Compare property prices

[Blackandwhite]

Most countries have a way of getting a gauge of what a property is worth is that I any way possible in Thailand - is there any website that has sold prices on. For my property investments here in the uk we are always able to see what the past price paid for a house and what else has sold recently in the area. Is there any such website.

Also as an example of the rental properties I have here in the Uk all are easy to rent and cover on repayment the mortgages and are never empty when a tenant does leave which is rare the property is never empty for long than a few weeks.

Is there the same guarantee in Thailand of have a rental property functioning well and running as a business with ease.

[topt]

Even if there was a site (and I am not aware of one) or you were able to access the prices at the land registry dept. you would have to ask yourself would they be worth anything - most people (so i understand ) understate the price at the land dept. to pay lower taxes. Agents, I would suggest, are likely to overstate for obvious reasons,

I don't think you can ever "guarantee" a rental return anywhere but if you have to right location and price then it can work for you.

However I know of several properties in the moo bahn I am in where they have been up for rent for more than a few months - like 6 months in one instance. Another renter who moved out from one house bemoaned the fact that a thai owner would not drop the price at all even though the property had been vacant for the best part of a year.

There are mentions in other threads on rentals and some TV posters seem to have succesfully navigated the choppy waters - check out some of Cheeryble's comments.

[rgs2001uk]

Is there any such website.

No.

Is there the same guarantee in Thailand of have a rental property functioning well and running as a business with ease.

Depends on which property agent you talk to and how quick you are to hand over your money.

If you can make 4/5 % here you are doing well, there are the odd exceptions if you want to get involved in the "slum landlord" situation.

My best advice as someone who owns several properties in the UK, keep your money there, alternatively if you are a dreamer who dreams of being here, press on.

[KittenKong]

Most property dealings in Thailand seem to be based on deceit and lies. I've never come across much in the way of openness, transparency or honesty.

So the chance of getting any accurate pricing information from anyone here is probably very close to zero.

[PattayaPhom]

If the area is Pattaya and you explain details of property you are interested in, Im happy to let you know the achieved sale prices of similar properties we have sold in the last 12 months. No reason to fabricate prices as one poster mentioned

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[Blackandwhite]

Okay I see the picture - maybe some good opportunity but as per usual in Thai style it is hard to trust what is said and offered.

[PattayaPhom]

Okay I see the picture - maybe some good opportunity but as per usual in Thai style it is hard to trust what is said and offered.

In true ThaiVisa style. Not reality listening to the keyboard warriors that havnt tuppance to their names

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[sotsira]

Okay I see the picture - maybe some good opportunity but as per usual in Thai style it is hard to trust what is said and offered.

If you find a property that you would like to purchase, before doing so or negotiating a price, you could take the

full address down to the land office and ask them to give you the valuation that they base the taxes on, together

with the tax amount.

That will give you a prudent figure of what the property is worth.

[FiftyTwo]

Okay I see the picture - maybe some good opportunity but as per usual in Thai style it is hard to trust what is said and offered.

No good opportunities offered to foreigners ..... ever.

A few desperation sales occasionally from a foreigner to another foreigner.

A Thai (or Thai bank) would rather die than sell at a loss (especially to a foreigner).

Best to assume any offer you can get is 30% more than real market value.

[davejones]

I just moved into a brand new condo. The owner thanked me for renting it because it's been empty for 2 years. Last condo was empty for a year before I moved in. I know plenty that have been empty for over a year because there's either no-one to rent them or rent is too high. This isn't the UK. Market is very over-supplied from what I can see. I've never seen this many empty properties anywhere else in the world.

[PattayaPhom]

Okay I see the picture - maybe some good opportunity but as per usual in Thai style it is hard to trust what is said and offered.

No good opportunities offered to foreigners ..... ever.

A few desperation sales occasionally from a foreigner to another foreigner.

A Thai (or Thai bank) would rather die than sell at a loss (especially to a foreigner).

Best to assume any offer you can get is 30% more than real market value.

You have either met the wrong people or made mistakes yourself. Many people in Pattaya receive returns in excess of 10% and continue to do so, although the OP hadn't stated where he wishes to purchase. Other areas of Thailand of course will be different

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[KittenKong]

Not reality listening to the keyboard warriors that havnt tuppance to their names

Ah, but who to believe?

The keyboard warrior who made more than enough money to retire at 50 and who earns a nice income from his investments but who doesn't think that buying a Thai condo is a good idea given the apparent huge oversupply, or some pot-bellied shaven-headed estate agent desperately trying to earn a few thousand Baht commission to finance his next meal?

Decisions.

[KittenKong]

Many people in Pattaya receive returns in excess of 10% and continue to do so, ...

It's odd. All the people I know who rent pay well under 10% of the value of their unit, and that doesnt take into account the expenses, repairs, common fees etc. which their landlord has to pay.

And quite a few people I know pay well under 5% of the value of their unit in rent, again not including fees, commissions, charges, repairs etc. I'm in that group too.

So I wonder if these people who earn over 10% from their rental condos weren't previously in the SAS also?

[trogers]

I just moved into a brand new condo. The owner thanked me for renting it because it's been empty for 2 years. Last condo was empty for a year before I moved in. I know plenty that have been empty for over a year because there's either no-one to rent them or rent is too high. This isn't the UK. Market is very over-supplied from what I can see. I've never seen this many empty properties anywhere else in the world.

Pattaya is just a pinprick of the real thing.

[rgs2001uk]

Okay I see the picture - maybe some good opportunity but as per usual in Thai style it is hard to trust what is said and offered.

In true ThaiVisa style. Not reality listening to the keyboard warriors that havnt tuppance to their names

Sent from my ST27a using Thaivisa Connect Thailand mobile app

Alternatively, he could take totally impartial advice from a real estate agent who lives by the mantra, make the sale.

Meanwhile back in the real world, he could listen to guys who live here and see whats happening on the sois.

2 million baht shophouses being rented for 6,000 baht per month.

3-4 million baht houses being rented for less than 10k per month.

Condos being offerd for rental for more than it costs to buy one.

If the OP can read Thai, head over to Prakard for a feel of whats happening.

If he cant read Thai head over to the real estate forum and see whats being offered fro sale/rent and check the returns available.

[PattayaPhom]

Not reality listening to the keyboard warriors that havnt tuppance to their names

Ah, but who to believe?

The keyboard warrior who made more than enough money to retire at 50 and who earns a nice income from his investments but who doesn't think that buying a Thai condo is a good idea given the apparent huge oversupply, or some pot-bellied shaven-headed estate agent desperately trying to earn a few thousand Baht commission to finance his next meal?

Decisions

You definately are mixing in the wrong circles if that is the kind of agents you are meeting. Just for the record, I made enough by my 40th

[rgs2001uk]

Not reality listening to the keyboard warriors that havnt tuppance to their names

Ah, but who to believe?

The keyboard warrior who made more than enough money to retire at 50 and who earns a nice income from his investments but who doesn't think that buying a Thai condo is a good idea given the apparent huge oversupply, or some pot-bellied shaven-headed estate agent desperately trying to earn a few thousand Baht commission to finance his next meal?

Decisions

You definately are mixing in the wrong circles if that is the kind of agents you are meeting. Just for the record, I made enough by my 40th

Great stuff, made enough by the time you were 40, maybe now the penny will drop and you will understand why those of us who have enough dont need to invest in Thai property.

Now that you have enough have you given up on flogging property to suckers in Pattaya?

[KittenKong]

You definately are mixing in the wrong circles if that is the kind of agents you are meeting.

They are pretty much all like that here. Except perhaps the skinny young ones that are fresh off the banana boat. Oh, and the skinny old ones who look like they cant afford a fattening meal or a beer, and who arrive at viewings on foot or on a little Yamaha.

Just for the record, I made enough by my 40th

And that's supposed to encourage me to deal with agents? Given that every penny they make comes straight out of a buyer's pocket.

[PattayaPhom]

You definately are mixing in the wrong circles if that is the kind of agents you are meeting.

They are pretty much all like that here. Except perhaps the skinny young ones that are fresh off the banana boat. Oh, and the skinny old ones who look like they cant afford a fattening meal or a beer, and who arrive at viewings on foot or on a little Yamaha.

Just for the record, I made enough by my 40th

And that's supposed to encourage me to deal with agents? Given that every penny they make comes straight out of a buyer's pocket.

Owners pay commission..Not Buyers!!!...

[KittenKong]

Owners pay commission..Not Buyers!!!...

Typical agent-speak.

Whose pocket does all the money in a property transaction come out of? The buyer's. So who pays for everything?

[PattayaPhom]

Owners pay commission..Not Buyers!!!...

Typical agent-speak.

Whose pocket does all the money in a property transaction come out of? The buyer's. So who pays for everything?

You expect people to work for free? Sellers approach agents to do a job, sign a contract and only pay when the job is done...same the world over. Buyer dosnt pay anything.

[FiftyTwo]

Owners pay commission..Not Buyers!!!...

Typical agent-speak.

Whose pocket does all the money in a property transaction come out of? The buyer's. So who pays for everything?

You expect people to work for free? Sellers approach agents to do a job, sign a contract and only pay when the job is done...same the world over. Buyer dosnt pay anything.

I didn't think foreigners were allowed to work as agents selling property in Thailand.

Are you doing this legally?

[KittenKong]

Owners pay commission..Not Buyers!!!...

Typical agent-speak.

Whose pocket does all the money in a property transaction come out of? The buyer's. So who pays for everything?

You expect people to work for free? Sellers approach agents to do a job, sign a contract and only pay when the job is done...same the world over. Buyer dosnt pay anything.

Working for free has nothing to do with it. The buyer most certainly does pay for everything.

[PattayaPhom]

Owners pay commission..Not Buyers!!!...

Typical agent-speak.

Whose pocket does all the money in a property transaction come out of? The buyer's. So who pays for everything?

You expect people to work for free? Sellers approach agents to do a job, sign a contract and only pay when the job is done...same the world over. Buyer dosnt pay anything.

I didn't think foreigners were allowed to work as agents selling property in Thailand.

Are you doing this legally?

You know what thought done

[PattayaPhom]

Owners pay commission..Not Buyers!!!...

Typical agent-speak.

Whose pocket does all the money in a property transaction come out of? The buyer's. So who pays for everything?

You expect people to work for free? Sellers approach agents to do a job, sign a contract and only pay when the job is done...same the world over. Buyer dosnt pay anything.

Working for free has nothing to do with it. The buyer most certainly does pay for everything.

How

[SDM0712]

I wish there was, but sadly not. When I'm doing valuations in the UK the first thing we do it to pull the Land Registry Records. As all property sales since 2000 are public information. But the records only show address and price, levels of accommodation are not mentioned. There are then some very useful online price calculators that allow you to put a price and date in and they can extrapolate a price to the current quarter, using published market movement indices. Not always that accurate, but a nice pointer. So when we visit a seller in the UK we can bring, details of all similar sales going back to 2000, a summary extrapolation report of historic prices shown as approximate current day prices, plus details of everything we have sold. All factors combined give me a basis for an upper and lower value, and it makes it relatively easy to set an asking price.

However over here in Thailand it's more a case of the seller telling you what he wants and the agent either accepts or doesn't get the listing. I asked one seller recently how he assessed his price, what the rationale was behind his assumed value and was told " nothing really, just what I think". This kind of marketing, combined with a general lack of genuine buyers has caused the local market here to be generally overpriced. Also the attitude to time scale is very different here. Over here quite often I hear " I have only been on the market for two years, so early days really". If I intimated to a UK seller that we might be looking at more than six months to find a buyer that would be the end of the conversation and I would probably be shown the door.

So to confirm, there is no such website but if there were it might make the market here a bit more sensible.

Regards

Stephen

[robkey69]

My Thai wife and I (yea I know I don't own squat) bought and built new house in a new development at Payoon Beach by Ban Chang (Payoongreenvill) At the time seemed like the right move, We have owned it for 7 years now and wished I never bought the place....development is decent...but the recreation area where the pool is has become rundown. That and to subidize the operation they let the locals swim in it for minimal amount...that leads to over crowding of Thai kids and the quality of the pool area looks like a dirty YMCA pool...maybe not the YMCA pool looks better! Plus the management team doesn't control the kids....now if I want to go swimming in a decent pool I go to Pattaya and stay in a nice hotel.

Also the owners of Payoongreenvill don't do the same type of matinence on Payoongreenvill as say the Eastern Star development....I wish I would have bought in there....

So I think I'm going to sell the house...and would feel lucky to break even...

[trogers]

My Thai wife and I (yea I know I don't own squat) bought and built new house in a new development at Payoon Beach by Ban Chang (Payoongreenvill) At the time seemed like the right move, We have owned it for 7 years now and wished I never bought the place....development is decent...but the recreation area where the pool is has become rundown. That and to subidize the operation they let the locals swim in it for minimal amount...that leads to over crowding of Thai kids and the quality of the pool area looks like a dirty YMCA pool...maybe not the YMCA pool looks better! Plus the management team doesn't control the kids....now if I want to go swimming in a decent pool I go to Pattaya and stay in a nice hotel.

Also the owners of Payoongreenvill don't do the same type of matinence on Payoongreenvill as say the Eastern Star development....I wish I would have bought in there....

So I think I'm going to sell the house...and would feel lucky to break even...

The long term value of a property in a community will also depend on the type of community. This applies to both landed properties and condos.

[VegasVic]

I just moved into a brand new condo. The owner thanked me for renting it because it's been empty for 2 years. Last condo was empty for a year before I moved in. I know plenty that have been empty for over a year because there's either no-one to rent them or rent is too high. This isn't the UK. Market is very over-supplied from what I can see. I've never seen this many empty properties anywhere else in the world.

Pattaya is just a pinprick of the real thing.

Very very true, and this 60 minutes segment just scratches the surface. The Chinese real estate bubble, both residential and commercial may very well be the largest bubble in the history of the world and when it bursts the ramifications will be felt all over the globe, but especially in the S.E. Asian region. A capitalistic system run by communists is a recipe for disaster sooner or later and my hunch is that it will be sooner. If I were in the Chineese upper middle class I would liquidate any and all real estate holdings(except for farmland) and buy lots of gold and diamonds with the proceeds. The greater fool theory is in full effect in the Chinese real estate market and the music is about to stop playing.