PattayaMale Posted February 16, 2009 Posted February 16, 2009 Reading the Bangkok Post Business section today I read several stories about the Thai economy. Recently, some were saying SE Asia might not be hit too hard. The condo market for mid priced condos (under 5 million baht) is down 80%. The high end market (6 - 10 million baht) has completely drawn to a halt, with many investors pulling out in fear new projects will not be completed. Cargo is down 50% Thai air's flights are doing better than expected. Unemployment is up considerably. Rice prices way down hurting farmers (80% ?? of Thais) I can't imagine what it would be like if they were hit hard!! Quote
Guest Astrrro Posted February 16, 2009 Posted February 16, 2009 The condo market for mid priced condos (under 5 million baht) is down 80%. The high end market (6 - 10 million baht) has completely drawn to a halt, with many investors pulling out in fear new projects will not be completed. Sales are down 80% or are prices down 80%? I can't believe that a 2 million baht condo is now selling for 400K. Quote
Gaybutton Posted February 16, 2009 Posted February 16, 2009 Sales are down 80% or are prices down 80%? I can't believe that a 2 million baht condo is now selling for 400K. That would be a nice dream, wouldn't it? If that was the case, then people would be snatching them up. Unfortunately when the article says, "The condo market for mid priced condos (under 5 million baht) is down 80%," that means sales are down, not prices. Quote
Guest shebavon Posted February 16, 2009 Posted February 16, 2009 The condo market for mid priced condos (under 5 million baht) is down 80%. The high end market (6 - 10 million baht) has completely drawn to a halt, with many investors pulling out in fear new projects will not be completed. Cargo is down 50% Thai air's flights are doing better than expected. Unemployment is up considerably. Rice prices way down hurting farmers (80% ?? of Thais) I can't imagine what it would be like if they were hit hard!! Relax, the sky is not falling. An article in the most recent Pattaya Times shows tourists down 60%, with Russian tourism down 80%. This too shall pass. Perhaps rather quickly if Abhisit is allowed to actually govern instead of dealing with bullcrap. Quote
Guest buckeroo2 Posted February 16, 2009 Posted February 16, 2009 Reading the Bangkok Post Business section today I read several stories about the Thai economy. Recently, some were saying SE Asia might not be hit too hard. The condo market for mid priced condos (under 5 million baht) is down 80%. The high end market (6 - 10 million baht) has completely drawn to a halt, with many investors pulling out in fear new projects will not be completed. So is there such a thing as lower end of the condo market? If "under 5 million baht" is the mid priced condo range does that mean an "under 1 million baht" condo is also classified as a mid range condo? - not that I imagine there are many of those available, I just wondered at what price does a mid-range condo classification start? Quote
