Somebody give me some good news PLEASE.

[Kaymcdonnell]

So each year for what seems like forever all everyone who is anyone keeps telling me it is going to get worse before it gets better. I have been hearing this in the property market for years. When i first started out it was great. Can some really talented person out there predict when it might get better? There must be a bright spark out there somewhere?

[gerry123]

it is better that is why it can only get worse

[LivinginKata]

I think it will continue to be bad. The world economy outlook is bleak. The US stock market is in free fall this past week. I don't see any good signs for the Phuket property market. It's a buyer's market and not too many people are buying.

[Shot]

It will get better in the future.

I started out with nothing and I still have most of it left.

[stevehaigh]

simple, invent a time machine and go check it out yourself

[stevehaigh]

I started out with nothing and I still have most of it left.

i spent most of my money on women and beer, the rest i just wasted.

Edited October 16, 2014 by stevehaigh

[Jimi007]

I just heard an economist at a conference I worked at today saying the next crash should be 2018 based on cycles. Thailand's cycle has been a bit delayed. But it's a boom town up in Buriram I hear with the new football stadium and the F-1 track. I viewed both. Quite impressive.

[Chainsaw]

.....and the good news is: You're living in a tropical paradise, you have enough food to eat, a roof over your head and the sun is shining. Turn off your computer and your phone and go sit on a beach. Stop worrying about MONEY!

Carpe Diem!

[hansgruber]

Tell your sellers to list their property at realistic prices. That will work.

Sent from my LG-D858

[schlog]

Yesterday we had a garden company doing some tree works. Normally the workers come from Burma or Laos and only the foreman is Thai. But this time the workers were Bangladeshi.

The foreman told me their good burmese workers gone home already. In my opinion this is also a small hint that it will continue to be bad or get worse.

Only Casinos can let Phuket shine again. Maybe the Generals have the power to go this way after their counterparts here are gone........

[NamKangMan]

Tell your sellers to list their property at realistic prices. That will work.

Sent from my LG-D858

Tell your sellers to take any price offered to them. That's the only thing that will work, in the current climate.

Edited October 16, 2014 by NamKangMan

[eisfeld]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

[NamKangMan]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

Good post, and what's it all telling you???? ..................................Rent - don't buy.

[Sharp]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

Pretty much summed it up!!

[KarenBravo]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

You might be waiting a long time for a property crash in Phuket.

It has never happened, yet and I don't think it ever will.

The best you can hope for is a slowing of price increases, or, at best prices remain the same.

The reason for this is that most property owners own their properties outright. Property buying using a mortgage is rare for Thais and almost impossible for foreigners.

There are always distressed sales of houses by foreigners, but, land prices, so far, have never gone down as there is usually no pressure to sell.

[fiddlehead]

Thailand is mostly Buddhist.
A few things can be learned from this religion:

Number 1: Chainsaw is rightL Stop worrying about money.

It's accumulation has nothing to do with happiness.

Number 2: Patience is a great virtue.
Most Thais have a lot more than farangs.

That is one reason why prices don't go down.

Another idea we can learn from Thais: Live for today.

(And be glad you didn't take that trip to Nepal to hike the Annapurna circ this October)

[Flying Clog]

You want some good news?

You haven't got Ebola.

Yet.

Who cares about property prices in Phuket. Be smart - rent.

Edited October 16, 2014 by Flying Clog

[NamKangMan]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

You might be waiting a long time for a property crash in Phuket.

It has never happened, yet and I don't think it ever will.

The best you can hope for is a slowing of price increases, or, at best prices remain the same.

The reason for this is that most property owners own their properties outright. Property buying using a mortgage is rare for Thais and almost impossible for foreigners.

There are always distressed sales of houses by foreigners, but, land prices, so far, have never gone down as there is usually no pressure to sell.

"but, land prices, so far, have never gone down" - is that the "land" that foreigners can never own?

That just leaves the foreigner paying over the odds for a poorly constructed pile of bricks and mortar.

Why bother????

[NamKangMan]

Thailand is mostly Buddhist.

A few things can be learned from this religion:

Number 1: Chainsaw is rightL Stop worrying about money.

It's accumulation has nothing to do with happiness.

Number 2: Patience is a great virtue.

Most Thais have a lot more than farangs.

That is one reason why prices don't go down.

Another idea we can learn from Thais: Live for today.

(And be glad you didn't take that trip to Nepal to hike the Annapurna circ this October)

"Another idea we can learn from Thais: Live for today." - on Phuket, they certainly "Live for today" as far as their greed is concerned.

That's why they will all have nothing tomorrow, but hey, only "today" counts, right?

[hansgruber]

I just went to rawai for a look at some apartments.

7.8 million baht for a small 2 bedroom condo with one bathroom and 75sqm. On beach rd but no view.

2nd place was just as shocking. 10.9 million for 105sqm apartment.

Over 100k per sqm is outrageous, especially for rawai.

What's funny is they claim to rent them out for 90k a month. Yeah right.

Market here is ridiculous.

Sent from my LG-D858

Edited October 17, 2014 by hansgruber

[KarenBravo]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

You might be waiting a long time for a property crash in Phuket.

It has never happened, yet and I don't think it ever will.

The best you can hope for is a slowing of price increases, or, at best prices remain the same.

The reason for this is that most property owners own their properties outright. Property buying using a mortgage is rare for Thais and almost impossible for foreigners.

There are always distressed sales of houses by foreigners, but, land prices, so far, have never gone down as there is usually no pressure to sell.

"but, land prices, so far, have never gone down" - is that the "land" that foreigners can never own?

That just leaves the foreigner paying over the odds for a poorly constructed pile of bricks and mortar.

Why bother????

[eisfeld]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

You might be waiting a long time for a property crash in Phuket.

It has never happened, yet and I don't think it ever will.

The best you can hope for is a slowing of price increases, or, at best prices remain the same.

The reason for this is that most property owners own their properties outright. Property buying using a mortgage is rare for Thais and almost impossible for foreigners.

There are always distressed sales of houses by foreigners, but, land prices, so far, have never gone down as there is usually no pressure to sell.

That it didn't happend, doesn't mean it can't happen. But you made a good point that in nearly all cases there is just no need to sell. Unless the owner accumulated somehow debt that he needs to pay off. So we conclude there are not many buyers, the prices are high and there is no pressure to sell (apart from foreigners). That means the market is small and slow moving. That's a conclusion that seems fair enough. A few sellers aim for the moon in case they get lucky and otherwise sit back and relax.

Doesn't look like a market that is very attractive for a property agent though. And there are lots and lots of property agents around.

Thailand is mostly Buddhist.
A few things can be learned from this religion:

Number 1: Chainsaw is rightL Stop worrying about money.

It's accumulation has nothing to do with happiness.

Number 2: Patience is a great virtue.
Most Thais have a lot more than farangs.

That is one reason why prices don't go down.

Another idea we can learn from Thais: Live for today.

(And be glad you didn't take that trip to Nepal to hike the Annapurna circ this October)

Number 1: that's not true at all. Best proven by taking the inverse example: if you have no money you'll likely run into some pretty shitty situations that make you quite unhappy.

Number 2: I didn't experience this at all and I interact with Thais quite a bit. They have a big advantage though: they are Thais - no visa problems, no headache about ownership of land etc. Of course that is a huge advantage regarding property.

Number 3: What mostly happens is "Carpe Diem gone wrong". Most people (Thai or foreigner, doesn't matter) don't understand the concept properly. If you take it literally and don't plan ahead, well, you'll find yourself in a similar situation as outlined in Number 1. Why do so many people and whole countries run into debt they can hardly pay back? Proper foresight is the key to prosperity in the long run. It's the difference between a place that is still nice to live in within 50 years and one that is a dump within 5.

KayMcDonnell: let's make an experiment. You are a real estate agent right? So your job is it to sell me - as a potential buyer - some property. So go ahead and try to convince me why the current prices are fair and why I should buy one of your properties. I swear I will give my best to understand your arguments and realize the value a property has for me.

If you find it hard to do so, and maybe not only with me then it doesn't reflect well on the market.

[Chainsaw]

Number 1: that's not true at all. Best proven by taking the inverse example: if you have no money you'll likely run into some pretty shitty situations that make you quite unhappy.

You missed the meaning entirely. I said stop worrying about money! I didn't say stop worrying about having no money. I assumed that the PO isn't destitute.

Number 2: I didn't experience this at all and I interact with Thais quite a bit.

Well that's just your experience maybe it's the kind of people you interact with, e.g. the money chasers. I interact with Thais all the time and have done for the past 15 years and I find them infinitely more patient than the average farang.

Number 3: You missed the Carpe Diem point entirely and started banging on about planning ahead and other countries debts etc. Don't you understand my words? The meaning was quite simple. STOP WORRYING ABOUT MONEY!

I really do think that you especially would benefit from a day at the beach without your laptop and phone just to give yourself some perspective. Maybe then you would grasp the true meaning of Carpe Diem!

[KarenBravo]

Maybe then you would grasp the true meaning of Carpe Diem!

Something to do with fish?

[Chainsaw]

Maybe then you would grasp the true meaning of Carpe Diem!

Something to do with fish?

No, you're probably thinking of "Carpe Carp"

[LivinginKata]

2 off topic trolls removed.

[NamKangMan]

I have been looking for property in Phuket for over a year, casually though. Meaning I keep an eye on some agent websites and check out places while driving around if I feel like doing so every now and then. But it's not like I really need something quickly. I think there are a bunch of other folks in a similar situation like me. There is just no pressing need (e.g. rapidly climbing prices) to buy urgently. The prices have gone so high in the past couple years that they are mostly unrealistic now. Thailand has not been the most stable country, then the visa crackdown scared a whole lot of people away. Combined with the fact that foreigners cannot own land, that makes property a tough sell if it's not a really good deal. If you can get property in another more stable but equally beautiful place, with less crime, scams, dirt and on top much less risk, why would you buy here?

Phuket is not a place for expats to live a nice family life. It wouldn't be my first choice for bringing kids up. It's not easy to get a well paying job for young people either. Tourists don't buy property. Most thais don't have the money to buy the luxury villas - they buy houses in secure estates or condos and for that they don't need an agent. So who is left? Retirees? They go for less expensive houses and have time to research on their own.

Properties are for sale for years on end and prices keep climbing. Doesn't make sense. There is no logic in the market here. Yes it's a buyers market but the market is <removed> up. No data available on recent sales, questionable build quality in many cases, countruction companies that bring the term "drive-by building" to my head also don't add anything positive.

I am now waiting for a solid crash and will pick up some good deal then. If I am still around here by then, depends on how Phuket can cope with its problems.

You might be waiting a long time for a property crash in Phuket.

It has never happened, yet and I don't think it ever will.

The best you can hope for is a slowing of price increases, or, at best prices remain the same.

The reason for this is that most property owners own their properties outright. Property buying using a mortgage is rare for Thais and almost impossible for foreigners.

There are always distressed sales of houses by foreigners, but, land prices, so far, have never gone down as there is usually no pressure to sell.

"but, land prices, so far, have never gone down" - is that the "land" that foreigners can never own?

That just leaves the foreigner paying over the odds for a poorly constructed pile of bricks and mortar.

Why bother????

download.jpg

Just goes to show how out of touch you are in general, KB. They have been using CD's / digitally stored music for years, not vinyl.

[grumpyoldman]

Thailand is mostly Buddhist.

A few things can be learned from this religion:

Number 1: Chainsaw is rightL Stop worrying about money.

It's accumulation has nothing to do with happiness.

Number 2: Patience is a great virtue.

Most Thais have a lot more than farangs.

That is one reason why prices don't go down.

Another idea we can learn from Thais: Live for today.

(And be glad you didn't take that trip to Nepal to hike the Annapurna circ this October)

Chainsaw:"

.....and the good news is: You're living in a tropical paradise, you have enough food to eat, a roof over your head and the sun is shining. Turn off your computer and your phone and go sit on a beach. Stop worrying about MONEY!"

Two of the best posts I've ever seen on this Forum, OP needs some perspective......

[NamKangMan]

Thailand is mostly Buddhist.

A few things can be learned from this religion:

Number 1: Chainsaw is rightL Stop worrying about money.

It's accumulation has nothing to do with happiness.

Number 2: Patience is a great virtue.

Most Thais have a lot more than farangs.

That is one reason why prices don't go down.

Another idea we can learn from Thais: Live for today.

(And be glad you didn't take that trip to Nepal to hike the Annapurna circ this October)

Chainsaw:"

.....and the good news is: You're living in a tropical paradise, you have enough food to eat, a roof over your head and the sun is shining. Turn off your computer and your phone and go sit on a beach. Stop worrying about MONEY!"

Two of the best posts I've ever seen on this Forum, OP needs some perspective......

"Two of the best posts I've ever seen on this Forum, OP needs some perspective......" - unless the OP simply wants to sell up from Phuket, and move elsewhere in Thailand.

[LivinginKata]

Offensive troll post has been removed.