More restrictions in the future on foreign property ownership?

[trogers]

Is there a common perception among locals that rising asking prices of property is caused by unbridled demand from foreigners?

 

 

[Peterw42]

What about the land office publishing the actual sales prices, shut down the false asking prices.

The myth of property values in Thailand is perpetuated by unrealistic asking prices, and little to no information on actual selling prices.  

[trogers]

1 hour ago, Peterw42 said:

What about the land office publishing the actual sales prices, shut down the false asking prices.

The myth of property values in Thailand is perpetuated by unrealistic asking prices, and little to no information on actual selling prices.  

You are asking the government to make all developers and their supporting bankers bare all and streak naked?

[chiang mai]

What's the source of the chart?

[trogers]

9 minutes ago, chiang mai said:

What's the source of the chart?

DDproperty.

[chiang mai]

5 minutes ago, trogers said:

DDproperty.

 

So I guess it was a poll, difficult to know what to think without knowing the number of people who voted. But clearly the cost of property is the issue and it looks to me as though the role of the foreigner in all of that is an after thought, I mean, the price of property is set by either the builder/developer or the price  buyers are willing to pay and it couldn't possibly be a Thai problem, could it!

Edited February 8, 2017 by chiang mai

[trogers]

3 minutes ago, chiang mai said:

 

So I guess it was a poll, difficult to know what to think without knowing the number of people who voted. But clearly the cost of property is the issue and it looks to me as though the role of the foreigner in all of that is an after thought, I mean, the price of property is set by either the builder/developer or the price  buyers are willing to pay and it couldn't possibly be a Thai problem, could it!

Foreigners are part of the demand equation with limit at 49%.

 

The link to the article:

 

http://www.ddproperty.com/th/ข่าวอสังหาริมทรัพย์-บทความ/2017/2/145712/consumers-say-they-do-not-benefit-from-government/?utm_source=pgth-newsalert&utm_medium=edm&utm_campaign=dailynews-02Feb2017&utm_content=links

[chiang mai]

4 minutes ago, trogers said:

Foreigners are part of the demand equation with limit at 49%.

 

The link to the article:

 

http://www.ddproperty.com/th/ข่าวอสังหาริมทรัพย์-บทความ/2017/2/145712/consumers-say-they-do-not-benefit-from-government/?utm_source=pgth-newsalert&utm_medium=edm&utm_campaign=dailynews-02Feb2017&utm_content=links

The problem isn't unique to Thailand it's a global problem and it's not understood well by many, especially by Thai's. The problem is money chasing a return and black money seeking a home, I suppose foreigners are to blame for much of the latter.

[trogers]

2 minutes ago, chiang mai said:

The problem isn't unique to Thailand it's a global problem and it's not understood well by many, especially by Thai's. The problem is money chasing a return and black money seeking a home, I suppose foreigners are to blame for much of the latter.

One of the first restrictions might be a minimum price of property like the one imposed in Malaysia.

[chiang mai]

Just now, trogers said:

One of the first restrictions might be a minimum price of property like the one imposed in Malaysia.

 

Possibly, although that's likely to push the proxy ownership market into overdrive. Plus we've already got the Land Office making foreign husbands sign away their rights to houses when purchased by the wife and that hasn't reduced prices any.

[funandsuninbangkok]

Real estate market in Thailand has seized up. Very few new purchases now. 

 

2nd hand properties prices have dropped 30 % in last year but have more to go. 

 

New projects will will just stop and rot like before. Banks will roll over debt to save face. 

 

Six months from now grab spear and start bottom fishing with cash. 

[blackcab]

11 hours ago, Peterw42 said:

What about the land office publishing the actual sales prices, shut down the false asking prices.

The myth of property values in Thailand is perpetuated by unrealistic asking prices, and little to no information on actual selling prices.  

 

The problem is the land office often doesn't know the real sale price. All they know is the declared sale price.

 

There can be an awful lot of difference between the two prices, ie. Declared at 4 million, but really sold for 9 million.