Real estate & the unrest

[TypicallyTropical]

I assume there is no "official" data available, but do you guys see a decline in real estate activity and prices in HH due to the political unrest in Thailand?

[johnnyk]

Ask the R.E. agents. No doubt they will tell you there is a stampede to buy Thai property at the moment. "Prices will only go up once things settle down. Buy now or you'll be shut out of the market!"

[hhfarang]

There has been a decline in prices and activity for two years before the current political crisis. The world financial crisis combined with massive overbuilding did it in a while back. A good percentage of homes sold here to foreigners are second (holiday) homes and most people just can't afford that luxury any more. In fact, many of the ones bought during the "good" times are now back on the market because the owners need their money back.

[TypicallyTropical]

Ask the R.E. agents. No doubt they will tell you there is a stampede to buy Thai property at the moment. "Prices will only go up once things settle down. Buy now or you'll be shut out of the market!"

Thanks for the suggestion, I was already thinking of doing that, but I ended up wth the same conclusion as you did, so I posted the question here instead!

[cozza]

I saw (on youtube) an interview with the head of CBRE in Thailand about the prices around the protest sites.

He said some are down around 30% from their peaks.

He is not selling anywhere near as much as previously.

Good time to buy but I'd wait to see how this protest pans out first IMO...

[m_right]

Prices would have to drop about 75% in Hua Hin before I would consider buying. Makes much more sense for me to rent right now.

[migrant]

In looking through a classified site of RE for sale by owners. I was surprised to see the number of condos listed.

I have looked through it over the last 3-4 years and, by far, the most condos ever are listed.

[margaretcarnes]

I have a friend who has been trying to sell a HH condo for over a year now with no success. Maybe sellers are still unwilling to drop their prices? It's a shame because condo's should provide a pretty safe option for the holiday home market, and are often much closer to town than new build housing developments.

[cozza]

My mother in-law has land titles as thick as the yellow pages and she has not had any probs selling land. She never advertises, people come to her to buy/sell land as she buys a lot.

She sells A LOT of land. Maybe its certain types of properties aimed at western/upper market that are struggling.

[johnnyk]

Obviously Thais are still buying if they can. Falangs are nervous and some aren't yet desparate enough to lower their price.