Real estate trends across Thailand’s resort markets

[Thaiger]

Where are property investors looking in Thailand at the moment? How has Covid impacted the resort property markets of Phuket, Hua Hin, Pattaya and Koh Samui? Tim Newton speaks to Brennan Campbell, CEO of Thai proptech group FazWaz, in this rundown of current and future trends in Thailand’s most popular resort destinations. And there’s a few surprises too.  

The post Real estate trends across Thailand’s resort markets appeared first on Thaiger News.

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[Freeduhdumb]

Who are these "remote" buyers the young guy in the video is talking about? They aren't "buying" anything. Foreigners cannot own homes or land, but simply lease.  I think you can build a house right now much cheaper, that is of course if you're married to a Thai and have some land. With rents low right now, it's best to just continuously lock in new long term rental contracts... it's just too cheap, convenient and risk free right now. I would say spend your time watching the markets, and when and IF we ever see a restoration of any sense of normality, meaning travel opens back up again, that will be the bottom of the market as presumably with increasing travel and things opening back up, there would, should be a restoration of real estate growth. 

[AlexPTY]

23 minutes ago, Freeduhdumb said:

Who are these "remote" buyers the young guy in the video is talking about? They aren't "buying" anything. Foreigners cannot own homes or land, but simply lease.  I think you can build a house right now much cheaper, that is of course if you're married to a Thai and have some land. With rents low right now, it's best to just continuously lock in new long term rental contracts... it's just too cheap, convenient and risk free right now. I would say spend your time watching the markets, and when and IF we ever see a restoration of any sense of normality, meaning travel opens back up again, that will be the bottom of the market as presumably with increasing travel and things opening back up, there would, should be a restoration of real estate growth. 

chill, this is an advertisement post, don't worry about content

[ThailandRyan]

Daily e-mails from Lazudi, Fazwaz, and DOT property telling me the market is heating up and because of the Railroad, and Airport Hua Hin properties are real hot now and if I want to buy I need to get a move on as prices will only increase.  You got to love the marketing campaign here.  If only there was a true real-estate board here, with accurate appraisals instead of "What the market will bear, and what people believe there property is worth", it might be a different story.  How many of the houses on the market have sat empty for an extended period of time.  Add in the fact that if you buy as a foreigner you can only lease the land for 30 years and then maybe get another 30 years added.  I now they have been saying that they are looking at allowing Foreign investors to buy house and land but there are so many ridiculous conditions they are adding it makes it sad.  

[Cathat]

Property supply far exceeds demand in thailand in most places.

Not going to go into the legality but property is easy to buy in thailand but in most locations  it is very difficult to sell.

If you are retired, financially secure with a lot of cash doing nothing and as certain as you can be you don't want to move again it's probably a good time to buy in the correct location.for anybody else I'm not so sure.

 

 

[longwood50]

29 minutes ago, Cathat said:

Property supply far exceeds demand in thailand in most places.

I would agree with that.  Now depending on who owns the homes will dictate what happens with prices.  If they are locals the likelihood is that they will just stay and hold out for the price they "think" they can get for their home.  If it is a foreigner who now finds they can't travel to Thailand without some major inconvenience and sees that continuing in the future, they may very well lower the price of their property to get rid of the expense.  If it is an investor, I suspect they will be under the most pressure to get rid of the property.  There is very little tourist traffic that would snap up rentals providing a decent investment return.  The wild card are the banks.  I suspect that there is a huge amount of unsold bank owned properties as homeowners can't afford their loan and the hose is repossessed.  If and when the banks decide to or are forced to sell those distressed properties housing prices I believe will fall quite dramatically.  Those homes are expensive for the banks to own, and maintain and the baht invested in them could be re-invested into something making the bank money rather than throwing more good money after bad. 

[King Cotton]

22 minutes ago, longwood50 said:

I would agree with that.  Now depending on who owns the homes will dictate what happens with prices.  If they are locals the likelihood is that they will just stay and hold out for the price they "think" they can get for their home.  If it is a foreigner who now finds they can't travel to Thailand without some major inconvenience and sees that continuing in the future, they may very well lower the price of their property to get rid of the expense.  If it is an investor, I suspect they will be under the most pressure to get rid of the property.  There is very little tourist traffic that would snap up rentals providing a decent investment return.  The wild card are the banks.  I suspect that there is a huge amount of unsold bank owned properties as homeowners can't afford their loan and the hose is repossessed.  If and when the banks decide to or are forced to sell those distressed properties housing prices I believe will fall quite dramatically.  Those homes are expensive for the banks to own, and maintain and the baht invested in them could be re-invested into something making the bank money rather than throwing more good money after bad. 

A great post and good reading . . . thanks for that!

[Stonker]

9 hours ago, Thaiger said:

Where are property investors looking in Thailand at the moment?

Abroad.

[Freeduhdumb]

1 hour ago, Stonker said:

Abroad.

I invested in a broad once, that was my first wife, I'll never do that again.

[EdwardV]

11 hours ago, Thaiger said:

Where are property investors looking in Thailand at the moment?

Investors is probably the wrong word. Purchasers yes, investors not so much. Investors would imply you are buying expecting a return on your money. You know an investment. Most Thai residential property doesn’t quite fall into that category anymore, or for that matter the foreseeable future.

[Rain]

8 hours ago, AlexPTY said:

chill, this is an advertisement post, don't worry about content

Sure.

The place has to derive some profit in some form or another.

I'll give 'em a little leeway along these lines.

As long as they don't overwhelm us with this shite [like some places], I'm fine with it. 

Some of us are able to discern what is real and what isn't.

Cheers Thaiger gang!!

[Freeduhdumb]

9 hours ago, ThailandRyan said:

Daily e-mails from Lazudi, Fazwaz, and DOT property telling me the market is heating up and because of the Railroad, and Airport Hua Hin properties are real hot now and if I want to buy I need to get a move on as prices will only increase.  You got to love the marketing campaign here.  If only there was a true real-estate board here, with accurate appraisals instead of "What the market will bear, and what people believe there property is worth", it might be a different story.  How many of the houses on the market have sat empty for an extended period of time.  Add in the fact that if you buy as a foreigner you can only lease the land for 30 years and then maybe get another 30 years added.  I now they have been saying that they are looking at allowing Foreign investors to buy house and land but there are so many ridiculous conditions they are adding it makes it sad.  

I think ThailandRyan has summed it up pretty well... I think the wisdom remains, don't "invest" anything in Thailand you're not willing or able to walk away from. It seems to me, it has always been the case and likely will remain the case that your "investment" needs to be in something you're going to regularly occupy and enjoy... that is your investment. 

[BIGGLES]

There is an over supply of property for sale and rent.

The property guys need to talk in positive terms, as it is their livelihoods. 

Unfortunately, the Thai property market is going to take a massive hit.

Try putting your property on the market, and see how many enquires you get. People who have money in property will struggle to see it again.

The build quality of new property is generally poor. FLASHY YES, but poor workmanship.

Don't buy anything in Thailand, not unless you can get it in your case.

Let the Thai's buy it, just rent would  be my advice, even more so, as you can hammer them on price and extras. Even better if you can deal direct with the owner, as you can save the 15/20% agents commission. Be hard faced, shy kids get nothing!