Thai real estate prices to crash by 50%?

[mike324]

Many and I say many projects advertise that they are sold out or have a remain few. However from experience there is a huge project being built next to me and they advertise d that is was 90% sold when in fact only 10% were sold. False advertising is all around. Also they use this tactic to sell off the properties that aren't so good or the views not the best. Then release the better ones later. Also most developers keep many units.for themselves. So that they have high voting rights at AGMs. It's all smoke as mirrors.

Its all too common here, they will advertise sold out when in fact they only open only a certain floor for sale which is true that these floors maybe sold out. Couple months later they will open up the other floors and raise the price/sqm to create a demand for their units and get people to pay more because they keep on advertising it as sold out misleading buyers to think there are only a few units left.

One of the most heard lie I get from agents is that they tell you its all sold out. But then call you couple days later and say there is one unit available because the buyer changed to a bigger unit, or that buyer cancel their deposit. Its their sale tactic to make draw you in.

[losworld]

Of course there will be a large correction in property values. The economy is sluggish at best here and the major destinations are overbuilt. Even Thais have been borrowing and won't be able to make payments. Just look at the price of used cars in Thailand at present? You don't think the same loan default thing can happen with property? You are dreaming if you think otherwise.

[lostoday]

Of course there will be a large correction in property values. The economy is sluggish at best here and the major destinations are overbuilt. Even Thais have been borrowing and won't be able to make payments. Just look at the price of used cars in Thailand at present? You don't think the same loan default thing can happen with property? You are dreaming if you think otherwise.

What about the price of used cars? Where does one look at that data on a national level. I'm sure you are not suggesting your personal experience is a nationwide indicator.