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100 hotels on Koh Samui forced to sell up due to COVID-19 crisis

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Posted (edited)
3 hours ago, ezzra said:

Any one with cash at hand can make a killing now buying properties at rock bottom price and when things will look up, and they will, will at least double their money...

The times in the past I've heard that, businesses, condo's etc, yet I have never a met any of them, except I meet many trying to sell at a huge loss!!

Edited by Pdavies99
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2 hours ago, apophyss said:

Chineese will come buy all...

Yes they will, and guess who will be employed to work in them? One guess only and it isn't local people. 

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4 minutes ago, ExpatOne said:

Curious how many Chinese are buying businesses as they are being forced to sell. They should be banned from foreign investments for the next 5 to 10 years.

Aahh..the evil Chinese coming with huge bags of money buying everything lol. I'm sure the farang villa owners won't mind selling the overpriced villas they were trying to sell for years to the Chinese.

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3 hours ago, ezzra said:

Any one with cash at hand can make a killing now buying properties at rock bottom price and when things will look up, and they will, will at least double their money...

Heard of the expression'catch a falling knife' ?

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1 hour ago, Trentham said:

I first went to Koh Samui in 1984. Stayed at Lamai Beach in a bungalow with a palm frond roof. 50 baht per night for 2 people and another 50 baht each for 3 meals a day. It was magic. All the food was fresh caught in the sea or grown in their own garden. If I ordered a pina colada they would scramble up a palm tree to get a fresh coconut. Beautiful beyond words.

Now diametrically opposed. Phuket to some extent too. Lanta probably the last half decent outpost 

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2 minutes ago, nchuckle said:

Heard of the expression'catch a falling knife' ?

The thing were not going very well in Samui even before the covid19. Now it is much worse. A lot of the workers on the island live in rented rooms, and without any income they struggle big time. I expect political pressure to open the international flights to Samui in no more than 2-3 months.

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29 minutes ago, Jenkins9039 said:

You could 'put the same money' into other investments (equities, crypto, etc) and make the same money in less time due to the volatility, and without the risk associated with not actually owning it (risk outside of reasonable control).

 

Best thing Thailand needs, is a hard, harsh, down-to-earth reset.

Baht will continue to appreciate due to their offshore holdings, but domestically it will collapse, then the baht will follow (eventually), also its better to invest in South America where you can own, and will see growing demand over the next decade for tourism, I know i am currently looking at a beachside residence there, stability in Panama, Brazil for much of the living requirements, a home away from home perhaps, but the return on investment has a better outlook due to its proximity to the US and retiree's.

The Baht in reality has not appreciated at all, it's more that other currencies have depreciated what with reduced interest rates, borrowed massive amounts, high unemployment etc. Thailand has not borrowed money and being the government that it is, let's the people manage with charities to feed the starving.

 

As to Brazil...I assume you've been there? Hardly a great long term outlook and certainly an unsafe country!

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4 hours ago, ezzra said:

Any one with cash at hand can make a killing now buying properties at rock bottom price and when things will look up, and they will, will at least double their money...

I don't think so, the baht has to collapse first....

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4 hours ago, ezzra said:

Any one with cash at hand can make a killing now buying properties at rock bottom price and when things will look up, and they will, will at least double their money...

Yes indeed and I bet the Chinese have their eyes on this - large tour groups on the horizon???

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Aren't they building a bridge to save the island ?

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31 minutes ago, gearbox said:

Aahh..the evil Chinese coming with huge bags of money buying everything lol. I'm sure the farang villa owners won't mind selling the overpriced villas they were trying to sell for years to the Chinese.

     And, nothing wrong with that.  I sell to anyone who shows up with the money.  That's been Russian, Swiss, Thai, Swedish, American, Canadian, Singaporean, Chinese, and likely several more nationalities  I've forgotten.  

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Koh Samui will have to change it's name to Koh Cheen after the Chinese buy up everything. Then there will be charter flights galore from China... Naturally the Sino Thai families holding all the power will do little to stop them taking over as they will benefit and be rewarded. 

 

 

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2 hours ago, miamiman123 said:

10% unemployed Thailand said

hehehehe 

And what do you find so amusing about that?

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