idea about a forum is to express your opinion - this appears to be a fact that I can see from my window.

I challenge anyone else who lives on a high floor in Bangkok to do the same - and see how the lights have gone out!!!!

God knows where you live then its always like Blackpool illuminations by me! People go out you know.

I'll repeat for you I've got 4 units, 3 full until August next year, one just extended that by a month to September, next available unit is December.

Why repeat what you have already added to the argument, unless it is untrue? I am sure we can all read your previous post. I live in Sukhumvit Asoke by the way..

So why are all the buildings around me empty by the way at 9pm on a week night?

or, you can give me a telephone number of a condo building in Bangkok I can ring tomorrow that is full and I can't book a 12 month rental lease? I will call them tomorrow?

Can you also tell me why only in Thailand (and not the rest of Asia), if a Foreigner buys a condo (that he is entitled to do by law here) the contracts are always written in Thai?

Would you believe me if I told you because its Thailand not Farangland, how many properties can you buy in your own country where they are written in a froeign language as standard?

If youv'e got the time to waste calling every condo block in Bangkok bloody good luck to you . Oh yes sorry I lied I havent really got any condos but its been good entertainment

[bravingbangkok]

mmmm that was a joke. However your ability to judge the health of Thai R/E from your balcony at night is beyond strange

Usually the most important/vital data is gathered from the field.

If anyone is intersted the Address on Petchburi road is selling for 77 000 sq m which I find to be quite reasonable for the location. It was 8? 000 when it had finished a few months back, I think you would be buying directly from the developer as the place seems empty.

[yabaaaa]

Well, I live in a condo in Bangkok on a high floor - rented of course...

It is now night time and I have 2 hours ago just walked onto the balcony and looked 180 degrees from left to right at every other condo building I can see.

In every building I looked at, there was no more than 20 - 30% of the lights on in these buildings.

I have done this for the last 3 months.

What it tells me is that there is a very low occupancy in all these condo complexes including mine!

The whole idea about a forum is to express your opinion - this appears to be a fact that I can see from my window.

I challenge anyone else who lives on a high floor in Bangkok to do the same - and see how the lights have gone out!!!!

God knows where you live then its always like Blackpool illuminations by me! People go out you know.

I'll repeat for you I've got 4 units, 3 full until August next year, one just extended that by a month to September, next available unit is December.

Why repeat what you have already added to the argument, unless it is untrue? I am sure we can all read your previous post. I live in Sukhumvit Asoke by the way..

So why are all the buildings around me empty by the way at 9pm on a week night?

B.O ?

[roamer]

If all the condos built in the CBD were ever to reach 50% occupancy and they all switched on the coffee maker at the same time the fuse would blow.

[yabaaaa]

"When in doubt do what the Thais are doing"

Thais are on a buying spree of undeveloped ocean land in the south and agricultual land in the north. I have no idea what the're doing in Bangkok, but there is more buying activity going on in land than in the 6 years I have been here, from my personal observations. Maybe they're buying the top, I don't know.

Interesting comment about the land out of BKK, I have been looking for a good 12 months for a decent piece of land not too far from the sea (16km) Hua Hin heading south direction. Many times on enquiring they say that the piece w e like has been bought by "someone " from BKK and this is right down to Chumphon. We keep looking......... I'm too bloody fussy that's the real problem I suspect.

Found some nice beach front for about 1 million per Rai down near the Chumphon Mangroves area still unspoilt

[bravingbangkok]

"When in doubt do what the Thais are doing"

Thais are on a buying spree of undeveloped ocean land in the south and agricultual land in the north. I have no idea what the're doing in Bangkok, but there is more buying activity going on in land than in the 6 years I have been here, from my personal observations. Maybe they're buying the top, I don't know.

Interesting comment about the land out of BKK, I have been looking for a good 12 months for a decent piece of land not too far from the sea (16km) Hua Hin heading south direction. Many times on enquiring they say that the piece w e like has been bought by "someone " from BKK and this is right down to Chumphon. We keep looking......... I'm too bloody fussy that's the real problem I suspect.

Found some nice beach front for about 1 million per Rai down near the Chumphon Mangroves area still unspoilt

Looks nice I mil per rai you say ? very nice price considering some of the inflated prices in Bangkok. I am also looking to buy a few Rai for retirement in Hua Hin so let me know how you get on please, Happy hunting !

[roamer]

Some just published data here for those interested:

"Unlike most Asian countries, Thailand saw a drop of 3.47% y-o-y to Q2 2007, from a rise of 3.92% y-o-y to Q2 2006. As with Israel (whose house prices also declined), political turmoil has taken a toll on its housing markets."

Link.

[LaoPo]

Some just published data here for those interested:

"Unlike most Asian countries, Thailand saw a drop of 3.47% y-o-y to Q2 2007, from a rise of 3.92% y-o-y to Q2 2006. As with Israel (whose house prices also declined), political turmoil has taken a toll on its housing markets."

Link.

Thanks for the link.

Maybe this is posted already ? not sure, as I didn't read all posts:

Bangkok yields good at 7.4%

http://www.globalpropertyguide.com/Asia/Th...d/Rental-Yields

LaoPo

[zorro1]

"When in doubt do what the Thais are doing"

Thais are on a buying spree of undeveloped ocean land in the south and agricultual land in the north. I have no idea what the're doing in Bangkok, but there is more buying activity going on in land than in the 6 years I have been here, from my personal observations. Maybe they're buying the top, I don't know.

Interesting comment about the land out of BKK, I have been looking for a good 12 months for a decent piece of land not too far from the sea (16km) Hua Hin heading south direction. Many times on enquiring they say that the piece w e like has been bought by "someone " from BKK and this is right down to Chumphon. We keep looking......... I'm too bloody fussy that's the real problem I suspect.

Found some nice beach front for about 1 million per Rai down near the Chumphon Mangroves area still unspoilt

Looks nice I mil per rai you say ? very nice price considering some of the inflated prices in Bangkok. I am also looking to buy a few Rai for retirement in Hua Hin so let me know how you get on please, Happy hunting !

Braveinbangkok you have drawn attention to yourself with an amazing statement that we are all idiots. Now you are comparing remote mangroved land to the prices in BKK. On your own idiot scale the above is 9+.. keep em coming

[bravingbangkok]

"When in doubt do what the Thais are doing"

Thais are on a buying spree of undeveloped ocean land in the south and agricultual land in the north. I have no idea what the're doing in Bangkok, but there is more buying activity going on in land than in the 6 years I have been here, from my personal observations. Maybe they're buying the top, I don't know.

Interesting comment about the land out of BKK, I have been looking for a good 12 months for a decent piece of land not too far from the sea (16km) Hua Hin heading south direction. Many times on enquiring they say that the piece w e like has been bought by "someone " from BKK and this is right down to Chumphon. We keep looking......... I'm too bloody fussy that's the real problem I suspect.

Found some nice beach front for about 1 million per Rai down near the Chumphon Mangroves area still unspoilt

Looks nice I mil per rai you say ? very nice price considering some of the inflated prices in Bangkok. I am also looking to buy a few Rai for retirement in Hua Hin so let me know how you get on please, Happy hunting !

Braveinbangkok you have drawn attention to yourself with an amazing statement that we are all idiots. Now you are comparing remote mangroved land to the prices in BKK. On your own idiot scale the above is 9+.. keep em coming

Haha you are so funny I forgot to laugh keep them coming

[bravingbangkok]

As I stated it is condos that are priced 100 000 + per sq m that I find to be inflated, 1 mil for 1 rai of land in hua hin ???? Very reasonable seeing it is LAND Zorro !

[Chopper]

Thanks all for such a thoroughly entertaining thread. After watching some posters being nothing short of verbally dismembered they keep coming back for more punishment. Not even taking time out to lick their wounds.

Keep it coming.

[yabaaaa]

Blimey if this is your only form of entertainment in life I find that rather

[Chopper]

Precisely where did I write it is my only form of entertainment?

[iaminwa]

From page 1 of the Business Section in today's Bangkok Post:

http://www.bangkokpost.com/260908_Business...p2008_biz32.php

SV developer nears collapse

Rama 3 Land fails to pick up new partner

Rama 3 Land Co, the developer of SV Complex on Rama III Road, is on the brink of bankruptcy after the administrator of its debt-rehabilitation plan failed to get a new partner to revive the huge condominium project over the past six years.

Rama 3 Land is a joint venture between Sahaviriya City Plc and a Hong Kong developer that went bust during the 1997 financial crisis.

This is just the start of it I am sure!

PRETTY MUCH CLOSES OFF THIS ARGUMENT I THINK!

[yabaaaa]

From page 1 of the Business Section in today's Bangkok Post:

http://www.bangkokpost.com/260908_Business...p2008_biz32.php

SV developer nears collapse

Rama 3 Land fails to pick up new partner

Rama 3 Land Co, the developer of SV Complex on Rama III Road, is on the brink of bankruptcy after the administrator of its debt-rehabilitation plan failed to get a new partner to revive the huge condominium project over the past six years.

Rama 3 Land is a joint venture between Sahaviriya City Plc and a Hong Kong developer that went bust during the 1997 financial crisis.

This is just the start of it I am sure!

PRETTY MUCH CLOSES OFF THIS ARGUMENT I THINK!

I doubt it.......... nothing is ever finished

[yabaaaa]

Precisely where did I write it is my only form of entertainment?

You're right you didn't, but it must be a pretty sad existance if this is a form of entertainment for you

Try looking at Sales of LPN latest developments if you think ALL developers are struggling.

[iaminwa]

Rama 3 Land is a joint venture between Sahaviriya City Plc and a Hong Kong developer that went bust during the 1997 financial crisis.

Lol, and where else besides Thailand can developers who went bust back in 1997, get back into business, and go bust for a second time around in 2008 - why Thailand of course!

[Chopper]

Precisely where did I write it is my only form of entertainment?

You're right you didn't

Thank you.

Edited September 26, 2008 by Chopper

[yabaaaa]

Precisely where did I write it is my only form of entertainment?

You're right you didn't

Thank you.

[THAIPHUKET]

I wonder how you see the situation evolving NOW??

OLD QUOTE=

http://www.bangkokpost.com/260908_Business...p2008_biz32.php

SV developer nears collapse

Rama 3 Land fails to pick up new partner

Rama 3 Land Co, the developer of SV Complex on Rama III Road, is on the brink of bankruptcy after the administrator of its debt-rehabilitation plan failed to get a new partner to revive the huge condominium project over the past six years.

Rama 3 Land is a joint venture between Sahaviriya City Plc and a Hong Kong developer that went bust during the 1997 financial crisis.

This is just the start of it I am sure!

[manjara]

Perhaps of interest to some, I went to see the Thanapat development near Rama 3 again after they were doing some more advertising. I expected that they had built some more townhouses or individual houses, but no, they were still trying to sell the exact same buildings that they were selling more than a year ago. Almost nothing had changed, except that the price had actually gone UP! (I still had the old quotation)

I asked them how they expected to sell something that wasn't selling a year ago for more money than it was priced at a year ago. The sad thing is that they employ the people for peanuts, pay zero in property tax, and they have no doubt covered their costs with the units sold so far, so what incentive do the developers have to offload the rest? not much....

Also went to the Issara in Ladphrao which was trying to sell units at 95k / sqm !!

The Met are still telling me that 150k/sqm is a good price, but some units are now reselling in the 125-135 range (still more to fall, I think)

There's a lot of denial going on...

At least the Pano are actually offering a 10% discount, not quite what it should be (IMHO), but it certainly makes it more attractive (I'd buy there rather than the Met!)