Not good news for house sellers

[Charlieb]

Maybe good news for Buyers?

From the Bangkok Post:

Developers fret over BoT curbs, economy

Tough times for the residential property market in Udon Thani and Khon Kaen will continue into 2019 amid an expected poor economy and the Bank of Thailand's new requirements on mortgage lending, say local developers.

[GT93]

I understood that Udon isn't a great place for house sellers anyway. New housing is way more popular. Has that been changing?

[dunroaming]

Thais are very superstitious people so they tend to buy new or build there own as they believe second hand houses are unlucky as usually someone dies or goes broke before house is put up for sale or gets divorced therefore house is already cursed.

[runrunshaw]

I've been told repeatedly that that home loans to purchase new housing has been much easier for Thais to get, than it is for purchasing used homes.

[the-monk]

Maybe they would have better luck selling in the UK..
<<Laboratory tests on samples taken from parts of Mr Fascione's home showed the amount of sand was almost three times higher than recommended.

"I'm the guy who retired and decided to buy a new-build house," he said. "I'll never buy a new-build house again - never. It's just been disastrous for me." >>

New homes 'crumbling due to weak mortar'
https://www.bbc.com/news/business-46454844

[yartims]

what happens when a farang dies on the property how easy is it to sell ?

[saint]

I've been told repeatedly that that home loans to purchase new housing has been much easier for Thais to get, than it is for purchasing used homes.

This is true , but only if you use the same bank the property developer borrowed the money from to do the development in the first place . Probably at a slightly higher rate of interest .

[kopkei]

the problem is if they need to borrow from the bank , the bank will always push the homes for sale in their own portfolio of confiscated properties , the loan will be more easy...., and outside the portfolio the loan will be (mostly)refused ,this in case of second hand properties...as info..

[tamada]

what happens when a farang dies on the property how easy is it to sell ?

Most farangs actually die in hospital since the option of dying at home, even if desired, opens a whole can of worms on getting death certificates, release of bodies to the next of kin and the like because the plod have to get involved. Mate of mine, terminal cancer, just wanted to go home and pass away in his retirement mansion looking out the window on his estate but due to the above malarkey, he had to bite the bullet in hospital. Actually, it's easier to get a foreigners body released if that person has committed suicide rather than a peaceful passing in ones sleep. TiT.

[saint]

This is Thailand . Yes there will be more paperwork if you decide to have your final moments at home , but money talks and bull shyt walks . Anyone can come to a financial understanding with plod here .
Im not dying in hospital . No way Pedro . That is if i have a choice .
Besides the hospital send the locals home to die , usually without any support for the family .

[kopkei]

the only difference dying at home or the hospital will be noticed in the relatives wallet , dying in hospital will give them a hefty bill , and sometimes also not easy to release the body , when dying at home , a doctor will come at home confirming the dead and will arrange for the death certificate , if natural dead , the body is not transferred to the hospital but go's directly to the coroner ....no fuss , no big hospital bills ...as it happened with my sister in law falang husband...as info...