News Forum - Thailand real estate danger zones: Under 3 million baht homes struggle to sell

[Thaiger]

The Real Estate Information Centre (REIC) identified ten dangerous zones for property development in Thailand, where houses and condominiums priced below 3 million baht are not selling. These areas require a selling period of between 30-78 months. The list, released today, includes Pak Kret and Khlong Luang, among others. Wichai Wiratkaphan, Inspector of the Government … …

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[Ramanathan.P]

What are they expecting with the property market? To have a windfall like the Thai lottery? At one point they are telling it is booming and just after few months they are telling it is having a nose dip dive? Property maket is always facing ripple effect from the global econmy. The impact can only be seen at least in 6 months or 1 year cycle. That is the reallity. 

[Guest1]

That is the miracle of overpricing for the average target clientgroup.

Who is interested in buying a townhouse, these days?

20 years ago, even on Phuket you could get some with car park on ground before the house and a 2-3m "backyard" (more known as soon quickly roofed kitchen area), on an about 90+ sqm plot for 1-1.5 million. Or even detached houses with small areas around, for about 2-2.5 million Baht.

But for the old ones from that time they are  now asking starting prices 3 or 4 or 5 million. Baht.

Even more, if on the westcoast of Phuket.

And in this neigbourhoods, it is more and more known, sometimes it is just better not to buy. Easier to leave it behind.

[Marc26]

We bought a house in None for 2.7million baht

 

My wife and I split the cost

 

But I told her I just would not go any higher than 3mil baht(think I said 4mil but she loved this 3mil house)

 

Because of the fact that I don't see making any profit at all

 

 

If we can't sell it at some point when we want to, let my stepson live in it

[garyknrd]

I'll buy one. Drop the price to 100 bucks and I will take a chance... :)

I will start a fake company or get a bar girl to buy it for me... No way I can loose.

[Ramanathan.P]

Better to keep the money in some investment and enjoy the fruits. That is the best way to live in Thailand. The moment one is anchored to the ground where one doesn't belongs to, it is like digging one's own grave.