Home and Condo Expo to stimulate Real Estate sector in Thailand

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Home and Condo Expo to stimulate Real Estate sector in Thailand

BANGKOK, 10 October 2014 (NNT) –The Thai Real Estate Association, the Housing Business Association, and the Thai Condominium Association have joined forces in organizing the 31st House and Condo Expo under the theme of ‘Ultimate Solutions to all Housing Needs’ during 9 -12 October 2014. The event is expected to attract more than 100,000 visitors, or to generate over 4 billion baht of income.

The 31st House and Condo expo is organized to stimulate the real-estate market in the last quarter of the year, boost consumers’ confidence, and also allow Thais to gain access to housing loans. The fair features more than 600 projects covering land plots, houses, condos, shop houses, resort homes, and golf courses both in Bangkok and in other provinces.

Thailand Real Estate Association expressed confidence that Thailand’s real estate sector would recover by the second half of this year and grow continuously afterwards. During the previous quarters, several factors had affected the real-estate market, including the political turmoil, but the current economic fundamentals have been improved due to the new government's stability. An improvement in the nation’s consumer confidence has already shown during the last quarter.

The real estate sector is to expand by 10 percent in 2015 and will continue to grow at that pace for the next 3-5 years.

Real estate sector in the last quarter is to grow by leaps and bounds during the next few years, given house prices remaining relatively low. Many real estate developers have been pushing for the sales of their property by offering wide-ranging incentives to attract customers.


-- NNT 2014-10-10

[Fiddlesticks]

When you wish upon a star . . .

Thailand - hub of dreamers!

[Thai at Heart]

During the previous quarters, several factors had affected the real-estate market, including the political turmoil, but the current economic fundamentals have been improved due to the new government's stability

So the political turmoil stopped people buying houses. Hmmmmm.

Thisis the problem when you have to be positive about the current situation. it makes it all very delusional.

[jacky54]

The over supply of condo's and houses here is already enormous, why carry on building yet more?

[hansgruber]

Stop building and create a demand first. Oversupply is an understatement.

Sent from my LG-D858

[pistachios]

Building more condos. Who would have thought? Seems like a good idea.

[janpharma]

In Pattaya there are more than 7000 condo's for sale....why build more?

And about houses...farang can't own them and can't immigrate ..."amazing joke"?

[jaltsc]

"...generate over 4 billion baht of income."

Need to get my hands on the stuff these guys are smoking.

[taony]

I am not sure which is more out of control, all the focus on tourism or all the focus on real estate.

[Suffinator]

I wonder how many more idiots will be rushing to buy property in the Land of Scams. Yeah, sounds like a great deal... hand over money for something you can't own. Duh!

[utalkin2me]

Now if they could just get with it and build something properly they may really be onto something.

[ezzra]

Like this country needs more condos like it's need Thaksin to be the PM again,

and in Pattaya and Sukhumvit areas in particular...

[bangkapi]

Stop it with the "condo's" already.

Plural of condo is condos.

Jeez!!

[bangkapi]

And where is this fair being held?

[Robby nz]

The 31st House and Condo expo is organized to stimulate the real-estate market in the last quarter of the year, boost consumers’ confidence, and also allow Thais to gain access to housing loans.

Allow Thais to gain access to housing loans.

In other words increase the already high indebtedness which is said to be at an all time high with defaults on loans increasing.

The target market for these expos are not from overseas but rich and middle class Thais.

The rich would buy as an investment property but the middle class are said, from what I read elsewhere, to already be in debt because of the first car scheme so laying a housing loan on top of their debt would not really be a great help to the economy.

[khunpa]

Great please keep building - more and more... I will just wait until the collapse, which should be in about 2-3 years time.

[Ulic]

Real estate is a little funny in Thailand. Always a lot of churning by foreigners as they tend to buy a little later in

life and then sell when health fails or they loose interest in Thailand and return home. Plenty for sale in the re-sale

and off plan market, a definite oversupply but prices keep going up. I do believe the TV members are correct

and it is only a question of when the bubble will burst and how much it will fall.

[SoFarAndNear]

If you drive around BKK city at 8-9 P.M just have a look how many lights are open at the Condo Towers. Hardly to see a building where more then 50% seems to be inhabited.

[jacky54]

strangest of all is the obsession with shop houses, loads of new ones around that nobody had bought but still they keep building the ugly things

[trogers]

Developers and moneylenders hoping to make more profit through indebtedness of the folly.

[TheCruncher]

During the previous quarters, several factors had affected the real-estate market, including the political turmoil, but the current economic fundamentals have been improved due to the new government's stability

So the political turmoil stopped people buying houses. Hmmmmm.

Thisis the problem when you have to be positive about the current situation. it makes it all very delusional.

I had a house listed on the market since early March.

Response was pretty good with at least 2-3 responses a week and at least 1 actual visit each week. Most interested people you could clearly notice they were waiting for something before making a decision.

Then all of sudden the responses waned to about 1 response in 3 weeks and 1 viewer every other month.

I had high ranked people from a foreign Embassy in a neighboring country who visited 3 times, but around the same time decided to opt for a 1 year rental somewhere to watch how things would develop in Thailand.

The date all this happened was 22nd of May.

Was that the date the political turmoil started?

[kowpot]

As a general rule, Thais don't buy used houses. "Maybe there is bad Karma or something in there"? So, most used houses that the owner moved out of normally becomes unoccupied or a rental. That's great for those that normally rent. But, it also leaves a lot of vacant houses. So, it just goes on and on. New houses being built and used houses being abandoned. If too many people walk away from their house because they can no longer make the payments and it sits empty because no Thai person will buy it. The banks will suffer and then the collapse happens all over again. The government should get smart. Let foreigner buy used houses. The banks will be happy, the previous owner will be happy because maybe he doesn't have to default on the loan, the Falangs will be happy.

[fish fingers]

With Thailand's household debt and car repo's at an all time high, and taxes going up massively over the next 2 yrs, I think the housing market is going to suffer. Without saying which city's property market is growing at 15% a year, look to neighbouring countries to invest

Edited October 10, 2014 by fish fingers

[mango66]

If you drive around BKK city at 8-9 P.M just have a look how many lights are open at the Condo Towers. Hardly to see a building where more then 50% seems to be inhabited.

been 3 times this year in Jomtien,

1000 apartment unit in front of my hotel,

, 10 to 15 lights on the evening !!

[mango66]

During the previous quarters, several factors had affected the real-estate market, including the political turmoil, but the current economic fundamentals have been improved due to the new government's stability

So the political turmoil stopped people buying houses. Hmmmmm.

Thisis the problem when you have to be positive about the current situation. it makes it all very delusional.

I had a house listed on the market since early March.

Response was pretty good with at least 2-3 responses a week and at least 1 actual visit each week. Most interested people you could clearly notice they were waiting for something before making a decision.

Then all of sudden the responses waned to about 1 response in 3 weeks and 1 viewer every other month.

I had high ranked people from a foreign Embassy in a neighboring country who visited 3 times, but around the same time decided to opt for a 1 year rental somewhere to watch how things would develop in Thailand.

The date all this happened was 22nd of May.

Was that the date the political turmoil started?

that made them to think more about such an investment !!

And TV memebers are right !

Dont buy, rent,

if you know Thailand better,

you will go away again !!

Just reat the Koh Tao and RTP story !!

Than you know what you can expect from this country !

And if the PM will not settle this case with catching the real culptries - murders,

which everyone knows,

( if you dont know, ask the village headman !! ))

you will not get the 1 visit per month any more !!

[Krataiboy]

The over supply of condo's and houses here is already enormous, why carry on building yet more?

A bit like the oversupply of apostrophes.

[binjalin]

take away the stupid 49% rule now THAT would stimulate the market

[bangon04]

If you drive around BKK city at 8-9 P.M just have a look how many lights are open at the Condo Towers. Hardly to see a building where more then 50% seems to be inhabited.

been 3 times this year in Jomtien,

1000 apartment unit in front of my hotel,

, 10 to 15 lights on the evening !!

They have made it clear that they do not want foreigners to own "holiday homes". The 49/51 rule makes it very difficult to fill a condo building, and as previous posters have pointed out, Thais prefer to buy "new" so they will continue to build more new homes to supply the "investor" demand, and hope that the thai middle class will eventually take up the slack.