Property Prices Dropping

[kangeroo]

Hello there.

Drove around pattaya i havent seen anything yet that that would not drop in price after 7 years , houses in thailand only last 15 years before big money is needed to be spent .

Invest your money at a safe 8 or 9 persent and rent ,

.

[pap]

I am sorry the cream of English and America society come to invest in Pattaya.

You are poor soul with a pee brain. What does this mean ?

More and more people from Europe are selling retirement homes in places like France and Spain and moving out to Thailand, including Pattaya.

Pattaya is a changing town, now today, there are retired western couples living and moving out to Pattaya to live as the cost of living is cheaper than that of the west.

These western couples are renting and buying property. On the estate where I live in Jomtein total of 95 house’s, 6 are either owned or rented by western couples.

3 years ago there were only Thais, or Western men with Thai partners.

The amount of people coming to Thailand to retire has and is further to increase over the immediate future. I cannot see how a price reduction will take place, even with the 12 million bracket condo and house market. Supply and demand, more and more people buy or rent, create a demand.

View Talay sold condos in Jomtein 3-4 years ago for 500,000bht per unit, presently the same style unit for sale by View Talay (under construction) in Pattaya 2,500,000bht a 5 fold increase. From western standards this is still cheap. Further more, as prices over the long term increase in the west, so they will in holiday resorts like Pattaya.

With the housing market, you’re either in or your out, you either can win or lose, or simple not win, its down to the individual. Henry B, I presume that you’re out. Well next time your in town let me know as I can help you find a great place to rent.

Its fairly simply how the market will go down. Housing markets do not function in a bubble. It is their nature to go up and go down. It all depends on the time frame you look at.

The vast majority of properties are owned by Thais. Even in Pattaya. When economies suffer eventually so do housing markets. Expect this hot market to cool and retract. Because if you don't you are not paying attention to simple economic facts. Times are not always good and they are not always bad.

One thing is for sure....there wont be anymore land so long term if you can actually keep your property it is more likely than not it will go up. This has been the norm on a global scale. There are micro economics that can come into play but they can only buck the economics of a country for so long on their own.

Thats why many big players that can be on the sideline at the moment are.

[dsfbrit]

Hello there.

Drove around pattaya i havent seen anything yet that that would not drop in price after 7 years , houses in thailand only last 15 years before big money is needed to be spent .

Invest your money at a safe 8 or 9 persent and rent ,

.

I have a house 10 km outside Pattaya. There are now 5 houses up for sale around here and yet unsold. They have been on sale for varying lengths of time ranging from 9 months to 2 weeks.

There is also a house that has been advertised available for rent for 2 months now - still unoccupied.

It could be where I live is undesirable so is not representative of Pattaya 'centre', but as I, like most people, tend to rely heavily on personal experiences to affect my thinking - it does not fill me with optimism for the immediate future I have to say!

So sadly kangaoo - at least for the foreseeable future until the new visa regs and farang land ownership issues are resolved - you may be right about renting!

Edited November 11, 2006 by dsfbrit

[rocky]

I am sorry the cream of English and America society come to invest in Pattaya.

You are poor soul with a pee brain. What does this mean ?

More and more people from Europe are selling retirement homes in places like France and Spain and moving out to Thailand, including Pattaya.

Pattaya is a changing town, now today, there are retired western couples living and moving out to Pattaya to live as the cost of living is cheaper than that of the west.

These western couples are renting and buying property. On the estate where I live in Jomtein total of 95 house’s, 6 are either owned or rented by western couples.

3 years ago there were only Thais, or Western men with Thai partners.

The amount of people coming to Thailand to retire has and is further to increase over the immediate future. I cannot see how a price reduction will take place, even with the 12 million bracket condo and house market. Supply and demand, more and more people buy or rent, create a demand.

View Talay sold condos in Jomtein 3-4 years ago for 500,000bht per unit, presently the same style unit for sale by View Talay (under construction) in Pattaya 2,500,000bht a 5 fold increase. From western standards this is still cheap. Further more, as prices over the long term increase in the west, so they will in holiday resorts like Pattaya.

With the housing market, you’re either in or your out, you either can win or lose, or simple not win, its down to the individual. Henry B, I presume that you’re out. Well next time your in town let me know as I can help you find a great place to rent.

Load of <deleted>.

Which part is inaccurate, I agree that certain houses are for sale and have been for some time, that is why location location location is so important, Past Suckumviet road land reaches all the way though Thailand and dosent stop. But the land situated nearer the beach is different,

There are thousands of s-holes unsold everywhere around Pattaya.

View Talay, probably 100 per Stallin era project, 3-4 thousands of rabbit holes sitting and waiting for a naive byer. All listed, never seen one sold.

You are suggesting that none or very few of the View Talays have been purchased, Go and visit one of the sites, any one, all have the same story, very popular residence with Thais, Western men with Thai Partner and Western couples.[/color]

A byer need not be naive - could be an alcoholic sheet metal worker who made 30-40K US$ in life savings, after supporting his habbit and tatoos...they can do that.

What does that mean ?

If fell that low in my life, I might join the team.

So do you own a property here in Thailand Yes or no,

Replys in blue above,

[thaigene2]

Be patient, it'll really drop after January when farangs have to go home

Spot on Nam Kao. But I'll bet a lot of posters don't know what you're talking about. Maybe you should explain the effect of these coming ghost town rules..

TG2

[lindegaard]

Hello there.

Drove around pattaya i havent seen anything yet that that would not drop in price after 7 years , houses in thailand only last 15 years before big money is needed to be spent .

Invest your money at a safe 8 or 9 persent and rent ,

.

what exactly would be a safe investment of 8-9 percent?? just asking out of pure interest..

[lannarebirth]

Be patient, it'll really drop after January when farangs have to go home

Spot on Nam Kao. But I'll bet a lot of posters don't know what you're talking about. Maybe you should explain the effect of these coming ghost town rules..

TG2

Please do explain, as I'm one of those that have no idea what he means.

[Indifferent]

This makes interesting reading.

Garrison Property Cycle

In particular Stage 3....The bit about local and state governments......Sound familiar?

Edited November 11, 2006 by Indifferent

[jumnien]

This makes interesting reading.

Garrison Property Cycle

In particular Stage 3....The bit about local and state governments......Sound familiar?

Interesting website - I think the section on the Fifth Migration explains clearly the rising property values that most likely will continue to rise. Massive Farang migration to Thailand. Ten years ago and before one would be a bit "odd" to be migrating to Thailand. Small numbers of farangs working for large companies and of course the skirt chasers. Moving to Thailand was attractive to perhaps one percent of farangs in any Western country.

Today, perhaps 10 % of the population of many Scandinavian countries would be interested in migrating to Thailand. This is just the first wave of many to come, there is now a critical mass that makes it not exotic or weird to live here anymore, it's very comfortable. Forget Chinese, if my boy is going to succeed here in Huahin, I think it's best he speak of bit of Swedish language!

[Digger]

Some of these comments are why I no longer spend much time on Thaivisa.com - I just get so bored reading through stupid comments from people who sprout that they know things when its obvious to anyone that they know the best part of nothing.

Simple facts are that Pattaya is continuing to grow at a very fast rate and its continuing to attract more high net worth people than ever before. The growth is taking place all over the city - condo's ARE being sold to owner occupiers with purchase prices between 3-20,000,000 baht. Houses have been sold with values way over 12,000,000 baht etc etc. From what I can see, there is a very little in the way of 'corrections' taking place - if the property was crap - it will still not sell, as it has not sold for the last 5 years of the 'boom'. I have seen 'speculative' developers getting burnt as they are either under resourced, under skilled or a combination of both and for the most part these guys are going to decide the 'legal' structure of a developer is not for them and probably cut their losses and do something else like open a bar or whatever is the next in 'fad' of an idea.

But if you look at foreigners who have developed sound business plans, ideas and have adequate funding, they continue to do VERY well in Pattaya. I can think of numerous housing estates that are delivering totally high end products and they are completely full (in particular one that rents all the properties to the high end expats that Suiging was talking about) and these places are relatively very expensive to the market norm. How are they achieving this - probably no different to anywhere else, they have an excellent product, its very well maintained and the service delivery works. Its the same with premium grade condo's - they are all continuing to sell - that is the reality of the marketplace these days - forget Soi Bukhow and all the 49baht beer drinkers - they have never been shaping how this city develops - they are just tolerated. If you cant see that, then you need to wake up and move on. Just last week I was looking at another website where some guy was boasting about his 69 baht full English Breakfast on Soi bukhow - good luck to him as he was saying how his volume has doubled in as many weeks - but the reality is if the only thing you can sell on is price, you really need to go back to business school as this place is unlikely to be around in 12-18 months. I guess thats why so many people fail in business in this country as they have no understanding of actually operating a real business and making money. He is going to be stuck in the Crazy Dave situation that he basically can NEVER lift his prices, as all his customers will go - a fact that I think will hit home when he realises that 69b for a full English breakfast is totally uneconomic yet all he is probably thinking is that the component ingrediants add up to say 49b so selling at 69b = 20 baht profit on everyone sold. If his breakfast is so good, why is he not selling it for 120 baht which is the average market price in the area???? Begs the question how good are his business skills.

And to the original poster, if you can pick up a house for about 6,000,000 baht down from 12,000,000 seriously ask yourself why its being sold at 6,000,000 baht.

[Naam]

"Some of these comments are why I no longer spend much time on Thaivisa.com - I just get so bored reading through stupid comments from people who sprout that they know things when its obvious to anyone that they know the best part of nothing."

*****

c'mon Digger! where else can you derive more valuable information for less money than on Thaivisa.com reading the comments in most interesting threads? e.g. i just love threads like "good thai food for 30 baht" or "safe investment yielding 8-9%".

however... i am still looking for a thread "how to lead a luxurious life in thailand spending $2.99 a day".

[Steph1012]

Some of these comments are why I no longer spend much time on Thaivisa.com - I just get so bored reading through stupid comments from people who sprout that they know things when its obvious to anyone that they know the best part of nothing.

Simple facts are that Pattaya is continuing to grow at a very fast rate and its continuing to attract more high net worth people than ever before. The growth is taking place all over the city - condo's ARE being sold to owner occupiers with purchase prices between 3-20,000,000 baht. Houses have been sold with values way over 12,000,000 baht etc etc. From what I can see, there is a very little in the way of 'corrections' taking place - if the property was crap - it will still not sell, as it has not sold for the last 5 years of the 'boom'. I have seen 'speculative' developers getting burnt as they are either under resourced, under skilled or a combination of both and for the most part these guys are going to decide the 'legal' structure of a developer is not for them and probably cut their losses and do something else like open a bar or whatever is the next in 'fad' of an idea.

But if you look at foreigners who have developed sound business plans, ideas and have adequate funding, they continue to do VERY well in Pattaya. I can think of numerous housing estates that are delivering totally high end products and they are completely full (in particular one that rents all the properties to the high end expats that Suiging was talking about) and these places are relatively very expensive to the market norm. How are they achieving this - probably no different to anywhere else, they have an excellent product, its very well maintained and the service delivery works. Its the same with premium grade condo's - they are all continuing to sell - that is the reality of the marketplace these days - forget Soi Bukhow and all the 49baht beer drinkers - they have never been shaping how this city develops - they are just tolerated. If you cant see that, then you need to wake up and move on. Just last week I was looking at another website where some guy was boasting about his 69 baht full English Breakfast on Soi bukhow - good luck to him as he was saying how his volume has doubled in as many weeks - but the reality is if the only thing you can sell on is price, you really need to go back to business school as this place is unlikely to be around in 12-18 months. I guess thats why so many people fail in business in this country as they have no understanding of actually operating a real business and making money. He is going to be stuck in the Crazy Dave situation that he basically can NEVER lift his prices, as all his customers will go - a fact that I think will hit home when he realises that 69b for a full English breakfast is totally uneconomic yet all he is probably thinking is that the component ingrediants add up to say 49b so selling at 69b = 20 baht profit on everyone sold. If his breakfast is so good, why is he not selling it for 120 baht which is the average market price in the area???? Begs the question how good are his business skills.

And to the original poster, if you can pick up a house for about 6,000,000 baht down from 12,000,000 seriously ask yourself why its being sold at 6,000,000 baht.

Digger is just on here talking the market up in a bid to stop it imploding.

Most of the completions of sales now were initiated before all the visa, coup, strong baht effects. The money is drying up but will take a while to be felt in the pocket.

You should go back to business school as well. If you can attract people to your restaurant with a 69baht breakfast and double the numbers, you have customers on your premises to whom you could sell other items, tours, diving, visa runs, beers, morning coffees. If nothing else you have expanded your customer base and very probably made some friends along the way. Just one of these new friends could lead to a whole new opportunity, as they often do. We have little invested here individually and will not be hurt too hard by any changes in laws.

In contrast to fat failing developers who everybody hates and will be glad to see the back of when their "Consultants" workpermits are cancelled next time round. They are the ones that have blatently cheated the system, from fraudulent work permit descriptions, dodgy company/land ownership companies, encroachment, environmental pollution, inflated building costs and corruption.

We have had three major developments raided this week in Phuket alone. The powers that be in Bangkok are now using Google Earth type software from the safety of their desks (immune from attmepts to pay them off) to identify who is building or has built on illegal land, too high up etc. This next year or so its going to be squeal piggy developer squeal.

We get people like Digger on all the time. There have been at least three threads blatently from developers bullshitting the market up. All IMHO of course!

Edited November 12, 2006 by Steph1012

[chownah]

I don't read all the posts here but I'm just wondering if those who say prices ahve dropped could give some actual price changes for actual properties? That would be interesting.

Chownah

[Steph1012]

I don't read all the posts here but I'm just wondering if those who say prices ahve dropped could give some actual price changes for actual properties? That would be interesting.

Chownah

Well Mr Farmer. Being a property owner (G/F Land me house) for over 7 years now, I pay great attention to house prices and check out a lot of the property being sold over here. I'm not sad enough to trawl the old copies of the post and compare prices, but its a big community here and we all talk a lot about this subject.

All the developers on the Island are waiving or halving their sign up fee. Ask any of the developers that have recently set up in Central, Big C and Tesco this past month. Never seen so many of em, they are every where now.

Also, my house valuation dropped of 1 million baht between me applying for a loan in May, and re-applying for it when I came back from Germany last month. Thats 7 mill now down from 8 in May, same company, no vested interest, no sale intended (just security for the loan)

Last time we had this thread in October there were 769 property adds in the phuket gazette there are now 893 an Increase of 124 or over 15%. you really think this would be happening in a rising market?

Theres an air of desperation about the place on the sellers side.

It would be f*(^**g incredible if any of you lot could name one unsold property where the price has been raised recently or where a seller has pulled out of a sale as the property value has risen and he wants to put it on at a higher price. This is a common practice when house prices are rising.

Edited November 12, 2006 by Steph1012

[Digger]

Some of these comments are why I no longer spend much time on Thaivisa.com - I just get so bored reading through stupid comments from people who sprout that they know things when its obvious to anyone that they know the best part of nothing.

Simple facts are that Pattaya is continuing to grow at a very fast rate and its continuing to attract more high net worth people than ever before. The growth is taking place all over the city - condo's ARE being sold to owner occupiers with purchase prices between 3-20,000,000 baht. Houses have been sold with values way over 12,000,000 baht etc etc. From what I can see, there is a very little in the way of 'corrections' taking place - if the property was crap - it will still not sell, as it has not sold for the last 5 years of the 'boom'. I have seen 'speculative' developers getting burnt as they are either under resourced, under skilled or a combination of both and for the most part these guys are going to decide the 'legal' structure of a developer is not for them and probably cut their losses and do something else like open a bar or whatever is the next in 'fad' of an idea.

But if you look at foreigners who have developed sound business plans, ideas and have adequate funding, they continue to do VERY well in Pattaya. I can think of numerous housing estates that are delivering totally high end products and they are completely full (in particular one that rents all the properties to the high end expats that Suiging was talking about) and these places are relatively very expensive to the market norm. How are they achieving this - probably no different to anywhere else, they have an excellent product, its very well maintained and the service delivery works. Its the same with premium grade condo's - they are all continuing to sell - that is the reality of the marketplace these days - forget Soi Bukhow and all the 49baht beer drinkers - they have never been shaping how this city develops - they are just tolerated. If you cant see that, then you need to wake up and move on. Just last week I was looking at another website where some guy was boasting about his 69 baht full English Breakfast on Soi bukhow - good luck to him as he was saying how his volume has doubled in as many weeks - but the reality is if the only thing you can sell on is price, you really need to go back to business school as this place is unlikely to be around in 12-18 months. I guess thats why so many people fail in business in this country as they have no understanding of actually operating a real business and making money. He is going to be stuck in the Crazy Dave situation that he basically can NEVER lift his prices, as all his customers will go - a fact that I think will hit home when he realises that 69b for a full English breakfast is totally uneconomic yet all he is probably thinking is that the component ingrediants add up to say 49b so selling at 69b = 20 baht profit on everyone sold. If his breakfast is so good, why is he not selling it for 120 baht which is the average market price in the area???? Begs the question how good are his business skills.

And to the original poster, if you can pick up a house for about 6,000,000 baht down from 12,000,000 seriously ask yourself why its being sold at 6,000,000 baht.

Digger is just on here talking the market up in a bid to stop it imploding.

Most of the completions of sales now were initiated before all the visa, coup, strong baht effects. The money is drying up but will take a while to be felt in the pocket.

You should go back to business school as well. If you can attract people to your restaurant with a 69baht breakfast and double the numbers, you have customers on your premises to whom you could sell other items, tours, diving, visa runs, beers, morning coffees. If nothing else you have expanded your customer base and very probably made some friends along the way. Just one of these new friends could lead to a whole new opportunity, as they often do. We have little invested here individually and will not be hurt too hard by any changes in laws.

In contrast to fat failing developers who everybody hates and will be glad to see the back of when their "Consultants" workpermits are cancelled next time round. They are the ones that have blatently cheated the system, from fraudulent work permit descriptions, dodgy company/land ownership companies, encroachment, environmental pollution, inflated building costs and corruption.

We have had three major developments raided this week in Phuket alone. The powers that be in Bangkok are now using Google Earth type software from the safety of their desks (immune from attmepts to pay them off) to identify who is building or has built on illegal land, too high up etc. This next year or so its going to be squeal piggy developer squeal.

We get people like Digger on all the time. There have been at least three threads blatently from developers bullshitting the market up. All IMHO of course!

Why do you think I am talking the market up? I have no reason to do so - I am just responding to the real situation in Pattaya which is what I know as I have a house here where I spend the weekend. It makes no difference to me if the market implodes - I am not planning on selling my house here. But the simple fact is that PATTAYA (not Phuket) continues to grow and evolve - that is a simple fact that many seem unable to comprehend. Sure the bottom rung of cheap drinkers and pussy mongers will rant and rave but seriously there are a whole new set of people moving into and around Pattaya - its obvious to see for anybody with half a brain cell. These people are not going to the types who do visa runs - they are way too intelligent to have other solutions in hand. I have no problem with rogue developers getting their cards marked - overall I think its a good thing - but I have no recent experience of Phuket - its purely Pattaya that I am commenting on which is the subject of this thread.

Finally your comment about the restaurant is typical of people who have no idea of running a profitable business in Thailand. A business is in business to make money - its not in business to provide a service or drop in place for whoever wants to do so. This whole debacle about friends is ridiculous - they are not friends they are customers who are fickle and for the most part unloyal if all you can sell on is price and a price which is uneconomic - the simple truth is that business does not suceed on turnover or goodwill - it is totally dependant upon cash and profit which is a scenario I think our friend will find all to soon with his 69 baht breakfasts, providing of course, the VAT man does not close him down first or immigration police deport him for not having a work permit. The idea that a restaurant can suddenly become a travel agency is laughable and shows a serious case of clutching at straws to try and survive day to day. These guys are seen time and time again, but the simple reality is that you cannot build a profitable business on selling things below your costs.

[womble]

Personally I have seen no evidence of these supposed (imagined?) drops in property prices. What I have seen is the odd bargain that has gone discounted because the owner has got cold feet and wants to get their $ out of Thailand.

But on the most part prices are stable, not growing , but not falling eigher.

This is actually probobally a good thing as a bubble was forming.

I think a lot of people will be holding back for 60 days to see what the government do about foriegn ownership, the results of that will have a large impact on certain areas.

[dsfbrit]

... The growth is taking place all over the city - condo's ARE being sold to owner occupiers with purchase prices between 3-20,000,000 baht. Houses have been sold with values way over 12,000,000 baht etc etc.

Do you know how they are they buying the land component of these houses?

- Lease from the developer

- Lease from a Thai

- the 'dreaded' company route

Edited November 12, 2006 by dsfbrit

[dsfbrit]

I think a lot of people will be holding back for 60 days to see what the government do about foriegn ownership, the results of that will have a large impact on certain areas.

And there Womble, I think you have a major component in all this. Many people are just waiting to see what results come of this (if any) in the New Year.

Lets face it, many new houses being moved into recently were started to be built before the land law enforcement news came out in May.

Coincidentally the changes to the visa rules really 'kick in' then as well as 90 days after the 1st October.

Interesting times indeed.

[dsfbrit]

Also, my house valuation dropped of 1 million baht between me applying for a loan in May, and re-applying for it when I came back from Germany last month. Thats 7 mill now down from 8 in May, same company, no vested interest, no sale intended (just security for the loan)

As you can see from earlier post on this thread, houses around here are not selling either.

I know of one house that went on the market about 8 months ago, just before the land enforcement news in May. It went on for 7.5 mill baht.

He then reduced the price to 6.9 mill baht.

I dont know what its posted at now, I didn't like to ask him.

I have no idea why its not selling - maybe its due to no other reason than it was overpriced in the first place?

Edited November 12, 2006 by dsfbrit

[suiging]

People who bought here before the uncertainty were either speculators or folk who love the place and wished for a place in the sun with many fine facilities for a peaceful retirement.

I have never read so many " chicken little " posts, from so many folk who obviously enjoy their time in the LOS.

Money talks in Asia. The Thais are doing many things vis-a-vis visas and the like which the non-speculator love the place brigade, if their honest, probably agree with. As for property, what is ruining the lovely Pong, is crap builders building crap and telling down right lies to newbies who often fall for the spiel. If these types are forced from the market, I'll open the wine.

Time will tell what the real plans of this administration are; do they wish to kill the " Golden Goose " of foreign investment ? Your guess as good as mine, however, back to point one; money talks in Asia, when the political posturing stops, clear heads will prevail.

Chin up lads, the world has not fallen yet.

[Steph1012]

Finally your comment about the restaurant is typical of people who have no idea of running a profitable business in Thailand. A business is in business to make money - its not in business to provide a service or drop in place for whoever wants to do so. This whole debacle about friends is ridiculous - they are not friends they are customers who are fickle and for the most part unloyal if all you can sell on is price and a price which is uneconomic - the simple truth is that business does not suceed on turnover or goodwill - it is totally dependant upon cash and profit which is a scenario I think our friend will find all to soon with his 69 baht breakfasts, providing of course, the VAT man does not close him down first or immigration police deport him for not having a work permit. The idea that a restaurant can suddenly become a travel agency is laughable and shows a serious case of clutching at straws to try and survive day to day. These guys are seen time and time again, but the simple reality is that you cannot build a profitable business on selling things below your costs.

Sad to here this view. Many people here use the business as a lifestyle and a pleasant way to spend their lives. Socialising, mixing with people and generally getting away from the big business mentality that drove many of us out of the west years ago. The idea being not to make a fortune, just make the pension or offshore income go a bit further and perhaps given the wifes family a chance to make what is for them a large sum of money. 69baht is more than a days wage for many in Pattaya!

Don't know if you live in Thailand or not, but every place I have ever eaten in could sell me a Tour, Visa run, Taxi to airport, find me a room and pocket the commission. I am struggling to think of any place I could go to and not be able to buy a trip VISA run or booking.

Overhear a customer talking about a Dive Trip and you could be in for a 1,000 baht comission at the very least 2,500 - 6,000 baht per 5 day dive safari trip is the norm... Try it! A lot of us poorer and retired people are just happy with life and I doubt if any of us will keel over from stress related heart attacks. Unlike over exposed property developers with lots of land on their hands.

In a business sense the 69 baht breakfast could be classified as a Loss Leader, from my memory of business college.

Edited November 12, 2006 by Steph1012

[dsfbrit]

Most of the completions of sales now were initiated before all the visa, coup, strong baht effects.

I agree with this.

I would also add the land ownership issue to your list.

Its why its so difficult to know whats really going on with the property market in Thailand.

To be honest, I dont think I would be able to tell what was going on with the property market even without all these distractions you mention.

I do know that earlier this year I had no interest in the property market news at all - not an issue for me. Now however I log on to TV each day to see what is going on with both property and visa issues.

Not part of my vision when I planned my retirement to the LOS

Oh well - off to the Visa section of TV now to see what has changed there today!

Then off to the beach and do something more sensible than think about stuff like this!

Have a good day TV forum people!

[chownah]

I was hoping to get some actual cases of price being reduced. If the trend is so obvious I would have thought that there would be lots of posts telling about these. I'm beginning to wonder if prices actually have dropped or if the market has simply slowed down. It might be true that in the US if the market slows down then prices will drop but I have noticed that in Thailand this is not always the case and people are willing to hold their prices up for a long time while waiting for the economy to eventually catch up to their expectations....as evidence of this look at how disproportionately small the price drops were in the 1997 melt down and how banks didn't lower prices to dispose of overpriced properties but held on to them until prices recovered somewhat. Also, don't forget that a seller can advertise a lower price and someone might think that they can get the property cheaper than before but in fact all that the owner is doing is disclosing the pre price drop bargaining allowance and putting it on the table and when you try to negotiate a lower price after the reduction the owner will just moan about having to lower the price already and can't go lower.....just some thoughts.

Chownah

[suiging]

I was hoping to get some actual cases of price being reduced. If the trend is so obvious I would have thought that there would be lots of posts telling about these. I'm beginning to wonder if prices actually have dropped or if the market has simply slowed down. It might be true that in the US if the market slows down then prices will drop but I have noticed that in Thailand this is not always the case and people are willing to hold their prices up for a long time while waiting for the economy to eventually catch up to their expectations....as evidence of this look at how disproportionately small the price drops were in the 1997 melt down and how banks didn't lower prices to dispose of overpriced properties but held on to them until prices recovered somewhat. Also, don't forget that a seller can advertise a lower price and someone might think that they can get the property cheaper than before but in fact all that the owner is doing is disclosing the pre price drop bargaining allowance and putting it on the table and when you try to negotiate a lower price after the reduction the owner will just moan about having to lower the price already and can't go lower.....just some thoughts.

Chownah

Only folk lowering their price at the moment are those that have no option but to sell. No one is buying, but the great game of wait and see is being played by all.

[pap]

I was hoping to get some actual cases of price being reduced. If the trend is so obvious I would have thought that there would be lots of posts telling about these. I'm beginning to wonder if prices actually have dropped or if the market has simply slowed down. It might be true that in the US if the market slows down then prices will drop but I have noticed that in Thailand this is not always the case and people are willing to hold their prices up for a long time while waiting for the economy to eventually catch up to their expectations....as evidence of this look at how disproportionately small the price drops were in the 1997 melt down and how banks didn't lower prices to dispose of overpriced properties but held on to them until prices recovered somewhat. Also, don't forget that a seller can advertise a lower price and someone might think that they can get the property cheaper than before but in fact all that the owner is doing is disclosing the pre price drop bargaining allowance and putting it on the table and when you try to negotiate a lower price after the reduction the owner will just moan about having to lower the price already and can't go lower.....just some thoughts.

Chownah

You could ask the opposite question and see if any proof of price escalation is occuring. I think you will get just as much factual evidence with that question as you have with the question you asked.

I have seen the same square meter condo's in some of the area's I am familiar with remain the same on pricing when they come online as they were 6 months ago. I have not noted a drop but in effect but I have definitely seen no new price increases. Generally this means you are not selling them as quick as they come on line. I don't know about housing prices since I don't track those.