Fulwell53 Posted May 22, 2017 Share Posted May 22, 2017 11 hours ago, Lamkyong said: so many derelict and empty units ? reason being overloaded market and Thais like new, rental same old new its a ooooo look what i have got we are so rich maybe i will buy a new truck to sit outside for everyone to look at with envy Oh so liking new things over old and flaunting one's comparative wealth is now a trait of thais only. Show offs, keeping up with the jones etc have been meat and drink in the west for eons man. Link to comment Share on other sites More sharing options...
Blue bruce Posted May 22, 2017 Share Posted May 22, 2017 Yes i understand all the reasons but i think the op's question is why there are so many with so many being vacant. I live in Buriram and there are literally 100's of vacant shop houses and they are constantly building more. Some are brand new, never been lived and the owner will build several more on the same rd. Does not make sense. I have asked my farang friends who have lived in Buriram 10 years why so many shop houses. Reply its the Thai way Link to comment Share on other sites More sharing options...
trogers Posted May 22, 2017 Share Posted May 22, 2017 1 hour ago, Blue bruce said: Yes i understand all the reasons but i think the op's question is why there are so many with so many being vacant. I live in Buriram and there are literally 100's of vacant shop houses and they are constantly building more. Some are brand new, never been lived and the owner will build several more on the same rd. Does not make sense. I have asked my farang friends who have lived in Buriram 10 years why so many shop houses. Reply its the Thai way An illogic act is often hidden in the answer 'it's the Thai way', because there is no reasonable answer forthcoming... Link to comment Share on other sites More sharing options...
Lamkyong Posted May 23, 2017 Share Posted May 23, 2017 14 hours ago, Fulwell53 said: Oh so liking new things over old and flaunting one's comparative wealth is now a trait of thais only. Show offs, keeping up with the jones etc have been meat and drink in the west for eons man. i dont recall saying it was just a Thai thing as you say world wide seemingly more so here hense my post Link to comment Share on other sites More sharing options...
bangkokairportlink Posted May 23, 2017 Share Posted May 23, 2017 (edited) 14 hours ago, Blue bruce said: Yes i understand all the reasons but i think the op's question is why there are so many with so many being vacant. I live in Buriram and there are literally 100's of vacant shop houses and they are constantly building more. Some are brand new, never been lived and the owner will build several more on the same rd. Does not make sense. I have asked my farang friends who have lived in Buriram 10 years why so many shop houses. Reply its the Thai way Funny that you cannot understand that if you have money, building now is a lot cheaper than in 10 or 20 years ! And no property tax in Thailand, so you do not need to rush to rent ! Never wondered why certainly 100000+ condos are built but nobody care renting them in BKK ? It explains why many of you have never been able to make any money in this country ! Edited May 23, 2017 by bangkokairportlink Link to comment Share on other sites More sharing options...
thehelmsman Posted May 23, 2017 Share Posted May 23, 2017 1 minute ago, bangkokairportlink said: Funny that you cannot understand that if you have money, building not is a lot cheaper than in 10 or 20 years ! And no property tax in Thailand, so you do not need to rush to rent ! Never wondered why certainly 100000+ condos are built but nobody care renting them in BKK ? It explains why many of you have never been able to make any money in this country ! You'll have to further explain yourself, Cannot make much sense out of your post. Link to comment Share on other sites More sharing options...
bangkokairportlink Posted May 23, 2017 Share Posted May 23, 2017 14 minutes ago, thehelmsman said: You'll have to further explain yourself, Cannot make much sense out of your post. Only cannot understand what is so easy it seems - if you have money, building now is a lot cheaper than in 10 or 20 years - no property tax in Thailand, so you do not need to rush to rent Link to comment Share on other sites More sharing options...
thehelmsman Posted May 23, 2017 Share Posted May 23, 2017 18 minutes ago, bangkokairportlink said: Only cannot understand what is so easy it seems - if you have money, building now is a lot cheaper than in 10 or 20 years - no property tax in Thailand, so you do not need to rush to rent I seriously doubt whether most foreigners are making plans for 20 yrs down the road. Basically you're saying build shophouses now, let them sit MT for 20 yrs and then what?? Link to comment Share on other sites More sharing options...
trogers Posted May 23, 2017 Share Posted May 23, 2017 33 minutes ago, thehelmsman said: I seriously doubt whether most foreigners are making plans for 20 yrs down the road. Basically you're saying build shophouses now, let them sit MT for 20 yrs and then what?? And then hope that the building will not crumble before they build a train station nearby... Link to comment Share on other sites More sharing options...
bangkokairportlink Posted May 23, 2017 Share Posted May 23, 2017 1 hour ago, thehelmsman said: I seriously doubt whether most foreigners are making plans for 20 yrs down the road. Basically you're saying build shophouses now, let them sit MT for 20 yrs and then what?? I am just saying the facts and the way it is, then you like it or not is not my problem. Link to comment Share on other sites More sharing options...
Lucky mike Posted May 23, 2017 Author Share Posted May 23, 2017 Sometimes it is easier to agree to disagree ! Link to comment Share on other sites More sharing options...
Bulldozer Dawn Posted May 23, 2017 Share Posted May 23, 2017 8 hours ago, bangkokairportlink said: Funny that you cannot understand that if you have money, building now is a lot cheaper than in 10 or 20 years ! And no property tax in Thailand, so you do not need to rush to rent ! Never wondered why certainly 100000+ condos are built but nobody care renting them in BKK ? It explains why many of you have never been able to make any money in this country ! Hang on a minute, you are failing to factor in the time value of the capital used to build the houses, and the fact that there is zero return on that capital (in fact negative actually if you take upkeep and the pending land tax into consideration). Link to comment Share on other sites More sharing options...
pegman Posted May 24, 2017 Share Posted May 24, 2017 On May 22, 2017 at 0:01 PM, Blue bruce said: Yes i understand all the reasons but i think the op's question is why there are so many with so many being vacant. I live in Buriram and there are literally 100's of vacant shop houses and they are constantly building more. Some are brand new, never been lived and the owner will build several more on the same rd. Does not make sense. I have asked my farang friends who have lived in Buriram 10 years why so many shop houses. Reply its the Thai way I know couples back home with 5,000sq' homes for the 2 of them. Makes about as much sense to me. Link to comment Share on other sites More sharing options...
trogers Posted May 24, 2017 Share Posted May 24, 2017 2 hours ago, pegman said: I know couples back home with 5,000sq' homes for the 2 of them. Makes about as much sense to me. Different. They still occupy and maintain the place and it's become the vacation place for children and grandchildren comes summer and Christmas. Link to comment Share on other sites More sharing options...
Stocky Posted May 25, 2017 Share Posted May 25, 2017 Construction industry is a good way of laundering money, either through the value of the land and buildings and/or through the construction company that builds it. So in a lot of instances it doesn't really matter if the building is eventually sold, as the job is done and the grey money is now in the system 'legally'. Additionally the land and building, vacant or otherwise, still holds value as collateral. It's usually the shophouse lots you see built on land in odd places or even in the middle of nowhere that are likely guilty of this; no point wasting money on expensive land. Link to comment Share on other sites More sharing options...
trogers Posted May 25, 2017 Share Posted May 25, 2017 8 minutes ago, Stocky said: Construction industry is a good way of laundering money, either through the value of the land and buildings and/or through the construction company that builds it. So in a lot of instances it doesn't really matter if the building is eventually sold, as the job is done and the grey money is now in the system 'legally'. Additionally the land and building, vacant or otherwise, still holds value as collateral. It's usually the shophouse lots you see built on land in odd places or even in the middle of nowhere that are likely guilty of this; no point wasting money on expensive land. The unspoken reason that is hidden behind the answer "It's the Thai way"? Link to comment Share on other sites More sharing options...
Stocky Posted May 25, 2017 Share Posted May 25, 2017 (edited) 9 minutes ago, trogers said: The unspoken reason that is hidden behind the answer "It's the Thai way"? Not at all. Money laundering is global. In Thailand, as well as Malaysia, the humble shophouse is often a suitable medium. . Edited May 25, 2017 by Stocky Link to comment Share on other sites More sharing options...
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