Condo Pricing Set To Surge

[zorro1]

There will be a rush on flood proof Condominiums in Bangkok as buyers seek protection from any further disasters.

"Did it flood here" will be something real estate agents will need to get used to hearing in the future.

[skippybangkok]

Very observant....... thats why they call you Zorro

[zorro1]

Supply and Demand Skippy

[wordchild]

not so sure about that. these floods have hit the Thai economy very very hard. From what i see, much harder than any of the periods of unrest over the last few years. I think there is a high chance now ,that Thailand will experience negative growth for 2 maybe even 3 quarters and, this time, the bounce back will be subdued. I would think that the property market is in for a quiet couple of years, though i do agree that property in areas that were badly flooded will fare even worse.

[skippybangkok]

Supply and Demand Skippy

Shock and Awe, Shock and Awe ! :jap:

[PattayaPhom]

The usual doom mongers on here will think differently and come up with other ideas

[Hooters]

In the lift where I live today there was an agent talking to her client and her main concern was about future flooding

Edited November 18, 2011 by Hooters

[Darrel]

In the lift where I live today there was an agent talking to her client ......

I think it's rather sad that some forum members are reduced to living in lifts.

Should we have a whip-round?

[elliss]

Supply and Demand Skippy

nope ,

industry and commerce will graduall leave BKK ,

and head up north , away from the flood risk zones .

khorat and kk , awaits .

:jap:

[london]

I feel that wordchild is correct.

These floods will have an impact on property in Bangkok, particularly in areas that have been badly flooded.

However, I would also anticipate many more wealthier Thais re-assessing their own housing situation and needs and perhaps starting to look more seriously at large condos in the prestige parts of the city that have remained relatively dry.

After all, the move to condo living is now growing worldwide. The idea of having a house and land is becoming more outdated. Certainly, in major international cities like New York, London, Hong Kong, Singapore, to name a few, condo living is very much accepted as normal and is not only restricted to lower income levels, where it was once perceived to be.

Re elliss post about "industry and commerce will graduall leave BKK and head up north , away from the flood risk zones .khorat and kk , await"

I see that this may happen with smaller industries, but not large international plants that have been established outside of Bangkok and down towards Rayong. Large industries have spent millions of dollars setting up their manufacturing and infrastructure and by design they need to have ready and easy access to ports. Smaller companies can move much more easily.

Also, as I have mentioned in another post, the government will not sit idly by and wait for this disaster to happen again. Even if they aren't self motivated to do something themselves, the pressure applied from these large multi-nationals will ensure that corrective and preventative measures are taken to address the potential for such a future occurrence.

[arthurwait]

nope ,

industry and commerce will graduall leave BKK ,

and head up north , away from the flood risk zones .

khorat and kk , awaits .

:jap:

Yeah or maybe they'll even think of using the Eastern seaboard near the ports one day. :jap:

[Pinot]

Also, as I have mentioned in another post, the government will not sit idly by and wait for this disaster to happen again. Even if they aren't self motivated to do something themselves, the pressure applied from these large multi-nationals will ensure that corrective and preventative measures are taken to address the potential for such a future occurrence.

You've got to be kidding. Nothing is going to change.

[HerbalEd]

You've got to be kidding. Nothing is going to change.

You're the one who must be kidding. The large international companies like Honda, Nikon, Japanese firms, etc. will definitely make changes and pressure the Thai government to help. I'm betting that building flood walls around factories and industrial parks will soon become common practice. In fact, many of these companies are already negotiating with the government to plan and initiate such.

Edited November 20, 2011 by HerbalEd

[Chopperboy]

Also, as I have mentioned in another post, the government will not sit idly by and wait for this disaster to happen again. Even if they aren't self motivated to do something themselves, the pressure applied from these large multi-nationals will ensure that corrective and preventative measures are taken to address the potential for such a future occurrence.

You've got to be kidding. Nothing is going to change.

The Thais will have forgotten about it by next year - but not the foreign investors!

[pkrv]

Just having returned from Bangkok after a fortnight holiday yesterday I noted the following:

1) No flooding whatsoever

2) Caio and part of the Veranda (at the Oriental Hotel) was closed for precautionary measures

3) Sand bags were ubiquitous over all Bangkok.

4) The sandbags were a bit of an eyesore.

5) Bangkok seriously steeled its self for potential problems. In the UK a single leaf falling on a rail track or indeed a snow flake (it's always the wrong type of snow) will bring the nation to a grinding halt.

6) Singha beer instantly turned over its production facilities to bottled water production – though one factory had to be shut down due to flooding.

7) I could not buy Singha beer at most retail outlets – dammmmmmm……

8) The shelves in many retail outlets were denuded of some products simply because of Thailand's logistical infrastructure and the responsibility of fear of water contamination took priority. In the UK 'Mad Cows Disease' meant British beef did not sell well, my god we got over that one before the problem had gone away – it's sort of related to money not the welfare of the people,

If you do not think Thailand is growing and maturing fast and also learns from the past – You are a moron!

Edited November 21, 2011 by pkrv

[pkrv]

Just having returned from Central Bangkok after a fortnight holiday yesterday I noted the following:

1) No flooding whatsoever

2) Caio and part of the Veranda (restaurants at the Oriental Hotel on the chao phraya river ) were closed for precautionary measures

3) Sand bags were ubiquitous over all Bangkok.

4) The sandbags were a bit of an eyesore.

5) Bangkok seriously steeled its self for potential problems. In the UK a single leaf falling on a rail track or indeed a snow flake (it's always the wrong type of snow) will bring the nation to a grinding halt.

6) Singha beer instantly turned over its production facilities to bottled water production – though one factory had to be shut down due to flooding.

7) I could not buy Singha beer at most retail outlets – dammmmmmm……

8) The shelves in many retail outlets were denuded of some products simply because of Thailand's logistical infrastructure and the responsibility of fear of water contamination took priority. In the UK 'Mad Cows Disease' meant British beef did not sell well, my god we got over that one before the problem had gone away – it's sort of related to money not the welfare of the people,

If you do not think Thailand is growing and maturing fast and also learns from the past – You are a moron!

Sorry interrupted by a phone call.

9) The chao phraya river was running fast, the ferry boats turned off their engines to head downstream, and were at full power when going upstream.

Last post slightly edited - PKRV

Edited November 21, 2011 by pkrv

[samtam]

I've been thinking this for a couple of weeks now - the "unflooded areas of Bangkok" phenomenon vis-a-vis location of property. It surely must make a difference. It's not something that will be forgotten easily.

I live in Sathorn. It's not flooded. I'm not selling, but I'm very grateful, and I have set in motion a donation programme for those so much less fortunate, (including but especially those who work on our staff). I'm hoping to gather furniture - anything really, to help them get re-established, once the waters have receded. Others who are as fortunate should think the same way. Please.

[Pib]

Ever wonder why homes in hurricane/typhoon, earthquake, and flooding prone areas worldwide generally continue to sell as if that last hurricane/typhoon, earthquake, flood, etc., never happened. Well, it's because most people buy pretty much based on sunny day conditions, the risks of a future disaster, what they can afford, and on Location, Location, Location.

The flood which is supposedly the worst in 70 years, especially for the Bangkok area, will be considered as a once in a life time event....hey, it probably won't happen again for another 70 years...I'll be dead by then. It may change some buying habits for some for a few years, but then it will be forgotten especially since the area they want to buy in is so pretty during sunny days....plus, if it does flood again they will be prepared to minimize the damage....that will be the thinking. Humans block out bad memories and will continue to take risks.

Edited November 21, 2011 by Pib

[LennyW]

Ever wonder why homes in hurricane/typhoon, earthquake, and flooding prone areas worldwide generally continue to sell as if that last hurricane/typhoon, earthquake, flood, etc., never happened. Well, it's because most people buy pretty much based on sunny day conditions, the risks of a future disaster, what they can afford, and on Location, Location, Location.

The flood which is supposedly the worst in 70 years, especially for the Bangkok area, will be considered as a once in a life time event....hey, it probably won't happen again for another 70 years...I'll be dead by then. It may change some buying habits for some for a few years, but then it will be forgotten especially since the area they want to buy in is so pretty during sunny days....plus, if it does flood again they will be prepared to minimize the damage....that will be the thinking. Humans block out bad memories and will continue to take risks.

I have heard this a lot lately - or similar, 50 years etc....the winter in Scotland 2009/2010 was reputed to be the worst in living memory, since records began........ yet the winter in Scotland 2010/2011 was worse!!!, worst since records began!!

Recently the East coast of America has had the worst October snowfall............since records began!!!, but i am sure i heard the same thing about a year ago??

Another continent's weather may or may not be entirely relevant, but to think the floods in BKK are going to be a once in a lifetime event....i seriously doubt it!! , if anything....next year could well be worse!!

[Pib]

I wouldn't be bold enough to say next year is going to be worst than this year. I've lived in Bangkok for over 3 years now and over that time frame this is the first time Bangkok have been flooded in many area and a crisis such as this has occurred. But records are made to broke and this year's record flooding could be exceeded next year or not for another 50 to 70 years. Hopefully the govt will institute some real water/flooding management changes; but right now it pretty much each province protecting its own interest and little investment by the govt on a nationwide basis to control flooding. TIT.

Edited November 23, 2011 by Pib

[culicine]

Unfortunately, everywhere in Bangkok has the potential to flood - inner Bangkok was "saved" because people in the north were forced to live in 1-2 metres of floodwater for over a month now. They are still making that sacrifice simply because the BMA reduces flow through BKK. So really nowhere is "safe" - it's all down to management. My house got flooded (pak kret west of the river)and is still flooded, but where I live now had better management - better floodwalls (pak kret east of the river). So there's no guarantee these areas will be safe from the next great flood.

[garrfeild]

I think if International companies have to spend millions on moving up north. Then they may well move to another country, especially if the Thai Government don't do something to make sure they can control the floods, and avoid the same situation. But they are only self interested, so I don't expect them to build waterways that could carry flood water away from the city.

Will condo prices surge? I find that hard to beleive, OK your condo is safe from flood water but how you going to get out the building if the water outside is even 1 meter high? Not to mention the number of condos that are already empty in BKK because there are no buyers! I think the property game in Thailand is a phantom. They are not worth the asking price, sellers adding a couple million to the price when they want to sell, can take years to sell, and you can always find a new build cheaper than the second hand market, especially in BKK and the tourist areas. I wouldn't spend more on a property than I can afford to loose, because I doubt I could sell it for what I paid for it.

[trogers]

...and you can always find a new build cheaper than the second hand market' date=' especially in BKK and the tourist areas.

[/quote']

Pray tell me where a new building on the same street is cheaper than a 2nd hand...

[Hooters]

I think if International companies have to spend millions on moving up north. Then they may well move to another country, especially if the Thai Government don't do something to make sure they can control the floods, and avoid the same situation. But they are only self interested, so I don't expect them to build waterways that could carry flood water away from the city.

Will condo prices surge? I find that hard to beleive, OK your condo is safe from flood water but how you going to get out the building if the water outside is even 1 meter high?

central Bkk didn't flood so what 1 metre of water do you refer to

On the contrary new condos tend to sell out very quickly when a reputable developer is involved.

selling a property is difficult anywhere in the world if you need the money now, took me 2 years to sell my house in Oz put the profit was worth it. the rewards can be awesome in BKK just ask some of the flippers that have made a fortunate reselling off the plan in desirable locations.

[dave111223]

Finding a Condo should easy then, just ask:

- Did it flood here?

- Were the red shirts causing trouble here?

- Were the yellow shirts causing trouble here?

Should leave about 2 building to choose from.

However next years "XYZ Crisis 2012" will probably rule out those buildings too.

[garrfeild]

I think if International companies have to spend millions on moving up north. Then they may well move to another country, especially if the Thai Government don't do something to make sure they can control the floods, and avoid the same situation. But they are only self interested, so I don't expect them to build waterways that could carry flood water away from the city.

Will condo prices surge? I find that hard to beleive, OK your condo is safe from flood water but how you going to get out the building if the water outside is even 1 meter high?

central Bkk didn't flood so what 1 metre of water do you refer to

On the contrary new condos tend to sell out very quickly when a reputable developer is involved.

selling a property is difficult anywhere in the world if you need the money now, took me 2 years to sell my house in Oz put the profit was worth it. the rewards can be awesome in BKK just ask some of the flippers that have made a fortunate reselling off the plan in desirable locations.

I am referring to future possibilities. It is totally feasible that that could happen in the future. Maybe flippers make money. but that's as far as it goes. there are still a large number of condos unoccupied, I guess everyone is waiting to sell???????

[khaan]

I think if International companies have to spend millions on moving up north. Then they may well move to another country, especially if the Thai Government don't do something to make sure they can control the floods, and avoid the same situation. But they are only self interested, so I don't expect them to build waterways that could carry flood water away from the city.

Will condo prices surge? I find that hard to beleive, OK your condo is safe from flood water but how you going to get out the building if the water outside is even 1 meter high?

central Bkk didn't flood so what 1 metre of water do you refer to

On the contrary new condos tend to sell out very quickly when a reputable developer is involved.

selling a property is difficult anywhere in the world if you need the money now, took me 2 years to sell my house in Oz put the profit was worth it. the rewards can be awesome in BKK just ask some of the flippers that have made a fortunate reselling off the plan in desirable locations.

"Gritsada Suptuaychone, secretary of the Electrical, Electronics and Allied Industries club under the Federation of Thai Industries, said it was possible for some factories, particularly those that are labour-intensive and can relocate their operations easily, to move out of Thailand. The two main factors that would lead them to relocate are high wages and uncertainty over government measures to prevent future floods."

http://www.skyscrapercity.com/showthread.php?p=86123754

[Hooters]

I think if International companies have to spend millions on moving up north. Then they may well move to another country, especially if the Thai Government don't do something to make sure they can control the floods, and avoid the same situation. But they are only self interested, so I don't expect them to build waterways that could carry flood water away from the city.

Will condo prices surge? I find that hard to beleive, OK your condo is safe from flood water but how you going to get out the building if the water outside is even 1 meter high?

central Bkk didn't flood so what 1 metre of water do you refer to

On the contrary new condos tend to sell out very quickly when a reputable developer is involved.

selling a property is difficult anywhere in the world if you need the money now, took me 2 years to sell my house in Oz put the profit was worth it. the rewards can be awesome in BKK just ask some of the flippers that have made a fortunate reselling off the plan in desirable locations.

I am referring to future possibilities. It is totally feasible that that could happen in the future.

worse floods in 50 years and central bkk didnt flood and your betting on bigger event taking place? errr.............. what odds would you like?

[garrfeild]

I think if International companies have to spend millions on moving up north. Then they may well move to another country, especially if the Thai Government don't do something to make sure they can control the floods, and avoid the same situation. But they are only self interested, so I don't expect them to build waterways that could carry flood water away from the city.

Will condo prices surge? I find that hard to beleive, OK your condo is safe from flood water but how you going to get out the building if the water outside is even 1 meter high?

central Bkk didn't flood so what 1 metre of water do you refer to

On the contrary new condos tend to sell out very quickly when a reputable developer is involved.

selling a property is difficult anywhere in the world if you need the money now, took me 2 years to sell my house in Oz put the profit was worth it. the rewards can be awesome in BKK just ask some of the flippers that have made a fortunate reselling off the plan in desirable locations.

I am referring to future possibilities. It is totally feasible that that could happen in the future.

worse floods in 50 years and central bkk didnt flood and your betting on bigger event taking place? errr.............. what odds would you like?

your 10 to my 1 that within the next five years, that will happen especially if they don't build a system to carry the water away. you up for that? Oh yeah, do you know any reputable builders, is there such an animal?

Edited November 29, 2011 by garrfeild

[teatree]

I don't know why the supposition is that only condos in unaffected areas will rise in value.

Surely any property that escapes flooding will be more desirable, wether they are condos, houses or plots of land.