Property prices - how now White Desire?

I recall WhiteDesire telling us how he had recently refinanced his investment property in Singapore - bank-fees-t16099.html (http://www.sawatdee-gay-thailand.com/forum/bank-fees-t16099.html) - when I read today that in January just 135 private properties changed hands in Singapore - down from 6180 in May 2007. Credit Suisse property analyst Tricia Song expects the vacancy rate to hit 15%, pushing rents and prices through the floor. Song is also forecasting that up to 200,000 expatriates will leave by the end of 2010, which will further depress the economy

Where Singapore property prices go, can Thailand's be far behind?

I recall WhiteDesire telling us how he had recently refinanced his investment property in Singapore - bank-fees-t16099.html (http://www.sawatdee-gay-thailand.com/forum/bank-fees-t16099.html) - when I read today that in January just 135 private properties changed hands in Singapore - down from 6180 in May 2007. Credit Suisse property analyst Tricia Song expects the vacancy rate to hit 15%, pushing rents and prices through the floor. Song is also forecasting that up to 200,000 expatriates will leave by the end of 2010, which will further depress the economy

Where Singapore property prices go, can Thailand's be far behind?

Good question, but in my view the Singapore Chinese have a markedly different view to investment than the Thai Chinese, many of whom are in denial of their Chiu Chow roots. The ThaiChi have been hanging onto empty property with inflated book prices as long as I can remember. I'm not sure that the new situation changes that. Zero rental/sale income can't go lower. Or can it? I know there is an argument, based on borrowing against book, that subverts that though.

Well Hom, not that I'm interested, I hope you are ok, you ************************************************** *** (I think that is enough beeps).

Anyway, lets see what bullshit I can come out with today to mix with yours.

I have noticed that in Thailand and in the UK, where I have concentrated on property for a few months now that property is mixed in terms of their prices. Yes, there are deals to be made, but a lot of developers in the UK are not dropping their prices dramatically, ok there are exception(s) to the rule and I have seen some good deals going on, especially in the provincial cities, I can't put a percentage on it and there might be a few deals going on, but I haven't noticed any. Developers and prospective sellers, I think know that at some point there will be a turnaround and they are waiting, after all it's the banks that are being "sticks in the mud" by not borrowing. I noticed an apartment for sale in my hometown here in the UK for the price of 124,000 (UK pounds), now, it was the same price 2 years ago. So, a mixed bag.

Now, onto Thailand, basically the same is happening there, overinflated prices that are not coming down even though there is a worldwide recession, along with the appreciation of the bht to the UK pound (and other currencies, but I haven't kept my eye on them lately) and still property is being offered at overinflated prices. And "they" are not giving up on these overinflated prices. I'm not predicting what will happen in Thailand as I don't think they know themselves!!

Singapore is in recession for sure and has been for some months, yes, I bought a property there for investment, but also bought to live in, so I'm not particularly concerned. At the moment, there is certainly equity in it, well actually, I don't think one can set a value to a property at the moment.

All for now.

[catawampuscat]

As long as oil prices stay down, the overflow cash from Russia and the
Arab countries will be just a memory and all those high end condos put
up or being put up will suffer.
Dubai is said to be full of building cranes that have stopped work and
perhaps the biggest balloon bursting of real estate property in history..

You don't hear much about the tallest condo building in the world anymore
and the touts have gone quiet.
Now, if oil skyrockets again and something unforeseen happened, perhaps the tide will turn but for now real estate speculation sure looks like a fools game. :cat:

I noticed an apartment for sale in my hometown here in the UK for the price of 124,000 (UK pounds), now, it was the same price 2 years ago.

At the moment in the UK, the FOR SALE price & the actual price struck on a deal vary markedly. I know of buyers negotiating 30% off when buying brand new houses.

I noticed an apartment for sale in my hometown here in the UK for the price of 124,000 (UK pounds), now, it was the same price 2 years ago.

At the moment in the UK, the FOR SALE price & the actual price struck on a deal vary markedly. I know of buyers negotiating 30% off when buying brand new houses.

Many new developments round and in London are shifting due to deep discounts and equity share deals.

Ultimately whenever the bottom of the property cycle is reached, there will be good buying opportunities for astute investors who have managed to keep piling up cash during the recession.
I figure that time is a long way off for some countries.

Ultimately whenever the bottom of the property cycle is reached, there will be good buying opportunities for astute investors who have managed to keep piling up cash during the recession. I figure that time is a long way off for some countries.I gave up my plan to rent a condo in Pattaya when I worked out that I didn't want to spend any time living with the Pattaya Pensioners. I certainly won't be buying property anywhere in Thailand for at least a few more years.

[Wazza]

The rumor mill has the Oceans 11 come Tower developers have fled the scene with the deposit monies. Also leaves a gaping hole in the PGF donor list

[Dboy]

The rumor mill has the Oceans 11 come Tower developers have fled the scene with the deposit monies. Also leaves a gaping hole in the PGF donor list

Ocean 1 project failed last august/sept. Have been curious where the money went.

dboy

Ocean 1 project failed last august/sept.

Is that official, or just a rumour? I am anything but surprised, as I have been a vocal sceptic on this particular project since its inception, but there are a number posting here who have staunchly maintained the success and progress of the project (and even claimed "insider" knowledge).

The agents are non-comittal/non-responsive to specific questions, and according to http://www.thaivisa.com/forum/Ocean-1-S ... 35344.html (http://www.thaivisa.com/forum/Ocean-1-Scrapped-t235344.html) the position is anything but clear.

Surely it cant be true? No Elton John in the sky with diamonds?

Whats the world coming to!

... No Elton John in the sky with diamonds? ....

Oh come on. Does anyone really believe Elton John had anything to do with this boondoggle. I mean Elton John trolling around Pattaya? Gimme a break...

The whole project had the air of the kind of fantasy you see in toppy markets. Did anyone seriously believe one of the biggest condo towers in the world was going to be built in a dump like Pattaya - the Brothel-by-the-Sea?

Now economic reality is setting in.

The deafening sound of silence from the developers is telling.

[x in pattaya]

The rumor mill has the Oceans 11 come Tower developers have fled the scene with the deposit monies. Also leaves a gaping hole in the PGF donor list


Maybe that means that the Dreaded Ned message board can reopen. And, maybe Kevin Quill will get a room-mate?

Did anyone seriously believe one of the biggest condo towers in the world was going to be built in a dump like Pattaya - the Brothel-by-the-Sea?

One person of note here certainly did!