The whole housing market in Thailand is in a mess, with about 50% of the 2-3 story lock-ups built and unsold some units for a few years now, and this is just in my area. Or a few that are just rented out, not enough income for the owner to pay back the borrowed money to build them. Now,as the Op is saying up to condos in big cities, I blame the banks, do they not have a property manager that knows the market and says that when our Somchie wants a loan to build an X-story block condominium, and says no, the market is saturated with unsold units, why build some more? Somchie says, I know I can sell mine and make a good profit, not looking 2km down the road at the unsold units. And of course, Somchai's mate, who has built the condominiums, cannot sell them but will not reduce the price to shift them, probably puts the price up as inflation and spiraling interest rates take hold,a catch22. No answer to the problem, will it be history repeating itself?, Time will tell.
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