Condo Asking Prices In Chiang Mai

[NeverSure]

Those who have purchased foolishly had better get the hell out. If they can. Which I doubt.

"Which I doubt"?? So, the property market in cm has ceased to operate? Come now chicken little, is the sky really falling?

Time will tell. My money will not go into housing units at this time. If I had money in it, especially at current prices I would try to get it back out by selling and I think that would be very hard. If that is true, then buyers are paying too much. If that is not true, then party hardy.

[cheeryble]

Those who have purchased foolishly had better get the hell out. If they can. Which I doubt.

"Which I doubt"?? So, the property market in cm has ceased to operate? Come now chicken little, is the sky really falling?

I ask only if there are a lot of vacancies for sales and rentals, and if it might take a long time to fill the unit - too long at the asking price. I ask only if the rapid building is therefore creating an over supply. I ask if the units are therefore selling and renting briskly at the current needed volume and at the current asking prices.

The answer to the sole question of supply vs demand with more units going up rapidly steers my thinking.

So you're asking if, rather than stating that, there's oversupply such that people should sell out of ownership?

I see I was confused.

[cheeryble]

Please explain what you mean by "purchase foolishly".....

Riverside?

The funny thing is Riverside has passed it's survey and has a very good bank balance.

It is in an unrepeatable position close to many arteries and on the river with an unblocked, unblockable, marvellous view. It's SW facing pool stays warm all year. It is efficient downstairs and clean upstairs, and I happen to know many people love it there and will never move. It is also very good value compared to the cost of newbuild condos and may well rise in price to reflect the newbuilds.

My guess is any political problems will pass as everyone knows what's in their best interest, and anyone competent enough to gain the reins of power probably will be competent enough to keep up the building as is needed.

On the other hand....four fingers and a thumb.

[chiangmaikelly]

When was the best time to enter the Thai property market? 1946 for sure if one is thinking recently. Although lately it would have been hard for the Westerner to beat the 30% increase of currency value that was around just a few years ago.

How many years can one look ahead in Thailand? 5 for sure, 10 maybe. Land and condo prices will keep pace with inflation as will gold.

Are any of the same conditions happening in Thailand that happened in the West to cause the property bubble? No. Banking here is not that complicated. A few defaults on motorcycle loans is not the same as repackaging billions of dollars of Western housing obligations.

The Thai economy is hot now. It'll take 10 years for the unions and politicians to muck it up and push the investment dollars to another country.

[JomtienEats]

I wonder if anyone could offer an opinion on the valuation of a condo in CM based on its rental value - if a property rents at 10,000, 20,000 or 30,000 per month, what would you expect a fair market value to be at the current time?