Maprachan Property Discounts

[johnnybgood]

Well I bought a new built property near Lake Mabprachan, Soi Siam last year, ok qualityand with a good euro exchange rate.

OK enjoy your retirement welcome

Now I feel totally sick

The same construction company is offering huge discounts to sell even more property.

** a Toyota Fortuner for a 2 story

** a Toyota Yaris for a single story

** 40% discount on the planned price

** an exchange rate at 60 baht/pound

Why was I not given such generous terms ?

I'm just a fool getting only 5% discount! (Which was used for the lawyer's fees anyway)

[Journalist]

Sorry to hear of your experience.

Property developers in Thailand are trying to hold the line on pricing. Taking an opposite line and slashing prices creates this kind of ill-will.

However ultimately, they do have to shift their inventories to repay their bank debts, and there has to be a clearance price.

Look on the bright side, ...everyone is down by a third on property (they just aren't acknowledging it, and are keeping sale prices at levels that nobody will touch). You haven't actually lost anything, just down on mark-to-market in the same way everyone else is. Just that you can see it clearer.

You'd have lost more if you held your cash in European bank shares for the last 12 months, then taken this deal

Edited January 21, 2009 by Journalist

[imaneggspurt]

Im afraid its a sign of the (bad ) times,. a friend of mine recently had to sell a property over there and lost 3 million in 2 years on his home,,.he needed to sell to return to the uk and out of all the companies he contacted to list for him only one came up with an offer, ( so he took it ) .its pretty dismal out there right now,.

[thaihome]

Life is pretty much about luck and timing. Particularly property purchases.

Someone else made a very good point about exchange rates and investment returns being included in your calculation of what you think you lost by buying a year earlier.

TH

[quiksilva]

Why was I not given such generous terms ?

Timing.

Take solace in the knowledge that at the time, you were happy to pay the price that was set, for what should be the home of your dreams. So you must have felt that it was worth it, for your retirement.

Also you don't sound like you are planning on selling any time soon, so why do you care what its worth on paper?

[hhgz]

What is the difference in the price you paid, and the price that someone else paid? A million dollars, a hundred-thousand, ten-thousand? Pick a price, and ask yourself if it is worth getting upset about in the long-term.

[pkrv]

Life is pretty much about luck and timing. Particularly property purchases.

Someone else made a very good point about exchange rates and investment returns being included in your calculation of what you think you lost by buying a year earlier.

TH

The EURO THB (not my area) blipped between about 41 and 53 over the last few years and is now on a downward path. It is now about 45.32. I don't know what the guy payed or the rate he got but yes this is in play. The question to ask is if you transferred today what hard euro cash would you have to send? This I am afraid is the life of an Expat.

Interesting though a GBP rate of 60 was being offered we are at about GBPTHB= 48 (thank god I bought at between 75 and 69).

That's how much this can affect you.

Edited January 22, 2009 by pkrv

[mommysboy]

Life is pretty much about luck and timing. Particularly property purchases.

Someone else made a very good point about exchange rates and investment returns being included in your calculation of what you think you lost by buying a year earlier.

TH

The EURO THB (not my area) blipped between about 41 and 53 over the last few years and is now on a downward path. It is now about 45.32. I don't know what the guy payed or the rate he got but yes this is in play. The question to ask is if you transferred today what hard euro cash would you have to send? This I am afraid is the life of an Expat.

Interesting though a GBP rate of 60 was being offered we are at about GBPTHB= 48 (thank god I bought at between 75 and 69).

That's how much this can affect you.

I guess if prices fall 50% as anticipated then you'll have broken even then. When did you buy and how much?