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6,800 UNSOLD condo units in Hua Hin/Cha-Am, says Knight Frank


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  • webfact changed the title to 6,800 UNSOLD condo units in Hua Hin/Cha-Am, says Knight Frank
1 minute ago, NCC1701A said:

nice photo of Cha Am/Hua Hin. Not. 

 

Pattaya or Hong Kong ?

Edited by 4MyEgo
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1 minute ago, NCC1701A said:

they changed the photo! they do read my comments. i'm not alone! someone is listening to me. hello? can you hear me? 

 

They must be short of stock photos. Neither so far show H-H as the wonderful place it is.

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7 minutes ago, NCC1701A said:

they changed the photo! they do read my comments. i'm not alone! someone is listening to me. hello? can you hear me? 

 

I just saw that, but at the time of you posting your comment it looked like Pattaya or Hong Kong and that is why I asked with a question mark. 

 

I read your comments very clearly, perhaps you would like to revisit them, "no mention of they changed the photo" in your comments.

 

That time of the month is it or you weren't referring to me ?

Edited by 4MyEgo
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And then the easily forget to mention the second hand / resale market. But I do wonder. How is it possible that these co.dominiums were built when almost nothing was sold? Is the developer the owner of part of the building? How big % needs to be sold to get start building? Does the rules need mending?

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15 minutes ago, Mops59 said:

And then the easily forget to mention the second hand / resale market. But I do wonder. How is it possible that these co.dominiums were built when almost nothing was sold? Is the developer the owner of part of the building? How big % needs to be sold to get start building? Does the rules need mending?

From what I have heard, the developer can get financing when about 30% of the units have been reserved.  With the cost of materials and labor being so low, the profit margins here in Thailand are huge.  The problem comes when the people who have reserved a unit don’t close, but depending on the deposit amount (I have heard 10% for Thais and 30% for foreigners), there is some cushion for the developer which is why they are able to sit on the unsold units for years and years and years even while moving on to their next newer and better project.

 

Lather, rinse, repeat.

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9 minutes ago, kingstonkid said:

Imagine if Property developers were on the hook for annual property taxes bet they would sell them quick.

Developers are on the hook for annual property taxes (see link below for rates).  They are low enough to where they really have no problem sitting on vacant units or even renting them out while waiting for the market to come back (no guarantee of that however).  Generally, developers...at least the major ones...are quite wealthy so they can shoulder those tax burdens.

 

If the government were to impose much higher tax rates, the developers would step back and not start new projects.  This would lead to even more unemployment than we are currently seeing which would have a further ripple effect throughout the economy.

 

Property tax rates...

Nk5

 

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I'm sharing a small room in Bangkok with three backpackers.   Going on year 6.

 

monthly cost....  1200 baht

 

why would anyone buy property in Thailand?????  have you not looked at the houses, googled back home at houses and then said, "OMG, these are not same same!!!!!!"  

 

house is used loosely here for "sell to farang and then farang his problem"

 

if you do buy......buy in a place where the pollution won't make it impossible to sell after humans wake up and realize 100 million people died from pollution in the last 50 years.

 

 

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2 hours ago, ThailandRyan said:

Fire sale, Get yours now for a reduced increased price of, can't loose money now.  

 

But a better Idea is this: Stop building new ones as the glut will just get larger and larger.

Gotta launder the money somewhere!

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