Don't Count On Condo Bargains Yet

[george]

Don't count on condo bargains yet

Investors may want to take profits soon

BANGKOK: -- The condominium market might be slowing slightly but would-be buyers who are waiting for prices to fall could be in for a disappointment, says Robert Collins, managing director of the property management firm Savills (Thailand) Ltd.

Prices are unlikely to go down and even if they do drop, the slide would not start for another two years, he believes.

''It's a very, very long incubation period for a market downturn in Thailand. Even in the 1997 crisis period, it was quite a long period before developers actually started cutting prices,'' he said.

For this reason Mr Collins advises buyers to [more...]

--Bangkok Post 2006-11-13

[dsfbrit]

From this article Mr Collins advises buyers to make their purchases now if they identify a property that meets their requirements.

Hmmm... Robert Collins, managing director of the property management firm Savills (Thailand) Ltd.

says we should buy a condo now - now there is a surprise

[ThaiPauly]

From this article Mr Collins advises buyers to make their purchases now if they identify a property that meets their requirements.

Hmmm... Robert Collins, managing director of the property management firm Savills (Thailand) Ltd.

says we should buy a condo now - now there is a surprise

Surely you are not implying that "well he would say that wouldn't he" are you

Saying anything else would likely cost him his job

[percy2]

Even in the 1997 crisis period, it was quite a long period before developers actually started cutting prices

I'd like to see some evidence to support that.

My memeory of 96/97 is a little different. Then again I don't rely on my memory much these days.

Cheers

[Indifferent]

Well. For the number crunchers out there. Here's the Bank of Thailand statisitcs which paint a rosy picture of continuing trend in property.

Bank Of Thailand Real Estate Figures

Curiously, no updates since August

Lots of usefull stuff on here..Worth a bookmark on your favourites list.

[Indifferent]

Even in the 1997 crisis period, it was quite a long period before developers actually started cutting prices

I'd like to see some evidence to support that.

My memeory of 96/97 is a little different. Then again I don't rely on my memory much these days.

Cheers

Not really evidence to support it, and a little bit in danger of being off topic. But relevent to the current situation and didn't want to start another thread

Excerpt from Federal Reserve Bank of San Fransisco's Economic Letter circa '97.

Confronted with these potential costs, the Bank of Thailand (BOT, the Thai central bank) chose to resist depreciation pressures in a number of ways. The central bank purchased baht with dollars in the foreign exchange market. The BOT also raised interest rates, which increased the attractiveness of the baht and also made it more costly for speculators to borrow baht in order to sell it in foreign currency markets. Measures to restrict foreigners' access to baht also were adopted after a particularly severe episode of speculation against the baht in mid-May 1997.

Full Newsletter Here

And last weeks news release from BOT.

The Bank of Thailand has revised measures to prevent Thai Baht speculation in response to the economic and financial markets situation. The revised measures are summarized as follows:

Full Newsletter Here.

Lets watch the exports, lending rate differential and inflow and see if they learnt from thier mistakes last time. There is of course 1 huge difference between 97 and now... In 97 there was political stability.

IMHO it's not a time for panic yet. Nor is it a good time to buy. It could go either way.