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Any drop in prices from this time last year? I'm in CM

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I'm in Chiang Mai. I bought 2 units in my building around this time last year. There's some more for sale, same condition, same seller. They're asking for the same price. 

 

Are prices generally down in Thailand/Bangkok/Chiang Mai

 

I'm a cash buyer, so if I was to make an offer, you think 10% less than last year is fair?

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Yes and no. 

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9 hours ago, blackcab said:

Offering less is probably not the best way forward, especially as you are known as a previous buyer of good standing.

 

My advice would be to explain to the seller that you would like to purchase X quantity of units, but you really do need a good price because times are very difficult and there are many other properties for sale.

 

Then ask the buyer to let you know what their best price is, including who pays for what in terms of taxes and fees at the Land Office.

 

Wait and see what they come back with. It might take a few days as the seller will often discuss the matter with family or colleagues to get a consensus on the price.

 

You might be pleasantly surprised.

Thanks, good advice, the old face play.

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I like that advice, where i come from it's more direct : you look at the place and put down an offer with the mention that you are not flexible on that "take it or leave it" in the current market. Will try your advice with a thai seller / landlord

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Why do you want to buy more.. you already feel prices are coming down...

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9 hours ago, baansgr said:

Why do you want to buy more.. you already feel prices are coming down...

I'll buy another one if the price is right.

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The prices are determined by the owner - - there really is no market value here as there are few or no customers...

 

If your building has a bulletin board, I would post a sign there "wanted to buy" - and state you are looking for a reasonable price... this is a great time to get really cheap in your offer. 

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It is crazy to buy now in Thailand.Wait a year or two or buy foreclosure property.

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Posted (edited)
13 minutes ago, KKr said:

Owners are many times wishful-thinkers.

And here, many don't really have to sell - - normal market factors that would compromise prices are not always working here until someone "has" to sell and that would likely be a farang... Thai will just hold it. 

 

ps - if the owner does not accept an offer, there is no sale - owners determine the asking price... buyers willingness to pay is just the other side of the coin, 

Edited by kenk24
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Posted (edited)

Pick 10 properties offer 30 to 50% less then asking.

Every condo owner ignorantly thinks their property is worth more.

They will say offer this and that.  Mostly they are in a dead money depreciating funnel of purgatory.

Such desperation now offer way low good time to buy.

Edited by bkk6060
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Heck I've got a house for sale on 2+ rai 40 km north of Chiang Mai and I am asking 7.8 million baht fully furnished. I would be tickled if I got ANY offers.

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