Can't say I know of any Thai Rigsby's in the estates around my neck of the woods Mike, but I'm certainly no expert on the subjecttuktukmike wrote:Not quite right jockey,
They do buy but then rent out to falang, take a look at many estates.
Mike.
Where are house/property prices heading?
tuktukmike wrote:
1) I don't believe you are sorry to tell us what the "word is". I believe you enjoy it the same way bitter onlookers enjoy watching a doer missing.
2) I don't believe you are serious when you say "the informed" have sold and moved into condos near Cha-Am, because that is not a very smart thing to say. How do you define an informed? Are the criteria that they have sold and moved into condos near Cha-Am? How many are they?
By any normal definition of "informed", I think that I can count myself in. And I have not sold. Perhaps I will remind you about it in a few years. I don't think I will be sorry doing that.
What some developers are doing to help their cash flow right now is not even relevant.
I don't believe you, tuktukmike.Sorry to inform you guys but word is that many developers are offering 20% discount for quick sale.
Also as some here already know, the informed including those with multiple propertys have sold their stock and moved into condos near cha-am.
1) I don't believe you are sorry to tell us what the "word is". I believe you enjoy it the same way bitter onlookers enjoy watching a doer missing.
2) I don't believe you are serious when you say "the informed" have sold and moved into condos near Cha-Am, because that is not a very smart thing to say. How do you define an informed? Are the criteria that they have sold and moved into condos near Cha-Am? How many are they?
By any normal definition of "informed", I think that I can count myself in. And I have not sold. Perhaps I will remind you about it in a few years. I don't think I will be sorry doing that.
What some developers are doing to help their cash flow right now is not even relevant.
Surely the biggest risk right now is for buying "off plan" - you can't check the Co.s out and you're expected to invest a lot of money up front, when if their sales have been reduced or they've over-stretched their investments and can't offload, there has to be a risk that they will cut and run?
In June, I was shown one house available for re-sale, a nice house, but just not quite right for me, that had already been reduced in price to try and generate a quick sale. If others are now being reduced by 20% I'd like to hear about it!!!
In June, I was shown one house available for re-sale, a nice house, but just not quite right for me, that had already been reduced in price to try and generate a quick sale. If others are now being reduced by 20% I'd like to hear about it!!!
Talk is cheap
Jockey, Mike is right - at least the comment about Thai ownership is something I recognise. I would say it is (or was) more or less a 50/50 Thai/farang ownership split where we have our house. And I don't mean Thai wives of farangs - I include them in the farang half! Most of the Thai owners live in the houses with the remainder either renting (usually to farangs, rather than other Thais) or using them as weekend homes. I don't know how stable the Thai ownership is though as many seem to sell and move on. Either they were in it for short term profit or they can't make the repayments.Jockey wrote:Can't say I know of any Thai Rigsby's in the estates around my neck of the woods Mike, but I'm certainly no expert on the subjecttuktukmike wrote:Not quite right jockey,
They do buy but then rent out to falang, take a look at many estates.
Mike.
A comment on the pricing side of things.
I know about 12 of the main farang developers in town and all said that if the recent government decision about the registering of land was not clairified to be just for developers but for all, then yes prices would have to come down, probably by a fair amount too.
As it has turned out there is no current need to drop their prices WHILE there is the current demand.
One thing people need to understand is that while there are 20, 30 or 50 people on here, who read and are concerned at any potential risk, the majority of punters who walk through the doors of estate agents are not even aware of anything. It has to be pointed out to them (and is by the way, despite what you may think of estate agents).
Until the demand subsides, the prices will remain.
An important point to think about however, is that now the government announced it's restrictions on the developers registering new land there will be a natural 'culling' of the rapid growth of farang developers and new developements, as many fall by the wayside when their present land is all used up.
This natural slow-down of development may be in line with any slow-down of buyers.
The main busy buying period is December to April, so we can all review after that whether demand has slowed or not.
Just my two pennys worth.
Burger
I know about 12 of the main farang developers in town and all said that if the recent government decision about the registering of land was not clairified to be just for developers but for all, then yes prices would have to come down, probably by a fair amount too.
As it has turned out there is no current need to drop their prices WHILE there is the current demand.
One thing people need to understand is that while there are 20, 30 or 50 people on here, who read and are concerned at any potential risk, the majority of punters who walk through the doors of estate agents are not even aware of anything. It has to be pointed out to them (and is by the way, despite what you may think of estate agents).
Until the demand subsides, the prices will remain.
An important point to think about however, is that now the government announced it's restrictions on the developers registering new land there will be a natural 'culling' of the rapid growth of farang developers and new developements, as many fall by the wayside when their present land is all used up.
This natural slow-down of development may be in line with any slow-down of buyers.
The main busy buying period is December to April, so we can all review after that whether demand has slowed or not.
Just my two pennys worth.
Burger
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silverbird
- Member
- Posts: 73
- Joined: Tue Jun 06, 2006 10:06 am
Certainly houses will be sold to foreigners further more.
Some people will acquire property on the name of their Thai wives or gfs; a few others will take the high risk by using the company-route until this way will be closed down totally by the authorities.
However, the boom of the last years is probably finished, and that is the guilt of the government basically.
Long term-leases and the acquisition of Condos by foreigners will be more promoted and better juridical protected.
Of course, the house prices had reached an unusually high level in the last years.
With foreseeable sinking foreign inquiry, these prices will barely be able to keep.
I guess that many foreign developers can't finish their projects and will be substituted by wealthy Thai investors.
There will be always "special offers", and it's not necessarily a proof that a market collapsed.
Nevertheless, in absence of clear official regulation it will be more difficult to win normal buyers for the acquisition of land & houses in future.
From economic view the government has proved no good service to the country.
An official, may be limited permission for foreigners to buy land & houses would have had a better effect.
A good chance passed - again!
Some people will acquire property on the name of their Thai wives or gfs; a few others will take the high risk by using the company-route until this way will be closed down totally by the authorities.
However, the boom of the last years is probably finished, and that is the guilt of the government basically.
Long term-leases and the acquisition of Condos by foreigners will be more promoted and better juridical protected.
Of course, the house prices had reached an unusually high level in the last years.
With foreseeable sinking foreign inquiry, these prices will barely be able to keep.
I guess that many foreign developers can't finish their projects and will be substituted by wealthy Thai investors.
There will be always "special offers", and it's not necessarily a proof that a market collapsed.
Nevertheless, in absence of clear official regulation it will be more difficult to win normal buyers for the acquisition of land & houses in future.
From economic view the government has proved no good service to the country.
An official, may be limited permission for foreigners to buy land & houses would have had a better effect.
A good chance passed - again!
Let's all hope that's true everywhere, and they don't simply walk away with the "deposits" or pre-construction funds given them by potential buyers. I know these amounts to be as high as 60% over here in some popular, sought after areas. Some developers finance their entire projects with these funds, not with a bank. Contract?..yes there is one but will you take the next 10 years trying to find the guy, and then prosecute him in a Thai court?hogus wrote:I guess that many foreign developers can't finish their projects and will be substituted by wealthy Thai investors.
Another unfortunate tactic is when a developer initially sells too low and realizes the market is changing. He then deliberatly slows or stops construction for months, trying to convince the initial buyer to take a refund, so the developer can resell at a higher price. That practice is widespread over here. Perhaps that nonsense will all cease under these current conditions. Pete
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HansMartin
- Professional
- Posts: 270
- Joined: Tue Dec 27, 2005 7:50 am
- Location: Back Home in CA
Interesting stuff!! While the postings don't exactly answer my questions as to where prices are heading, they rasie even more concerns than I previously have had regarding buying property.
Burger makes a good point regarding most buyers, they are uniformed and will believe whatever relators and developers tell them, and there is no self-policing of these professions in Thailand that I am aware of so it is definitely "Buyer Be Ware".
Pete also makes a good point about these outrageous pre-construction deposits. Developers/builders are using this money to run their businesses rather than gettting bank loans. Of course, there is no reason to build a home expeditiously. Take 10-12 months and work off of someone else's money. Homes in Thiland aren't that complicated. My brother-in-law is an architect/builder, and while he isn't the fastest guy in the world, the stuff he builds in Thailand doesn't take this long.
Anyhow my wife and I are still thinking about buying in HH, but we are also considering other options--a cheap base in BKK near her family and then long-term rentals in HH for example, completed condos instead of spec homes, etc. There are lots of options for working around the $$/risk/quality issues relative to purchasing property in Thailand.
Burger makes a good point regarding most buyers, they are uniformed and will believe whatever relators and developers tell them, and there is no self-policing of these professions in Thailand that I am aware of so it is definitely "Buyer Be Ware".
Pete also makes a good point about these outrageous pre-construction deposits. Developers/builders are using this money to run their businesses rather than gettting bank loans. Of course, there is no reason to build a home expeditiously. Take 10-12 months and work off of someone else's money. Homes in Thiland aren't that complicated. My brother-in-law is an architect/builder, and while he isn't the fastest guy in the world, the stuff he builds in Thailand doesn't take this long.
Anyhow my wife and I are still thinking about buying in HH, but we are also considering other options--a cheap base in BKK near her family and then long-term rentals in HH for example, completed condos instead of spec homes, etc. There are lots of options for working around the $$/risk/quality issues relative to purchasing property in Thailand.
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Guess
- Deceased
- Posts: 3470
- Joined: Fri Jul 22, 2005 3:01 pm
- Location: BangSaphan. Laurasia. Sub thumb
Re: house prices
I could have picked up many other posters on this subject who are obviously completely uninformed but this one stuck out like a sore thumb.
They do not intend to shoot themselves in the foot and allow massive funds to be exrtracted tax free by crooks or they might as well give up and ban foreigners altogether. Hua hin is still a place that is worth setlling in and buying a property but like any business in Thailand do not expct to make fortunes. If that were the case it would not be Norwegians, Swedes and Brits living here but hard nosed shrewd investment bankers from Wall Street, London and Tokyo.roberto wrote:Trouble with a hua Hin forum is it gets too focussed on the immediate area.
Do you expect a Hua Hin Forum to discuss house prices in Chang Mai or Saigon then?
Of course prices will continue to rise in Hua Hin.
There is no of course about it.
It remains the most desirable area in thailand for thais to have a second home.
Where the hell did you get that information from?
It remains too the prefered destination of the worlds richest country..........Norway.
Based on what figures I do not know. Norway has a very high GDP per cap but I would hardly say that Hua Hin is flooded with Norwegians.
Markets make corrections but there's no 'bubble' in Hua Hin; look at prices in other hotspots in Thailand.
Markets make corrections. I think you are talking about the wrong kind of market here.
Hua Hin remains very good value given the prices foreigners pay at home and there's no alternative to it in Asia given its unique blend, secure borders, good infrastructure, democracy, great hospitals, english language papers, great cuisine and hospitality, liveable climate, esp Hua Hin.
Sounds like you haven't travelled much and have no idea of the prices of property elsewhere. Secure borders, where are they then? Good infrastructure, compared to Burkina Faso maybe. Democracy, 30% at least of the population votes for the party tha pays them to do so. Hitler was voted in by a democratic process. OK the rest.
The art of business and politics is the art of the possible. The market will continue to work as people find solutions to problems.
Absolute meaningless balls/
and the idea that in the global economy Thailand will kill the goose that lays the golden eggs is crazy. It wont hurt tourism. FULL STOP It was just a tightening up of existing laws. Its blown out of all proportion and if it leads to more Thais being involved in the buying and selling of land and houses thats only a good thing. I dont like doing business with purely falang enterprises and never have. It needs a bit of Thai and foreign expertise to get the product right. Otherwise we will all end up living in houses totally unsuited to the country. If you haven't bought in Hua Hin you are missing the boat and if you are waiting for prices to start to fall dream on.
There could be some truth in that last paragraph but your understanding of maket forces and Thai methodolgy requires a lot of revision. I have seen many cases of the Thais killing the goose that lays the golden egg just to preserve another one that they can make a soup from. I could give you a boring list of many thousand if not millions of examples of if you didn't do this you have missed the boat. This is what speculation is all about. The greater the profit the greater the risks.
House prices have risen sharply in recent years in many parts of Thailand. What the Thais are trying to stop is large scale money laundering operations that are extracting money from Thailand. Thay are as you say well aware that farang, and Japanese, South Korean and Malaysian tourism is a good source of income that requires support businesses run by foreingers and are maing moves to protect this.
[color=blue][size=134]Care in the community success story.[/size][/color]
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stjames1892
- Amateur
- Posts: 30
- Joined: Tue Jul 25, 2006 5:33 pm
UK MAGAZINE MENTIONS THAILAND AND HH
magazine name is homes overseas web site is www.homesoverseas.co.uk
Re: house prices
Just a rant which makes no sense to me I dont have the time to read your "millions of examples" and as for extracting money from Thailand through these "large scale money laundering operations" you read too many thrillers, or are we all funding Al Queda or the Mafia when we retile our Hua Hin bathroom?Guess wrote:I could have picked up many other posters on this subject who are obviously completely uninformed but this one stuck out like a sore thumb.
I expect people to think about the Hua Hin housing market in a wider contextroberto wrote:Trouble with a hua Hin forum is it gets too focussed on the immediate area.
Do you expect a Hua Hin Forum to discuss house prices in Chang Mai or Saigon then?
Yes there is, I am happy to let history be the judge of who is rightOf course prices will continue to rise in Hua Hin.
There is no of course about it.
from Thais who buy second homes.It remains the most desirable area in thailand for thais to have a second home.
Where the hell did you get that information from?
the list of what you don't know is no doubt a long one.It remains too the prefered destination of the worlds richest country..........Norway.
Based on what figures I do not know. Norway has a very high GDP per cap but I would hardly say that Hua Hin is flooded with Norwegians.
Scandinavians love Hua Hin look at a map you will find Norway when you find Scandinavia.No, housing markets make corrections when prices dont reflect fundamentalsMarkets make corrections but there's no 'bubble' in Hua Hin; look at prices in other hotspots in Thailand.
Markets make corrections. I think you are talking about the wrong kind of market here.
Ireland, france, Italy, germany, belgium, switzerland, Hong Kong, Singapore, USA, Russia, India, greece, Iran, Afghanistan, kashmir, Laos, Vietnam, sweden, thailand, owned 8 houses in five of those countries. I refer you once again to the map to find the borders, you will find they are secure ones. You need to get out more of course thailand has a good infrastructure compared to nearby countries and what has Hitler to do with the Hua Hin housing market or have you discovered his bunker in your garden?Hua Hin remains very good value given the prices foreigners pay at home and there's no alternative to it in Asia given its unique blend, secure borders, good infrastructure, democracy, great hospitals, english language papers, great cuisine and hospitality, liveable climate, esp Hua Hin.
Sounds like you haven't travelled much and have no idea of the prices of property elsewhere. Secure borders, where are they then? Good infrastructure, compared to Burkina Faso maybe. Democracy, 30% at least of the population votes for the party tha pays them to do so. Hitler was voted in by a democratic process. OK the rest.
Sorry you cannot understand englishThe art of business and politics is the art of the possible. The market will continue to work as people find solutions to problems.
Absolute meaningless balls/
They do not intend to shoot themselves in the foot and allow massive funds to be exrtracted tax free by crooks or they might as well give up and ban foreigners altogether. Hua hin is still a place that is worth setlling in and buying a property but like any business in Thailand do not expct to make fortunes. If that were the case it would not be Norwegians, Swedes and Brits living here but hard nosed shrewd investment bankers from Wall Street, London and Tokyo.and the idea that in the global economy Thailand will kill the goose that lays the golden eggs is crazy. It wont hurt tourism. FULL STOP It was just a tightening up of existing laws. Its blown out of all proportion and if it leads to more Thais being involved in the buying and selling of land and houses thats only a good thing. I dont like doing business with purely falang enterprises and never have. It needs a bit of Thai and foreign expertise to get the product right. Otherwise we will all end up living in houses totally unsuited to the country. If you haven't bought in Hua Hin you are missing the boat and if you are waiting for prices to start to fall dream on.
There could be some truth in that last paragraph but your understanding of maket forces and Thai methodolgy requires a lot of revision. I have seen many cases of the Thais killing the goose that lays the golden egg just to preserve another one that they can make a soup from. I could give you a boring list of many thousand if not millions of examples of if you didn't do this you have missed the boat. This is what speculation is all about. The greater the profit the greater the risks.
House prices have risen sharply in recent years in many parts of Thailand. What the Thais are trying to stop is large scale money laundering operations that are extracting money from Thailand. Thay are as you say well aware that farang, and Japanese, South Korean and Malaysian tourism is a good source of income that requires support businesses run by foreingers and are maing moves to protect this.
Nearly sold up in the UK and bought in Zimbabwe when it was on a climb
Glad I didn't Look at the place now
Not saying they are comparable but anyone remember the Asia bubble bursting in 1987?
My bank manager tried to convince me to switch my blue stock investments at that time and make a kill on the Asian market. I backed off and saved a lot of money as a result
Never trust a b(w)anker
Glad I didn't Look at the place now
Not saying they are comparable but anyone remember the Asia bubble bursting in 1987?
My bank manager tried to convince me to switch my blue stock investments at that time and make a kill on the Asian market. I backed off and saved a lot of money as a result
Never trust a b(w)anker
RICHARD OF LOXLEY
It’s none of my business what people say and think of me. I am what I am and do what I do. I expect nothing and accept everything. It makes life so much easier.
It’s none of my business what people say and think of me. I am what I am and do what I do. I expect nothing and accept everything. It makes life so much easier.