Fire Sale Prices Without Loss

[beginner]

There is a lot of gloom about the possibility of selling houses on this forum.

At the same time many new estates are being built and occupied and even more are under construction East of Sukhumvit. It seems that the reason is the price. The successful estates are priced realistically for the local Thai market. Houses from 1 million baht upwards.

Has anyone who is desperate or perhaps better to say, highly motivated, tried to sell by reducing their farang estate house price sufficiently to create some interest from bargain hunters? eg built and sold for 4.5million . Now on SALE for 3.49million!!

That represents a reduction is price of 23% yet it would enable a seller who originally brought in cash from Australia at 30 baht to the AUD to more or less break even! Bought baht at 30 AUD. Buy AUD back again at 23 at todays prices.

The sums are similar for all the main Farang currencies. Anyone who used UK Pounds to buy baht in 2004 got 74 per pound. Now they can buy their pounds back at 53. Thats 28%.

Surely, a house put up for sale at 28% off its original purchase price would create some interest. "I paid 4.5m but its yours for 3.25m". That sounds like a persuasive headline to me. Someone is advertising their condo on TV at present. He claims to be the actual owner/seller. Thats what I call a determined vendor.

If you are prepared to take a 'loss' then you could make an even more dramatic reduction and regard the 'loss' as rent paid for the pleasure and enjoyment of living in that house.

It goes against the Western mindset to sell property for less than you paid for it but these are unusual times. A quick sale may be the only sale you will get before things change for the worse again. (or maybe for the better, who knows?)

This won't work for everyone and most people here bought to nest not to invest with a cash sum and are very happy to carry on regardless of the theoretical value of their house.