Faustian Posted May 30, 2009 Report Share Posted May 30, 2009 New condo project in Ratchyothin..."Wind".... Units sold off the plan for 3.75 million Baht.... Some enterprising Thai's are selling theirs on for 5 million Baht.... They just paid the deposit....it isn't finished yet, wont be for several months....so some are still trying on the con.... If you look on the farang orientated websites for condo's, there hasn't been any reduction....people are still trying on the con. Some units have been listed since summer 2008...no buyers and no reduction. Pisses me off. Report in the Bangkok Post (I think) saying the property market is on the up and showing signs of recovery. Where are the discounts? Link to comment Share on other sites More sharing options...
cavanami Posted May 30, 2009 Report Share Posted May 30, 2009 Some 31 sq m units were selling off the plan for 600K Baht, now they go for 850K Baht Link to comment Share on other sites More sharing options...
cheekyboy Posted May 30, 2009 Report Share Posted May 30, 2009 how are the FLs in the Nana car park dealing with the squeeze ? are they cutting or upping ? and are the gals regulars still paying the same rate or cutting back ? Link to comment Share on other sites More sharing options...
cheekyboy Posted May 30, 2009 Report Share Posted May 30, 2009 and how are the mia nois and giks making out ? are they being asked to take a cut ? Link to comment Share on other sites More sharing options...
buffalo_bill Posted May 30, 2009 Report Share Posted May 30, 2009 This is important : While at [color:red]normal[/color] times the mia nois might graciously be willing to be entertained by elderly sponsors it is now the threat of a an economic downturn which might make them realise the hardship of working at 7/11 filling up the shelves . Therefore , the economic crisis is strengthening love . Did anybody consider this ? I bet nobody did . ( Nok is different ) Link to comment Share on other sites More sharing options...
buffalo_bill Posted May 30, 2009 Report Share Posted May 30, 2009 Hehe , good idea cheekman Link to comment Share on other sites More sharing options...
HeartThais Posted May 30, 2009 Report Share Posted May 30, 2009 as you so rightly say : it is Bangkok being partially overpriced and not Thailand . You may look into China where 3 or 4 hubs are same same expensive or take Moscow or Lisbon or any other dominant city in a relative desert . Prices are skyrocketing at boom time and collapse during a depression . I love bkk but I wouldn't compare it to Moscow. Shanghai perhaps but apples to apples, I think Shanghai is cheaper by 25%. Link to comment Share on other sites More sharing options...
Partyguy Posted May 31, 2009 Report Share Posted May 31, 2009 I had a room at beach resort that I paid THB 3,500 a night for this time of year last year on Koh Samui for THB 1,500. And the room was better this time. What resort was this ?? Link to comment Share on other sites More sharing options...
cavanami Posted May 31, 2009 Report Share Posted May 31, 2009 Shanghai can be very expensive; hotels, restaurants, apartments, etc. If you live like a "native", then can be very cheap, similar to BKK. The ladies around the better hotels are expensive, more so then BKK. Link to comment Share on other sites More sharing options...
Gadfly Posted May 31, 2009 Author Report Share Posted May 31, 2009 Units sold off the plan for 3.75 million Baht.... Some enterprising Thai's are selling theirs on for 5 million Baht.... They just paid the deposit....it isn't finished yet, wont be for several months....so some are still trying on the con.... I am sure what you say is true in the sense if the "selling" price is the asking price, but are they actually selling at those prices? I see a few things here: There a large number of projects just shy of completion, the developers see other projects coming up, they are running short of financing, they need money to avoid a disaster. The number of prospective buyers has dropped dramatically. Lots of Thais bought off of plan (when they were employed) thinking they would re-sell at a profit and this worked for years - much longer than I thought it would have. But now they have several things working against them: First, a major downturn in the Thai economy. Those prospctive buyers aren't out there. And some of those Thai buyers may no longer be employed. Second, more units coming on line all of the time. These projects take years, and projects started a few years back when everything looked great, are now coming on-line. I am sure the owners are loathe to sell at discounts, but I am starting to see some movement. Its much less transparent here than in the US. They were able to flip and flip and make profits and presumably expect to do so in the future, but now they are facing very unpleasant choices in a very unpleasant enviornment. I am starting to see movement, but negotiations are really tough. All sorts of games and crap, but if you hang tough by setting a line and walking away if they won't be reasonable, I think there are good prospects now for condos. Just don't sign anything unless you are absolutely clear that you understand it and it covers everything in the deal. They'll say the documents says one thing, but it will actually say something else. Don't rely on local sellers to keep their word on anything. Don't do things the "Thai way" - if you hear that, you know they are conning you. Stay cool and let them loose their temper when you want budge on price or terms, and you insist that you wan everything spelled out in writing and in English only - if its English and Thai, the Thai prevails even if the English language agreement says otherwise (think about it: what is the Thai judge going to read and rely on?) Link to comment Share on other sites More sharing options...
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