Empty Commercial Buildings Along The Main Road

[livinthailandos]

Didn't see any particular posting on this, so if it has been written let me know. Is it me or is there a lack of something, I notice from driving from at least maenam to chaweng all these high commercial buildings are:

ready for use

being built

and totally empty

but honestly I dont see any demand for them. just lots and lots of supply. They probably stay empty well into next year. also note most have no parking spaces in front. So tell me your comments on this as I see them as just a waste of using land.

[malcolmswaine]

I'd say they'll get rented out, but maybe more slowly than the developers had hoped. I wouldn't expect many of the town-house style buildings to be empty for more than another six months.

Edited November 15, 2008 by malcolmswaine

[thaierless]

I'd say they'll get rented out, but maybe more slowly than the developers had hoped. I wouldn't expect many of the town-house style buildings to be empty for more than another six months.

and you are living on what planet?

[malcolmswaine]

On the island on the planet where everyone wants to start a business and live in paradise without doing the math first unfortunately.

[Gatorade]

Didn't see any particular posting on this, so if it has been written let me know. Is it me or is there a lack of something, I notice from driving from at least maenam to chaweng all these high commercial buildings are:

ready for use

being built

and totally empty

but honestly I dont see any demand for them. just lots and lots of supply. They probably stay empty well into next year. also note most have no parking spaces in front. So tell me your comments on this as I see them as just a waste of using land.

Your right, they are springing up anywhere where there is no prime beach land. They are totally characterless and for the most part remain empty. See what has happened in Phuket. I'm not sure if this sort of house attracts a government rebate as they are "commercial" but they are not exactly pleasing to the eye. Not that the developers give a dam_n. I hope that KP doesn't fall victim to these eyesores as well.

[mattias33]

I agree with everything in the op.

This is a kind of thread that will get all kind of different answers. Theres the guys that buy into this stuff and beleive in it, and there is the other side. I´m not gonna join the debate between the two sides, my only comment is that when half of the stuff is empty, in my school that means over-development.

Have to say these developers are very fun to speak to in real life. My god the beleive they have in Samui future and buisness in general! They are something else. Fact being that some of them probably do make alot of money. Fact also being that the major part of them are in it only for high hopes and dreams? .

Samui real estate, a big fantasy or reality? Well, i have my oppinion but i guess its not always valid.

Good luck to the boys involved.

[Birdman]

I agree with everything in the op.

This is a kind of thread that will get all kind of different answers. Theres the guys that buy into this stuff and beleive in it, and there is the other side. I´m not gonna join the debate between the two sides, my only comment is that when half of the stuff is empty, in my school that means over-development.

Have to say these developers are very fun to speak to in real life. My god the beleive they have in Samui future and buisness in general! They are something else. Fact being that some of them probably do make alot of money. Fact also being that the major part of them are in it only for high hopes and dreams? .

Samui real estate, a big fantasy or reality? Well, i have my oppinion but i guess its not always valid.

Good luck to the boys involved.

...just wait and see. There will be many new hotels in the near future. Therefore the market will be much more aggressive to get all the customers to Samui (...IBIS is here to stay already...) Therefore they will get them. Don't forget Koh Phangan - the airport is on Samui...

Which brings us to more people coming to Samui, making more businesses, filling all the empty places and creating new ones...

I don't like that, but it will be, so I accept it.

[PoorSucker]

There are two opinions in this matter.

Prices will go up = Own property.

Prices will go down = Not own property.

Very easy to see if a poster own property or not.

[Rooo]

I agree with everything in the op.

This is a kind of thread that will get all kind of different answers. Theres the guys that buy into this stuff and beleive in it, and there is the other side. I´m not gonna join the debate between the two sides, my only comment is that when half of the stuff is empty, in my school that means over-development.

Have to say these developers are very fun to speak to in real life. My god the beleive they have in Samui future and buisness in general! They are something else. Fact being that some of them probably do make alot of money. Fact also being that the major part of them are in it only for high hopes and dreams? .

Samui real estate, a big fantasy or reality? Well, i have my oppinion but i guess its not always valid.

Good luck to the boys involved.

...just wait and see. There will be many new hotels in the near future. Therefore the market will be much more aggressive to get all the customers to Samui (...IBIS is here to stay already...) Therefore they will get them. Don't forget Koh Phangan - the airport is on Samui...

Which brings us to more people coming to Samui, making more businesses, filling all the empty places and creating new ones...

I don't like that, but it will be, so I accept it.

There are two opinions in this matter.

Prices will go up = Own property.

Prices will go down = Not own property.

Very easy to see if a poster own property or not.

A lot of building will take place soon.Reason being ,of some decisions being made RE growth on the island & future sustainability of services being provided.I dont want to spell it out,but read between the lines.

So I guess if you own propery,you will make money.

[thaierless]

On the island on the planet where everyone wants to start a business and live in paradise without doing the math first unfortunately.

[thaierless]

I agree with everything in the op.

This is a kind of thread that will get all kind of different answers. Theres the guys that buy into this stuff and beleive in it, and there is the other side. I´m not gonna join the debate between the two sides, my only comment is that when half of the stuff is empty, in my school that means over-development.

Have to say these developers are very fun to speak to in real life. My god the beleive they have in Samui future and buisness in general! They are something else. Fact being that some of them probably do make alot of money. Fact also being that the major part of them are in it only for high hopes and dreams? .

Samui real estate, a big fantasy or reality? Well, i have my oppinion but i guess its not always valid.

Good luck to the boys involved.

...just wait and see. There will be many new hotels in the near future. Therefore the market will be much more aggressive to get all the customers to Samui (...IBIS is here to stay already...) Therefore they will get them. Don't forget Koh Phangan - the airport is on Samui...

Which brings us to more people coming to Samui, making more businesses, filling all the empty places and creating new ones...

I don't like that, but it will be, so I accept it.

There are two opinions in this matter.

Prices will go up = Own property.

Prices will go down = Not own property.

Very easy to see if a poster own property or not.

A lot of building will take place soon.Reason being ,of some decisions being made RE growth on the island & future sustainability of services being provided.I dont want to spell it out,but read between the lines.

So I guess if you own propery,you will make money.

there is no two sides here....we are entering the first global depression in 100 years...property is worthless...at least for the next 5 -10 years

[samuibeachcomber]

owning property does n't always=make money.It has to be the right property in the right place at the right time and at the right place.The OP was just stating that there seems to be a lot of property vacant at the moment with a lot of new ones continually being built.The trouble with the big resoorts being built is the time frame it takes to complete but these big organisations can probably afford to wait and hope for increases in tourist numbers further down the track.But nothing is certain and many fingers have been burnt in property deals private and commercial.

[highdiver]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

[Rooo]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

[mattias33]

First of all it´s nice to see a good post from highdiver for a change and i especially enjoyed the opening line! .

Roo says:

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

Are there 100 000 more people moving to samui within the next year? That would be the money bringing factor these developments need. With all the empty houses and from what i know most of us living here have a place to stay already i can´t see any other secret to this than an extreme boom in samui population.

For the hotels that are already empty and the hotels being built, still the factor would be an extreme increase in tourists but from what most people in that industri say they are expecting the absolute opposite for the next years. Experienced hotel/restaurant owners and other tourist-dependig buisness-men all agree that it is looking dark. Samui (and thailand in general for that matter) tourism is going down, not up. At least thats what i hear.

Roo, you might have contacts and side information that the rest of us don´t have about whats going to happen in Samui. However it´s the simple facts that rule this buisness. Hotels depends on tourists. House developments depends on amount of people wanting a house. Everything else is just bs.

Sorry.

[Gatorade]

First of all it´s nice to see a good post from highdiver for a change and i especially enjoyed the opening line! .

Roo says:

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

Are there 100 000 more people moving to samui within the next year? That would be the money bringing factor these developments need. With all the empty houses and from what i know most of us living here have a place to stay already i can´t see any other secret to this than an extreme boom in samui population.

For the hotels that are already empty and the hotels being built, still the factor would be an extreme increase in tourists but from what most people in that industri say they are expecting the absolute opposite for the next years. Experienced hotel/restaurant owners and other tourist-dependig buisness-men all agree that it is looking dark. Samui (and thailand in general for that matter) tourism is going down, not up. At least thats what i hear.

Roo, you might have contacts and side information that the rest of us don´t have about whats going to happen in Samui. However it´s the simple facts that rule this buisness. Hotels depends on tourists. House developments depends on amount of people wanting a house. Everything else is just bs.

Sorry.

I don't see too much UK or Oz investment if the Baht carries on remaining strong. Today.. 1.51 Baht to the UK pound!! Expect a lot fewer tourists as well.

[MSingh]

With regards to the OP & Units on the Main Road being totally empty, i think you'll find that the vast majority of the % of Units are developed by Thai's who have little or no idea about Marketing & have the Land in the first place, see what their Neighbours do & just copy it & expect it to work without doing the Math or Marketing/Advertising except for a Phone Number on a bit of A4 Paper that they put in the Windows..

However, some of the Foreign Developers are not much different..

Take that new place next to Tesco's for example ( i know there was a Post on it recently complaining about the Peak & Market accross the road ), Samui owned & Developed, they have xx amount of Units that they want to Rent out both Long Term & Short Term so who do they get as one of their first Tenants ???

A Beer/Pool Bar who even advertise themselves on the Boundaries of the Devoplement on the Main Road !!!!

Now that's what i call executing an excellent Marketing Plan giving off an excellent perception of the Development..

[thaierless]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

don't worry too much about pissing off pond scum...and the vast majority of them, compared to a few years ago gone anyway (proving our point) and, hopefully, reality will continue to clean the water

[thaierless]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

Roo, please support your assertions with verifiable facts or withdraw your comments..."there are decisions being made"

[highdiver]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

Roo, please support your assertions with verifiable facts or withdraw your comments..."there are decisions being made"

rRoo is probably referring to what is a rumor around city hall (it is a rumor )that they are going to hold off new construction permits and not allow further construction. the arguments made in favour of this by members of the new administration is that untill they as the city can provide proper inferstructure they will not allow further construction...

more so...some of the very questionable permits given out are going to be reexamined..

AMEN....

[Rooo]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

Roo, please support your assertions with verifiable facts or withdraw your comments..."there are decisions being made"

rRoo is probably referring to what is a rumor around city hall (it is a rumor )that they are going to hold off new construction permits and not allow further construction. the arguments made in favour of this by members of the new administration is that untill they as the city can provide proper inferstructure they will not allow further construction...

more so...some of the very questionable permits given out are going to be reexamined..

AMEN....

Thank you Highdiver,but I honestly think it is a bit more then a rumour.As far as I can assert,decisions have taken place earlier on last week.Hope they materialise.

[thaierless]

while in most posts i beg to differ on thierless and mattias. i find myself in total agreement this time...

it must be those climate changes

there is a huge over supply of shop houses. there is a huge over supply of projects and with in 8 months there will also be an over supply of hotel rooms.

there are limitations on the islands infer structure and there are limitations on the airport. both of which have been discussed here extensively.

the tourist growth rate while up is not catching up with the hyper development.

this however has not stopped anyone from buying into the dream of owning and developing in samui. while the first developer did make good investments the explosion we see now is a bubble and many developers are now in a problem even though they will market to us business as usual..

every developer or new hotelier has the same dream of making it in Samui.. and everyone's project is going to be or is planed to be better, more designed, better featured, and more boutique then the others only to be same same of old same at the end.

there are very few projects or hotels that have a unique design location and price that makes them successful.

at the end of the day most villa projects are the same and most hotels are the same.

those who invested money now in new projects have bought land at very high prices and will invest more in high cost construction... making the final sale price very expensive and with the prices of reality falling around the world there is no way they will make a return on investment.

yes there are those few success stories or at least they are stories about success and we never really know if they made money or just telling stories... yes there are those that actually know and have done the math and are very professional and successful.

bot so much development is made by people who are doing it for the first time in their life. an so many hotels opened by people who have no knowledge and experience in the travel industry.

I know what i say will probably piss of those who are developers or real estate agents but there is no escape from the facts that there so many empty vacant and unused properties who owners don't see a dime returning.

You have contacts,maybe you should delve a bit deeper ,you might realise why there is a construction frenzy.As I mentioned in my previous post, there is some decisions being made, that would affect all future new construction on the island.

Roo, please support your assertions with verifiable facts or withdraw your comments..."there are decisions being made"

rRoo is probably referring to what is a rumor around city hall (it is a rumor )that they are going to hold off new construction permits and not allow further construction. the arguments made in favour of this by members of the new administration is that untill they as the city can provide proper inferstructure they will not allow further construction...

more so...some of the very questionable permits given out are going to be reexamined..

AMEN....

Thank you Highdiver,but I honestly think it is a bit more then a rumour.As far as I can assert,decisions have taken place earlier on last week.Hope they materialise.

Okay you two, I actaully hope that is the case...but so called "decisions"...so calledly "taken"....(particularly here)...do not inspire a whole lot of confidence. And, actually, not sure if the tetsabaan can just deny permits...not legally anyway, as long as the proposed building complies with the relevant current law.