Jump to content

Property Boom and Bust Cycles


gobbledonk

Recommended Posts

[color:"red"] Surely, I think with prices like that, they are far out of reach for most Thai people. [/color]

 

Except most Thais are financing these at very favorable rates. A friend just bought a condo for 1.5 mil. She put 40,000 down and will pay on average around 5,000 a month for 25-30 years.

 

All they needed wass proof of income of 15,000 baht per month, and the down payment.

 

Not a bad deal, and affordable for many Thais.

Link to comment
Share on other sites

  • Replies 23
  • Created
  • Last Reply

I agree with you on this and would say that the other thing to consider, especially true in Pattaya, is that farangs can own condos in their own name so the prices are kept higher.

 

Link to comment
Share on other sites

There are many condos that are cheap to purchase...Pattaya is overstocked with condos therefore prices kept to a minimum. If you want to succeed in the investment market in Pattaya you should look at presentation, location and price.

Link to comment
Share on other sites

I bought a town house in Pattaya 1 year ago for 500 000 baht

its now worth 620 000 baht well thats what they are selling for now anyway, also I could have got 100 000 baht rent for the year as well, so in the period of 1 year 220 000 baht profit on a 500 000 baht investment is unbelievable, just got another one last month in Chok Chai village....

Link to comment
Share on other sites

Artiew,

Yes damn it. The funny thing is that they think that someone like me will go buy all land available in Thailand and then kick out all the thais...mmm

Artiew, is that a picture of your beast in the corner?

Link to comment
Share on other sites

LoL ! If I could afford the fuel for the race-bred 340 that powered the 'Cuda, I'd almost be willing to risk the police escort that one is guaranteed with a car like this in SE QLD :)

 

Like most working guys, I can only fantasize. There are a few petrolheads on the board - check out a couple of Fast Freds earlier threads. The Australian government does everything it can to make owning a older V8 as expensive as possible : burns me up when I look at the prices Americans pay for parts and fuel, although the purchase price of things like (roadworthy) Camaros and Mustangs is surprisingly competitive here in Oz.

Link to comment
Share on other sites

Artiew,

As this is not the right thread let me tell you my waste of money on cars. I bought the EB GT Falcon a few years back cost me $70,000. What a waste. Insurance was at $4500, I was going broke really fast. Apart from that, a drive down to Bondi on a Sunday nite would turn into being pulled over by every tom dick and harry cop. Got sick of that and sold up after 3 years for a weasly $40,000. Purchased a commercial property in Sydney for $295000, sold that this year for $850,000. Best thing I did! :)

Link to comment
Share on other sites

So, you lost $30,000 on a car and made almost $600,000 on a single property investment ? Sounds like its time you invested in the NEW GT, a steal at under $60,000 !

 

Seriously, I'm beginning to wonder how much longer Sydneys market can go on making these kind of returns : even the Hong Kong Chinese have a limited number of zeroes on their bank balances, and the banks will eventually reassess their exposure and start reining in the big loans.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.


×
×
  • Create New...