Analysis of the expat and foreign-buyer property market now
Analysis of the expat and foreign-buyer property market now
I thought I would ask this question, as it has been some years since I made a property transaction. Would others with more recent experience say that there a functioning property market at the moment? A quick look just now at some of the established property websites, appears to show significantly overpriced properties, especially now with hindsight, considering the general poor standard of construction here, and difficulty maintaining them. Some of the agents are showing pictures that I remember seeing several years ago too.
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Re: Analysis of the expat and foreign-buyer property market now
In my estimation, nothing functions properly in Thailand and that includes the property market.
Most new properties are way overpriced and the second hand market is not much better.
My wife’s family deal in the commercial market which can give good returns, but it depends on location, location, location.
I see many properties advertised for Baht 20 million plus and wonder if these sellers are living in a dream world!
There are are bargains out there, fire sales and the like, but locals and developers alike, are finding it hard I believe.
Most new properties are way overpriced and the second hand market is not much better.
My wife’s family deal in the commercial market which can give good returns, but it depends on location, location, location.
I see many properties advertised for Baht 20 million plus and wonder if these sellers are living in a dream world!
There are are bargains out there, fire sales and the like, but locals and developers alike, are finding it hard I believe.
I've lost my mind and I am making no effort to find it.
Re: Analysis of the expat and foreign-buyer property market now
Yes, exactly my thoughts. Justifying a price of 20m seems to depend on a lack of knowledge on the buyer's part, which is sad to see because it supports that 'dream world' as you say.
Has the foreign-buyer market reduced though, as a result of the authoritarian regime that Thailand has descended into, or does it not make much difference? Perhaps it makes a difference to Western buyers' sentiment, but perhaps not so with other Asian buyers?
Has the foreign-buyer market reduced though, as a result of the authoritarian regime that Thailand has descended into, or does it not make much difference? Perhaps it makes a difference to Western buyers' sentiment, but perhaps not so with other Asian buyers?
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Re: Analysis of the expat and foreign-buyer property market now
The Chinese are buying.
Re: Analysis of the expat and foreign-buyer property market now
Certainly had Chinese looking at a place opposite me as they needed a translator, but they didn't buy. As far as I can tell, new owners here have been either Thai or farang, including a place to my left (Brit) and just around the corner (aussie, but they're renting out). But the places where I am definitely fall into the more affordable range.
Talk is cheap
Re: Analysis of the expat and foreign-buyer property market now
I wonder how the agents are setting up the purchases by the Chinese? Leasehold, or perhaps they have one big limited company loaded with hundreds of Chinese shareholders. Pete
Governments are instituted among Men, deriving their just powers from the consent of the governed. Source
Re: Analysis of the expat and foreign-buyer property market now
Some interesting comments, very useful to know. I just heard anecdotally today that it has become increasingly difficult for foreigners to retain land in a company structure, where the company structure doesn't show frequent business transactions. This differs from some advice I received earlier this year, in regard to limited company shelf structures still being popular. Therefore, I'm not sure what to believe. Could it be that the predominant Chinese buyers are less likely to expect legal title to the land, unlike perhaps Westerners, who are typically more comfortable with ownership.
Re: Analysis of the expat and foreign-buyer property market now
We had a very good experience with a Chinese buyer. 13 years ago wife purchased a 75% complete house from the bank. She then completed the construction, I then arranged via a friend to place an ad in a Hong Kong magazine and almost immediately, we started to get positive responses. Within a month, the eventual Chinese buyer had sent a surveyor and the house sold at the asking price. I often drive by the house and it seems like that nobody lives there fulltime.
MY in BS full of BS.
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
Re: Analysis of the expat and foreign-buyer property market now
It sounds like you did well JWW, as you deserved to from your efforts in advertising in HK. Thanks indeed for sharing that.
It raises a good point also, in that there are a number of incomplete properties which I'm sure the banks are actively attempting to relinquish. There are some developments I noticed along the west side of the canal road when approaching Hua Hin from Cha-am direction. They look quite a sorry sight, perhaps a left-over from the late 1990s financial crisis, although they do not look quite as old as that.
It raises a good point also, in that there are a number of incomplete properties which I'm sure the banks are actively attempting to relinquish. There are some developments I noticed along the west side of the canal road when approaching Hua Hin from Cha-am direction. They look quite a sorry sight, perhaps a left-over from the late 1990s financial crisis, although they do not look quite as old as that.
Re: Analysis of the expat and foreign-buyer property market now
My wife takes the credit, I was not convinced, as the remaining 25% with the garden and swimming pool cost as much as the purchase price, but in the end, she made a healthy profit.thebears wrote: ↑Mon Jul 02, 2018 5:09 pm It sounds like you did well JWW, as you deserved to from your efforts in advertising in HK. Thanks indeed for sharing that.
It raises a good point also, in that there are a number of incomplete properties which I'm sure the banks are actively attempting to relinquish. There are some developments I noticed along the west side of the canal road when approaching Hua Hin from Cha-am direction. They look quite a sorry sight, perhaps a left-over from the late 1990s financial crisis, although they do not look quite as old as that.
There are not so many incomplete properties now, incomplete developments yes, but not individual properties.
As far as I know, there was an issue with the land ownership on that development on the Klong road.
MY in BS full of BS.
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
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Re: Analysis of the expat and foreign-buyer property market now
How can i look for properties from banks?
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Re: Analysis of the expat and foreign-buyer property market now
Each bank has a portfolio but they are pretty much all in Thai. If you speak it, or have someone that does, just go in to the bank and ask. I've seen them often in the lobbies.
The proper function of man is to live, not to exist. I shall not waste my days in trying to prolong them. I shall use my time.
Re: Analysis of the expat and foreign-buyer property market now
Kasikorn has a property for sale section in English
http://propertyforsale.kasikornbank.com ... x?sLang=en
MY in BS full of BS.
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
Re: Analysis of the expat and foreign-buyer property market now
Good to hear that you have an enterprising partner. How are the majority of these Chinese buyers structuring their land ownership though, I wonder?
Re: Analysis of the expat and foreign-buyer property market now
It's mostly as PeteC said, "Perhaps they have one big limited company loaded with hundreds of Chinese shareholders."
MY in BS full of BS.
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould