Property Market ....picking Up ?

[churchill]

Seems Chinese tourists and demand is picking up along with the ever present Russians

as French and other Euros look to diversify ....

but this seems way over the top !

'A grand villa has been put on sale on Koh Samui for a cool THB280 million (US$9.57 million)'

http://www.property-report.com/luxury-villa-put-on-sale-on-koh-samui-29321

[Rooo]

Very nice Villa indeed, I had the opportunity to visit & was amazed.

[churchill]

I'm sure it's nice but how much to buy the land and build ..... just seems ott

[mufcsamui]

WOW I thought a forgiener could only own a condo

[John 1]

WOW I thought a forgiener could only own a condo

A foreigner can own a villa but needs to rent the land for a set period or do a shady set up company deal.. Anyway who in there right mind would spend US$10mil in Samui if it were the Chinese most likely go to Australia and they will be welcomed with open arm's if they bring in that sort of money.

[Leckyman]

That place has been for sale for at least 5 years, it used to be 350 million. 280 is a bargain, & yes, its lovely !

[livinthailandos]

Im pretty much lost on why someone should spend that kind of money for a place in samui let alone thailand considering

1. Infrastructure

2. Corruption

3. Lack of educational development in thailand

4. You could lose that villa really quick if thai's really wanted to kick you out.

5. Serious lack of rule of law

6. You dont even get to really own the villa due to restrictions on foreign ownership

Sent from my GT-using Thaivisa Connect Thailand mobile app

[Rooo]

Im pretty much lost on why someone should spend that kind of money for a place in samui let alone thailand considering 1. Infrastructure 2. Corruption 3. Lack of educational development in thailand 4. You could lose that villa really quick if thai's really wanted to kick you out. 5. Serious lack of rule of law 6. You dont even get to really own the villa due to restrictions on foreign ownership Sent from my GT-using Thaivisa Connect Thailand mobile app

They can afford it .Plus think not of a villa, but a 5 star resort. How they own it , none of our business, I am sure the legal egals can provide you with answers.

[sitta]

WOW I thought a forgiener could only own a condo

"Banks are reluctant to provide loans for condo projects" as per thaivisa news, means there is an over supply of condos?

So the prices will come down?

[Tropicalevo]

WOW I thought a forgiener could only own a condo

"Banks are reluctant to provide loans for condo projects" as per thaivisa news, means there is an over supply of condos?

So the prices will come down?

Only on second-hand ones.

It's a bit complicated, but a buying condo in Thailand is more like buying a car. It looses value as soon as you move into it. (Or in the car's case - as soon as you drive it off the showroom floor.) There some exceceptions to this of course. eg the 'must have' factor like Ferraris or luxury penthouses in very desirable locations.

The main factors in the price in a property sale are location and land. Not much land when you buy a condo. When you buy a house/villa etc you always have the land as collateral. The banks will lend against that.

Then there are the monthly management fees. If they are high enough to maintain the condo in good (resellable) condition, then they are usually too expensive for the condo owners to keep on paying month in and month out. So the developers set the fees lower, to look attractive and proportional. This usually means that the condos will not be maintained to a high enough standard - so they look second hand, so the price comes down.

[nod]

Actually only officially been on the market for a little bit over a year.
Owner was offered 300 m for it in 2007 and an almost similar amount in 2008 when it was not for sale.
On an 4 rai almost flat plot of land at that elevation and in that sort of location in Phuket the price of the property would not be regarded as surprising.
In Samui it is regarded as being expensive.
I guess it all depends on where the eventual buyer wants to live.
As regards to Churchill's question re. land and build costs.
The land was relatively cheap when purchased in 2003 but due to topography and location, would now be very expensive.
It was shockingly expensive to build in 2005-2007 due to the enormous detail and quality of the build and would be at least double now and probably more.
If you had the time, energy, could find the right land and were prepared to take the risk of it ever being completed, you would almost certainly be able to achieve a similar result for under the asking price.
Nothing new there then.
However this is unlikely to be the case for the eventual purchaser who will probably see the price as being about the same as a really nice high end apartment in Singapore, Shanghai or Hong Kong.
As the current owner, (me) is quite happy living there at the moment and is in fact rather ambivalent about selling it anyway, it is all rather irrelevant.
At the end of the day, the same rule as with all purchases will apply. " Willing buyer and willing seller"
Please feel free to pop up for a private "view". Those with cheque books especially welcome!

Edited May 1, 2013 by nod

[carmine]

Well if the property market is picking up then perhaps someone knows a real estate agent that is moving properties. I want to leave and for obvious reasons would like to sell my villa. Any sensible pm's relevant to this would be greatly appreciated.

[John 1]

Actually only officially been on the market for a little bit over a year.

Owner was offered 300 m for it in 2007 and an almost similar amount in 2008 when it was not for sale.

On an 4 rai almost flat plot of land at that elevation and in that sort of location in Phuket the price of the property would not be regarded as surprising.

In Samui it is regarded as being expensive.

I guess it all depends on where the eventual buyer wants to live.

As regards to Churchill's question re. land and build costs.

The land was relatively cheap when purchased in 2003 but due to topography and location, would now be very expensive.

It was shockingly expensive to build in 2005-2007 due to the enormous detail and quality of the build and would be at least double now and probably more.

If you had the time, energy, could find the right land and were prepared to take the risk of it ever being completed, you would almost certainly be able to achieve a similar result for under the asking price.

Nothing new there then.

However this is unlikely to be the case for the eventual purchaser who will probably see the price as being about the same as a really nice high end apartment in Singapore, Shanghai or Hong Kong.

As the current owner, (me) is quite happy living there at the moment and is in fact rather ambivalent about selling it anyway, it is all rather irrelevant.

At the end of the day, the same rule as with all purchases will apply. " Willing buyer and willing seller"

Please feel free to pop up for a private "view". Those with cheque books especially welcome!

After seeing the bargains to be had in Dubai on Tv last night for around US7.5ml and guaranteed owenership plus unlimited benifit's plus they have electricity on demand. If I was looking I know where I would go. Anyway let us know if ever you sell the property.

[Neilly]

After seeing the bargains to be had in Dubai on Tv last night for around US7.5ml and guaranteed owenership plus unlimited benifit's plus they have electricity on demand. If I was looking I know where I would go. Anyway let us know if ever you sell the property.

I have to work in Dubai every now and then ...much better here ...and for that sort of coin you'll have your own 'proper' silent generator set-up

[carmine]

Actually only officially been on the market for a little bit over a year.

Owner was offered 300 m for it in 2007 and an almost similar amount in 2008 when it was not for sale.

On an 4 rai almost flat plot of land at that elevation and in that sort of location in Phuket the price of the property would not be regarded as surprising.

In Samui it is regarded as being expensive.

I guess it all depends on where the eventual buyer wants to live.

As regards to Churchill's question re. land and build costs.

The land was relatively cheap when purchased in 2003 but due to topography and location, would now be very expensive.

It was shockingly expensive to build in 2005-2007 due to the enormous detail and quality of the build and would be at least double now and probably more.

If you had the time, energy, could find the right land and were prepared to take the risk of it ever being completed, you would almost certainly be able to achieve a similar result for under the asking price.

Nothing new there then.

However this is unlikely to be the case for the eventual purchaser who will probably see the price as being about the same as a really nice high end apartment in Singapore, Shanghai or Hong Kong.

As the current owner, (me) is quite happy living there at the moment and is in fact rather ambivalent about selling it anyway, it is all rather irrelevant.

At the end of the day, the same rule as with all purchases will apply. " Willing buyer and willing seller"

Please feel free to pop up for a private "view". Those with cheque books especially welcome!

After seeing the bargains to be had in Dubai on Tv last night for around US7.5ml and guaranteed owenership plus unlimited benifit's plus they have electricity on demand. If I was looking I know where I would go. Anyway let us know if ever you sell the property.

They also have law and order

[Neilly]

They also have law and order

Yes...some of them very strict

[Rooo]

Carmine, he has a silent generator.

[Tropicalevo]

They also have law and order

Yes...some of them very strict

For sure. Try sitting outside at a street cafe or on a beach - enjoying a cold glass of the amber nectar in Dubai

Free accomodation for quite a while methinks.

Back on topic - I have noticed more activity in the area where I live recently.

1 Very decent property at a sensible price - nice plot of land - stunning views - SOLD.

2 Smallish property - small piece of land - smallish but reasonable price - good views - SOLD. Both in the last month.

Previous to that - only one property sale in years (and I mean years!), and that was to a developer who knocked the properties down.

Although real estate agents had taken visitors to both sold properties, the eventual sales were direct with owners. No agents. Just a sign outside the house.

There are other properties for sale in the locale - all overpriced for what they are - all still for sale.

It seems that westerners look at property sales here as being similar to their own country. ie I have a great house it must be worth a fortune. The reality is - price/location/land/location/land. A great house makes for an easier sale under those conditions.

I know that this is all a generalisation - but on the whole it seems to stand up. There are always exceptions.

Edited May 1, 2013 by Tropicalevo

[nod]

Actually only officially been on the market for a little bit over a year.

Owner was offered 300 m for it in 2007 and an almost similar amount in 2008 when it was not for sale.

On an 4 rai almost flat plot of land at that elevation and in that sort of location in Phuket the price of the property would not be regarded as surprising.

In Samui it is regarded as being expensive.

I guess it all depends on where the eventual buyer wants to live.

As regards to Churchill's question re. land and build costs.

The land was relatively cheap when purchased in 2003 but due to topography and location, would now be very expensive.

It was shockingly expensive to build in 2005-2007 due to the enormous detail and quality of the build and would be at least double now and probably more.

If you had the time, energy, could find the right land and were prepared to take the risk of it ever being completed, you would almost certainly be able to achieve a similar result for under the asking price.

Nothing new there then.

However this is unlikely to be the case for the eventual purchaser who will probably see the price as being about the same as a really nice high end apartment in Singapore, Shanghai or Hong Kong.

As the current owner, (me) is quite happy living there at the moment and is in fact rather ambivalent about selling it anyway, it is all rather irrelevant.

At the end of the day, the same rule as with all purchases will apply. " Willing buyer and willing seller"

Please feel free to pop up for a private "view". Those with cheque books especially welcome!

After seeing the bargains to be had in Dubai on Tv last night for around US7.5ml and guaranteed owenership plus unlimited benifit's plus they have electricity on demand. If I was looking I know where I would go. Anyway let us know if ever you sell the property.

Cheers John. Will do. Though in the current market, I don't think it will be anytime soon.

With regards to Dubai, of course it is all down to personal preference, though I have to say, I would have to be paid a huge amount of money and given the house free, to go and live there.

This, even though, the nicest people you are likely to meet there are Thais, Plillipinos etc. mostly from this area of S.E. Asia that I enjoy so much.

If the property ever sells, I will be using the bulk of the proceeds to build another property on the Island and hopefully using the change to enjoy even more fully, whatever little time I and have left on this Earth.

Cheers.

[Rooo]

Where I live in the last 6 months.

2 properties ( houses ) sold.

4 blocks of land changed hands.

And new high end villas being built.

That's what I am aware of, could be more, so things look on the up & up.

[Boater]

Where I live in the last 6 months.

2 properties ( houses ) sold.

4 blocks of land changed hands.

And new high end villas being built.

That's what I am aware of, could be more, so things look on the up & up.

Not to mention replay in Bangrak have 14 units left , so people are buying

Sent from my iPhone using ThaiVisa app

[Joe Mamma]

Gives a new meaning to KA-CHING!

[lucjoker]

WOW I thought a forgiener could only own a condo

http://woningen.tweedehands.net/te-koop-buitenland/pattaya-aria-villa-with-beach.html

this is a villa ,10 min from Pattaya -center.

4 bed ,6 bath ,privat bar, privat sand beach with palmtrees ,is for sale for 11milj bath and still nobody

is intrested.Mainly because the people find it "too far" from Pattaya.

The real estate guys take more than 30 min to find my house ,because they are not prepared or cant read a gps

So when the client gets out of that car after 30 or 45min ,he already decided not to buy even when they love the house.

The price was 15 milj ,wnt down to 11 milj and .......maybe i have to lower to 1 milj ????????

For now ,if clients arrive i ask they how long it took them to reach my house ,if more than 15 minutes,i dont let them in ,useless anny way.

So property market ,it stinks.

[lucjoker]

Well if the property market is picking up then perhaps someone knows a real estate agent that is moving properties. I want to leave and for obvious reasons would like to sell my villa. Any sensible pm's relevant to this would be greatly appreciated.

Dont look for real estate agents ,mostly ammatuers,who hire thai lady's to do the work ,so......nothing is ever done ,they cant find your house ....

Most of the real estate guys have their own projects and arn't intrested in others.

Do an e-mail to 50 real estates and maybe 5 will answer and maybe 2 will come .

Better to hang it out in Foodland ,Big C,.......

Succes !

[LALes]

I've had my condo in Jomtien listed with about 5 RE agents and not one of them has ever given me a call.

I even offered one of them a 50,000 bonus above commission. Nothing. They are more concerned with

the new condos they are pumping. The re-sale market in Jomtien is dead. Only Russians buying and they

only want cheap, new, under-a-million-baht condos. When the economies in Europe and America come back,

we might see a return of activity. There hasn't been a falang buying a condo in my building in about 3 or 4 years.

[pizzachang]

It is only my opinion but I think the cost of a nice 3 bed/2 bath w/ more than just a driveway as a yard, is rising. I am not so sure about how quick one could sell, though. I bought mine for 1.5 and anything comparable (that I've personally seen) is advertised at 2+ now.

[lucjoker]

I've had my condo in Jomtien listed with about 5 RE agents and not one of them has ever given me a call.

I even offered one of them a 50,000 bonus above commission. Nothing. They are more concerned with

the new condos they are pumping. The re-sale market in Jomtien is dead. Only Russians buying and they

only want cheap, new, under-a-million-baht condos. When the economies in Europe and America come back,

we might see a return of activity. There hasn't been a falang buying a condo in my building in about 3 or 4 years.

Yes ,it's sad.

I can not understand that Jomtien is still prime location ?

Is it the dirty beach and brown water ?

All the sewerings of Pattaya,run down (as anny liquid does) or do you believe they pump the sewering shit upward to...???? a filtering station ?

They exist ,but are or not active ,broke ,but surrely unefficient !

Just look at the water quality arround Pattaya (idem Jomtien ) ,fill a clear glas an look in it .

Still it amasses me they could even sell a muddy beach in Mon Awat and put nice skyscrapers whit a blue sea "in the brochures",and sell it!

Location -lie, location-lie

[Maipenrai007]

OK, 10 million USD!!!

You could buy 3 X 3 bedroom villa residences at the 4 Seasons in Samui for that amount!! Each of the villas has 2 pools, so for 10 million you would have 6 swimming pools and 9 bedrooms and bathrooms all within the gated luxury of the 4 seasons resort.

How many wood ducks are there around with 10 million US?

[churchill]

OK, 10 million USD!!!

You could buy 3 X 3 bedroom villa residences at the 4 Seasons in Samui for that amount!! Each of the villas has 2 pools, so for 10 million you would have 6 swimming pools and 9 bedrooms and bathrooms all within the gated luxury of the 4 seasons resort.

How many wood ducks are there around with 10 million US?

and the management fees / charges for electric etc ??

[nod]

OK, 10 million USD!!!

You could buy 3 X 3 bedroom villa residences at the 4 Seasons in Samui for that amount!! Each of the villas has 2 pools, so for 10 million you would have 6 swimming pools and 9 bedrooms and bathrooms all within the gated luxury of the 4 seasons resort.

How many wood ducks are there around with 10 million US?

I suppose after a while I will just give up commenting on this matter and just leave everybody to their own opinion.

At the end of the day, I suppose the only opinion that matters will be that of the buyer, should such an illusive person ever appear again.

However as there is a question at the end of your post I will respond.

As far as I know, no wood ducks come with the property.

With regards to your comparison to Four Seasons Villas.

Four Seasons is a fantastic resort and the Villas have a wonderful feel to them.

On top of this the place is spectacularly well managed by true professionals.

Four Seasons, along with Santiburi are in my humble opinion are the finest on Samui.

However I think it is fair to say that someone who would like to become an owner at Four Seasons, would likely to be not attracted to owning this property.

By the same token, I think any likely purchaser of my property would not be interested in the Villas next to Four Seasons and currently managed so well by them.

They are two completely different concepts in property ownership.

The lucky pampered owners at Four Seasons get driven in golf carts to their properties.

I like to drive my car into my property.

They are more comfortable having neighbours and being on small plots.

I like being on a large 4 rai plot in relative privacy.

They are so well catered for that they don't need a kitchen of any size. I like a huge kitchen that I can cook in.

You are clearly much better informed than I because I was under the impression that the better Villas on Four Seasons were in fact being marketed for around 145m baht, so I suspect you would be nearer to getting two for the same money than three.

Also all the Villas I have been round at Four Seasons in fact have one pool, not two, and very sensible too.

I think eggs need to be compared with eggs really.

I'm guessing a guy that wants to buy a Bentley would not go and suddenly buy two Range Rovers because he can get two for the same price as the Bentley.

At least I'm hoping this applies to property as well.

Sadly, at the moment, I am well short of affording either at the moment, but I might go bananas if the property ever sells! Ha ha!

Cheers.