Thai Condominium association upbeat market will pick up

By The Nation

 

The Thai Condominium Association, Thai Real Estate Association and Housing Business Association are confident that the realestate industry will pick up early this year, setting the mood for a frenzied 36th House and Condo Show. 

 

The annual event to be held from March 912 at the Queen Sirikit National Convention Centre promises to enthral visitors with an impressive array of housing projects.

 

Wichai Poolworaluk, chairman of the organising committee, said today there are positive signs – political stability, still low interest rate for home loans and revival in private investment that has boosted employment and purchasing power. 

 

Full Story: http://www.nationmultimedia.com/news/business/property/30307635

 

-- © Copyright The Nation 2017-3-1

Actually, I think this is going to be the worst year ever.

 

Cheerleaders can quote me for posterity. 

There's less corruption, loads of thai invest in real estate....so that's getting less now.

 

The baht is very strong, so forget about the farang buying.

 

The whole economy is getting a dip, not good for real estate.

 

They are building loads of new condominiums along the skytrainlines....so more offer...

 

I don't see it happening this year.

Meanwhile in another newspaper 2 weeks ago the headline reads: " LPN targets foreigners as local condo buyers dwindle"

 

A publicity beat up because of the upcoming House and Condo Show. Wishing it to be a frenzy is overly optimistic. I suspect more like tears when the curtain come down.

Nothing wrong with being optimistic, going to need it, and a sense of humour, plus a ticket out of here if you're an estate agent.

Sent from my B3-A30 using Thaivisa Connect mobile app

I'm disgusted by the crazy building going on in Phuket. It's an environmental disaster. Thousands of new condo under construction in a market that is absolutely dead. 

 

I see two large condo projects here in Kamala Beach where building has stopped for lack of sales. I hope all these investors/developers get screwed. Som nom na

 

Anyone who buys a condo in this market is out of their mind. Fire sale prices on all resales at this point, yet they continue to build.   

So let me get this straight, people building condos and people selling them are telling people who do not own a condo that now is a good time to buy one?

 

OK, moving on swiftly.

3 hours ago, Pinot said:

I'm disgusted by the crazy building going on in Phuket. It's an environmental disaster. Thousands of new condo under construction in a market that is absolutely dead. 

 

I see two large condo projects here in Kamala Beach where building has stopped for lack of sales. I hope all these investors/developers get screwed. Som nom na

 

Anyone who buys a condo in this market is out of their mind. Fire sale prices on all resales at this point, yet they continue to build.   

Slight adjustment hope you do not mind

Anyone who buys a condo here is mad

 

Last straw 

 

camel 

 

back

 

http://asia.nikkei.com/Features/FT-Confidential-Research/Chinese-capital-curbs-to-crimp-Thai-real-estate-inflows

 

 

7 hours ago, snoop1130 said:

 

The Thai Condominium Association, Thai Real Estate Association and Housing Business Association are confident that the realestate industry will pick up early this year

Garbage. 

15 hours ago, snoop1130 said:

confident that the realestate industry will pick up early this year, setting the mood for a frenzied 36th House and Condo Show. 

 

When is early in the year for Thailand? We are already in March, no signs yet.

 

Maybe the frenzied people are the desperate sellers?

We will probably be seeing pretties being employed in a real estate show for the first time...?

 

And you are free to ask why...

They could be wrong.

18 hours ago, snoop1130 said:

political stability, still low interest rate for home loans and revival in private investment that has boosted employment and purchasing power. 

Political stability really?? I guess a tapped consumer has little to do in the equation of things. I love the way they can predict a revival in private investment. Then if you drop down to the next top you get this.    Adapting Thailand 4.0 to an uncertain world Amazing Thailand. 

Edited March 2, 20179 yr by elgordo38

If people are desperate to sell, it might be a good time for me to buy.   I'm buying to live there, not purely as an investment. 

57 minutes ago, uchibenkei said:

If people are desperate to sell, it might be a good time for me to buy.   I'm buying to live there, not purely as an investment. 

Wait and look out for the stampede...

If people are desperate to sell, it might be a good time for me to buy.   I'm buying to live there, not purely as an investment. 

A lot of BS here. Go try and buy a new condo near Asoke BTS in Bangkok they have skyrocketed in price last 10 years and no end in sight!


A house in Isaan on the other hand not so good.

Lot of guys here bought in the West and have seen their rental money they live on.. Slashed dramatically again with no end in sight, many have been forced out and many more here very anxious

However unless you are are from the USA then you will have same conversion problems. People that waited are now priced out of the market!

24 minutes ago, bangkokorbust said:

 

A lot of BS here. Go try and buy a new condo near Asoke BTS in Bangkok they have skyrocketed in price last 10 years and no end in sight!


A house in Isaan on the other hand not so good.

Lot of guys here bought in the West and have seen their rental money they live on.. Slashed dramatically again with no end in sight, many have been forced out and many more here very anxious

However unless you are are from the USA then you will have same conversion problems. People that waited are now priced out of the market!

 

Priced out due to currency conversion is not due to supply and demand in the RE market, but due to the QEs of the respective governments.

 

There are an abundant of condo units in the secondary market at offer prices that are 24-30% lower than new launches, that are in difficulty finding buyers.

 

Even the resales units of these same developers priced 15-20% lower than new launches are not being sold.

 

The statement 'no end in sight' indicates the turning point of the cycle...

Priced out due to currency conversion is not due to supply and demand in the RE market, but due to the QEs of the respective governments.
 
There are an abundant of condo units in the secondary market at offer prices that are 24-30% lower than new launches, that are in difficulty finding buyers.
 
Even the resales units of these same developers priced 15-20% lower than new launches are not being sold.
 
The statement 'no end in sight' indicates the turning point of the cycle...

Not priced out just because of currency conversion.. New condos have skyrocketing in desirable areas and a baht is still a baht it's just now if you want to buy into those crazy prices it gonna cost an extra 30 % depend on the trashed currency.

The yanks are the worst position. The subprime crisis smashed the housing market! Their currency is the strongest but the smashed prices more than wipe out any advantage.

Many countries have been no end in sight but they just keep surging ,, Sydney Australia for one!

5 hours ago, uchibenkei said:

If people are desperate to sell, it might be a good time for me to buy.   I'm buying to live there, not purely as an investment. 

There simply is no reason to buy. Save your money, it's always a bad investment, whether you're going to live in it or not. 

 

I've been writing about this for quite awhile

http://www.kamalala.com/10-reasons-ill-never-buy-condo-phuket/

Meanwhile in another newspaper 2 weeks ago the headline reads: " LPN targets foreigners as local condo buyers dwindle"

 

The Thailand immigration is banned so many foreigners to come or long stay in this country, so do foreigners have confidence to buy the condominium? If the government is targeting foreigners to be the buyer then they should welcome and allow many foreigners to come in in the first place to build up the economy of Thailand.


Sent from my iPad using Thaivisa Connect

Political stability really?? I guess a tapped consumer has little to do in the equation of things. I love the way they can predict a revival in private investment. Then if you drop down to the next top you get this.    Adapting Thailand 4.0 to an uncertain world Amazing Thailand. 

Hahaha! This is what it is now, cheers


Sent from my iPad using Thaivisa Connect

There simply is no reason to buy. Save your money, it's always a bad investment, whether you're going to live in it or not. 
 
I've been writing about this for quite awhile
http://www.kamalala.com/10-reasons-ill-never-buy-condo-phuket/

You are right. Bought one 14 years ago 3 min walk Nana bts. They have tripled in sqm cost now. Funny thing every told me don't buy don't buy and bam the new condo prices exploded hahaha
Lets come back to this post in another 14 years..

Sent from my Redmi Note 3 using Thaivisa Connect mobile app

I've been looking around my local area for a condominium. I was going to buy one on the coast but having seen the prices for such small rooms had put me right off. There are plenty of smaller condo complexes all over Bangkok. I've been around 12 seperate properties already and for a large sized 2 bedroom, loungue, kitchen dining area, balcony and hallway your looking at less than 500,000 baht. For the same thing in Pattaya you'd have to pay 6 million baht. My advice is to look around. Buy cheap and then buy a car and drive to the beach.

Reporters working for newspapers or TV in Thailand and also the editors, all mostly have no credibility and they never do any real investigative journalism to see how the actual market is like, hence desperate entities wanting stupid consumers to perceive that things are ok will send out PR Releases painting that their  industry or company is doing well or will do well and the stupid reporters simply accept that as the truth and prints it. Take an actual look at every condo launch sales now, take a look at the number of people who booked and trying to sell their downpayments now cheaply as they do not have the funds or the ability to get loans to complete the transfers. See how many people online are trying to sell their properties and the discounts being offered. I have seen properties in Bangkok, Chiang Mai and Pattaya being posted over and over again the last 18 months with drastic reductions each time and yet no takers. More people are jobless or getting so deep into debts and more SMEs are collapsing. Get real....things are not going to get any better anytime soon , in fact I only see things getting worst the next 3 years especially with all the government  and the various departments new policies and worst each of these departments do not even communicate with each other and are going in different directions. PS; About LPN trying to attract foreign buyers, my advice to all after buying so many of their units at various projects as investments...stay away...there are basically Thai Slums...and the thais that stay in these cheap properties are basically garbage-like quality people. Message me, I have two years of photos, videos , complaints and even police reports against neighbours who dirty the common areas, drop dirty water from their balconies, noise pollution issues, criminal staying there, people renting out units on short term basis, etc etc

25 minutes ago, Anthony Loh said:

The Thailand immigration is banned so many foreigners to come or long stay in this country, so do foreigners have confidence to buy the condominium? If the government is targeting foreigners to be the buyer then they should welcome and allow many foreigners to come in in the first place to build up the economy of Thailand.


Sent from my iPad using Thaivisa Connect

 

The government don't really want foreigners to own property here. They only allowed foreigners to own condos when the piggy bank was empty and they have to bow to IMF's conditions after the 1997 tom-yam-gung crash.

 

LPN is a private company. They will sell to anybody, especially in desperate times.

43 minutes ago, tukkytuktuk said:

I've been looking around my local area for a condominium. I was going to buy one on the coast but having seen the prices for such small rooms had put me right off. There are plenty of smaller condo complexes all over Bangkok. I've been around 12 seperate properties already and for a large sized 2 bedroom, loungue, kitchen dining area, balcony and hallway your looking at less than 500,000 baht. For the same thing in Pattaya you'd have to pay 6 million baht. My advice is to look around. Buy cheap and then buy a car and drive to the beach.

Weird as pattaya real estate usually is cheaper then bangkok real estate.anyway i am interested in that 2 bedroom unit in bangkok for less then 500,00 where can i buy those in bangkok?

1 hour ago, bangkokorbust said:

You are right. Bought one 14 years ago 3 min walk Nana bts. They have tripled in sqm cost now. Funny thing every told me don't buy don't buy and bam the new condo prices exploded hahaha
Lets come back to this post in another 14 years..

Sent from my Redmi Note 3 using Thaivisa Connect mobile app
 

Sorry bad news but your unit did not tripple in value over the last 14 years.Keep on dreaming.

I rented a condo in phuket for a few months. One of the sansari group condos. Man i am so glad i am not a owner. 

I have been the only tenent on my floor. Thank god. My building might have 10 occupants out of 70 units.its been here 2 years or longer.

The design is horrific. All 7 floors are open to eachother. So i hear every person in my building in the hallways.

Its so bad.

If it were full it would be like living in prison.

No thanks never again .condo living is like a prison.  My lease is up and i am out of here.