| |
manowar
|
I have been told by many real estate agents in Phuket that the prices of real estate in Phuket is still holding up to its pre-Tsunami level. Is this true ? Some of the top end villas are still asking in the US 750,000-5 millions range. Is that just wishful thinking on the seller's part, or are they actually getting their prices ?
|
Thai Girls : Meet Sexy Thai Girls
Posted on: 12:56 pm on Sep. 5, 2005
|
|
Yurune
|
I think you'll find they are not getting them, but dropping their prices often doesn't come into the thought process.
I know someone who wants to sell and has dropped the price, but has still been unsuccessful.
|
Bangkok Women : Meet Sensual Bangkok Women
Posted on: 5:26 pm on Sep. 5, 2005
|
|
Isee
|
I think most sellers would have a bit of common sense and know that Phuket will bounce back sooner or later and the Tsunami will be but a memory. People buying now would use the Tsunami as an excuse to negotiate a lower purchase price to increase their overall profit when the time comes to sell.
What a seller lists their property for and what they get are two different things (wherever you are). Tsunami or not, I would still negotiate a lower price.
With the latest natural disaster's around, most people should come to the conclusion that you aren't 100% safe wherever you are in the world.
Unless the seller was desperate to cash out, why sell below. Plus, sellers have a psychological barrier selling property for less then what it has cost them.
FWIW
|
Thai Girls : Meet Sexy Thai Girls
Posted on: 5:29 pm on Sep. 5, 2005
|
|
humbug
|
Properties are still selling, somewhat slower and those with the cash to buy high end property will still buy and sit on it.
Different properties sell differently, land for example was selling below December prices because people wanted to offload it. The land was an asset thast turned into a liabilty for some as they needed cash to develop it and with the near future being a bit grim, they offload it cheaper than what the current prices were, to varying degrees based on personal situations.
But, as you asked about high end properties, yes they are still selling and yes still getting good prices.
|
Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 10:39 pm on Sep. 5, 2005
|
|
manowar
|
I feel Phuket real estate is about 30% overpriced right now. Demand is really soft, but because the high end stuffs are owned by wealthy people, they are less pressured to sell. Therefore, the high end prices did not drop but there are a lot less transactions. The mid and the lower end should be quite a bargain now. Bali is a interesting play right now becuase of the super weak Indonesian currency. Anyone looking at it ?
|
Thai Women : Meet Matured Thai Women
Posted on: 12:50 am on Sep. 6, 2005
|
|
Abrak
|
Quote: from manowar on 1:18 pm on Sep. 6, 2005
I feel Phuket real estate is about 30% overpriced right now. Demand is really soft, but because the high end stuffs are owned by wealthy people, they are less pressured to sell. Therefore, the high end prices did not drop but there are a lot less transactions. The mid and the lower end should be quite a bargain now. Bali is a interesting play right now becuase of the super weak Indonesian currency. Anyone looking at it ?
In my opinion there has been some shift up in land prices in Phuket post Tsunami. (This is not based on any personal interest of mine but based on 2 people who have been looking to sell land holdings that have finally succeeded in getting their asking price).
There is a lot of bullshit down in Phuket but I still think that, beneath it all, the market has been pretty strong. Some people have been paying over Bt20m/rai for raw prime headland which is the same sort of price as for lower Sukhumvit!!
Essentially what happened post Tsunami is that there were no forced sellers and loads of people came around looking for bargains. Developers are often farangs who seem happy to take 8-10 years to develop a project with no consideration for the cost of funds.
Incidentally owning a US$2m villa doesnt make much sense for most people. Attach a 5% cost of funds and a US$30k maintenance cost and you are looking at US$130k per annum. For that you can stay at the Amanpuri for a month.
Ahhhh well I am sure it is something to do with the fact that Phuket is closer to Singapore than Bangkok.
|
Bangkok Women : Meet Beautiful Thai Girls
Posted on: 4:48 am on Sep. 6, 2005
|
|
Broken Leg
|
Quote: from manowar on 1:18 pm on Sep. 6, 2005
I Bali is a interesting play right now becuase of the super weak Indonesian currency. Anyone looking at it ?
Most stuff in Bali will be priced in US dollars, anyway the the rupiah isn't particualrly weak against the US dollar around the same as it was 3-4 years ago.
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 5:45 am on Sep. 6, 2005
|
|
manowar
|
Quote: from Abrak on 1:16 am on Sep. 6, 2005
Quote: from manowar on 1:18 pm on Sep. 6, 2005
I feel Phuket real estate is about 30% overpriced right now. Demand is really soft, but because the high end stuffs are owned by wealthy people, they are less pressured to sell. Therefore, the high end prices did not drop but there are a lot less transactions. The mid and the lower end should be quite a bargain now. Bali is a interesting play right now becuase of the super weak Indonesian currency. Anyone looking at it ?
In my opinion there has been some shift up in land prices in Phuket post Tsunami. (This is not based on any personal interest of mine but based on 2 people who have been looking to sell land holdings that have finally succeeded in getting their asking price).
There is a lot of bullshit down in Phuket but I still think that, beneath it all, the market has been pretty strong. Some people have been paying over Bt20m/rai for raw prime headland which is the same sort of price as for lower Sukhumvit!!
Essentially what happened post Tsunami is that there were no forced sellers and loads of people came around looking for bargains. Developers are often farangs who seem happy to take 8-10 years to develop a project with no consideration for the cost of funds.
Incidentally owning a US$2m villa doesnt make much sense for most people. Attach a 5% cost of funds and a US$30k maintenance cost and you are looking at US$130k per annum. For that you can stay at the Amanpuri for a month.
Ahhhh well I am sure it is something to do with the fact that Phuket is closer to Singapore than Bangkok.
Abrak you are right. Phuket's beach front land before Tsunami was asking in the 20m/rai range (if you can find it). Some of the beach front land I looked at was swept under by the Tsunami. Just imagine having built a US 2million house there ! My guess is the market appears to be strong for now because these were deals struck before the Tsunami and maybe the huge deposits already went non-refundable so the deals went through anyway. But the key question is : are there any recent deals being made and are they being made at the same price level as before the Tsunami. We will see the real price by next years because these would have been the deals made this year, after the Tsunami.
|
Thai Girls : Meet Active Thai Girls
Posted on: 10:15 am on Sep. 6, 2005
|
|
Mel Gibson
|
Prices in Phuket, Sukhumvit ( and surrounding areas), and especailly Samui have been way over the top for quite some time.
We have a similiar situation here in Australia,, especially Sydney, the market has gone WAY beyond what is reasonable.
Time cures all these problems,, market may retreat 20% over 2 years plus inflation is + 5% for two years and suddenly property is 30% cheaper.
The notable diofference in Thailand is that most of the smaller towns have had only a small increase in price for several years, I like the look of prices for quality land in areas such as Maha Sarakarm etc
|
Thai Women : Meet Matured Thai Women
Posted on: 11:35 am on Sep. 6, 2005
|
|
manowar
|
Quote: from Mel Gibson on 8:03 am on Sep. 6, 2005
Prices in Phuket, Sukhumvit ( and surrounding areas), and especailly Samui have been way over the top for quite some time.
We have a similiar situation here in Australia,, especially Sydney, the market has gone WAY beyond what is reasonable.
Time cures all these problems,, market may retreat 20% over 2 years plus inflation is + 5% for two years and suddenly property is 30% cheaper.
The notable diofference in Thailand is that most of the smaller towns have had only a small increase in price for several years, I like the look of prices for quality land in areas such as Maha Sarakarm etc
Mel, you should stay with movie acting (even if you don't really know how to act) and not real estate speculating ( you really don't know how to speculate) ! 555555
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 2:44 pm on Sep. 8, 2005
|
|
| |
|
