Noticeable downturn in Thailand

Whilst there have been a few people that have given their opinions on this subject, would be interested to know if there really has been a downturn in Thailand and what sort of areas has it been affecting. Certainly, the property market in Thailand has taken a downturn. Not sure about other areas, i.e. beer prices, hotel prices, "boyz".

Thoughts/opinions.

[giggsy]

i have not noticed any "reduced" pricing on the estate agents prices online.. have you?

i have not noticed any "reduced" pricing on the estate agents prices online.. have you?

No, but I think you'll find that buyers have a bit more bargaining power now then they did eight months ago. 20-25% off of asking prices is becoming more common, or so I'm told.

[Up2U]

i have not noticed any "reduced" pricing on the estate agents prices online.. have you?

No, but I think you'll find that buyers have a bit more bargaining power now then they did eight months ago. 20-25% off of asking prices is becoming more common, or so I'm told.

Might be true with houses as that market has been soft (or dead) for quite some time. Condos on the other hand still seem to be holding up well. Unlike other real estate markets sellers here in Pattaya would rather have no sale than to sell at a substantial discount. Of course, there are alway hardship sales (e.g., farang repatriates for medical reasons)if you are lucky to find one.

I have'nt noticed any reductions whatsoever online, or wherever with regard to property including condos. A lot are being advertised still at prices seen generally a year or so ago.

However, I certainly would not buy in this market, not just yet and if I did see a house or condo that suited me, I would drop the price by 30%, some new developments in the UK are offering 50% discount on their original price.

It's very difficult in these times to ascertain what is marketable value of a property. But I certainly wouldn't buy anything at the prices being offered initially, whether on the internet or newspapers.