It's official - Thai real estate bubble pops.

[Kieran00001]

22 minutes ago, chrisandsu said:

I have no idea then . I can assure you bangkok bank 100% refuse to give me any interest . I’d double check with your friends to be sure . 

 

 I get interest at rate of 0.5% with Bangkok Bank.

[William C F Pierce]

Regardless of where you are in the world. The sensible equation is if you pay cash for the property:                                 Purchase price = Yield % x number of total years to cover your initial costs. Whether you keep or sell after this depends on your business ambitions.

[Naam]

5 hours ago, chrisandsu said:

I have no idea then . I can assure you bangkok bank 100% refuse to give me any interest . I’d double check with your friends to be sure . 

you should double check your account whether there's money in it.

[Naam]

Quote

chrisandsu said:

I have no idea then

true!

[Destiny1990]

@Chisandsu

Then leave ur money with me and i will double the interest bkk bank gives u.

[cheeryble]

What's the huge attraction with the Supalai Condos nr Central Festival?

 

I have previously pointed out the first one filled in no time, and the second one was half booked before building.

Last night I heard of an eight hour queue for sign-ups in the third building.

The price of the Supalai Monte seems to be around 65,000bt/sqm, and the studios are 33 sqm at 3.80 metres wide.

Are they offering to finance at particularly attractive terms, or what? (didn't see anything on the Monte website)

 

Other condos I've seen go up not so long ago seem to have sold very well, and units for sale go fast in an older building I know well both these categories are being lived in............what about sales in other brand new ones?

Edited February 18, 2018 by cheeryble

[hugh mckee]

On 2/18/2018 at 5:49 AM, cheeryble said:

What's the huge attraction with the Supalai Condos nr Central Festival?

 

I have previously pointed out the first one filled in no time, and the second one was half booked before building.

Last night I heard of an eight hour queue for sign-ups in the third building.

The price of the Supalai Monte seems to be around 65,000bt/sqm, and the studios are 33 sqm at 3.80 metres wide.

Are they offering to finance at particularly attractive terms, or what? (didn't see anything on the Monte website)

 

Other condos I've seen go up not so long ago seem to have sold very well, and units for sale go fast in an older building I know well both these categories are being lived in............what about sales in other brand new ones?

yes i think they have to change the heading of this topic to "it's unofficial" as even more than 2 years on there has been no crash despite all the hopes/wishes/dreams of the sad, bitter, jealous posters on here.

 

to answer your question cheeryble, I have bought a condo in a brand new building and is 2 to 4 months away from completion, as of now they only have 2 foreign left and less than a handful of Thai quota and the prices quoted for resale market are 25% more than I paid last year, the few left with developer are selling at 30% more than I paid.

 

the bitter and jealous on here criticise anyone on here who buys instead of rents but really who'd rent if they can afford to buy and owning is their preference? from information I am hearing the numbers of Chinese now interested in investing in Pattaya has gone through the roof, sure buying property in Thailand is a gamble, buying anywhere is a gamble but this topic is all about a decline in Thailand's property market and is totally misleading, I personally am glad I found this topic after I'd bought my condo as i think I'd never have bought if I had, now I'm very glad I bought when I did, the longer I waited the more not less i would have paid and with many infrastructure projects planned Pattaya property is not likely to crash and is more likely to grow and with even more Chinese investors too maybe now is a good time to buy? of course i can't say that but I can say from my experience that I am very happy I bought when I did.

Edited March 7, 2018 by hugh mckee

[MaeJoMTB]

On 1/22/2018 at 1:53 PM, Naam said:

i'm a foreigner too, have no work permit but i'm getting since 14 years interest from Siam Commercial and Kasikorn. for the last few years as mentioned a pittance. but that pittance is more than the zero percentage i'm getting on my accounts in German and Singapore.

1.6% from TMB on my normal 'All Free' account.

No charges on any banks ATM withdrawals throughout Thailand 

[MaeJoMTB]

On 1/22/2018 at 3:32 PM, William C F Pierce said:

Regardless of where you are in the world. The sensible equation is if you pay cash for the property:                                 Purchase price = Yield % x number of total years to cover your initial costs. Whether you keep or sell after this depends on your business ambitions.

Also  depends how old you are.

No point in buying a place where the break even is in 20 years, if you are only likely to live another 5 years.

[ozmeldo]

6 hours ago, hugh mckee said:

yes i think they have to change the heading of this topic to "it's unofficial" as even more than 2 years on there has been no crash despite all the hopes/wishes/dreams of the sad, bitter, jealous posters on here.

 

to answer your question cheeryble, I have bought a condo in a brand new building and is 2 to 4 months away from completion, as of now they only have 2 foreign left and less than a handful of Thai quota and the prices quoted for resale market are 25% more than I paid last year, the few left with developer are selling at 30% more than I paid.

 

the bitter and jealous on here criticise anyone on here who buys instead of rents but really who'd rent if they can afford to buy and owning is their preference? from information I am hearing the numbers of Chinese now interested in investing in Pattaya has gone through the roof, sure buying property in Thailand is a gamble, buying anywhere is a gamble but this topic is all about a decline in Thailand's property market and is totally misleading, I personally am glad I found this topic after I'd bought my condo as i think I'd never have bought if I had, now I'm very glad I bought when I did, the longer I waited the more not less i would have paid and with many infrastructure projects planned Pattaya property is not likely to crash and is more likely to grow and with even more Chinese investors too maybe now is a good time to buy? of course i can't say that but I can say from my experience that I am very happy I bought when I did.

Guess you missed the part about there being huge amounts of land and insatiable desire to build.

 

There will always be another opportunity and if not, given the ROI and drama circulating about owning a condo, no one is losing sleep over missing that bargain you snatched up.

 

[lkn]

10 hours ago, MaeJoMTB said:

Also  depends how old you are.

No point in buying a place where the break even is in 20 years, if you are only likely to live another 5 years.

Not everybody buys to break even.

 

Foreigners who come here to enjoy their life and have sufficient means to live a good life, why wouldn’t you buy? The selection is much better, and you can make changes/improvements to the place in ways that are not possible with a rental.

 

But of course, if you are on a budget, it might be harder to justify, especially as the selection of good condos (to buy) is limited (when on a budget), and spending extra to make desired changes becomes even less realistic.

[smutcakes]

8 hours ago, ozmeldo said:

Guess you missed the part about there being huge amounts of land and insatiable desire to build.

 

There will always be another opportunity and if not, given the ROI and drama circulating about owning a condo, no one is losing sleep over missing that bargain you snatched up.

 

What drama circulating about owning a condo?

[MaeJoMTB]

4 hours ago, lkn said:

Not everybody buys to break even.

Foreigners who come here to enjoy their life and have sufficient means to live a good life, why wouldn’t you buy? The selection is much better, and you can make changes/improvements to the place in ways that are not possible with a rental.

Good life ............. not in a Condo.

If you've got money to throw away, most would buy/rent/lease a house.

[HampiK]

1 hour ago, MaeJoMTB said:

Good life ............. not in a Condo.

If you've got money to throw away, most would buy/rent/lease a house.

Why you think everybody should be more happy in a house than in a condo?

 

In a house you have to take care when you away, that nobody steal something (In a condo much smaller chance)

In a house there is garden and other work, which not everybody is happy to have (and why pay for a gardener, when I not even enjoy a garden?)

 

There are reasons which makes more sense to stay in a condo than a house. For you a house is maybe more comfort.. for others a condo is more fun.

[lkn]

4 hours ago, MaeJoMTB said:

Good life ............. not in a Condo.

If you've got money to throw away, most would buy/rent/lease a house.

Different horses for different courses; I stay here only half time, so I need as little maintenance as possible, I like the rooftop swimming pool, but I wouldn’t pay for maintaining one for myself, I can’t buy a house because I am not Thai, and I think my condo is nicer than most houses around here: a top floor corner duplex around 200 sq. meter with windows to 3 sides all with reasonable good views (considering this is Thailand), and I prefer to have shops within walking distance.

Edited March 8, 2018 by lkn

[InMyShadow]

10 hours ago, MaeJoMTB said:

Good life ............. not in a Condo.

If you've got money to throw away, most would buy/rent/lease a house.

Most people cant afford a house in desirable areas so they end up renting a house near a jungle somewhere or chiang rai etc .

This little black duck has condo right in the heart of the action in BKK . I wanna live life and spending 4 hours a day pretending I like gardening is not my idea of a good life but hey each to their own

[chrisandsu]

5 minutes ago, EVENKEEL said:

Give it a rest, JHC you do ramble on. Could be your thoughts and words get lost in translation. You've come to the wrong place if you can't handle criticism. 

He wants you to believe he has a condo that’s gone up 30% in the last couple of months ?? anyone looking to buy a condo by any chance ? Hugh has a brand new unlived one if you want it ? Been living in Storyville (Pattaya ) too long I’m afraid .

[smutcakes]

12 hours ago, MaeJoMTB said:

You're right, I wish all 4 of us could all live in just one room.

Having a separate bedroom/living room/kitchen and more bedrooms for the children is no way to live.

Its not everyone else's fault you can only afford a studio unit.

Others have the option of more spacious condo and a few bedrooms.

Just because a condo does not work in your circumstances does not mean it is not the option for others.

Seems you are just bitter about where you are in life.

[grobec]

The oldest high-rise hotels built in the 70s are Dusit and Indra. Similarly, the oldest office building is the UOB HQ.
 
And the oldest condo building completed near end 70s is Premier Condominium, where I have 2 units.
 
The structures would still be standing for another 5 decades, and they would be demolished only because of the very high increases in land values and building density that rezoning allowed. Not because their structures are failing.

Hi
Actually the Dusit is soon to be demolished and completely rebuilt. More likely for aesthetic reasons but I suspect the olde infrastructure would no longer support the new demands.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[chrisandsu]

12 minutes ago, smutcakes said:

You obviously have a bee in your bonnet about something. In nearly every thread the poster MJB criticize condo owners, a good life in a condo?  only if you have money to throw away. When challenged on is unrelenting negativity on anything condo or the possibility that anyone could possibly enjoy living in one his response was that you cannot have 4 people living in a room.

This is obviously a ridiculous comment as you get condos of all sizes to meet all budgets and all sizes.

 

I was not in anyway making out that i have unlimited funds, just that everyone is different, everyone has different budgets and some despite having 4 people in the family can buy a condo and enjoy living there and not needing to be in one room. The crux being that just because he does not or cannot want to live in a condo in no way means that others as has been widely pointed out on this very thread can and do enjoy living in them.

No bee in my bonet . When people chose to only talk about the money they supposedly have I tend to think they are unethical and untrustworthy . Personally I know billionaires who wouldn’t speak so cheaply . To me the only upside of a condo is you can actually own it outright . I don’t particuly like them myself and they are certainly not suited to family living which is what he said . I don’t see any negativity in that . 

[smutcakes]

28 minutes ago, chrisandsu said:

No bee in my bonet . When people chose to only talk about the money they supposedly have I tend to think they are unethical and untrustworthy . Personally I know billionaires who wouldn’t speak so cheaply . To me the only upside of a condo is you can actually own it outright . I don’t particuly like them myself and they are certainly not suited to family living which is what he said . I don’t see any negativity in that . 

I have made a handful of vague references to money in 4500 posts, if that makes me unethical and untrustworthy then you are very sensitive. To you the only upside of a condo is you can outright own it, to many others they are just what they are looking for. if you saw his posts on these types of subjects every time they come up you would understand.  He said you have a condo if you want to waste money as a general and sweeping comment, not about him. That is not negativity?

 

Just an example of other aspects people like about condos rather than houses:

 

1) No worry about security

2) Maintenance teams on site

3) Facilities to use which are all maintained and taken care of for you

4)Can simply lock the door and walk away for months on end without having to worry about anything

5) You can own it 100% in your name as a foreginer

6) Some people enjoy city living, and a condo is really the only feasible option in central Bangkok.

7) Nice views away from the hussle and bustle down below.

8) Minimum levels of problems endlessly talked about on TVF associated with rural village life (families, soi dogs, weird nebhours etc etc)

9) Dont have to do gardening

 

 

 

 

[chrisandsu]

5 minutes ago, smutcakes said:

I have made a handful of vague references to money in 4500 posts, if that makes me unethical and untrustworthy then you are very sensitive. To you the only upside of a condo is you can outright own it, to many others they are just what they are looking for. if you saw his posts on these types of subjects every time they come up you would understand.  He said you have a condo if you want to waste money as a general and sweeping comment, not about him. That is not negativity?

 

Just an example of other aspects people like about condos rather than houses:

 

1) No worry about security

2) Maintenance teams on site

3) Facilities to use which are all maintained and taken care of for you

4)Can simply lock the door and walk away for months on end without having to worry about anything

5) You can own it 100% in your name as a foreginer

6) Some people enjoy city living, and a condo is really the only feasible option in central Bangkok.

7) Nice views away from the hussle and bustle down below.

8) Minimum levels of problems endlessly talked about on TVF associated with rural village life (families, soi dogs, weird nebhours etc etc)

9) Dont have to do gardening

 

 

 

 

In 4500 hundred posts I caught you on the very first ones then ? How’s that for a stroke of luck! The last condo I lived in had barking dogs yapping all day long ! Noisey neighbours ? Yes ! Pools and gym equipment maintained ? Ummm no !they are falling to bits within a couple of years ! I have owned a condo in bkk it served its purpose yes as it was close to most things and the cheapest way to have property in bkk . While I worked there it made sense . Selling it was a massive problem !  I like my fresh air a little too much to live in bkk now although to be honest it’s the only place worth living full time in Thailand . Where I live I have a house in the city and a cabin in the countryside . I’m far happiest in my cabin working the land I actually own . 

[InMyShadow]

I have made a handful of vague references to money in 4500 posts, if that makes me unethical and untrustworthy then you are very sensitive. To you the only upside of a condo is you can outright own it, to many others they are just what they are looking for. if you saw his posts on these types of subjects every time they come up you would understand.  He said you have a condo if you want to waste money as a general and sweeping comment, not about him. That is not negativity?
 
Just an example of other aspects people like about condos rather than houses:
 
1) No worry about security
2) Maintenance teams on site
3) Facilities to use which are all maintained and taken care of for you
4)Can simply lock the door and walk away for months on end without having to worry about anything
5) You can own it 100% in your name as a foreginer
6) Some people enjoy city living, and a condo is really the only feasible option in central Bangkok.
7) Nice views away from the hussle and bustle down below.
8) Minimum levels of problems endlessly talked about on TVF associated with rural village life (families, soi dogs, weird nebhours etc etc)
9) Dont have to do gardening
 
 
 
 

But you misses the number 1 reason.

No need to put it into the ex bar girl new wife's name! Even if she is "different" [emoji23]

[mgthom63]

34 minutes ago, hugh mckee said:

read my post from yesterday in response to cheeryble

 

I hadn't posted in a long time or even logged in because if I write anything positive about condo ownership then the usual suspects come out and insult and ridicule me and yesterday after my positive post was no exception and I got the same ridicule from the same guys, it's very difficult to write anything positive for this reason I don't think this is the best place to get the information you are seeking.

 

I bought a condo and never read this forum until afterwards and then thought what have I done? I actually got worried and regretted my decision after reading the overwhelming negativity on this forum, now I until this week ignore this forum it's full of bitter and jealous people whose opinion is not worth listening to and I am very pleased I made my decision to buy and not rent as I want to live in my own place, each to their own of course and now my condo is almost finished and has turned out (very luckily)

to have been a shrewd purchase, of course I can't right these things and now await ridicule from the usual suspects.

I hear you!  But if you continue to respond to his insults with your own insults, you're just helping to derail the thread and feed the troll.  Best to just ignore them, rather than get into a slanging match IMHO...some folks have nothing better to do than bait and insult others...but I totally understand why you have got riled up.

I was just (maybe unrealistically) hoping this thread could get back on track :)

Edited March 9, 2018 by mgthom63

[Destiny1990]

Thailand has inexpensive real estate incomparison most other asian countries i see prices only to rise.

[metisdead]

Inflammatory bickering posts and the replies have been removed. 

[ExpatOilWorker]

The central bank of central banks, BIS is not harsh on Thailand in particular, but they do say on page 98 in their quarterly review:

 

See also page 100. Banks are borrowing less to developers in Thailand.

 

The Bank of Thailand (2018) warns that once many large-scale property projects are completed in four to five years’ time, house prices could adjust sharply because of an oversupply of condominiums. Under such circumstances, the central bank argues, financial pressures on property developers could spread to the banking sector, as bank loans have been the main funding source of these firms.

 

BIS r_qt1803.pdf

Edited March 15, 2018 by ExpatOilWorker

[ExpatOilWorker]

Bit hard to copy paste, but developers in Thailand are sitting on as many unsold units as China, relative to size.

 

Inventories as a share of total assets, in per cent 2010-16

China 50.4 57.2 59.6 57.5 58.3 54.4 48.9

Hong Kong SAR 11.4 9.9 6.7 10.2 13.3 12.9 12.1

Indonesia 21.3 18.0 12.5 11.3 16.5 14.1 14.6

Malaysia 18.2 16.1 16.2 21.7 16.3 21.0 21.8

Singapore 21.8 6.0 13.6 21.9 18.4 18.7 18.0

Thailand 66.4 62.2 61.2 63.5 61.4 56.9 53.2

[Rdrokit]

Don't know about the condo market but the housing market in Korat continues to get more expensive. We bought out house 10 years ago for 1.750,000 baht. The same house today in our development is 3.2 million and they are selling like hot cakes.

[Coconut007]

1 hour ago, Rdrokit said:

Don't know about the condo market but the housing market in Korat continues to get more expensive. We bought out house 10 years ago for 1.750,000 baht. The same house today in our development is 3.2 million and they are selling like hot cakes.

It looks like it has less free land around the house than town houses in Sydney.

 

Thailand has pretty much unlimited supply of land, it always surprises me how everyone must squeeze to one spot like if they are in Monaco.