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Pattaya: "Zero" tourists - last remaining Russians have cancelled and tourism industry faces 80% closure for up to a year

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2 minutes ago, RJRS1301 said:

Well hopefully those countries which need them.

But Pattaya being empty seems to provide a once in a generation opportunity

 

You could say the same for most cities in the world at the moment. People are in lock-down, they cant be out doing projects.

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12 minutes ago, Peterw42 said:

Sure, There will be business closures and job losses etc but no point throwing the baby out with the bathwater and dumping property at a loss. 

If that was an investment property, with a mortgage, you have no investment anymore. 

 

Best to try to sell it yourself and try to get the best price possible, rather than let the bank foreclose and sell it for peanuts. 

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If some folks are interested how Pattaya was looking in 1960 this is ur chance.

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4 hours ago, Phuketshrew said:

Instead of giving away money why don't they come up with a complete makeover plan and employ those without work to complete it?

I was going to hit "thanks" but then I thought about the horrible job makeover of Jomtien Beach. Would we have designs from people who bought their diploma and got job through connections be in charge? Looking at how the wholesale slaughter of shade trees, beyond shoddy construction, removal of benches and circles that promoted social contact, etc etc.... all these beach improvements have been a downhill slide into awfulness. Look at photos of Jomtien 20 years ago and weep.

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1 minute ago, Leaver said:

If that was an investment property, with a mortgage, you have no investment anymore. 

 

Best to try to sell it yourself and try to get the best price possible, rather than let the bank foreclose and sell it for peanuts. 

Thais can go to the bank and put their mortgages on hold, wife did it a couple of days ago, minimal payments for the net 3 months. The tenants are still paying their rent but she is covered if they loose jobs and stop paying, and she passed on a temporary rent cut to the tenants.

There is no reason in the world for a Thai landlord or tenant to loose or be fourced to sell a property

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31 minutes ago, Peterw42 said:

A worldwide pandemic has shut down Thai tourism, not any other factor.

I wouldn't say a tourism industry with the majority of tourists being Chinese and Indian package holiday makers exactly a healthy tourism industry. (no pun intended)

 

Their tourism industry had bigger numbers, but was way down on revenue. 

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Just now, Peterw42 said:

Thais can go to the bank and put their mortgages on hold, wife did it a couple of days ago, minimal payments for the net 3 months. The tenants are still paying their rent but she is covered if they loose jobs and stop paying, and she passed on a temporary rent cut to the tenants.

There is no reason in the world for a Thai landlord or tenant to loose or be fourced to sell a property

Your wife has a tenant, what about those owners, with mortgages, where the tenants have left?  3 months grace from the bank isn't going to cut it.  There will be no new tenant for the foreseeable future.

 

What about the Thai's that bought in and were doing the daily rental thing to the Chinese.  All gone now, won't be back for 6 to 12 months, if lucky. 

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1 minute ago, Leaver said:

I wouldn't say a tourism industry with the majority of tourists being Chinese and Indian package holiday makers exactly a healthy tourism industry. (no pun intended)

 

Their tourism industry had bigger numbers, but was way down on revenue. 

China and India represents half the worlds population. And they are not all budget tourists, as the conventional bar-stool wisdom would have you believe.

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2 minutes ago, BangkokReady said:

One man's dregs are another woman's only chance to increase the quality of life for her and her children...

Am I supposed to feel sorry for them? Why didnt they study, go school, work in mcdonalds..

 

they are lazy mate. Dont try the sympathy game cos it aint working. 

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2 minutes ago, Leaver said:

Your wife has a tenant, what about those owners, with mortgages, where the tenants have left?  3 months grace from the bank isn't going to cut it.  There will be no new tenant for the foreseeable future.

 

What about the Thai's that bought in and were doing the daily rental thing to the Chinese.  All gone now, won't be back for 6 to 12 months, if lucky. 

You can still shutdown the mortgage, thats what all the queues are at the banks. Wife had the option to hold the mortgage for up to 12 months. I really dont feel sorry for people doing the illegal short term rental, always a risk involved. They can still hold the mortgage.

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1 minute ago, Peterw42 said:

You can still shutdown the mortgage, thats what all the queues are at the banks. Wife had the option to hold the mortgage for up to 12 months. I really dont feel sorry for people doing the illegal short term rental, always a risk involved. They can still hold the mortgage.

So, it's gone from 3 months to 12 months.  Which one is it?

 

In any case, doesn't this push the loss onto Thai banks?  That's going to have to come back somewhere.

 

 I don't have a property here.  I can see you have a conflict of interest.  Try to be subjective.  Do you really think this crisis will not / should not effect the property market here?   

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I like his approach on this line, something we all said was OTT.

 

The requirements to have health certificates and 100,000 baht insurance policies have put paid to that. 

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