What Is With The Price Of Condos And Houses In Pattaya, Will They Drop Or Raise Even More?

[morphic]

..... people come here they look around at houses that are on the market for perhaps years with a rediculous asking price which I believe is what actully drives this false overpriced property market - property that is on the market promoted by realters/developers at over inflated prices setting a stake in the ground - creating the false market

Absolutely correct.

One reason why people can afford to hold empty property for years on end whilst hoping to sell at an absurdly over-inflated price is that maintenance costs are low and ownership costs are zero.

When Thailand finally brings in proper capital gains tax on property, and annual property taxes in general, there will be a significant move away from owning huge swathes of empty property in the hope that the price will go up.

Yes and in addition to maintenance and cleaning costs etc there is also the transaction cost comprisng stamp duty, agent's fees, legal fees etc. The transaction cost can be very high.

And in addition to the above there is also a constant depreciation such that even if new property prices as a whole are unchanged the property still gets older and less desirable. On average I estimate this to be about 1% a year, i.e., buyers pay more for a newer property and pay less for an older property. The clock ticks in only one direction.

In combination it actually takes a significant rise in new property prices just to breakeven on a purchase due to these drags. And this doesn't even factor in the alternative uses the purchase capital could have been put to, such as leaving it in a bank to earn a few percent a year risk and hassle free even at today's low rates. I do not believe the majority of buyers (and subsequent holders) really understand that all of these factors need to be properly accounted for in deciding to purchase a property. If they did I doubt they would be nearly as confident that buying "bricks and mortar" was always a good investment, especially at today's bloated prices and given all of the other risks of an investment in Thailand, a market especially dangerous for foreigners due to corruption, racism and general lack of rule of law.

For these and other reasons I have been extremely cautious in buying property in Pattaya, much preferring to put my money to alternative uses.

[Ling Kae]

If a property has been advertised correctly yet hasn't sold within 2 months it is overpriced. There is nothing more to it.

Pattaya (and Thailand in general) is full of absurdly overpriced empty property. Asking prices for rentals are also absurdly high, and of course most of these places are also empty most of the year. The only reason they are empty and unsold/unrented is because the prices are absurdly high.

I totally agree with this. I did a walk around yesterday in the Pattaya Klang and soi 14 Klang area. Looked at 4 different places for long term rental. Found one place for 6,000 baht p/m + expenses. They were nearly full as they were hard pressed to find me an empty room to view. Down the road at a newer place they wanted 14,000 p/m. + expenses, that place was near empty. There were others at 8K and 12K per Month. In my opinion the best value was the older place at 6k a month and the newer one at 8k. All the others wanting 12K up can keep on wanting, plenty of correctly priced rooms/condos for the not so silly farangs to rent.

[lovetotravel]

Building construction in Thailand is as good/bad as most places in the world.

In Obamaland it is a question of whether one company's Mexican is better than another; in Blighty whether one Pollack is better than another. In the Middle East it is a question of who has the better <deleted>/Paki.

In Thailand it happens to be a question of whether one Burmese or Cambodean is better than another.

I don't agree. When I helped my father build his home, only the basic construction workers were Mexican. Not the plumber, electrician, foreman, landscaper, cabinet man, etc, etc. All were qualified with years experience and followed the building codes. A very well built house, unlike you'd be able to find here. And one big reason is you just can't get the supplies. Very difficult to find the higher quality/higher end stuff.

We had quite a bit of work done to our house here and not one worker was a foreigner, other than a few basic guys who helped out the Thai foreman on the landscaping. All were Thais. Guess it depends on what you pay?

The time the house has been for sale has absolutely nothing to do with anything.

If a property has been advertised correctly yet hasn't sold within 2 months it is overpriced. There is nothing more to it.

Pattaya (and Thailand in general) is full of absurdly overpriced empty property. Asking prices for rentals are also absurdly high, and of course most of these places are also empty most of the year. The only reason they are empty and unsold/unrented is because the prices are absurdly high.

Sure, sell a property at 100B and anything will sell. But if priced reasonably, the property can still sit for months. If in a bad location, it's very hard to sell. Especially if there is a lot of inventory in the building, and the property market is like it is today. Overbuilt and a horrible global economy.

[Darrel]

Sure, sell a property at 100B and anything will sell. But if priced reasonably, the property can still sit for months. If in a bad location, it's very hard to sell. Especially if there is a lot of inventory in the building, and the property market is like it is today.

No, if the price is reasonable it will sell quickly. It doesn't have to be absurdly cheap, just reasonable. Things only hang around when they are overpriced or not actually being advertised/marketed. Obviously a reasonable price will depend on the desirability of the location and the availability of other similar properties and the price would have to be adjusted accordingly.

Much property in Pattaya simply is not reasonably priced, and that's why it hangs around.

[smedly]

not hard to spot the property owners on this thread lol

I have been in Thailand for 8 years - I am not a stranger to the property market, I know realters I also know builders i.e. people who have built properties and sold them, unless you know what you are doing as a falang you will pay more for labour and materials - a lot more, I have seen quotes for building work vary as much as 200% and if you think there isn't double pricing on materials then you have been ripped off

AS for supply and demand setting market prices here - this is simply not the case - it doesn't work that way in pattaya, as I said in an earlier post prices for properties are falsly inflated by keeping properties on the market at rediculous prices and unsuspecting falang will come do a few comparisons and think - well that must be what it's worth

people who are argueing against my point of view will almost certaintly be property owners and it's only natural for you too want to believe you didn't pay 2-3 million baht over the odds for your house - I sympathise but it changes nothing

another poster here argued that Thais are mortgaged to the hilt - not true, they either buy cash for those that can (very few) build thier own shack or none standard building over years of adding bits or live in a tin shack, very very few have mortgages

Is saying that here is the huge difference between here and the west as I pointed out earlier - the housing market in the west is driven largely by the availability of funds i.e. the ability to get a loan/mortgage, once lenders stop lending (case currently in the west) then the arse falls out of the market - not the case in Thailand because the market is not driven by lending or availability of funds - falangs pay cash from life savings or the sale of property in the west, rich thais pay cash to launder off money they have stashed that they basically shouldn't have or have earned in underhand dealing - corruption

so how do you create a market for property were the norms from the west described above don't exist here - well property developers put property on the market as price leaders creating a false inflated market to which unsuspecting falangs contribute - simple

Edited June 14, 2012 by smedly

[PattayaParent]

Thailand is no different to any other country, the only difference is prices of property for foreigners coming to invest is much cheaper than back home., so many sell what they own there, come here and retire, paying cash for the house or condo, which happens to be 1/3 or 1/4 of what their home was worth back home.

Not true.

Property here can be much more expensive than back home.

just depends whether you're one of the minority from London where property prices are high, or one of the majority from outside of London where they're cheaper than here.

Edited June 14, 2012 by PattayaParent

[Naam]

Sure, sell a property at 100B and anything will sell. But if priced reasonably, the property can still sit for months. If in a bad location, it's very hard to sell. Especially if there is a lot of inventory in the building, and the property market is like it is today.

No, if the price is reasonable it will sell quickly. It doesn't have to be absurdly cheap, just reasonable. Things only hang around when they are overpriced or not actually being advertised/marketed. Obviously a reasonable price will depend on the desirability of the location and the availability of other similar properties and the price would have to be adjusted accordingly.

Much property in Pattaya simply is not reasonably priced, and that's why it hangs around.

that's unreasonable academic lecturing Darrel. take a trip to Spain, look at various properties and find out that even "reasonablest" priced properties don't sell. the simple reason is that presently there are no buyers.

there are finished buildings in the outskirts of Madrid which banks are willing to give away for a song because they have incurred already the mortgage losses which they can never recoup and are not willing to pay in addition rather high maintenance fees for years to come.

[smedly]

and may I add, I know many who have bought property here at the right price - they will not be part of this thread as they are mindful that they may want to sell at some point and certaintly wouldn't want to argue that property is overpriced or the market is inflated - in the end if you pay 5 million for a house and are happy with it then sobeit - just don't expect to get your money back when you sell it

[phl]

Thailand is no different to any other country, the only difference is prices of property for foreigners coming to invest is much cheaper than back home., so many sell what they own there, come here and retire, paying cash for the house or condo, which happens to be 1/3 or 1/4 of what their home was worth back home.

Not true.

Property here can be much more expensive than back home.

just depends whether you're one of the minority from London where property prices are high, or one of the majoroity from outside of London where they're cheaper than here.

or i am not from London or UK at all

Edited June 14, 2012 by phl

[PattayaParent]

not hard to spot the property owners on this thread lol

I have been in Thailand for 8 years - I am not a stranger to the property market, I know realters I also know builders i.e. people who have built properties and sold them, unless you know what you are doing as a falang you will pay more for labour and materials - a lot more, I have seen quotes for building work vary as much as 200% and if you think there isn't double pricing on materials then you have been ripped off

AS for supply and demand setting market prices here - this is simply not the case - it doesn't work that way in pattaya, as I said in an earlier post prices for properties are falsly inflated by keeping properties on the market at rediculous prices and unsuspecting falang will come do a few comparisons and think - well that must be what it's worth

people who are argueing against my point of view will almost certaintly be property owners and it's only natural for you too want to believe you didn't pay 2-3 million baht over the odds for your house - I sympathise but it changes nothing

another poster here argued that Thais are mortgaged to the hilt - not true, they either buy cash for those that can (very few) build thier own shack or none standard building over years of adding bits or live in a tin shack, very very few have mortgages

Is saying that here is the huge difference between here and the west as I pointed out earlier - the housing market in the west is driven largely by the availability of funds i.e. the ability to get a loan/mortgage, once lenders stop lending (case currently in the west) then the arse falls out of the market - not the case in Thailand because the market is not driven by lending or availability of funds - falangs pay cash from life savings or the sale of property in the west, rich thais pay cash to launder off money they have stashed that they basically shouldn't have or have earned in underhand dealing - corruption

so how do you create a market for property were the norms from the west described above don't exist here - well property developers put property on the market as price leaders creating a false inflated market to which unsuspecting falangs contribute - simple

I own property here and I agree with you.

[smedly]

Sure, sell a property at 100B and anything will sell. But if priced reasonably, the property can still sit for months. If in a bad location, it's very hard to sell. Especially if there is a lot of inventory in the building, and the property market is like it is today.

No, if the price is reasonable it will sell quickly. It doesn't have to be absurdly cheap, just reasonable. Things only hang around when they are overpriced or not actually being advertised/marketed. Obviously a reasonable price will depend on the desirability of the location and the availability of other similar properties and the price would have to be adjusted accordingly.

Much property in Pattaya simply is not reasonably priced, and that's why it hangs around.

that's unreasonable academic lecturing Darrel. take a trip to Spain, look at various properties and find out that even "reasonablest" priced properties don't sell. the simple reason is that presently there are no buyers.

there are finished buildings in the outskirts of Madrid which banks are willing to give away for a song because they have incurred already the mortgage losses which they can never recoup and are not willing to pay in addition rather high maintenance fees for years to come.

it's not that there are no buyers - there are no lenders lending money as I stated above - you have made my point and also highlighted the difference in marketing here and in the west

[phl]

The time the house has been for sale has absolutely nothing to do with anything.

If a property has been advertised correctly yet hasn't sold within 2 months it is overpriced. There is nothing more to it.

Pattaya (and Thailand in general) is full of absurdly overpriced empty property. Asking prices for rentals are also absurdly high, and of course most of these places are also empty most of the year. The only reason they are empty and unsold/unrented is because the prices are absurdly high.

That is your opinion and you are entitled to it.

The pace at which property is sold does not solely rely on the price, but also relies on the number of buyers out there, number of property's on offer in the same area and a few other factors.

Not to mention the number 1 factor, which is how the property is markerted. Putting a sign for sale on the gates ONLY, will not bring the buyers to the door.

A very large number of sellers do just that, put the sign for sale on the gate and just sit around waiting.

However this is attributed on my opinion to the lack of online options such as property website where everyone lists their property and buyers can look in one place.

[raro]

Friends of mine sold their house yesterday at a very reasonable (read: reflecting the market) price with nothing but a sign on the door within TWO (!) days.

In the same village are numerous houses for sale, but all of the overpriced and most of them sitting there empty for many months if not years.

Same in my village. My next door neighbour wants 500k more for his house than I paid for mine. His house is smaller and does not have a swimming pool. The house is for sale for about two years already...

[smedly]

The time the house has been for sale has absolutely nothing to do with anything.

If a property has been advertised correctly yet hasn't sold within 2 months it is overpriced. There is nothing more to it.

Pattaya (and Thailand in general) is full of absurdly overpriced empty property. Asking prices for rentals are also absurdly high, and of course most of these places are also empty most of the year. The only reason they are empty and unsold/unrented is because the prices are absurdly high.

That is your opinion and you are entitled to it.

The pace at which property is sold does not solely rely on the price, but also relies on the number of buyers out there, number of property's on offer in the same area and a few other factors.

Not to mention the number 1 factor, which is how the property is markerted. Putting a sign for sale on the gates ONLY, will not bring the buyers to the door.

A very large number of sellers do just that, put the sign for sale on the gate and just sit around waiting.

However this is attributed on my opinion to the lack of online options such as property website where everyone lists their property and buyers can look in one place.

sorry but supply and demand doesn't apply here as I've stated already, if that was the case then a house with a price tag of 5 million baht would currently be 3 million as it should be, you obviously don't understand the market here and refuse to have it explained to you

also there are many places to advertise property in pattaya - one not too far from where you are typing now lol

maybe you can share with everyone how much you paid - what for and where ?????

Edited June 14, 2012 by smedly

[phl]

The time the house has been for sale has absolutely nothing to do with anything.

If a property has been advertised correctly yet hasn't sold within 2 months it is overpriced. There is nothing more to it.

Pattaya (and Thailand in general) is full of absurdly overpriced empty property. Asking prices for rentals are also absurdly high, and of course most of these places are also empty most of the year. The only reason they are empty and unsold/unrented is because the prices are absurdly high.

That is your opinion and you are entitled to it.

The pace at which property is sold does not solely rely on the price, but also relies on the number of buyers out there, number of property's on offer in the same area and a few other factors.

Not to mention the number 1 factor, which is how the property is markerted. Putting a sign for sale on the gates ONLY, will not bring the buyers to the door.

A very large number of sellers do just that, put the sign for sale on the gate and just sit around waiting.

However this is attributed on my opinion to the lack of online options such as property website where everyone lists their property and buyers can look in one place.

sorry but supply and demand doesn't apply here as I've stated already, if that was the case then a house with a price tag of 5 million baht would currently be 3 million as it should be, you obviously don't understand the market here and refuse to have it explained to you

also there are many places to advertise property in pattaya - one not too far from where you are typing now lol

maybe you can share with everyone how much you paid - what for and where ?????

13 million for 5 story double unit in pattaya tai and 6 million for 4 story single unit in pattaya klang, so you right i do not have a clue

best you save your energy on other people

[Darrel]

that's unreasonable academic lecturing Darrel. take a trip to Spain, look at various properties and find out that even "reasonablest" priced properties don't sell. the simple reason is that presently there are no buyers.

there are finished buildings in the outskirts of Madrid which banks are willing to give away for a song because they have incurred already the mortgage losses which they can never recoup and are not willing to pay in addition rather high maintenance fees for years to come.

In that case the "reasonable price" is indeed just a song and the vendors would have to accept that or not sell. No demand/crappy location = low prices. Either way, if the price is right (and they have been correctly marketed, which isnt the case for many Spanish properties) then they will sell.

I could give several examples of Pattaya condos that have sold in a matter of days or weeks, and other neighbouring units of similar quality that have been on sale at a price some 20-50% higher for years. And to my certain knowledge some of those units that sold promptly at reasonable prices last year went straight back on the market by instruction of the new owner at prices some 30% higher than the new owner paid days before. And they are still unsold at those higher prices. To me this is conclusive proof that asking prices are too high.

[smedly]

13 million for 5 story double unit in pattaya tai and 6 million for 4 story single unit in pattaya klang, so you right i do not have a clue

best you save your energy on other people

why don't you try selling them lol

look i'm not going to argue with you mate, if you are happy with your purchase then fine and good, if you don't accept points being made here fine and good, everybody to their own, if you made a good investment fine and good, it's just useful to understand and see other perspectives and perhaps make the OP aware of some things to think about.

[lovetotravel]

http://www.bot.or.th...p062009_eng.pdf

The importance of real estate in Thai households’ asset portfolios derives from the fact that

the first risky asset in which young households invest is usually real estate. As households

age and become richer, they invest in other risky assets, such as stocks. In terms of the

composition of household debt, Graph 3 shows that real estate also accounted for a large

part of household debt (30%) in 2006, the same as consumption (30%), followed by business

and agricultural debts (14% and 13%, respectively).

The large share of real estate in the asset and debt portfolios of Thai households indicates

that households are likely to be quite vulnerable to volatility in real estate prices. In addition,

the ratio of debt to assets is higher for low-income than for high-income households,

suggesting that the former are more vulnerable to shocks. Higher debt is not necessarily a

bad thing because it provides households with ways to smooth consumption. The risk is that

high debt levels could force lower-income households to reduce consumption and defer

payments on loans in the event of a shock.

http://www.globalpro...d/Price-History

the preliminary figures for personal housing credit in Q3 2010 stood at THB 1.058 trillion (USD35 billion), up by 14.7% y-o-y, according to the BOT. The strong growth may be due to the special mortgage campaign launched by the Siam Commercial Bank, the biggest mortgage lender in Thailand.

The campaign allows borrowers to pay monthly installments as low as THB 1,000 (USD33) in the first year for each THB 1 million (USD33,000) taken out, tied with a special interest rate of 1% during the period. The campaign was offered until the end of December 2010.

Outstanding mortgages were 11% percent of GDP in 2009, only a percentage point up from 2008.

[craigt3365]

A few off topic posts have been removed from view.

[hotandhumid]

that's unreasonable academic lecturing Darrel. take a trip to Spain, look at various properties and find out that even "reasonablest" priced properties don't sell. the simple reason is that presently there are no buyers.

there are finished buildings in the outskirts of Madrid which banks are willing to give away for a song because they have incurred already the mortgage losses which they can never recoup and are not willing to pay in addition rather high maintenance fees for years to come.

In that case the "reasonable price" is indeed just a song and the vendors would have to accept that or not sell. No demand/crappy location = low prices. Either way, if the price is right (and they have been correctly marketed, which isnt the case for many Spanish properties) then they will sell.

I could give several examples of Pattaya condos that have sold in a matter of days or weeks, and other neighbouring units of similar quality that have been on sale at a price some 20-50% higher for years. And to my certain knowledge some of those units that sold promptly at reasonable prices last year went straight back on the market by instruction of the new owner at prices some 30% higher than the new owner paid days before. And they are still unsold at those higher prices. To me this is conclusive proof that asking prices are too high.

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

[vediovis]

There are 2 property markets in Pattaya. One for foreigners, and one for Thais. The first one slowly crashes for years. The second is going to boom.

The Pattaya foreigner market is a totally over priced market. I expect to see some problems once the Euro crisis will really start to hurt rich tourists and retired people. The Euro will decrease and it will have the same effect as when the Pound crashed a few years ago. It's going to hurt a lot those who earn Euros. There are strong chances as well to see cuts in the European pensions in a few months/years. So clearly you will have less European buyers or renters. This situation will spread to England and to the US as well.... All this is going to affect the market. We will maybe see more Russians and some of the new Indian/Chinese middle class, but it's not going to be enough to compensate.

Next, you have the political uncertainty. We are heading to a transition phase. A lot of people worry a lot about the general coming stability in Thailand and how foreigners will be considered here in the future.

Because these points, the general Farang market in Pattaya is, imho, condemned to suffer a bit during the coming years. It already started. Today, it's really difficult to find a renter for a 1 bedroom condo in Naklua at 40,000 Baht when it was quite common and easy 5 or 6 years ago. And it's not going to be better. I know some people who try to find a tenant for 2 or 3 years now, even if they already accepted to discount their rate for 15 or 20%.

Some will answer we still see constructing projects everywhere so perspectives should be good. It is not totally right. The speculative phenomenon we can see with all these new projects is only speculation between a few rich investors. They try to bet on future potentials. But I call it playing, gaming and betting, and I am not going to join them.

The only good perspective I can see for the Pattaya property market is about the local Thai market: Bangkok is doomed. People will try to escape somewhere else because of the floods, the political problems, and the general water problem they have. The city has less than 20 years before it starts to really sink into the water. So, inhabitants will have to go to Hua Hin and Pattaya. If they really make this high-speed train between Pattaya and Bangkok, you will see the property market booming in Pattaya. It will affect lands, houses, and condos for Thais. There's a new Thai middle class in Bangkok and they will invest by the sea as soon as hey will have the power to do it.

So the future here is local.

Those who invest in high level condos in the hope to resell later to rich foreigners are wrong. This is the future crashing market.

Those who invest in properties for the Thai middle class, lands, houses, or even properties to rent to local workers, are right. This is the future booming market.

My 2 cents

Edited June 16, 2012 by vediovis

[craigt3365]

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

He's spent months researching the market and so far has not found the value he's looking for. He's quite knowledgeable about the local market. I've asked him for advice a few times.

[Naam]

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

hmmm... could it be...

http://www.storyit.com/Classics/Stories/sourgrapes.htm

[smedly]

that's unreasonable academic lecturing Darrel. take a trip to Spain, look at various properties and find out that even "reasonablest" priced properties don't sell. the simple reason is that presently there are no buyers.

there are finished buildings in the outskirts of Madrid which banks are willing to give away for a song because they have incurred already the mortgage losses which they can never recoup and are not willing to pay in addition rather high maintenance fees for years to come.

In that case the "reasonable price" is indeed just a song and the vendors would have to accept that or not sell. No demand/crappy location = low prices. Either way, if the price is right (and they have been correctly marketed, which isnt the case for many Spanish properties) then they will sell.

I could give several examples of Pattaya condos that have sold in a matter of days or weeks, and other neighbouring units of similar quality that have been on sale at a price some 20-50% higher for years. And to my certain knowledge some of those units that sold promptly at reasonable prices last year went straight back on the market by instruction of the new owner at prices some 30% higher than the new owner paid days before. And they are still unsold at those higher prices. To me this is conclusive proof that asking prices are too high.

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

just because Darrel doesn't own a property here could actually mean he knows more about the market than you do - every property owner that I know that decided to leave Thailand and sell did not get anywhere near what they paid and sold at a loss and I'm talking up to a third loss, some might be lucky and get a falang to buy at an inflated price like they did and possibly break even but that requires time - most falangs packing up want a quick sale

[phl]

that's unreasonable academic lecturing Darrel. take a trip to Spain, look at various properties and find out that even "reasonablest" priced properties don't sell. the simple reason is that presently there are no buyers.

there are finished buildings in the outskirts of Madrid which banks are willing to give away for a song because they have incurred already the mortgage losses which they can never recoup and are not willing to pay in addition rather high maintenance fees for years to come.

In that case the "reasonable price" is indeed just a song and the vendors would have to accept that or not sell. No demand/crappy location = low prices. Either way, if the price is right (and they have been correctly marketed, which isnt the case for many Spanish properties) then they will sell.

I could give several examples of Pattaya condos that have sold in a matter of days or weeks, and other neighbouring units of similar quality that have been on sale at a price some 20-50% higher for years. And to my certain knowledge some of those units that sold promptly at reasonable prices last year went straight back on the market by instruction of the new owner at prices some 30% higher than the new owner paid days before. And they are still unsold at those higher prices. To me this is conclusive proof that asking prices are too high.

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

just because Darrel doesn't own a property here could actually mean he knows more about the market than you do - every property owner that I know that decided to leave Thailand and sell did not get anywhere near what they paid and sold at a loss and I'm talking up to a third loss, some might be lucky and get a falang to buy at an inflated price like they did and possibly break even but that requires time - most falangs packing up want a quick sale

and how many do you know? and how many do you know well enough for them to tell you the truth?

Now take that number and put it in perspective of how many expats are there in Thailand, and see what % you know,which would be something like 0.0000001%

Property's do not go up in value over night, it takes years for prices to rise.

Also as already been said, houses are a much much much harder item to sell, because it is not popular with foreigners, harder to own, harder to rent and naturally harder to sell.

[smedly]

and how many do you know? and how many do you know well enough for them to tell you the truth?

Now take that number and put it in perspective of how many expats are there in Thailand, and see what % you know,which would be something like 0.0000001%

Property's do not go up in value over night, it takes years for prices to rise.

Also as already been said, houses are a much much much harder item to sell, because it is not popular with foreigners, harder to own, harder to rent and naturally harder to sell.

well first of all I hardly think that someone selling anything that is generally expected to make a profit would freely make a dick of themselves and admit they lost money - I'd expect the opposite but in these cases they admitted it so I don't doubt their valididy.

as for the rest of your post - you make my case

Nothing much else to say on the matter - is there ?

Edited June 16, 2012 by Rimmer

[phl]

and how many do you know? and how many do you know well enough for them to tell you the truth?

Now take that number and put it in perspective of how many expats are there in Thailand, and see what % you know,which would be something like 0.0000001%

Property's do not go up in value over night, it takes years for prices to rise.

Also as already been said, houses are a much much much harder item to sell, because it is not popular with foreigners, harder to own, harder to rent and naturally harder to sell.

well first of all I hardly think that someone selling anything that is generally expected to make a profit would freely make a dick of themselves and admit they lost money - I'd expect the opposite but in these cases they admitted it so I don't doubt their valididy.

as for the rest of your post - you make my case

Nothing much else to say on the matter - is there ?

So in other words i was correct and you know 0.000001% of the total expats if that.

Why would someone tell you how much money they made? why would someone discuss their financials with you?

If someone asks me how much i made, the answer would be either "none of your business" or "enough"

But if someone asking is known to me for "not doing" too well, the answer would be i lost money.

But thats me, i am sure many other people happy to share their personal financial situation with anyone

Nothing much else to say on what matter? were you making a point there, that i missed?

Edited June 16, 2012 by Rimmer

[23962323]

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

hmmm... could it be...

http://www.storyit.c.../sourgrapes.htm

Of course Nam,he is entitled to his opion,of course he is> I see you your side kick never involves himself (or should I say expose ) himself about the legality or benefits of house ownership in Thailand on the forum page dealing with such matters,would it be there is one individual that awaits?,that would be my theory anyway.

Will property prices go up or down? easy to say ,and it ain't up. Anyone just off the banana boat would be well advised to take half an hour looking at the prospects....then head straight back to the banana boat.

The intelligent farang has avoided catastrophe, the gullible farang had taken it down the throat

[Rimmer]

Bickering posts removed.

I am getting tired of sorting through this topic trying to keep the peace, if you can not discuss without this on going acrimonious exchange then I will simply delete any more argumentative posts out of hand

[Darrel]

Darrel - You have said many times that you do not own property here, but you are always frequenting the property threads. Weird.

Not really. I dont own a car either but I am interested in getting one, and so I also frequent the motoring section (at least the threads concerning models I'm interested in).

I have seen a handful of condos here that I seriously considered buying, but they all had some potential drawback that made me decide against them. Some of those drawbacks have come true in the short time since I was viewing.

I have also seen many places that I liked but which were absurdly overpriced for sale, including the place I am living in now. I see no point paying 25 times my yearly rent payment to buy a condo, plus transfer fees. When I see a nice place that represents 10 times my yearly rent then I might go for it. Which of course is the subject of the thread and explains my interest in it.