It's official - Thai real estate bubble pops.

[trogers]

3 minutes ago, theguyfromanotherforum said:

 

Yes, it's a great place and you'll be getting a monorail soon, but I always chuckle when chaopraya living is considered hiso waterfront location. It's a giant garbage dump.

 

You forget raw sewage...

[luk AJ]

Yes, it's a great place and you'll be getting a monorail soon, but I always chuckle when chaopraya living is considered hiso waterfront location. It's a giant garbage dump.

The River is being flushed every rain season and besides the hyacinths I don't see much floating. But I do hope regulations in the future will prevent what you describe..i love to wake up and be able to see the horizon


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[kannot]

On 3/6/2017 at 6:59 AM, bangkokorbust said:

Don't be silly. Hong Kong investors are choosing thailand as its an emerging market.
They saw how quickly there own grew. OUTSTANDING article. It's no wonder new condo prices especially along lower Sukhumvit have exploded in the last 5 years

Farang have shot themselves in the foot..missed it altogether

bought 4, still  have  both  feet

[funandsuninbangkok]

15 hours ago, kannot said:

bought 4, still  have  both  feet

But you also have a depreciating and unsellable asset in a third world county plagued by political violence. Oh and much less cash in the bank and no cash flow. 

 

Have you looked down lately?

Edited June 2, 2017 by funandsuninbangkok

[funandsuninbangkok]

On 5/31/2017 at 3:54 PM, luk AJ said:

I live at The River condo opposite Shangrila access to Bts and walking distance to Siam Icon. So yes I consider this prime location...


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The River is another troubled project that is depreciating rapidly. 10 years of stop and start construction allowed developer to claim appreciation. Not true. What lead to higher prices was the project (more or less) being complete. 

 

Still less than 50% occupied with the new owner(Dumb Singapore money clueless about ThAiland) renting unsold units on a daily rate. 

 

Now with the the new tower raising just east of it, half the units will have thier view blocked. 

 

No no way anyone could sell a unit there unless they went far below "market" price. Hundreds available. 

[smutcakes]

2 hours ago, funandsuninbangkok said:

The River is another troubled project that is depreciating rapidly. 10 years of stop and start construction allowed developer to claim appreciation. Not true. What lead to higher prices was the project (more or less) being complete. 

 

Still less than 50% occupied with the new owner(Dumb Singapore money clueless about ThAiland) renting unsold units on a daily rate. 

 

Now with the the new tower raising just east of it, half the units will have thier view blocked. 

 

No no way anyone could sell a unit there unless they went far below "market" price. Hundreds available. 

I notice you have not referenced the Head of the BOT comments this morning about the bubble in the paper? Any reason why not?

 

When is this pop going to happen that you keep talking about? How long do we need to tune in to witness the event?

 

What new tower is going up east of it? east is the river and then into Sathorn area. I believe the Icon Siam's Mandarin Oriental Residences are being constructed about 3/4 to the North.

[luk AJ]

The River is another troubled project that is depreciating rapidly. 10 years of stop and start construction allowed developer to claim appreciation. Not true. What lead to higher prices was the project (more or less) being complete. 
 
Still less than 50% occupied with the new owner(Dumb Singapore money clueless about ThAiland) renting unsold units on a daily rate. 
 
Now with the the new tower raising just east of it, half the units will have thier view blocked. 
 
No no way anyone could sell a unit there unless they went far below "market" price. Hundreds available. 

I suppose you are referring to another project, the construction was delayed for maybe one year, not more. I look out of my window and see no other tower being constructed which could obstruct the view..


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[funandsuninbangkok]

7 hours ago, smutcakes said:

I notice you have not referenced the Head of the BOT comments this morning about the bubble in the paper? Any reason why not?

 

When is this pop going to happen that you keep talking about? How long do we need to tune in to witness the event?

 

What new tower is going up east of it? east is the river and then into Sathorn area. I believe the Icon Siam's Mandarin Oriental Residences are being constructed about 3/4 to the North.

Old Pepsi warehouse next to The River sold. Soon to be 70 story tower. 

 

Bubble popped two years ago after coup. Market frozen. Real estate world in Bangkok grim. 

 

But hey, hat do I know. Jump in. Water feels good!

[luk AJ]

Old Pepsi warehouse next to The River sold. Soon to be 70 story tower. 
 
Bubble popped two years ago after coup. Market frozen. Real estate world in Bangkok grim. 
 
But hey, hat do I know. Jump in. Water feels good!

You know something but I am not really impressed..
Nobody started building yet (mistake1) it is not old Pepsi property but Est Cola(mistake2), it didn't take 10 years to realize project (mistake 3) All the River units are sold but not all occupied. (mistake 4)
Ooh yes, sorry you are right about the water, feels good indeed!


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[funandsuninbangkok]

8 hours ago, luk AJ said:

I suppose you are referring to another project, the construction was delayed for maybe one year, not more. I look out of my window and see no other tower being constructed which could obstruct the view..


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Well many buyers like this guy think it was never really completed.  

 

 

 

 But  --- First delay  -- Lehman was big invester. Oops!

 

http://extraordinaryworldcommunity.blogspot.com/2008/09/impact-of-lehman-bankruptcy-in-thailand.html?m=1

 

Second Delay. Dubai money comes to rescue. What could go wrong?  Oil goes from $ 100 to $ 40 in 6 month!  Ops again!

 

http://rml.listedcompany.com/news.html/id/163917/group/newsroom_press

 

Third Bail out was Singapore money cam after Dubai fellows left about 2011

 

All in all about 8 years from start of marketing to hand over.   Really it's a miracle the building got done at all. 

 

[funandsuninbangkok]

52 minutes ago, luk AJ said:

You know something but I am not really impressed..
Nobody started building yet (mistake1) it is not old Pepsi property but Est Cola(mistake2), it didn't take 10 years to realize project (mistake 3) All the River units are sold but not all occupied. (mistake 4)
Ooh yes, sorry you are right about the water, feels good indeed!


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Est Cola property huh?

 

sorry thought you had been here for a while. Anyway, welcome to Bangkok. Hope you enjoy it. 

[funandsuninbangkok]

9 hours ago, smutcakes said:

I notice you have not referenced the Head of the BOT comments this morning about the bubble in the paper? Any reason why not?

 

When is this pop going to happen that you keep talking about? How long do we need to tune in to witness the event?

 

What new tower is going up east of it? east is the river and then into Sathorn area. I believe the Icon Siam's Mandarin Oriental Residences are being constructed about 3/4 to the North.

Ah yes, I am certain confidence is fully restored after this nice fellow makes a point to go on the news and tell everyone, "Don't worry there is no property bubble. "

 

No bubba here. You rook ober to Burma. Bad peopre. Bubba sure ober der!  No Babba Bangkok.  We OK! 

 

You a buyer now? Got your wallet out pal?

[luk AJ]

Est Cola property huh?
 
sorry thought you had been here for a while. Anyway, welcome to Bangkok. Hope you enjoy it. 

22 years and you?


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[GuiseppeD]

On ‎3‎/‎9‎/‎2017 at 2:32 AM, bangkokorbust said:

Any brit with half a brain would have bough in the country he has retired in and here is the thing.. Any brit that had bought 5 to 10years ago could have sold even at a loss and converted Baht back to STERLING and made a 40 %killing on exchange rate alone!

Isn't hindsight a wonderful thing?

[funandsuninbangkok]

3 hours ago, GuiseppeD said:

Isn't hindsight a wonderful thing?

Any Brit who kept his home in the UK last 10 years would have got decent rental yield and far more than 40% capital gain. 

 

Oh and he would also have benefited from Rule of Law in any disputes, knowledgeable tradesmen to work on the place, a society where common areas are maintained by the owners. 

 

Hum, oh and no flooding, policemen murdering civilians, Hoards of Chinese tourists and aggressive ladyboys. 

 

But hey, besides that, Bangkok is a great place to buy. 

[trogers]

5 hours ago, funandsuninbangkok said:

Any Brit who kept his home in the UK last 10 years would have got decent rental yield and far more than 40% capital gain. 

 

Oh and he would also have benefited from Rule of Law in any disputes, knowledgeable tradesmen to work on the place, a society where common areas are maintained by the owners. 

 

Hum, oh and no flooding, policemen murdering civilians, Hoards of Chinese tourists and aggressive ladyboys. 

 

But hey, besides that, Bangkok is a great place to buy. 

Just that they would have to invest 4-5 times that amount to enjoy the returns...the cost of entry.

 

But this gap is closing if we believe recent reports...

[GuiseppeD]

Any Brit who kept his home in the UK last 10 years would have got decent rental yield and far more than 40% capital gain. 
 
Oh and he would also have benefited from Rule of Law in any disputes, knowledgeable tradesmen to work on the place, a society where common areas are maintained by the owners. 
 
Hum, oh and no flooding, policemen murdering civilians, Hoards of Chinese tourists and aggressive ladyboys. 
 
But hey, besides that, Bangkok is a great place to buy. 

It's not all sweetness and light in the UK rental market.

Rule of law? That would be civil law and that's not worth a crap when push comes to shove.

It's all good if the landlord is lucky enough to find tenants that can walk on water and equally pay their rent on time. But your tunnel vision of the rental market is just too blinkered.


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[topt]

On ‎03‎/‎06‎/‎2017 at 1:34 AM, funandsuninbangkok said:

Any Brit who kept his home in the UK last 10 years would have got decent rental yield and far more than 40% capital gain. 

Rental yield ok but 40% capital gain..........yes in certain areas and properties but certainly not everywhere as I can attest so a somewhat exaggerated claim for the whole of the UK  

[trogers]

15 minutes ago, topt said:

Rental yield ok but 40% capital gain..........yes in certain areas and properties but certainly not everywhere as I can attest so a somewhat exaggerated claim for the whole of the UK  

Location, location and location.

 

Anywhere on mother Earth.

[topt]

5 minutes ago, trogers said:

Location, location and location.

 

Anywhere on mother Earth.

Undeniably

[funandsuninbangkok]

3 hours ago, topt said:

Rental yield ok but 40% capital gain..........yes in certain areas and properties but certainly not everywhere as I can attest so a somewhat exaggerated claim for the whole of the UK  

Sorry, I stand corrected. Unless your an investment retard, massive gains were to be had in UK. Far better than Bangkok. 

 

http://www.home.co.uk/guides/house_prices_report.htm?location=london&all=1

 

 

[funandsuninbangkok]

 

Just noticed 5 new towers end of Suk 24. I never go down there because traffic is so bad. I can't believe they are building more!  Half the condos now are empty!

 

When China blows, Thai real estate market will disintegrate. 

 

https://mobile.nytimes.com/2017/04/25/business/china-zouping-debt-bank-crisis.html

 

 

[trogers]

6 hours ago, funandsuninbangkok said:

 

Just noticed 5 new towers end of Suk 24. I never go down there because traffic is so bad. I can't believe they are building more!  Half the condos now are empty!

 

When China blows, Thai real estate market will disintegrate. 

 

https://mobile.nytimes.com/2017/04/25/business/china-zouping-debt-bank-crisis.html

 

 

No. Soi Sukhumvit 24 is not an area for the people of China. More HK Chinese, Japanese, Koreans and farangs.

 

Mainland Chinese prefer the stretch from Rama 9 to Suthisarn.

 

 

[funandsuninbangkok]

2 hours ago, trogers said:

No. Soi Sukhumvit 24 is not an area for the people of China. More HK Chinese, Japanese, Koreans and farangs.

 

Mainland Chinese prefer the stretch from Rama 9 to Suthisarn.

 

 

Well the HK, Japanese and Korean money will dry up pronto when China Melts down. Same with Thai money. China is number 2 export market now. 

[funandsuninbangkok]

Good news! Lead story in Bangkok Post today

 

NO BUBBLE IN PROPERTY!

 

boy do I feel better!

[trogers]

5 minutes ago, funandsuninbangkok said:

Good news! Lead story in Bangkok Post today

 

NO BUBBLE IN PROPERTY!

 

boy do I feel better!

One untouched area all these experts in finance and real estate deliberately ignore in their analysis is the volume of unsold inventory of the developers...

 

Read about that project in Phuket with 6 units sold out of 100+!

[trogers]

8 hours ago, funandsuninbangkok said:

Good news! Lead story in Bangkok Post today

 

NO BUBBLE IN PROPERTY!

 

boy do I feel better!

 

8 hours ago, trogers said:

One untouched area all these experts in finance and real estate deliberately ignore in their analysis is the volume of unsold inventory of the developers...

 

Read about that project in Phuket with 6 units sold out of 100+!

 

And so it has begun...

 

[funandsuninbangkok]

On 6/12/2017 at 7:03 PM, trogers said:

 

 

And so it has begun...

 

Treetops ! 

 

What at a mess. Plus look, someone is renting units daily only booking dot com

https://www.booking.com/hotel/th/treetops-pattaya.en-gb.html

 

[ChiangMaiLightning2143]

Surely you cant be serious?
There are good hotels for 300 baht a day there.

I think this is rubbish. Perhaps you can provide a link?

[WhyYouTalkMeBad]

I think this is rubbish. Perhaps you can provide a link?

He meant good back packers. Sharing a bunk with 8 other drunk men in the same room in Thailand.. What could possibly go wrong?