Property In Patong

[patong]

how is the property market in patong, is anyone buy? is there any money tobe made?

[sassienie]

Dun no, dunt care.

[maahuanao]

Dun no, dunt care.

Good to see people being civilised and encouraging new posters.

[pagallim]

And your expected response is???

[LivinginKata]

Your question is very vague. If you read the property magazines the reports are very rosy, if you actually drive about in Patong the picture seems much different. There are a huge amount of apartments either just completed, or in build. Some of the bigger development seem to have stopped work, all seem to have slowed down. I just can't see how all these new apartments can be sold on, or be rented out. I doubt there is any quick money to made, need to be in it for the long long haul. If you want to buy there might be some bargains about, but on Phuket Island owners tend to hold out for years to sell for their target price. Just my view, I'm not in the property sales business, although I have an interest in the property rental business.

[patong]

many thank's, livinginkata

Edited October 22, 2009 by patong

[petercallen]

All over phuket including patong there are lots of property's for sale and rent and party finished blocks of apartments they have stopped working on, in most country's the owners would reduce the price to sell the property, this dosnt happen here up to date, if they cant sell a property they put the price up which is a funny way of thinking. I personally believe there will be some good buys around in the near future.

[katabeachbum]

According to stats from land office very high end properties have sold well past 12 months in Phuket. Not so many of them in Patong. Most properties are selling slowly, but Phuket property is not often given away. Sellers seem to be able to hold on until market improves, partly since very little property in Phuket is financed