What’s Stopping a COVID Property Crash in Phuket?

Free vector template time to travel landing pageAnother way a lucky buyer may find a good deal is when financial circumstances force the owner to walk away from their purchase. Even though a condo is paid in cash, it is paid in tranches at different stages of completion, and a loss of income could result in payments being missed and the property sacrificed. Such units could offer the type of discount bargain hunters are looking for. But these deals are most likely to be found on properties which were already exceptionally cheap to begin with (e.g. budget condominiums) whereby the buyers-turned-sellers had committed a significant percentage of their savings. Because the cash nature of funding these projects somewhat mirrors the ‘cash only’ purchases by foreign buyers, a developer who has sold out their foreign allocation will not be struggling to complete their development. A new condo is sold off-plan, marketed extensively, and construction tends to commence when sufficient units have been sold to begin construction. Developers who failed to sell enough units to commence construction, and are not capitalised independently of unit sales, will have suspended construction activities and be sitting idle. This will not be an optimal situation for them by any means because their source of income will have dried up, but with no banks haranguing them to repay loans, they are unlikely to be desperate enough to ‘fire sale’ their remaining units for the sake of liquidity. This means they are not forced to return money to buyers if their ability to complete the project is being curtailed by a global pandemic.

But the kind of “property crash” these bargain hunters are expecting is more typically caused by a liquidity crisis impacting the mortgage sector. Such a collapse is inextricably linked to people’s ability to afford the loan payments on which their ownership depends. The vast majority of properties being purchased here in any given year are new builds – condos bought either off-plan, or during the early stages of construction – and if there are deals to be found they will probably be in this sector.1 million.96%. We freely admit that some foreign freehold condominiums will be sold by owners who are desperate to raise the cash. Also, since most condos are listed at the “Thai freehold” price, a complimentary foreign freehold upgrade might be offered. For example, a free furniture package, or an upgrade in the furnishings and appliances in the unit, would enhance the value to buyers. This is either a fixed amount or a percentage of the purchase price.

The sky is a gorgeous hue of orange and pink, as though filled to the brim with a delicious passionfruit cocktail. Of course you have, everybody has! Ever thought about buying a beautiful holiday home in paradise? Only, few people are brave enough to actually go ahead and splash their cash, when in actuality it is an incredible investment opportunity that can actually make you money in the long run. However, while spending such a large sum of money is never a snap-decision and does require plenty of thought and research; with the right guidance it can be one of the most lucrative investments imaginable! So how do you go about making your decision? Buying a property can indeed be a very length and scary process, with plenty of red tape and an awful lot to consider. You can then enjoy your holiday home as often as you desire, until eventually being able to retire in paradise when you are ready – mortgage free! Opt for locations with a strong and reputable history and a consistent level of popularity among tourists. Finding the perfect slice in an already incredibly delicious cake isn’t going to be all that difficult; it’s just a matter of making sure that you’re actually allowed to eat it before wolfing it down.

Buying Real Estate with a Nominee - Bangkok SolicitorThis 3-bedroom beachfront pool villa might be the perfect choice for you. Spanning over 4 storeys, it features 3 bedrooms, 4 bathrooms, an open plan kitchen-dining-living area, and spacious terraces and balconies. 2. Moreover, luxury is not in short supply here. Moreover, the villa comes with floor-to-ceiling sliding doors that create a breathtaking view from the open plan space, seamlessly connecting the indoors and outdoors. For beach lovers, the villa boasts direct access to a small private beach – perfect for spending a fun day under the sun. Set right at the water’s edge, the pool is just as inviting. There’s also a verdant tropical garden, phuket best condos so you can meditate and find your zen anytime you want. Need more entertainment? Invite your friends to a game of table pool available in the villa’s living room. If you want to have the blue ocean right outside of your door, then this beachfront pool villa is for you.

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