Why Are Propertys So Ridicculously Overpriced In Phuket

[seaeagle]

only reason prices are so bad is people don't look around

http://www.baanthail...+villas/1001916

i went to see it, well worth the price. sea view from balcony. Seems like its built on western standard.. good materials and everything straight/done to perfection.

Also a few months ago i found about 1 rai for 1mil baht IN phuket town

looks like it was built by a 5 year old out of lego!

Cheeky git!! My 5 yr old was building stuff like that when he was 3! :lol:

[logbags]

OH THAT OLD CHESTNUT. FACT IS THAT THAI MATE OF YOURS WILL ALMOST CERTAINLY WANT HIS/HER CUT .... FROM BOTH PARTIES

# Unlike the farang agents who work tirelessly for free and never advertise price inflated properties ay

IF IT REALLY WAS THAT LONG, QUITE POSSIBLY DEAD AND NO FAMILY TO CARE OR INHERIT.

# Or simply nobody wants to either rent OR buy it.

I'd wait til after this OH NOT AGAIN high season as many people WHO RELY SOLELY ON A THAI BIZNIZ.

# Or farang agents who make a living selling real estate

I guess the Laguna just recently sold their large hotel in Phuket (to move into other Asian countries) because they were making so much money from it Last year I saw a guy I know who works for one of the biggest tour agencies in Bangkok. He said if they had to rely only on Thai tourism the company would close tommorow and it was their Cambodian and Vietnam interests that were saving them. I hear the same things over and over again, Phuket has become too overdeveloped and lost too much of it's natural charm to excite people anymore. Even the most die hard Patong bar crawlers I know who have been coming for 15 years are talking about finding somewhere new a little bit less overdeveloped.

I see places like Patong doing ok whilst there are new markets like Russia and the Middle east to attract but a lot of people are now talking about Phuket as a place to party for a few days before going elsewhere to dive or relax. Yesterday somebody told me the Laguna is fully booked right through to March but I hear that everywhere. So who really knows?

[LivinLOS]

Leave at 6am.. HH for 1pm then ?? (7 - 7:30 hours is usual HH if the missus doesnt need 3 rice stops and separate pee breaks)..

The challenge drive is Phuket Chiang Mai or Phuket udon thani.. Thats a full days drive..

Why would i want to drive all the way to Chang Mai i one day.

I have all the time i want to travel

Why drive around 1400/1500 KMS in one day

I had things to do.. Will probably need to do it again next month..

Need to be at an appointment on the 18th and been invited to a khunyings house for Loy Kratong party on the 20th..

But I dont actually find it that hard, used to drive for days straight with an old biz..

[Valentine]

only reason prices are so bad is people don't look around

http://www.baanthail...+villas/1001916

i went to see it, well worth the price. sea view from balcony. Seems like its built on western standard.. good materials and everything straight/done to perfection.

Also a few months ago i found about 1 rai for 1mil baht IN phuket town

looks like it was built by a 5 year old out of lego!

When I saw the billboard advertising those homes I thought they looked OK & a reasonable price. So I drove out there to have a look & immediately changed my mind. Rubbish homes in a rubbish location. I don't know why but it reminds me of the expensive homes in Saiyuan on the right hand side a couple of hundred metres up from Wichit. Good location but makes me think of Egyptian mud brick homes.

[steelepulse]

>>I don't know why but it reminds me of the expensive homes in Saiyuan on the right hand side a couple of hundred metres up from Wichit

Not those cheesy pink houses that they couldn't sell as all were too small, so they decided to then paint them all the same colour in the hopes that someone would either rent or buy? There's what, about 1/2 metre between structures? Not sure expensive is the right word, but overpriced seems appropriate.

Edited October 30, 2010 by steelepulse

[Valentine]

>>I don't know why but it reminds me of the expensive homes in Saiyuan on the right hand side a couple of hundred metres up from Wichit

Not those cheesy pink houses that they couldn't sell as all were too small, so they decided to then paint them all the same colour in the hopes that someone would either rent or buy? There's what, about 1/2 metre between structures? Not sure expensive is the right word, but overpriced seems appropriate.

Must be the same ones, on the turn off to Atsumi. Yes overpriced is a better descriptive & quite a weird design. When they first went up they reminded me of Cairo.

[KarenBravo]

Those houses had a bit of a problem.

They all have spiral staircases inside which makes it almost impossible to install beds, sofas etc.

[inmysights]

Even at the reduced price the places we have seen are overpriced.

If and when we find what we want i will make a cash offer, if its not accepted there are lots of other houses available

I am seriously thinking about Hua Hin and other areas, another lost buyer in Phuket

Oh no!

Are you the type of person who likes to stalk the forum hiding behind a keyboard,

Or just a frustrated seller or agent.

Or maybe you do not even live here and haven't a clue.

Wrong on all three counts. (Hiding behind a keyboard?!) (stalking?!) (note to mods, is there a 'paranoia emoticon?)

Neither 'frustrated seller nor agent. I could afford to build a property here, and did. With which I am very happy

Have lived here for fifteen years, witnessing devastation of once beautiful island (but still yards better than Hua Hin ...) and my most pertinent clue as to your post was that you came here hoping for a 'fire sale' and didn't get one.

Your comment 'another lost buyer in Phuket' arrogant in the extreme. Boo hoo .:jerk:

Try Isaan.

Edited October 30, 2010 by inmysights

[phuketrichard]

only reason prices are so bad is people don't look around

http://www.baanthail...+villas/1001916

i went to see it, well worth the price. sea view from balcony. Seems like its built on western standard.. good materials and everything straight/done to perfection.

Also a few months ago i found about 1 rai for 1mil baht IN phuket town

But foreigners don't want to buy in Phuket Town, they're looking to buy somewhere near the beach - preferably beach front.

Property is over-priced because the sellers don't realise that they're asking too much and are determined to make a profit - even when nobody's buying....

The wealthy Thais that have built houses for Westerners aren't prepared to accept less than they originally thought they would get. Instead they put the price UP to make up for the loss of bank interest on the money....

The Westerners looking to sell their house look at those house prices and think that's the 'going price'. So nobody sells anything, except the lucky few who either have beach-front property or are prepared to accept a price someone is prepared to pay.

HUH???? where in phuket are there ANY houses that are beach front. I have been here for 20++ years and the only beachfront properties that i know of are in Kalim and many of them have been sold, knocked down and rebuilt more than once

Plenty of very nice developments in Kathu around the Golf course for 9-12 mil. U wont find anything value for money that has a water view east or west coast. Unless you go back into the hills.

Have seen houses here in Kamala for sale for over 4 years and the price keeps dropping. I am so glad i sold my house here 2+ years ago.

Rent is the best deal in this country than when the shit hits the fan ( and it will) u pack ur bags and go.

What amazes me is the amount of condos being built and the 49% sells but the rest doesn't . So come 4-5 years when they need work on the exterior Only the Farangs are there to pay for it. Bad investment.

If u must buy look at buying land here in Kamala. They will soon pave the road between Kamala and Kahtu weaterfall so easy access to Town and schools and kamala is one of the best places on the island as it has a mix of Farang and thais (unlike Karaon/Kata)

[HDRIDER]

It’s not only the land that’s expensive, also look at the house price if its build to western standard, if you want a Thai house it’s a lot cheaper everybody know that but if you want to live like in the west then you have to pay, i just found out that my sink in master bathroom is from US and cost 41K, and in the other bathroom it cost 25K i really don’t hope they brake. My wooden deck around the pool is imported from Australia, and hard to find the same type of wood again, i have no idea why they don’t use Thai wood, i can see now that a lot of the stuff in the house is imported, they have used copper pipe for water everywhere, so in the end that’s gonna ad a lot to the price of the land/house.

[petercallen]

It's not only the land that's expensive, also look at the house price if its build to western standard, if you want a Thai house it's a lot cheaper everybody know that but if you want to live like in the west then you have to pay, i just found out that my sink in master bathroom is from US and cost 41K, and in the other bathroom it cost 25K i really don't hope they brake. My wooden deck around the pool is imported from Australia, and hard to find the same type of wood again, i have no idea why they don't use Thai wood, i can see now that a lot of the stuff in the house is imported, they have used copper pipe for water everywhere, so in the end that's gonna ad a lot to the price of the land/house.

I think the wood is recycled rubber tree what they normally use here and seems to disintegrate after a few years.

Copper water pipes are standard in Australia, maybe your pipes are imported to, people i have asked say they are not available here..

[Gonsalviz]

Off topic,

I drove at a comfortable pace on Tuesday morning to the airport and made it in 38 minutes. Granted it was 6:15 when I started, but 1.5 hours is not the normal travel time.

Sorry, but another whatever. I have to make sure I am on time or early for a flight. And I have been caught in traffic, especially on the way home when my flight arrives at 4:30 PM.... Lets see if you can make it at that time of day in December in 38 minutes...

He can do it, i have seen his car

Is it a Toyota Fortuner driven by a wild Chinese woman?

[Gonsalviz]

[

Property is over-priced because the sellers don't realise that they're asking too much and are determined to make a profit - even when nobody's buying....

The wealthy Thais that have built houses for Westerners aren't prepared to accept less than they originally thought they would get. Instead they put the price UP to make up for the loss of bank interest on the money....

The Westerners looking to sell their house look at those house prices and think that's the 'going price'. So nobody sells anything, except the lucky few who either have beach-front property or are prepared to accept a price someone is prepared to pay.

HUH???? where in phuket are there ANY houses that are beach front. I have been here for 20++ years and the only beachfront properties that i know of are in Kalim and many of them have been sold, knocked down and rebuilt more than once

Plenty of very nice developments in Kathu around the Golf course for 9-12 mil. U wont find anything value for money that has a water view east or west coast. Unless you go back into the hills.

Have seen houses here in Kamala for sale for over 4 years and the price keeps dropping. I am so glad i sold my house here 2+ years ago.

Rent is the best deal in this country than when the shit hits the fan ( and it will) u pack ur bags and go.

What amazes me is the amount of condos being built and the 49% sells but the rest doesn't . So come 4-5 years when they need work on the exterior Only the Farangs are there to pay for it. Bad investment.

If u must buy look at buying land here in Kamala. They will soon pave the road between Kamala and Kahtu weaterfall so easy access to Town and schools and kamala is one of the best places on the island as it has a mix of Farang and thais (unlike Karaon/Kata)

About 5 years ago I looked at a 1 rai plot on a hill with a horrendous road. The lot had no access unless you call 3 meters of clay wall access. Asking price18 Mn baht. But it had a seaview and Chanote.

[F1fanatic]

We learn about land prices the hard and slow way.

When I first moved here a member of the family I rented from (and would also drive me about - at a price), tried to convince me that a tiny plot of land in the middle of nowhere was a bargain at 7m baht.....

I thought she was a nice lady until she came up with this rubbish.

As I say, we learn our lessons the hard way......

[wordchild]

Peter, fistly it is a myth that bars shut at midnight in HH/Cha am and that there isnt any entertainment, in fact I find it far superior than Samui, Krabi and Phuket and many bars are open all night and you can stay out drinking till 8am..no fear of being mugged,stabbed or shot either...as far as property prices, they are mostly on a par and even more expensive in some locations than Phuket....I could list endless properties that have sold out in the past 2 years at stupid prices...30 million Baht condos sold out befor completion. A lot of people think the units are empty but they have been purchased by Thais from BKK for a crash pad at the seaside and only used a few times a year...Most developments aimed at foreigners are struggling to sell as there isnt a market for gated communities 30 minutes drive from the beach with no 7/11 or other facilities close by but condos and independantly owned houses really are selling like hot cakes in HH/Cha am...land also is changing hands at ludicrous prices.....you could get somewhere nice with a pool for around 4 million but it will be miles out of town if that is what you are looking for

This post is spot on and obviously written by someone who knows the Hua Hin market rather than just looks on the internet. I have just bought a holiday place in Phuket having looked on and off for a place in Hua Hin for the last 2 years ; my wife loves HH and we have probably spent 20/25 wkends as well as a couple of 10 day hols in the place and seen 30+ properties. it was very much our first choice if we were going to buy in Thailand. But i agree with this post i think your basic assumption is wrong; we ended up buying in Phuket as we grew to like it more and because we found a great property at a good price (heavily discounted by the seller). We started to focus on Phuket because we felt the quality/value proposition was so much better there than Hua Hin. In fact taking into account beach access,location ,facilities, build quality we think we would probably have to pay at least 30% more for a similar place in HH than the one we just bought in Phuket.In the end we would have been happy to pay a bit of a premium for a good HH property but really found it difficult to find much that was good quality there.The best places are tied up by high-end thai money who only want to sell for a "stupid" price but wont spend a satang on maintanance. Good luck with your search peter but i suspect as you actualy start to look at properties in HH (in real life) you will understand why the properties you think look great on the web are the price they are and i suspect you will come to the view that Phuket is not so bad after all.

[paulfromphuket]

It's not only the land that's expensive, also look at the house price if its build to western standard, if you want a Thai house it's a lot cheaper everybody know that but if you want to live like in the west then you have to pay, i just found out that my sink in master bathroom is from US and cost 41K, and in the other bathroom it cost 25K i really don't hope they brake. My wooden deck around the pool is imported from Australia, and hard to find the same type of wood again, i have no idea why they don't use Thai wood, i can see now that a lot of the stuff in the house is imported, they have used copper pipe for water everywhere, so in the end that's gonna ad a lot to the price of the land/house.

I think the wood is recycled rubber tree what they normally use here and seems to disintegrate after a few years.

Copper water pipes are standard in Australia, maybe your pipes are imported to, people i have asked say they are not available here..

Using copper pipes is the cheap Thai option, they corrode set in plaster and leak unless they are wrapped in tape which never happens. Quality properties uses PPR plastic which is green not the nasty blue for hot and cold suppy, the best decking is New Zealand pine, seasoned and treated, local cheap hardwoods rot in a matter of three years and teak is way too expensive to even consider.

Imported bathroom fittings are a waste of money as in the most are acually made in china or from chinesse parts.

It is true you get what you pay for, the price for a home should not be just thought about in terms of plot size and size of build. Things like transformers for clean power, water filtration, engineered plumbing and electrical systems, high quality carpentry and tiles all cost big style.

You cab buy a lovely Moo Ban home and jazz it up with nice art and furniture but will it be a good house? I don't think so. You can buy the land and get a Thai contractor to fudge your dream home, worth the hassle up to you, or just bite the bullet and buy a good western house.

they can be had for 10 million here I know I build them.

[HDRIDER]

My house was "born" that way, i bought it like that i would never pay 41K for a sink, but i got the house cheap, me think, and it is very well build, architect is the same Two villas use, and please don’t say they are bad, been living in one for 2 years, never a problem with anything. My house where i live now, been here for 1 year and never had a problem with the building.