That’s the good point with the Boiler Room… You think they’re dead, explosed, atomised… but no… like the Terminator they’re always coming back. For that matter, it’s like a movie. Albeit not a very good one.
Anyway. Here are the latest news from the Boiler Room, with a very funny article from the Nation (of course). Ready ?
First the title, it sounds like a bullet, like the drop of 53 % of sales of General Motors in the US in february :
Signs of improvement lead to launch of new projects
A good start indeed. My dear readers know since october that the property market in Thailand is fundamentaly insulated from the crisis. Why ? Because.
So, we have had a crisis in Thailand… But we are lucky : it lasted only 3 months ! Now we have “signs of improvement“. I say : book it and buy it (the article’s title, not the condo). 😉
The top 10 property developers in the Thai market are preparing to launch new residential projects worth more than Bt30 billion as they glimpse what some believe are the first signs of improvement in home-buyer confidence.
Sansiri’s chairman Apichart Chutrakul said that although Thailand’s economy had slumped following the global downturn, his company believed that demand still existed for residential projects priced between Bt3 million and more than Bt5 million.
Good. People are going to received 2000 THB in april from the government, reduce their spendings (VAT collections going down), the Bank Of Thailand slashes interest rates, the sales of cars are dropping, the exports are plunging, the industrial production is falling… but THE DEMAND STILL EXISTS for mid to luxury condo.
“We’ve seen good signs in the first two months of this year. The number of visitors to our residential projects has increased about 10 per cent since the last quarter of last year, when the number of visitors fell more than 50 per cent below normal. As a result, we believe that when we launch new projects at this time, we will create a feeling of confidence among our customers and in the overall property market, that things are better than in the last quarter of last year,” he said.
This guy is a winner. In Q3 we have 100 visitors. In Q4, its goes down by -50 % (= 50 visitors). Then january it goes up by 10 % compared to Q4… = 55 visitors.
The total is still much lower than Q3. 😉 I guess they don’t teach arithmetic in thai marketing schools.
You want another one (a winner), olympic class ? I give you Sorapot Techakraisri, chief executive of Pace Development’s.
“If investors save their money in the bank or invest it on the Stock Exchange of Thailand, they will get returns on investment lower than 5 per cent. But when they invest in property, they will get an asset that will generate an annual return on investment of between 7 and 10 per cent. This is better than other investment options,” he said. Saladaeng Residences is the company’s second condominium project. The first was successfully developed on Sukhumvit 44/1 in 2004.
Tell me you love it, please. Here we have a casino under LSD and supercharged with yaba. Money on stock market ? You fool ! It’s too dangerous, we have a freaking crisis ! You’ll get a poor return.
But if you invest (ah ah ah) in a condo, you’ll get a ROI of 7 to 10 % ! Striking you think. How ? ! No need to know how, it’s totally irrelevant.
Sorapot tells you 7 to 10 %. Sign here. Sorapot is ready to give you his Mont Blanc pen.
Of course, you would need to find a tenant for your luxury condo (bought from Sorapot) but it’s not a problem. Tenants are running wild (and naked and amok) on Bangkok’s streets, everywhere, in greater number than cockroaches. And they all want to pay a high rent… so you can get your 10 % ROI. They are nice people.
Anyway. Thanks to the Boiler Room you don’t need to go to the cinema to be entertained.
And furthermore… it’s free ! 😉