FreeTime Posted September 18, 2009 Report Share Posted September 18, 2009 Recent article from Global Property Guide on the Thai residential real estate market. Lots of interesting links on left hand bar: http://www.globalpropertyguide.com/Asia/Thailand/Price-History Link to comment Share on other sites More sharing options...
Tiger Moth Posted September 19, 2009 Report Share Posted September 19, 2009 From the article, CBRE reported that foreign demand for residential properties had dropped by up to 90% by June 2009. This would imply that there are bargains to be had in areas that rely on foreigners - Phuket, Koh Samui, Pattaya. And, this has been my experience. About 3 months ago, I began looking for a house to rent in East Pattaya, also known as the "Dark Side". Basically, I would drive up to a development and ask the security guard if there were any homes to rent. In most cases the answer was yes and I was allowed to drive into the development and look around. Many, many unoccupied homes for rent or for sale. A buyer's/renter's market for sure. I had a couple of very desirable prospects when I asked the security guard at the development where I now live, are there any houses for rent? He said, two houses - one for 35,000 baht a month. This is the house I currently live in - but, I am paying twenty thousand baht a month. The wealthy Thai family that owns the house simply didn't want it sitting empty. The development has about 40 homes. It has a fitness center, a lovely open area playground for children, a pool area that contains a very large and lovely pool, sauna and steam rooms. The house is furnished with expensive traditional Thai furniture - not the typical junk furniture - it has 3 bedrooms, 3 bathrooms, a living room, a dining rooom, a large western kitchen, a large well designed TV room, a very large open area (big enough to play table tennis), a very decent amount of land with lovely trees and flowers..... I would like to mention that I had an similar house, but, with its own swimming pool (large, very nice pool) offered to me at the same price. But, I chose the house I am in because the development has nothing on either side - so lots of nice breeze and no noise from the surrounding area. If you are thinking of buying and you are good at negotiation - I would think now is the time! Or renting, same thing. The owner of my house, as I said, very wealthy, would be very happy if I continued to rent here - the previous occupant stole all the furniture and was never heard from again - imagine that in Thailand!! Link to comment Share on other sites More sharing options...
ozpharlap Posted September 19, 2009 Report Share Posted September 19, 2009 Checked out the properties for sale. It seems that the prices asked for are over inflated. I will start the property merry go round next week. Link to comment Share on other sites More sharing options...
Bar4 Posted September 19, 2009 Report Share Posted September 19, 2009 Payment for new residential properties is tax-deductable until THB300,000 (US$8,884). Mortgage interest expense is tax-deductable up to THB100,000 (US$2,961) a year. Wally World. Link to comment Share on other sites More sharing options...
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