TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Buyer Defaults Hitting Residential Sales Pace

Category: Real estate, Posted:06 Jul 2009 | 11:33 am

In talks with developers on the island there is an emerging trend of buyer defaults in the property sector back of the current economic downturn. A number of resale units have been placed back on the market recently including high profile projects in Bangtao/Laguna, Kamala and Nai Thon. Tracking sales pace in various projects the numbers are bearing out the "for sale inventory' is on the rise.
Developments which had either been fully sold out or showing a good number of confirmed sales; now have inventory placed for sale. A combination of buyers who have some progress payments down, or those still in the due diligence phase and are walking away from reservation payments. Recently some projects which had a good percentage of progress payments in and buyers walked away have simply remarketed the units well below existing retail pricing; with the logic that the end revenue combining the default amount retained and low resale equals the current retail level.
What the trend does demonstrate is twofold in that retail pricing is under the gun with new buyers expected deep discounting and that the resale market is becoming a larger segment of the total real estate market. As not only business cash flow but personal finances get crunched, the expectation is this situation will be carried over into the coming high season.

Other News

Read more

C9 Hotelworks Releases Mid-Year Phuket Hotel Market 2023

Category: Hotels|Tourism, Posted:10 Sep 2023 | 15:42 pm In the first half of 2023, Phuket experienced a resurgence, signaling a promising path toward recovery. International and domestic flights both saw significant increases, accounting for 75% of the total flights in 2022. Airlines and travelers alike are eager to reengage with Phuket’s offerings. In terms of passenger arrivals, the first half of 2023 displayed […]
Read more

The Green Minute – PHIST 2023

Category: Hotels, Posted:10 Sep 2023 | 14:11 pm For those of you who missed PHIST 2023 and those of you who did attend, please find a selection of video short Green Minutes from the event. Sustainability has to be a priority for the hotel and travel sectors and hopefully the ideas and messages here, give you your own inspiration to go green. PHIST […]
Read more

TG’s Big Birds Set To Fly Phuket Bangkok Route Again

Category: Tourism, Posted:08 Sep 2023 | 16:14 pm One good indication of Phuket’s return to tourism recovery is airlift growth. Making news this week is Thai Airways International’s reported resumption of service on the high-traffic Phuket Bangkok route. The airline will start a once-daily right on 1st October 2023. Thai Smile (WE) will still operate other flights til the end of November when […]
SiaJai logo

Thailand's Leading Homecare Marketplace