Sporty Posted September 18, 2006 Author Report Share Posted September 18, 2006 Exactly the Myopic opinion I was refering to in my previous posting. Mekong said: "Since when had farangland been Sukhumvit and Silom? Those district may be the be all and end all to naieve and uninitiated, but its not "Farangland" as I or the majority of my acquaintances know it, the Zoo Maybe but not Farangland. Where is the primary area of discussion?" Okay lets narrow it a bit, SOI 16 to 26, one side of the street maybe 3,000 new HIGER END, units just there coming online in the next year... WHO do you think are the target audience, for these condos ? Link to comment Share on other sites More sharing options...
ThaiHome Posted September 19, 2006 Report Share Posted September 19, 2006 Okay lets narrow it a bit, SOI 16 to 26, one side of the street maybe 3,000 new HIGER END, units just there coming online in the next year... WHO do you think are the target audience, for these condos ? You miss the point. In the big picture of the Bangkok housing market, your 3,000 high end condos (I think your number is exaggerated a bit), which indeed may be targeted at farang buyers (probably mostly Asian) or investors looking to rent (most likely), are a drop in the bucket. If because of the all anti-farang feeling you think exist (also known as paranoia) drives away buyers from these places, it only affects them. You think those half a dozen developers are the entire market? The vast majority of market (though not advertised in the English press, so you probably don't even know it exists) will keep on trucking as any housing market in the world, driven by factors having nothing to do with farangs or their inability to make monthly entry stamp runs. TH Link to comment Share on other sites More sharing options...
Sporty Posted September 19, 2006 Author Report Share Posted September 19, 2006 You miss the point. In the big picture of the Bangkok housing market, your 3,000 high end condos (I think your number is exaggerated a bit), which indeed may be targeted at farang buyers (probably mostly Asian) or investors looking to rent (most likely), are a drop in the bucket. If because of the all anti-farang feeling you think exist (also known as paranoia) drives away buyers from these places, it only affects them. You think those half a dozen developers are the entire market? The vast majority of market (though not advertised in the English press, so you probably don't even know it exists) will keep on trucking as any housing market in the world, driven by factors having nothing to do with farangs or their inability to make monthly entry stamp runs. TH I think the # 3000 units, is low... 10+ projects underway down the sois in that 10 minute or so walk. Asoke to Soi 26. I do not read Thai, but I can see, construction underway, all over the place. Condos, of various price range. Visited quite a few to see, them, all around, not just in the area, I mentioned. They all add into the big picture, as I see it, to much housing stock, coming online at the same time. The Real Estate lady, (Thai) owner/investor of the place I rented, for 6 months, on Soi 18 said, she and her family are not buying more, at this time, was hard to rent what she had (everyone in her family owns some). She agreed with me, to many new projects. She personally has 8 units now, 2 over 5 million. The VOA guy, is not, in the highend target market, in most cases. After saying that, a friend, in the past has always been a VOA guy, likely to change with the new ruling, as he has a Thai wife, and child, and owns 3 highend units, above 4,000,000 in his case. 1 has been empty, for more than 6 months (OMNI), with a broker, not much ROI there, for a long time to come. Bottom line, time will tell. Link to comment Share on other sites More sharing options...
ThaiHome Posted September 20, 2006 Report Share Posted September 20, 2006 I assume this VOA guy is Indian as they are one of the countries that must apply for visa on arrival (good for 15 days). Most westerners just get in line and get visa exempt 30 day stamps. Is that what you meant? Again, your examples seem to confined to a small area. In my neighborhood you cannot get a apt, either slum or high end (and we have both). Almost completly Thai, with some farangs. TH Link to comment Share on other sites More sharing options...
Sporty Posted September 20, 2006 Author Report Share Posted September 20, 2006 My VOA guy is an American. Professional Real Estate Investor. Owner of a Mortgage Company, his own money used, as the backbone of it. Has properties, in USA, and Europe, and Belize. Belize is currenty where he is focusing, not Thailand. Generally, decides to go to Thailand, within a week of actually going. Called me yesterday, Coup related, may go to Thailand, Monday next week, no ticket yet. He agrees with me, says wait for Bank Auctions. BIG PICTURE, all over Bangkok, there is loads of Middle and Highend units, going up. Time will tell, for now, I am not buying, at this time. Link to comment Share on other sites More sharing options...
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