Condo

[thaijasmine]

I only told that I pass every day dozens of unfinished projects since the 1997 crash, I wrote that Thai people like to build new houses and not old ones.

I just ask some questions. I accused nobody of money laundering, just wondering that's all

You give intentions to may posting who are not their at all.

Hi you are effectively quoting from past bad experiences I believe the 1997 crash - And yes there are skeletons all over Bangkok.

This should however be balanced by things like.

New building regulations are now in force.

The Condominium act has been extensively updated and continues to be updated (an old example link below FYI)

http://www.dol.go.th/low_ministry/commandm...do_no3_2542.htm

New building rules are now in place and enforced.

Bank funding for such projects has been really, really tightened up

This is why people are saying there have been a lot of new success and Bangkok has changed because of them.

Sure would I buy off the plan today? No - that would be a risk I can no longer personally afford to take but this is because of my age. If I wished to buy today I would probably now buy in the secondary market.

All the issues you bring up then utterly evaporate! Unless of course you buy into a poorly run Condo. But again even here there is great advice as to what to look out for on the real estate forum.

The only down side at the moment is the uncertainty at the moment. People are waiting to see what is going to happen and that a smooth transition is planned.

Oh really

erm .what about the possibility of a global deflationary spiral....we are not out of the woods yet.

And would that not increase the chances of me getting a cheaper deal in 2 years than I would now ?

[pkrv]

Oh really

erm .what about the possibility of a global deflationary spiral....we are not out of the woods yet.

And would that not increase the chances of me getting a cheaper deal in 2 years than I would now ?

Apologies I should have been clearer henryalleman was concerned about 'skeletons' around Bangkok I was simply saying buying in the secondary market negates the risks of buying off the plan, that's all. <edit ohh and by the way even buying off the plan in a well run project, be prepared for several cardiac arrests! and the time it takes, YEARS! >

As to your other questions take a look at this thread which explores this.

http://www.thaivisa.com/forum/Property-Yea...st-t244276.html

One of the last posts gave a really, really, good overall and recent assessment. This particular poll is just about one year into our predictions. I will bump it at the 1 year mark and close it at the 2 year mark. We shall see the outcome. Another previous poll showed that most people who voted were wrong, the market went up.

I can give a quick observation. I have been looking for the past few weeks in Phuket, Bangkok and now Pattaya. I am trying to figure out where I want to live, and surveying the market seems a good way to go.

Outside of a few developments in prime locations in Bangkok, the market is definitely not up. In Phuket and Pattaya, high end properties are not selling at all. Good developments seem to be doing pretty good. I have seen several that are either sold out, or close to it. But then I have seen many, many that are struggling....and several that have just shut down.

On the resale front, there are deals, but you really have to look around. Kind of a hit and miss thing. I am guessing it is due to the fact there are no mortgages...so people can just sit until they get what they want, or rent it until then.

I have seen a few deals from people who are having to deal with the "final" payment and offering their unit for what they have into it...or sometimes, even less. Especially foreigners who were looking to make a quick buck and have seen their currency devalued vs. the baht as well as economic troubles in their home country (UK, Germany, USA, Russia, etc.).

So, I have seen all that you have mentioned!!!

So basically we are indeed all over the place. It depends on the area you are interested in.

Edited November 5, 2009 by pkrv

[steveromagnino]

I only told that I pass every day dozens of unfinished projects since the 1997 crash, I wrote that Thai people like to build new houses and not old ones.

So just to be clear, you believe Thai people prefer to build new houses, rather than building old ones?

Yes, I believe that to be true also.

And that's today's WORD.

[hhgz]

"If the market is as robust as you are suggesting - why did Raimon Land have to offer its units for sale at half price?"

It didn't.

[thaijasmine]

"If the market is as robust as you are suggesting - why did Raimon Land have to offer its units for sale at half price?"

It didn't.

yes they did

http://www.thaivisa.com/forum/Raimon-Land-...ce-t209217.html

[henryalleman]

I only told that I pass every day dozens of unfinished projects since the 1997 crash, I wrote that Thai people like to build new houses and not old ones.

So just to be clear, you believe Thai people prefer to build new houses, rather than building old ones?

Yes, I believe that to be true also.

And that's today's WORD.

To be clear I was meaning they like to build new houses and NOT BUY old ones, blame it on my poor English

[pkrv]

I only told that I pass every day dozens of unfinished projects since the 1997 crash, I wrote that Thai people like to build new houses and not old ones.

So just to be clear, you believe Thai people prefer to build new houses, rather than building old ones?

Yes, I believe that to be true also.

And that's today's WORD.

To be clear I was meaning they like to build new houses and NOT BUY old ones, blame it on my poor English

You did make yourself a target. So the 97 stuff is there true, but what do you now make of the market? Lots of material has been presented esp the real estate forum section of Thia Visa.

[hhgz]

"yes they did "

No, you are wrong, again. The current discussion is the condo market TODAY, not in August, 2008. Things have changed, whether you know it on not - obviously not. The article was discussed fully when it was first published, and it's obvious that you did not understand it. Here goes: farangs bought more expensive units than Thais. On the average, farangs spent twice as much as Thais on condos. That's it in a nutshell. You didn't know that. You don't understand that. In one fell swoop, you made it clear than you understand neither the economy nor the real estate market.

[thaijasmine]

"yes they did "

No, you are wrong, again. The current discussion is the condo market TODAY, not in August, 2008. Things have changed, whether you know it on not - obviously not. The article was discussed fully when it was first published, and it's obvious that you did not understand it. Here goes: farangs bought more expensive units than Thais. On the average, farangs spent twice as much as Thais on condos. That's it in a nutshell. You didn't know that. You don't understand that. In one fell swoop, you made it clear than you understand neither the economy nor the real estate market.

YES ! you are right..........I dont understand an economy which increases the price of things after they fail to sell

and where the real estate market is THE ONLY one in the entire world where those with a vested interest claim

it only goes up...........Amazing Thailand is huge understatement

[pkrv]

"yes they did "

No, you are wrong, again. The current discussion is the condo market TODAY, not in August, 2008. Things have changed, whether you know it on not - obviously not. The article was discussed fully when it was first published, and it's obvious that you did not understand it. Here goes: farangs bought more expensive units than Thais. On the average, farangs spent twice as much as Thais on condos. That's it in a nutshell. You didn't know that. You don't understand that. In one fell swoop, you made it clear than you understand neither the economy nor the real estate market.

YES ! you are right..........I dont understand an economy which increases the price of things after they fail to sell

and where the real estate market is THE ONLY one in the entire world where those with a vested interest claim

it only goes up...........Amazing Thailand is huge understatement

Sorry thaijasmine you are being far too simplistic. Even those who have vested interest as I do, I own a condo (do you?) do not lump all of Thailand into one bundle. Thankfully we on the property forum have finally managed to split out condominium ownership from house/land ownership and we as Farangs are the better off for it, and understand the issues associated with both markets far more clearly.

Next stop location (it's a big country )

Edited November 6, 2009 by pkrv