Ghastly.Originally Posted by Laowai
New developments everywhere you look and the very real prospect of the Thai Baht devaluing sharply in the coming year.
You would have to be really daft to buy anything just now.
Migrated
fixed it for you.
Imodium can't stop me.
After almost a decade here I understand why Thais buy cars in preference to property.
At least you can sell a secondhand car.
So fewer USD to buy more baht?
Sounds like a good thing to me; will have to check out Air Asia flights...
The Black List looms...
Govt pushed for laws on money laundering - The Nation
...and when the banks have a dedicated money laundering officer, just how much will it take to bribe him/her to pass a suspicious transaction?
...the op is old news: SD and I bought a condo in 2010 and have been following unit prices in our building since then...to date: a 10-15% increase in asking price for studios and one-bedrooms...who knows what the future holds, but that could be said of any market...silly post...
...majestically enthroned amid the vulgar herd...
IT does, unless you brought foreign currency into Thailand to buy property.
Asking prices are one thing... Its the getting price that is important.
This is it... The apocalypse.
bought my condo almost 4 years ago for 1.1 M and put it up for rent or sale for 1.65. I got two offers for 1.5... but rent is okay by me.
as for my house, I do not know...
"Having sex is like playing bridge. If you don't have a good partner, you'd better have a good hand."
- Woody Allen
This. I've noticed condos that are 6-8 years old in Bangkok usually rent for a discount of 30-40% relatively to condos that are recently built. I don't know about selling prices, but the lower yield would imply a lower selling price. Supply keeps growing and competition from newer, better-quality units will drive down the price of old units in a highly competitive market. It's a buyer's market, and I doubt that will change unless Thailand changes its foreign ownership laws or developers stop building.
Ain't that the truth. And not just for property. What it's worth is whatever you get for it. And since you don't know what it's worth till you sell it why even say the words: This is worth .....
Too true.
It was a bit odd and lucky for me.
I took over CAD when it was pretty high relative to the baht, and then renovated up a little place I had bought a few years before. My family then lived in it a few years and I sold it when the baht was high. I basically got out what I put in (purchase+renovations). [So I guess my family lived rent-free for about 4 years, if we look at it that way...]
What's the point of the story? I don't know....
If I could do it all over, however, I would have just rented...
IA
I don't think Bangkok condo market is overvalued or undervalued.... in any case that should be the least of your worries if you own one.
What worries me is the maintenance that goes downhill after a few years and I had brought this up before in which tomcat assured me that management in his condo does take a good care of such issues. Maybe it's true for his condo, but a lot of condos in Bangkok look terrible after only a few years.
I noticed this too, and I only looked at about 7-8 buildings in BKK. The lobbies etc. are still quite clean (the Thai are very clean people IMO), but chipped tiles, scuff marks, broken ornaments, etc. aren't really replaced with any particular zeal.
...that is a fact: the juristic person sees to general upkeep in a timely, efficient and thorough manner...however, the older buildings we looked at varied in maintainance and appearance...new was the best way for us to proceed as we intend to keep the condo for rental even if we move out for more fabulous digs...
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