Property Market goes into decline

[Brad the Impala]

Property market goes into decline

(Agencies) - With consumers feeling gloomy over the outlook of post-coup Thailand, the kingdom's nearly six-billion-dollar housing market has shrunk for the first time since 2000, industry experts say.

"People are delaying buying property due to a lack of confidence in the economy and politics," said Atip Bijanonda, president of the Thai Condominium Association.

Sales in the residential property market, worth 200 billion baht ($5.8 billion), dropped by 10 billion baht in the four months to April this year, marking the first decline since 2000, the association said.

The figure has rattled the industry, which saw demand nosediving during the 1997 Asian financial crisis.

Atip said he expected more bad news with Thai consumer confidence stuck at a five-year low.


http://www.bangkokpost.net/breaking_news/breakingnews.php?id=119022

Incidentally, surely the thread comparing the bubble bursting in Florida condominiums with the Thai condo bubble, should have been allowed to remain on the Gay Thailand forum.

Easy to second guess the moderator I know, but not always easy to follow the rationale.

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Easy to second guess the moderator I know, but not always easy to follow the rationale.

Almost impossible, in my experience, if it's Jinks

[Aunty]

Incidentally, surely the thread comparing the bubble bursting in Florida condominiums with the Thai condo bubble, should have been allowed to remain on the Gay Thailand forum.

Easy to second guess the moderator I know, but not always easy to follow the rationale.

Sorry, Brad, but I actually posted the South Florida condo thread directly into the o'seas forum when I first posted the topic. So this is one time when Elephantspike is innocent of all charges. (but let's beat the crap out of him anyway :cheers: )

Well only partly innocent, because what you're alluding to did go through my mind as I posted the topic. I thought of posting it to the Thailand forum, but figured it would only get moved as it was not strictly about Thailand. I only posted this topic in the first place as I believe it is same same for Thailand, and Pattaya in particular. Perhaps Elephantspike could consider moving that thread to here?

I think the whole real estate thing in Thailand is an unfolding story, and given how just 12-months ago we had all sorts of ex-pats rushing in to buy condos, despite clear warnings not to do so because the market was way too overheated, and then came all the BS about Thai nominee company rules, it's an important story for this forum too.

[lonelywombat]

I hope all you greedy bastards lose ya money !

I think slum landlords like wx40afp, should hesitate in calling others greedy bastards.

I hope all you greedy bastards lose ya money !

Come now, Billy...try keeping yourself in sufficient supply of white loafers and you'll see that it's not easy on a working man's salary!

I hope all you greedy bastards lose ya money !

Come now, Billy...try keeping yourself in sufficient supply of white loafers and you'll see that it's not easy on a working man's salary!

1 BG is enough without cloning another 4!

:drunken: