February 16, 200917 yr 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!!
February 16, 200917 yr 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.
February 16, 200917 yr 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.
February 16, 200917 yr 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.
February 16, 200917 yr 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?
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