Changes in Foreign Ownership Law?

A true sign that the market is in the toilet. The locals ain't buying...and foreigners should think twice about why that may be.

[Lunchtime O'Booze]

A true sign that the market is in the toilet. The locals ain't buying...and foreigners should think twice about why that may be.

the first part is correct but I don't see why foreigners should worry about buying if prices fall..it's so cheap anyway I reckon if you have the spare cash it's time to snap up your piece of paradise.





(nb: there will be a tall building near Jomtien beach that looks like it may be fun)

[markie1]

[quote="Chao Na":1jfzqdf2]A true sign that the market is in the toilet. The locals ain't buying...and foreigners should think twice about why that may be.

the first part is correct but I don't see why foreigners should worry about buying if prices fall..it's so cheap anyway I reckon if you have the spare cash it's time to snap up your piece of paradise.





(nb: there will be a tall building near Jomtien beach that looks like it may be fun)[/quote:1jfzqdf2]
It wil not be much fun for the ones behind it LOLL,that bought there condo's with a sea view, and now the only View they will get is you cleaning your windows. hahah

I don't care how "cheap" something is (or appears to be). If it goes down in value, it does not make sense to have bought it.

Generally speaking the very high end condominiums have the least problems. Most of the residents are prompt in paying their maintenance fees for their units. Get something with too many Asians (I speak generally here) and soon the guy on the 2nd floor shouts I am not paying i don't use the lift. Also after a few years you will see how dilapidated the building gets. So let me just say if you are going to buy, buy one with a low density occupancy. Controls are better and cooperation easier.

Some of you guys must have come across an arse hole who refuses to allow anyone into his unit above yours when his bathroom leaks into your ceiling? Even if you are repairing he still says well its not affecting me so who gives a hoot!

Welcome to the Nightmare of property owership in Thailand. And that is just the beginning.

I don't see why foreigners should worry about buying if prices fall..

it's so cheap anyway I reckon if you have the spare cash it's time to snap up your piece of paradise.

(nb: there will be a tall building near Jomtien beach that looks like it may be fun)

Maybe because prices may carry on falling; because the project may not be completed; because the building may fall as well as the price; because there may be so few buyers that the maintenance charge is astronomical/ there is no maintenance, security, etc; because the infrastructure does not exist to support the number of planned projects; because the political future of the country is uncertain (at best), etc, etc, etc ???

Cheap? When a 39sqm bedsit in a semi-slum area is advertised here for rent at over ┬г400 per month and that is considered reasonable? When prices per sqm are comparable or more than in UK, Europe or the US for similar areas (as was established here some time ago and a Google search can confirm)??? If you have "spare cash" that you are happy to lose, why not save time and just give it away ???

Fun? Funny, possibly, but do you mean funny-ha-ha or funny-strange - and who for???

I am happy living here, together with my partner I own my own house and land 100% legally, but the only rational people who would advise anyone to "snap up" anything here are those who are selling, or their agents.

Generally speaking the very high end condominiums have the least problems. Most of the residents are prompt in paying their maintenance fees for their units. Get something with too many Asians (I speak generally here) and soon the guy on the 2nd floor shouts I am not paying i don't use the lift. Also after a few years you will see how dilapidated the building gets. So let me just say if you are going to buy, buy one with a low density occupancy. Controls are better and cooperation easier.
......

Please give me one example of a "high end" condo building that is more than 10 or 15 years old and still looks nice and well-maintained, in BKK or PTY.

Taiping Towers in Sukhumvit

Why buy residential property when a multi-year global property bubble is only in the early stages of bursting?

Such assets are likely to be cheaper in 2~3 years time.

The only reason the property bubble has burst is because of the credit crunch and all its implications. I have noticed that developers are still advertising at high prices. All in all, these places are not selling and "they" are trying to call your bluff. It probably only applies to new developments. It will come to the point (if it already hasn't) where the developers will just get rid of some of these properties very quickly and very cheaply - I bet next year one will be able to buy at a fraction of the price. To put this into perspective, someone just recently was offered a new build condo in Belfast (who would live t here one asks), anyway, for literally 1/2 the advertised price. This is becoming familiar territory now.

However, when it comes to selling older properties, I don't feel the same scenario applies, as people generally will not sell until the time is right, which could be as much as 5-10 years away, if the credit crunch does not sort itself out.

The stick in the mud would be, I wouldn't trust the Thai property market for a minute, if someone offered me an apartment in Pattaya for a 1/4 of the price, and as an example, wasn't due to be finished until 2010, would you take it? There could be endless problems in Thailand with buying property at knock down prices, and one wouldn't have a clue how to tackle it. You probably get the same problems buying property in Thailand at "full price" let alone knock-down prices, although I feel at least paying full price you would have least some retribution if something went wrong.

Ocean Marina, and Krisda Golden are older buildings over 10 years old ... and look great are well maintained have great views as they are on the water so it's not like anything can ever block their view ... Krisda Golden even has a private beach and manicured gardens 24 hr beach and front gate and lobby security ... it's my understanding the former PM Thaksin owned a unit in the building.

Taiping Towers in Sukhumvit

it's in sukhumvit soi 63: http://www.kobayashi.co.th/PhotoGallery ... 1506_2.htm (http://www.kobayashi.co.th/PhotoGallery/Sukhumvit/sk1506_2.htm)

you think this is "high end"?

I don't care how "cheap" something is (or appears to be). If it goes down in value, it does not make sense to have bought it.

Like things that look cheap to idiots who think low interest rate mortgages are a "cheap good deal", given that housing prices go up, but housing prices actually go down? Sounds familiar somehow.

But I guess that's diversion of the topic from the situation of expats buying in Thailand, to the 'situation' elsewhere.

FM: I really don't give the 'proposals' much chance at all, and they aren't NEAR proposals yet. I wouldn't worry or cheer.

[sattahip-old]

Generally speaking the very high end condominiums have the least problems. Most of the residents are prompt in paying their maintenance fees for their units. Get something with too many Asians (I speak generally here) and soon the guy on the 2nd floor shouts I am not paying i don't use the lift. Also after a few years you will see how dilapidated the building gets. So let me just say if you are going to buy, buy one with a low density occupancy. Controls are better and cooperation easier.
......

Please give me one example of a "high end" condo building that is more than 10 or 15 years old and still looks nice and well-maintained, in BKK or PTY.

Sunset Heights, Ban Amphur

I first visited Taiping towers as a teenager in 1989. It was already up then. Of course designs today are very much different. Taiping has 3-5 bedrooms. It sold at around 2.5M-3.5M baht then. (now asking price 7M-10M) The older units were built on a larger scale big rooms kitchen bathrooms servants entrance. Please visit a few units and see how owners have renovated the interiors. They are superior to many new developments today which tend to go for 2 bedrooms asking price 15M in Sukhumvit.

Now that is 20 years old the pool is still blue the lift works the restaurant serves great food and overall for what it is it is run well. Don't knock this one until you see it.

The pics I atttach is around Sukhumvit 39. You may consider this High End but again there are problems with this one. Yes it looks great fancy pool in the sky lots of faulty bathrooms leakages the list goes on and on.

And the pics continue

[Lunchtime O'Booze]

[quote="Lunchtime O'Booze":2qhtgv8i] I don't see why foreigners should worry about buying if prices fall..

it's so cheap anyway I reckon if you have the spare cash it's time to snap up your piece of paradise.

(nb: there will be a tall building near Jomtien beach that looks like it may be fun)

Maybe because prices may carry on falling; because the project may not be completed; because the building may fall as well as the price; because there may be so few buyers that the maintenance charge is astronomical/ there is no maintenance, security, etc; because the infrastructure does not exist to support the number of planned projects; because the political future of the country is uncertain (at best), etc, etc, etc ???

Cheap? When a 39sqm bedsit in a semi-slum area is advertised here for rent at over ┬г400 per month and that is considered reasonable? When prices per sqm are comparable or more than in UK, Europe or the US for similar areas (as was established here some time ago and a Google search can confirm)??? If you have "spare cash" that you are happy to lose, why not save time and just give it away ???

Fun? Funny, possibly, but do you mean funny-ha-ha or funny-strange - and who for???

I am happy living here, together with my partner I own my own house and land 100% legally, but the only rational people who would advise anyone to "snap up" anything here are those who are selling, or their agents.[/quote:2qhtgv8i]

I may need someone to decipher much of your post for me as I am certainly not the most rational person..but when did you purchase and what was the market like then ?. If it's all such a property disaster are you unhappy about it or don't care ( like moi)?

"It wil not be much fun for the ones behind it LOLL,that bought there condo's with a sea view, and now the only View they will get is you cleaning your windows. hahah"

do you mind..I am the one who will be cleaning all the windows to supplement my pension.

I may need someone to decipher much of your post for me as I am certainly not the most rational person..but when did you purchase and what was the market like then ?. If it's all such a property disaster are you unhappy about it or don't care ( like moi)?

Out to Lunch,

I first bought just over 15 years ago, sold after a couple of years for a similar price, rented (very near you, actually, but in a far better location (!) with what you referred to as a "private beach", before it was sold), bought my present house 6 years ago, with some adjoining land 5 and 3 years ago and the land in the village where my partner was born, 4 years ago.

The market then (6 years ago), here, was quite reasonable, however despite the "property disaster" it is now bordering on the outrageous: nearby houses are for sale from around ┬г300,000 to ┬г1,500,000. Despite the lack of buyers prices have not come down (yet!) and one house for sale at ┬г500,000 is even advertising B & B!

I am personally perfectly happy about it, as I bought at a reasonable price (land here, some 15 minutes from Pattaya, costs about 1/20th - 1/50th of that in Pattaya) and my house is ideal for my particular lifestyle. Although I would like to move to near my partner's village it is unlikely as the nearest hospital and vet are one and a half hours' drive away, and the nearest reasonable Thai market is some 45 minutes away, so I may well end my days here, have no interest in selling and "don't care" (like toi, mon ami).

The only reason the property bubble has burst is because of the credit crunch and all its implications. I have noticed that developers are still advertising at high prices.

The global property bubble would have burst with or without the credit crunch.

The failure of those people to service the loans on over inflated property has been one of the major contributors to the credit crunch.

Developers may advertise at high prices, but only a fool would buy without negotiating 30%+ discounts in the current economic climate.

[Lunchtime O'Booze]

The only reason the property bubble has burst is because of the credit crunch and all its implications. I have noticed that developers are still advertising at high prices.

The global property bubble would have burst with or without the credit crunch.

The failure of those people to service the loans on over inflated property has been one of the major contributors to the credit crunch.

Developers may advertise at high prices, but only a fool would buy without negotiating 30%+ discounts in the current economic climate.

now we have a sensible answer...almost everything will open to negotiation in the coming days..everywhere. But don't expect sellers (of anything) to start off at the lowest price..naturally they need room to 'negotiate' until everyone's happy !!

(ps: that won't inlude 'off' prices..or will it ?)

..... nearby houses are for sale from around ┬г300,000 to ┬г1,500,000. Despite the lack of buyers prices have not come down (yet!) and one house for sale at ┬г500,000 is even advertising B & B!
......

LOL

Scott,

so were the owners/developers - at least once they had the money! As an indicator, at a recent auction of over 20 assorted properties in Pattaya where the agent had only accepted properties with a reserve at least one third below previously listed price, none were sold.

And I paid ┬г50,000 for mine, which is not your typical little box, although I had to virtually re-build it myself.