It's official - Thai real estate bubble pops.

[mstevens]

Another thread taken off topic and ruined by two personalities bickering.....

[trogers]

1 minute ago, mstevens said:

Another thread taken off topic and ruined by two personalities bickering.....

Difficult to avoid when one personality views this OP (It's official - Thai real estate bubble pops) is outside the definition of this forum section.

[hugh mckee]

12 minutes ago, trogers said:

Difficult to avoid when one personality views this OP (It's official - Thai real estate bubble pops) is outside the definition of this forum section.

I've made my point, all this talk of investment and making money and being justified by any negative news story they can find and at the same time ignoring the recent governor of the bank of thailand's comments on the very subject

 

I come on here to find people like myself in the process of buying in thailand which is what this section is about, instead i find guys like trogers advising people not to buy, forgive me for being a little confused

Edited December 15, 2017 by hugh mckee

[trogers]

3 minutes ago, hugh mckee said:

I've made my point, all this talk of investment and making money and being justified by any negative news story they can find and at the same time ignoring the recent governor of the bank of thailand.

 

I come on here to find people like myself in the process of buying in thailand which is what this section is about, instead i find guys like trogers advising people not to buy, forgive me for being a little confused

You came on here a little late. If you only came here in 2009. I sang a different tune then, as I should be, at that point in the property cycle.

[hugh mckee]

11 minutes ago, trogers said:

You came on here a little late. If you only came here in 2009. I sang a different tune then, as I should be, at that point in the property cycle.

you are not Yoda,

 

life events have a big part of dictating when you make a holiday home purchase

 

you still have no clue for certain nobody does, not even the bank governor, all speculation and opinions,

 

you have no clue what negotiating a prospective buyer is doing with the developer to say you shouldn't be buying is just wrong on so many levels

[trogers]

3 minutes ago, hugh mckee said:

you are not Yoda,

 

life events have a big part of dictating when you make a holiday home purchase

 

you still have no clue for certain nobody does, not even the bank governor, all speculation and opinions,

 

you have no clue what negotiating a prospective buyer is doing with the developer to say you shouldn't be buying is just wrong on so many levels

I didn't need to be Yoda to cash out before the sub-prime fiasco and acquire my condos here in 2007-8.

[hugh mckee]

32 minutes ago, trogers said:

I didn't need to be Yoda to cash out before the sub-prime fiasco and acquire my condos here in 2007-8.

I don't care, that's your business, how much money you have means absolutely nothing to me, I don't know you, will never meet you, to me you are nothing, you're boasting is lost on me.

 

I'm on this forum looking for people in similar situation to myself, purchasing a condo in thailand, not some know it all, arrogant serial poster who likes to boast about how much money he has which impresses no one and is a poor reflection on you

[trogers]

4 minutes ago, hugh mckee said:

I don't care, that's your business, how much money you have means absolutely nothing to me, I don't know you, will never meet you, to me you are nothing, you're boasting is lost on me.

 

I'm on this forum looking for people in similar situation to myself, purchasing a condo in thailand, not some know it all, arrogant serial poster who likes to boast about how much money he has which impresses no one and is a poor reflection on you

Just telling you I don't need the Force. Just a little observation, analysis and much reading to anticipate the market trends.

[robertthebruce]

 

All I can say is I am so so glad I eventually sold my Condo...

 

100 Percent Positive would never buy again  in Thailand....

 

Too Risky........

 

but thats me, ...everyone is different......

 

 

[hugh mckee]

8 minutes ago, robertthebruce said:

 

All I can say is I am so so glad I eventually sold my Condo...

 

100 Percent Positive would never buy again  in Thailand....

 

Too Risky........

 

but thats me, ...everyone is different......

 

 

why? and I'm a fellow Scot, my question is genuine

 

isn't any purchase got an element of risk wherever you are buying?

Edited December 15, 2017 by hugh mckee

[chrisandsu]

21 minutes ago, hugh mckee said:

no he doesn't Su

 

are you suggesting that everyone else except me is so well behaved and sensible on here Su?

 

I've never read so much negative stuff and nastiness towards Thailand and it's people as is on this forum

and if you regulars back each other up I could care less, a lot of the posters on here it's surprising they're in Thailand

as they have only got nasty words to write about the country, some of it bordering on racism.

 

next time you have a pop at me Su, read what some of your internet friends are writing on here first before you make

your snide comments

 

There is a few of us here who have owned properties in Thailand but got burnt, its up to you to take the advise or not ? Condos in Thailand in my opinion are not being built to live in but to compete against hotels .

1-do you want to live in a hotel that will be unoccupied during low season ? 

2- maintenance / Thais eventually stop paying dues on building upkeep (be prepared)

3-obviously you are in it for the long run if you wasn’t and needed to sell quick it won’t happen unless you give it away 

4- what happens if you end up deciding you don’t want to live in Pattaya anymore ? 

My advise is be as flexiable as you can, if you want to move quickly go ahead and do it , don’t be tied to a poorly constructed box . You may think this is a personal attack on your decisions but the truth is we have all made that same decision as you and it’s not been the bundle of laughs as we thought it may be . 

[scubascuba3]

oh I see destiny, you're talking through experience, I can't comment as never used steroids but if you like to use them I don't care, none of my business, I'd rather talk about the joys and benefits of living and owning property in thailand and what's involved in the process, that's what this section is about unfortunately it's been hijacked by guys obsessed with money and investments and that's not at all what this section is about, it's about owning real estate or land in Thailand
 

Real Estate, housing, house and land ownership

Real estate, housing, buying a condominium in Thailand. Ask all your practical and legal questions here

I recommend pattaya-addicts.com forum, its far less negative than thaivisa, people aren't looking for handbag fights all the time. Some knowledgeable guys there on property

[trogers]

29 minutes ago, scubascuba3 said:

8 hours ago, hugh mckee said:

oh I see destiny, you're talking through experience, I can't comment as never used steroids but if you like to use them I don't care, none of my business, I'd rather talk about the joys and benefits of living and owning property in thailand and what's involved in the process, that's what this section is about unfortunately it's been hijacked by guys obsessed with money and investments and that's not at all what this section is about, it's about owning real estate or land in Thailand
 

Real Estate, housing, house and land ownership

Real estate, housing, buying a condominium in Thailand. Ask all your practical and legal questions here

I recommend pattaya-addicts.com forum, its far less negative than thaivisa, people aren't looking for handbag fights all the time. Some knowledgeable guys there on property

There may be coming good news on RE in certain locations in Pattaya, after the next couple of years.

 

Like I say, investment is timing. I am still waiting for clearer development on the migration of Japanese companies to be near the Eastern Sea Port, and the new economic zone being set up.

 

Couple this with the bottoming of the property downturn for Pattaya.

[Destiny1990]

6 hours ago, robertthebruce said:

 

All I can say is I am so so glad I eventually sold my Condo...

 

100 Percent Positive would never buy again  in Thailand....

 

Too Risky........

 

but thats me, ...everyone is different......

 

 

Arr u trying to provoke Hugh Mckee here?

[Destiny1990]

8 hours ago, hugh mckee said:

you have no right to be advising people not to buy, someone may think with your 11500 posts that you know what you talking about when in fact there is not one person on the planet who knows what way thai property is going to go.

 

this section is about buying in thailand and the process of buying in thailand, keep your money making speculations to an appropriate forum, not hijacking this one for your own selfish agenda

Not sure if u still got ur account but personally I don't think the real estate bubble going to pop in Thailand anytime soon as its still way cheaper and more complete hand over then condos in cambodia Malaysia and Phillipines. But there is an oversupply lurking so buyer be aware.  

[trogers]

27 minutes ago, Destiny1990 said:

Arr u trying to provoke Hugh Mckee here?

No. He underwent a bad experience about 30+30 year leases being declared void in the courts. He was lucky to have sold off his property before the court decision.

[smutcakes]

1 hour ago, trogers said:

There may be coming good news on RE in certain locations in Pattaya, after the next couple of years.

 

Like I say, investment is timing. I am still waiting for clearer development on the migration of Japanese companies to be near the Eastern Sea Port, and the new economic zone being set up.

 

Couple this with the bottoming of the property downturn for Pattaya.

 

You are aware the FDI in manufacturing from Japanese companies is at one of its lowest webs ever? Where are these Japanese companies going to be migrating from? They are already located around the Industrial estates near LCB port in the provinces Chonburi, Chachoengsao and Rayong. Why are they suddenly going to be migrating anywhere?

 

The Japanese all live in Bangkok or Sriracha where there are Japanese schools and it is closer to LCB and most industrial estates than Pattaya.

 

[lkn]

13 hours ago, trogers said:

Already occurred 5-6 years ago in places like Pattaya and Phuket. Chiang Mai followed a couple of years ago.

Are you saying the Chiang Mai real estate market crashed a few years ago?

 

I started to look for a condo in Chiang Mai ~4 years ago, I have not seen any crash in prices in that period, in fact, I bought off plan 3 years ago, and everyone who bought in the same building since me has paid more per square than I paid, and the foreigner quota in my building (which was completed ~2 years ago) has been filled.

[cheeryble]

6 hours ago, chrisandsu said:

 

2- maintenance / Thais eventually stop paying dues on building upkeep (be prepared)

 

Since the new condo act amendments came in it's suicidally expensive to not pay fees now.

i believe up to 20% pa simple interest on unpaid dues.

If u don't pay you can be taken to court and the ultimate power is you can never sell your condo without a release letter from the office.

[chrisandsu]

2 hours ago, cheeryble said:

Since the new condo act amendments came in it's suicidally expensive to not pay fees now.

i believe up to 20% pa simple interest on unpaid dues.

If u don't pay you can be taken to court and the ultimate power is you can never sell your condo without a release letter from the office.

Once the building starts to look run down the chances of selling are very low anyway ! Would these new laws be applicable to older buildings ? Would be impossible to inforce if so . 

[smutcakes]

5 minutes ago, chrisandsu said:

Once the building starts to look run down the chances of selling are very low anyway ! Would these new laws be applicable to older buildings ? Would be impossible to inforce if so . 

All Condominiums are bound by the Condominium Act provisions, even old ones. You should get your money eventually as people cannot sell their units with unpaid amounts. (legally anyway). I suppose in very old condos there might be lack of information, inaccurate information etc. 

 

 

[theguyfromanotherforum]

On 11/29/2017 at 11:11 AM, bazza73 said:

Yes I did. She is a very intelligent woman, with a great sense of humor which cracks me up sometimes. Reminds me of Rita Rudner.

We were discussing how Thais would only buy new - houses, cars etc. I said falangs didn't mind secondhand. She said

" Yes, women too".

 

How old is she :)

[lkn]

12 minutes ago, chrisandsu said:

Once the building starts to look run down the chances of selling are very low anyway ! Would these new laws be applicable to older buildings ? Would be impossible to inforce if so . 

As I read the Act, the surcharge can only be charged if it is stated in the bylaws, so if the condominium hasn’t updated their bylaws, they would not be able to add interests to unpaid management fees.

 

[theguyfromanotherforum]

14 hours ago, hugh mckee said:

you have no right to be advising people not to buy, someone may think with your 11500 posts that you know what you talking about when in fact there is not one person on the planet who knows what way thai property is going to go.

 

this section is about buying in thailand and the process of buying in thailand, keep your money making speculations to an appropriate forum, not hijacking this one for your own selfish agenda

 

You know Hugh, you are right. Not everyone here is about money. Myself, I wanted to sell my condo in Toronto and buy something nice in Bangkok. I realize now what a mistake that would have been. 

 

You say you bought in Thailand for personal enjoyment. I get that. I am not buying for a long term gain, however, I am genuinely appealed by maintenance in this country. This is the only reason I refuse to buy here. 

 

Every year I go back to Canada to check out my building, I only see improvements in both the building and the neighborhood. The total opposite of what's happening in Bangkok where most condos start to deteriorate after 2 years.

 

It just isn't worth it the risk here.

[ExpatOilWorker]

4 hours ago, cheeryble said:

Since the new condo act amendments came in it's suicidally expensive to not pay fees now.

i believe up to 20% pa simple interest on unpaid dues.

If u don't pay you can be taken to court and the ultimate power is you can never sell your condo without a release letter from the office.

I know of a condo where about 30 out of 400 units don't pay common fees. Water has been shut off and some have the electric meter removed. Basically abandoned units.

Management can't do anything and in most cases they have no way of contacting the owners. Some are probably dead or long gone.

[hugh mckee]

9 hours ago, ExpatOilWorker said:

I guess you missed us or did something happen on the trip to Las Vegas?

Any progress on the condo?

no Las Vegas was great and I love USA but not allowed to live there like I can in Thailand

 

and yes I've tried to delete my account and again last night but it's not possible, every time I do come on here I read so much negative stuff that it makes me seriously doubt my decision to choose Thailand, the bad stuff about Thailand you read on here is unbelievable and if I'd read this forum before I bought I would not have bought that is 100% certain and because of the weak £ I could sell my condo when it's finished in 4 months for a similar price i paid for it and put it down to a lucky escape, even if i take a loss, I won't die, it's only money but then I'd have to rent and that is a 2nd class way of doing things, so much better to stay in your own home and the jealous, envious, bitter renters on here know this but most don't have the cash or the balls to ever buy their own property which makes them wish that those who do lose out just out of pure spite and jealousy,  a lot of the comments on here are fuelled by this, from bitter, sad, bored and unhappy people or people basically trapped in Thailand as it's their only home and that is why it's better to delete and not read as the happy people usually don't have time for these forums so it's unlikely I'm ever going to read their thoughts and get a balanced reflection on Thailand.

 

 

Edited December 16, 2017 by hugh mckee

[watcharacters]

On 10/8/2017 at 12:16 AM, cheeryble said:

I heard that more concrete was poured in China last year than in the whole of history, everywhere.

It may be a wee bit over, but this is impressive enough from Forbes....

 

 

 

 

 

BUt the Chinese structures tend to remain empty..

[janclaes47]

5 minutes ago, watcharacters said:

 

 

 

BUt the Chinese structures tend to remain empty..

 

I think you are just making this up.

 

http://www.raphaelolivier.com/china/architecture/photographer/ordos/failed-utopia/

 

http://www.businessinsider.com/these-chinese-cities-are-ghost-towns-2017-4/#when-caemmerer-found-out-about-these-empty-cities-he-was-immediately-fascinated-as-an-architectural-photographer-i-found-the-notion-of-a-contemporary-ghost-town-to-be-appealing-in-a-sort-of-unsettling-way-he-said-1

 

 

Edited December 16, 2017 by janclaes47

[ExpatOilWorker]

20 minutes ago, janclaes47 said:

 

I think you are just making this up.

 

http://www.raphaelolivier.com/china/architecture/photographer/ordos/failed-utopia/

 

http://www.businessinsider.com/these-chinese-cities-are-ghost-towns-2017-4/#when-caemmerer-found-out-about-these-empty-cities-he-was-immediately-fascinated-as-an-architectural-photographer-i-found-the-notion-of-a-contemporary-ghost-town-to-be-appealing-in-a-sort-of-unsettling-way-he-said-1

 

 

The city of the future.....

 

http://nordic.businessinsider.com/ordos-china-ghost-town-2017-5

[Destiny1990]

7 hours ago, hugh mckee said:

no Las Vegas was great and I love USA but not allowed to live there like I can in Thailand

 

and yes I've tried to delete my account and again last night but it's not possible, every time I do come on here I read so much negative stuff that it makes me seriously doubt my decision to choose Thailand, the bad stuff about Thailand you read on here is unbelievable and if I'd read this forum before I bought I would not have bought that is 100% certain and because of the weak £ I could sell my condo when it's finished in 4 months for a similar price i paid for it and put it down to a lucky escape, even if i take a loss, I won't die, it's only money but then I'd have to rent and that is a 2nd class way of doing things, so much better to stay in your own home and the jealous, envious, bitter renters on here know this but most don't have the cash or the balls to ever buy their own property which makes them wish that those who do lose out just out of pure spite and jealousy,  a lot of the comments on here are fuelled by this, from bitter, sad, bored and unhappy people or people basically trapped in Thailand as it's their only home and that is why it's better to delete and not read as the happy people usually don't have time for these forums so it's unlikely I'm ever going to read their thoughts and get a balanced reflection on Thailand.

 

 

So what did u buy? Studio one bed? What City ? Sqm?price? Why u care so much what others write here? If u like the place and the unit u bought then why not simply enjoy it?