Survey Results & Answers to your Thai Property Questions November 2019
In our last newsletter we asked you to complete a brief survey to help us all gain a better understanding of the Thai property market right now, 26 of you did so thank you and here are the results:
This shows 50% of respondents would still be interested to invest in a ‘killer deal’ and these days, they are out there. Please CLICK HERE for our BARGAIN PROPERTY PAGE. Even on these reduced properties, offers are expected and you might find a genuine bargain. Some sellers are willing to accept funds overseas which also helps reduce the cost of investment. If you are looking to really sell your property, please do listen to advice and price competitively.
Clearly and understandably the exchange rate/high Thai Baht is the major factor in reluctance to invest at present. I think many are waiting for the Baht to drop, after all, “What goes up, must come down”. Something to keep in mind is that we can offer some new build properties with a exchange fixed rate, and with resales, agreeing a fixed price in another currency may be possible. Unfortunately with current immigration policy we can do nothing except watch and wait and see if things become clearer and easier, this is hard to comment upon as it effects different people in different ways.
Many people who bought (for example) at 60B+ to the Pound are doing well to sell now at reduced ThB price, we have a lot of resale properties at substantially reduced ThB price where the sellers are still doing quite well on the exchange sending back to the UK.
Noted with Google Maps. This was not our decision, but a technical issue with the Google Maps compatibility with our website which we are working a fix for at present. As soon as it is resolved, we will enable the map function once again.
There is a lot of global uncertainty right now, and it seems a lot of us are in a position of just having to wait and see what happens on many fronts. It seems quite relevant that literally while writing this text, I am chatting to a friend who lived in Thailand for 14 years and moved to China 3 months ago to work for a better salary, these are his exact words: “…after coming to China and dealing with these people, Thailand is heaven compared….Sometimes you need to go away to realize what you had!”. I agree with the response that (despite the current situation world-wide) Thailand is a great country to live.
Condo not house – I have to say that for our main demographic of customers, condos have not been a popular choice. Most people we have seeking property in Hua Hin are looking for value, space and private tropical surroundings. However I see some major benefits of condos for foreigners: freehold ownership, low maintenance and easy to lock and leave. In addition, condos often offer superior location, facilities and views.
“There seems to a big influx of properties right now. Why is that?” I think we now have many people looking to sell up and leave because of the high Baht and some new immigration requirements, and also maybe some people who bought at a favorable rate some years ago are trying to sell now to make gains on the exchange rate.
Note: I will add to this section of the article over the next few days.