|
|
|
THAILAND HOUSING SITUATION 2009 Property sales in most centres have slowed & but Thailand is not badly affected by the subprime crises as at April 2009. But properties may drop as people realize their financial situation deteriorates. In places like Pattaya as at November 2008 the tourism figures have dropped 50% and theres many condos not started construction and some have slowed due to the lack of buyers--Pattaya also has a gflut of buildings. More foreigners are staying home as the crises bites into all economies & Thai Banks are not saying much to help with lower interest rates & Bank fees which are over the moon -- the Thai families that owqn the Banks want to extract as much out of people as possible & even the fees to withdraw from another town are not documented and should not be passed on to account holders. It will be a buyers market next year as more Thais need to shed properties they don't need or cannot forfeit on their mortgage payments. Many condo complexes in places like Pattaya have stopped & there will be a surge of unfinished condo units soon as people are now wary of investing in condos that are not finished to completion. Developers rely on at least 22% pre sales to stay ahead of their borrowing and without unless they have the cash they themselves will end up in deep water. In Chiangmai the situation is no better and a lot of this is due to the political unrest which does not assist foreigners wishing to buy in Thailand. Some hotels have been built with thoughts of a Casino happening but theres now too many Guesthouses & Hotels.
HOUSES AND BORROWING: Thailand, housing loans make slightly above 50% of total household debt. Thailand after suffering from political crises, have not yet recouped the confidence of investors. This resulted in a drop of 5.09% in 2007 in Thailand’s house prices, down from an 8.03% increase in 2006. Housing in Thailand is a buyers market if you have the cash. The only problem is foreigners can only really buy into condos but these are bargains in the right places and locations. Thailand has gone the opposite way from NZ, USA, UK etc where salaries are not up with the rise of housing prices making it not even worth considering to buy unless you have cash. Although foreigners are unable to borrow in Thailand (can if they own a factory ) if they have cash it’s a good market. Don’t look at the Thailand situation as a rental investment as the rental incomes are not great and there are certain requirement like squatters rights so one may not get the rents if the renter refuses to pay and has nowhere else to go. But as a long term capital investment one should be able to recoup a small profit by adding features like a swimming pool which is always in demand here or a waterfall, landscaping etc. In this respect Thailand is still a good place to buy realtive to the west and may even get better depending on the government situation?. We say the best buys for foreigners who wish outright ownership is the condo. You can close the door and go on holiday whenever you want knowing the condo is safe but on the other hand make sure your condo has good security grill door. Theres many condos out there especially in Bangkok and Pattaya, Phuket & lesser in Chiangmai so one can choose what they want. However be careful and follow our Property guide to buying found on both of our websites: www.chiangmairealty.com or www.bangkokrealty.biz which will guyide you to buying here in Thailand. Feel free to ask us questions if youre not sure and if you want to bring your personal belongings to Thailand we also own a Shipping and Freight Clearance Business here in Thailand.
Check this website for all law & accounting and expats services including Call Center info and
LAND AREAS: 1 rai = 4 ngarn = 400 wah2 = 1600 m2; 1 talang wah = wah2 = 4 m2; 1 acre = 2.53 rai & 1 ha = 6.25 rai
WHY USE OUR SERVICES:
[ THAI LAW HELP SERVICE ]: We have many more properties. Just ask us. Let us broker your business or property. If we don't sell we don't charge you. Selling or wanting to Buy a Guest House, Restaurant, Business, Bar or Office then just ask us. We do not charge you to find your business. We even guide you to the best deal & help you form a company, partnership, year visa, agreements, leases, accounting services, taxation etc right to offering you FREE hardcopy promotions if you use our services.[ Thailand Property Update 2008 ] [ Thai Property speculation & subprime ] [ Thailand Property Vs the West ] [ Read Thailand Property Hedge funds ] [ Thailand Property Investing ] [ Bangkok Bank lends to foreigners ]
Check out Thai expat Law forum above Thailands only Law Forum for all your questions on Property to problems you have!! USE THE BELOW CURRENCY CONVERTER TO CONVERT YOUR CURRENCY INTO THAILAND BAHT
[ HOME ] [ Guesthouse biz ] [ Bar Business ] [ Biz advice buying ] |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Copyright © 2001 email:
sales@bangkokrealty.biz or
siam@pobox.com
|
- a unit in a registered Condominium
