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Fears that the condo bubble is about to burst in Bangkok - especially if foreigners pull out

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They keep saying there is a bubble year after year. 

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22 minutes ago, PingRoundTheWorld said:

Doesn't matter if you have money if you're under 50. I have money, on METV, and I'm worried every time I enter the country whether they're going to let me in or not. I'm in Philippines right now about to fly to BKK soon - I booked a ticket through Singapore, in the morning, just so I don't have to spend time in the detention center and can fly right back to Singapore same-day if they deny me. It's quite ridiculous that I have to plan my flights based on the possibility some rogue immigration officer may or may not have a bad day. Getting so tired of this shit I'm actually considering moving countries.

I'm pretty sure he was refering to the Thai Elite Visa.  More so when in the context of "money". 

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3 hours ago, peter14 said:

am already  selling  2 of my  condo !!!  Any buyer  ?as  they  treat me shit  saying am not tourist when i come stay there.  

we are all tourists ... nothing more, if you are here 1 day or 40 years

 

the right to spend all your money and go back ...

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3 hours ago, geoffbezoz said:

Well the "experts " on this forum have been denying it for ages, mainly I suspect because they invested heavily and don't want to admit they will lose money. Also many of these self same "experts" have been predicting that the Thai economy is sound under the current regime and won't falter.

 

Well let's see once the Thai economy goes into free-fall due to the policies of the current puppet government including spending on military hardware yet wanting a 2020 fiscal budget with higher deficit forecasts,  exports suffering due to the policies of the last few years artificially ensuring that the baht is too strong, let's see how the many experts fair then.

 

It would appear that several voices within Thailand are now becoming realistic as to the Thai economy's weaknesses and the reliance upon foreign buyers, notably the Chinese, to artificially increase demand, thus pushing up condo prices, so all I would ask is ;  Where are the shops selling those rose tinted glasses that once worn eradicates all common sense and economic pointers ? Perhaps those so called "experts" on this forum could advise where they bought their own from 😉

 

 

You seem to forget in your misguided rant against the current government that it all started to build up in around 2000, and got not much to do with the current government but mostly with a group in Thailand hellbent on money only and gambling heavily.

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Not allowing someone to enter who has the METV is pretty inexcusable imo. Are there any reports of this? I have heard stories of people being denied entry on a SETV (happened to a good friend even though he had plenty funds) but not the METV. The requirements for this visa are quite stringent. In fact, i was unable to meet them myself as i am under 50 and retired (no letter of employment). In London, you need a letter of employment or tax return if self employed, a bank statement showing GBP 5000, proof of accomodation in Thailand and a return ticket. With these requirements i really cannot understand how one could be denied entry.

Edited by MartinBKK
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9 minutes ago, spidermike007 said:

I do not want to sound like a doom and gloom forecaster, but I see the property market worldwide, nearing a rather substantial correction. Many markets are so overpriced, there is little to justify the current levels. In the US, many large markets are already starting to drop. Even a year ago, the top end of the NYC market went from a unit selling within 15 days, to the current average of 450 days. And that is with a 30% discount. So, things are about to change. I would imagine the Bangkok market will correct. But, probably not as much as the markets where financing is used heavily. 

I think for thai condos most are financed, it's only foreigners here buying with cash as we can barely get a loan.

All my landlords over the years used my rental income to pay off their mortgage afaik.

 

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3 hours ago, Metapod said:

Hoping for a crash so that I can buy-in

Same here.

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