Re the materials side of things, between 18 months and 6 months ago the price of steel, transport and many materials skyrocketed as commodities and oil went through the roof. If retail prices are not going back down now, then someone in the trade is making a huge pile are they not? Also I guess in Thailand there is not much room for labour costs to drop much.

That's right Marvo, the builders merchants did not drop their prices back down, if they did at all it was a negligable token gesture that was not noticeable.

At the same times as the oil increase the building contractors wanted increases, partly for materials, partly for fuel as their labour maybe be coming and going from, say Buriram. Much of the labour may be 'camped' here but are not from the immediate area and still have to travel back and forth to see family etc.

As we all know Thais will not drop their prices back down. Also land prices are still rising in some areas, not even standing still.

Burgernev

... mainly wealthy cash-rich Scandanavians, whose currencies have not been hit too hard over the past year...

I wish that was true. The fact is that the Swedish krona has dropped 29.8% against the Thai baht since July 2008 based on today's a'vista rate. The Norwegian krona has also been badly hit although not as bad as the Swedish. With the Danish krone it is a different story and this has to due with their country's economical and financial structures, which are very different to that of the Swedish and the Norwegian.

I wish that was true. The fact is that the Swedish krona has dropped 29.8% against the Thai baht since July 2008 based on today's a'vista rate.

Yes, take your point Stgrhe but my post was referring to year on year for last month, last time I dealt with the currency, which showed a 16% drop.

Your figures are comparing against a particular spike in the rate last July of about 5.6/5.7, something it has not been at for about 3 years.

Burgernev

Re the materials side of things, between 18 months and 6 months ago the price of steel, transport and many materials skyrocketed as commodities and oil went through the roof. If retail prices are not going back down now, then someone in the trade is making a huge pile are they not? Also I guess in Thailand there is not much room for labour costs to drop much.

That's right Marvo, the builders merchants did not drop their prices back down, if they did at all it was a negligable token gesture that was not noticeable.

At the same times as the oil increase the building contractors wanted increases, partly for materials, partly for fuel as their labour maybe be coming and going from, say Buriram. Much of the labour may be 'camped' here but are not from the immediate area and still have to travel back and forth to see family etc.

As we all know Thais will not drop their prices back down. Also land prices are still rising in some areas, not even standing still.

Burgernev

Recession has not even started in full effect in Thailand yet, it will and when it comes alot of people are going to get a wake up call big time. They might not be really dropping prices yet but they will once it starts to tumble, it takes really mnths for these things to pass down the line. Agree right now its clear profiteering, but it will not last as this recession looks to be long and deep. The bite will be deep also in the pockets of thais.

Thais with money are reluctant to invest abroad, for good reason, and interest rates are low, so no need to put their money in the bank. There is an incredible amount of money that would normally be channeled into business expansion and speculative investment in better times. Some of this Thai money is being spent on construction of commercial bldgs. in Hua Hin. Where else for Thais to put their money? I'm afraid it's going to continue until the economy picks up, and that may be a while, a long while. In the meantime, get used to more building.