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BANGKOK 20 January 2019 23:47
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There is a staggering $41 BILLION in unsold property in Thailand

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There is a staggering $41 BILLION in unsold property in Thailand

By The Nation

 

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A total of 454,814 residential units across the country were left unsold last year, with a total value of US$ 41 billion, according to Sopon Pornchokchai, president of the Agency for Real Estate Affairs, said yesterday.

 

The unsold units in Bangkok constituted 40 per cent of the total units left over from last year and 55 per cent of the total value. 

The total number of housing units developeed in 2018 was 26,224,081. The number of units by private developers amounted to 454,814 units or 1.73 per cent of the total existing housing stock.

 

 These 454,814 units could be absorbed within 2 years. Consequently, the number of units sold each year could reach 227,407 units. 

 

Source: http://www.nationmultimedia.com/detail/Real_Estate/30362000

 

 
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-- © Copyright The Nation 2019-01-12

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And yet, they continue to build apartments like crazy around mid sukhumvit, huge projects each unit costin mega millions, maybe they have different outlook on the above article...

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Yep and it's teetering on the edge .. Too many investor/speculators loaded up to the max on debt not wanting to miss out .. But an in increase in base rate which is being mooted will start off the crash chain reaction that becomes difficult to put the brakes on until a sense of reality comes to the market .. 

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17 minutes ago, BestB said:

I do not see how another 97 would negatively affect foreigners in Thailand . If anything would double their spending money.

I have worked in economically depressed countries. If all you're doing is drinking Leo and watching footie then likely it would not affect you. If you have pursuits it does affect you.

Edited by LomSak27
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3 minutes ago, LomSak27 said:

I have worked in economically depressed countries. If all you're doing is drinking Leo and watching footie then likely it would not affect you. If you have pursuits it does affect you.

Pursuits like what ? And what are Economically depressed countries ? UK? US? Australia ? 

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Remember  reading  posts similar  to this ten years ago..... Also why are land offices all over the country jammed  packed everything day of the week, that's a far better indicator than how many lights are on at night 

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Does that mean its a bubble ?, cannot sell, raise the prices !

regards Worgeordie

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