Experts predict Phuket's housing market is headed for positive territory

[Goldieinkathu]

"More than 2,000 condo units were left unsold last year along with an estimated 300 houses, according to the association's research." - so why would these unsold properties suddenly start selling in the last fiscal quarter of this year and first quarter of next year????

What positive things have been implemented on Phuket to attract buyers????

The answer is nothing.Thai,s think we are more stupid than them.They think we will think that there will now be a great investment to be had.In pattaya area, there are more than 14,000 places to rent.that are empty now.Ive heard it by farangs with big idea,s.How much there condo,s are worth.4 million then when they sell 2.5 million.less actualy than they paid for it.Even now,im still hearing the same bullshit.This is what i have always said to them.Something is only worth what someone is prepared to pay.That is its value.

"Something is only worth what someone is prepared to pay.That is its value." - correct, that's called "market value" and if no one is buying, what is the value of what you have got to sell????

I don't know many people who buy a property with cash. So the situation is more what price the banks are willing to lend. This is what keeps prices higher. If the credit market is expanding and interest rates are low then people will borrow and that will create demand, hence my earlier question ' are we about to see interest rates lowered?" Most investment for many years now has been from Thai's, they are the ones that are fueling the property market, and the car market, I doubt foreigners are even part of the equation if you think about the numbers . If there has been a slow down it's because the banks are not lending and if there is to be a return to positive territory then they must be about to lend again - that's how I see it for what it's worth

[Sooo Upto Me]

The housing market is actually really healthy right now and its getting better

but only for the 1-2.5mb range

U been on the Beer Chang again? ?????????

[Felt 35]

The only hope here is that some superrich Chinese gone to buy all Phuket Island. They are well connected to the right people and have already bought Islands in the South Pacific so why not here and maybe it will be Phukets rescue.

[taxin]

The only hope here is that some superrich Chinese gone to buy all Phuket Island. They are well connected to the right people and have already bought Islands in the South Pacific so why not here and maybe it will be Phukets rescue.

Like the "connected" Chinese who were running the Tranlee Travel company ?

[Shot]

It's a buyers market. Buy, buy, buy.......bullshit.

[NamKangMan]

The only hope here is that some superrich Chinese gone to buy all Phuket Island. They are well connected to the right people and have already bought Islands in the South Pacific so why not here and maybe it will be Phukets rescue.

Like the "connected" Chinese who were running the Tranlee Travel company ?

They shut down their tourist transport operation for using Thai nominees.

How long before they turn their eyes towards their accommodation operation, and use of Thai nominees to control property here?

[Felt 35]

The only hope here is that some superrich Chinese gone to buy all Phuket Island. They are well connected to the right people and have already bought Islands in the South Pacific so why not here and maybe it will be Phukets rescue.

Like the "connected" Chinese who were running the Tranlee Travel company ?

No that`s the small guys. But its plenty of guys like this in China "Lin Dong" http://www.dailymail.co.uk/news/peoplesdaily/article-3116803/Rich-Chinese-buyers-snap-private-islands-Fiji.html and they are buying Islands, land and property where it fits them,

[taxin]

Right. So some Chinese bloke who paid $5 million for 30 uninhabited islands is going to buy Phuket ?

[Srikcir]

China will soon release GDP estimates for the 2nd quarter of 2016 with many expecting a reduction in growth from 6.7% to 6.6% (just a hair above China’s stated growth range of 6.5%-7%). A lower growth conclusion could have major global ripple effects.¹

Thailand condo market may experience one of those ripples.

¹ Global Risk Insights - The Risk Briefing, Issue 65, 11 July 2016

[NamKangMan]

Right. So some Chinese bloke who paid $5 million for 30 uninhabited islands is going to buy Phuket ?

Why would the Chinese buy Phuket when they are busy building their own islands in The South China Sea?

[LivinginKata]

Right. So some Chinese bloke who paid $5 million for 30 uninhabited islands is going to buy Phuket ?

Why would the Chinese buy Phuket when they are busy building their own islands in The South China Sea?

Sigh Sigh - a miltary base they are building. Let's get back to the Phuket Forum ....

[steelepulse]

A friend of mine sold his house a few months ago to a Chinese person for double digit millions. Lots of wealthy Chinese on the portal for rich Chinese http://www.juwai.com/ $2000 USD gets you a listing to sell your property on the site with professional translation.

[wprime]

Really .... positive territory ... more hype and spin from the real estate agents.

Maybe they should read about recent events on condo rentals ...

Don't be so negative, there have been numerous studies which show that experts are capable of predicting the future of financial markets much of the time with greater accuracy than a blindfolded monkey throwing darts at a table.

[NamKangMan]

Right. So some Chinese bloke who paid $5 million for 30 uninhabited islands is going to buy Phuket ?

Why would the Chinese buy Phuket when they are busy building their own islands in The South China Sea?

Sigh Sigh - a miltary base they are building. Let's get back to the Phuket Forum ....

Sigh Sigh - didn't you see the smiley? Have a bad day, did we?

Angeles City used to be a military base.

Edited July 15, 2016 by NamKangMan

[NamKangMan]

China will soon release GDP estimates for the 2nd quarter of 2016 with many expecting a reduction in growth from 6.7% to 6.6% (just a hair above China’s stated growth range of 6.5%-7%). A lower growth conclusion could have major global ripple effects.¹

Thailand condo market may experience one of those ripples.

¹ Global Risk Insights - The Risk Briefing, Issue 65, 11 July 2016

"Thailand condo market may experience one of those ripples." - so could the tourism industry.