My View On The Housing And Business In Thailand Now

[WilliamCave]

Hello all. My wife and I have been looking around again for a house and business to start again this time wen I got back to thailand. My wife and kids live in the bang bo tong area and I travel for work. Had time this time to take 2 months in the area to drive around and look for a new house and area to start a business for my wife...

My observations are and my wifes,( my wife also speaks english and has a very good education and lived in a western culture with me before for a few years) So my wife has a very good understanding of things as do I ..

After living in thailand for about 6 years on and off, We sold our house there before and now rent a town house, we sold when the market was high.

In the area were we owned before there are about 100 shop homes and noticed that before they were all open and producing something and was a very busy area. Now it looks like a ghost town 6 years later with about 65 % unrented and or for sale. My wife and I both said it looks bad even though some say not in the news paper. When we went out over the past 2 months looking for a new house again, we went to about 70 different housing projects and noticed that about a year ago the same houses we seen then are still for sale and have not sold in almost all the projects. We have so far goten about 45thousand us dollars of many of the prices of the homes. THEY ARE NOT SELLING IT IS A BUYERS MARKET. my wife said to me it looks worse than the last thailand crash she remembers it.

We have many thai friends the haves and have nots. A couple of good friends work for banks and told us that the banks now are telling there realstate side that they have to start dumping the homes they have because they have so many now that with in the next few months is the time to start investing in property and it is still going to drop even more and more. They said to us that they have not seen it this bad since the last big drop in thailand since 1992.

Went down to kason road and down town and noticed it is dead in theses areas. my god how are they getting buy, many frends that own business say they are not even making enough to make the rent or empolyee payroll.

I have never seen thailand business or tourism look like this in the past 6 years. neither have many young thais.

just my observations put your coments let me know what u are seeing out there, not what is being reported in the papers.