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.
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.Originally Posted by Chao Na
(nb: there will be a tall building near Jomtien beach that looks like it may be fun)
I'm only a light drinker. When it's daylight I drink.
[quote=Lunchtime O'Booze]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.
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.
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.
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