Property demand affected by the recent earthquakes?

[tangcoral]

I had a chance to speak with an owner of a multi-housing developer in CM and they said they are struggling to find buyers after the recent earthquake.

I'm sure the political turmoil and the most recent coup has probably more affect with the slow down but earthquakes?

Back in 92 after the northridge quake in los angeles, property prices were noticeably depressed for a few years as many left the state out of fear, so it is plausible but I didnt think the recent earthquake really jolted peoples mind.

[brommers]

In view of the fact that there was no damage to property in Chiang Mai it seems that this is merely an excuse pulled out of the febrile mind of one of the developers who has contributed to the excessive amount of property that is being sold here.

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

[junglechef]

My chicken coop is leaning a bit to the left after the recent shakes, but it should just increase the value as it's now an National Historic Site, The Leaning Chicken House of Chiang Mai

[worgeordie]

Too much property,too few buyers =not good for business,even a blind man

could see that.plus they are asking too much money, for what they are offering.

regards Worgeordie

[AnotherOneAmerican]

I wouldn't buy here after the coup.

[Oscar2]

i would think foreigners should be very careful of any real estate deals (other than condominium purchases) as no doubt one of the next things those in charge will be doing is taking a good look at how real property is held in this country and will be looking even closer at any foreigner involvement.

[Mousehound]

My chicken coop is leaning a bit to the left after the recent shakes, but it should just increase the value as it's now an National Historic Site, The Leaning Chicken House of Chiang Mai

If you promote this as an attraction to force prices up be careful. You will have to state if it leans to the left or the right and someone on TV will interpret this as a political comment. Further, you may well face litigation from a well known chicken food outlet. (I use the term food loosely, naturally).

On a more serious note my wife's family are from Christchurch in NZ and it earthquakes loom high in our demons. As I suspect they do with those that have lived through them in California or elsewhere. Glad to hear that there was no great damage done in CM.

[northernjohn]

I wouldn't buy here after the coup.

You won't buy here because they are finally doing some thing about the corruption?

That can be taken several ways.

Any particular reason? do hope you are not saying you needed all the corruption in order to buy.

I won't buy for several reasons and one of the main one's is I think the bubble is going to burst.

[AnotherOneAmerican]

I wouldn't buy here after the coup.

You won't buy here because they are finally doing some thing about the corruption?

That can be taken several ways.

Any particular reason? do hope you are not saying you needed all the corruption in order to buy.

I won't buy for several reasons and one of the main one's is I think the bubble is going to burst.

When the war (civil or otherwise) starts my house in Thailand will be worthless.

I just don't want to live in a country ruled by a junta or dictatorship.

No person in their right mind would buy at this time.

[tango]

I wouldn't buy here after the coup.

You won't buy here because they are finally doing some thing about the corruption?

That can be taken several ways.

Any particular reason? do hope you are not saying you needed all the corruption in order to buy.

I won't buy for several reasons and one of the main one's is I think the bubble is going to burst.

"....one of the main one's is I think the bubble is going to burst."

People have been thinking / saying that for the last two decades; bubble-burst- seriously doubtful.

[Oscar2]

I wouldn't buy here after the coup.

You won't buy here because they are finally doing some thing about the corruption?

That can be taken several ways.

Any particular reason? do hope you are not saying you needed all the corruption in order to buy.

I won't buy for several reasons and one of the main one's is I think the bubble is going to burst.

"....one of the main one's is I think the bubble is going to burst."

People have been thinking / saying that for the last two decades; bubble-burst- seriously doubtful.

"seriously doubtful." you gotta be joking.

[beau thai]

I would be very surprised if the quake has had any affect on property purchases and for all those renters predicting a bursting bubble, if you say it for long enough it will be true as property is cyclical by nature.

When prices go up more people sell land and more is built until it is eventually too much, then prices level or fall for a while. But unless the fall is to below the price you bought at and you need to sell at that point do you really care? The alternative is to keep paying rent for years... and years....and years.

Surely the question is not what will happen next year or the year after, but will my property be worth more in 10 years time. If you believe it wont be, keep paying rent.

Personally I have a different view and prefer to buy. But none of can be right- yet.

[AnotherOneAmerican]

I would be very surprised if the quake has had any affect on property purchases and for all those renters predicting a bursting bubble, if you say it for long enough it will be true as property is cyclical by nature.

When prices go up more people sell land and more is built until it is eventually too much, then prices level or fall for a while. But unless the fall is to below the price you bought at and you need to sell at that point do you really care? The alternative is to keep paying rent for years... and years....and years.

Surely the question is not what will happen next year or the year after, but will my property be worth more in 10 years time. If you believe it wont be, keep paying rent.

Personally I have a different view and prefer to buy. But none of can be right- yet.

I'm thinking more foreigners suddenly have to return to their home country than don't.

Being stuck with a property you can't sell and can't use, while in a different country wouldn't be nice for most people.

OK if you have so much money it doesn't matter.

[beau thai]

why do 'more foreigners suddenly have to return to their own country'??? and 'more than dont' ? do I understand you to say that over 50% of foreigners need to return home suddenly???

[AnotherOneAmerican]

why do 'more foreigners suddenly have to return to their own country'??? and 'more than dont' ? do I understand you to say that over 50% of foreigners need to return home suddenly???

No money, no VISA, bad health, sick parents, wife hiring hit man, etc.

Seen loads of foreigners that had to leave in a hurry.

It's not like you can get a job here, if the money gets a bit low, and you lose your VISA.

[terminatorchiangmai]

Find an area where you want to stay the rest of your life, that means living there first for a few years.

Then buy a house and if you have to leave the country for whatever reason just give the property to your wife / girlfriend.

She most likely earned it by staying with you all that time and otherwise you would have thrown away the money on rent anyhow.

I would rather buy the house i am living in then renting it but the owner don't want to sell it so i keep looking for another place in our moobaan.

Edited June 15, 2014 by terminatorchiangmai

[WinnieTheKhwai]

I wouldn't buy here after the coup.

You won't buy here because they are finally doing some thing about the corruption?

That can be taken several ways.

When the war (civil or otherwise) starts my house in Thailand will be worthless.

I just don't want to live in a country ruled by a junta or dictatorship.

I'm not a fan of military run government, generally speaking, but where we differ in opinion is that I don't consider the (most recent) coup any kind of change of what came before it. Thailand was never a real democracy anyway; yes they had elections and a parliament as window-dressing, and they are even allowed to take care of day-to-day politics, most of the time. But as for who truly holds power in Thailand: No change in the last half-century or so.

(It took a coup for me to realize this too though, the 2006 one.)

So in terms of buying property, that's still the same risk as it ever was. As for civil war you can probably guess what will be the most risky time for that.

Edited June 15, 2014 by WinnieTheKhwai