Finally, someone has to admit it
- vladimir
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Finally, someone has to admit it
The housing glut: took real geniuses to notice that. None so blind...
http://www.phnompenhpost.com/business/d ... ign=buffer
'However, Soknim said that while dozens of condominium projects had received construction approval, the majority of them would not be ready for several years and the supply glut would not really be an issue before 2020.
“There is a bit of oversupply, but the actual amount of units available in the market is still limited,” he said.'
Just a teeny bit, maybe only 5000 empty apartments. Just a bit.
http://www.phnompenhpost.com/business/d ... ign=buffer
'However, Soknim said that while dozens of condominium projects had received construction approval, the majority of them would not be ready for several years and the supply glut would not really be an issue before 2020.
“There is a bit of oversupply, but the actual amount of units available in the market is still limited,” he said.'
Just a teeny bit, maybe only 5000 empty apartments. Just a bit.
ירי ילדים והפצצת אזרחים דורש אומץ, כמו גם הטרדה מינית של עובדי ההוראה.
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- K440 Acolyte
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It's just a scheme to keep all the construction workers busy, or they'll start a revolution or start gang raping teenkids en masse or join the militia up in the woods, which we just can't have.
The Malaysian press is beginning to predict a long overdue bubble-burst in KL, too. A pity the crash is coming only after all the green lungs and heritage buildings have been destroyed...
http://www.themalaymailonline.com/malay ... n-malaysia
http://www.themalaymailonline.com/malay ... n-malaysia
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Does this mean there will be great condo buying opportunities soon? Could I get a 300 - 400 sqm penthouse for $150,000 in a new building?
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- Felgerkarb
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When the bubble bursts here again, it is gonna hurt worse than the last time. Land prices in Morticia's home town went from 6k for a plot to 20k in the last 6 months. Unsustainable.
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Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
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Yea Cambodian land prices are ridiculous. Back home you could get a nice family house with massive land for about 150k. Some locals here make fortune from land dealings though.
EVERYONE BOW DOWN TO HIS MAJESTIES phat kunthea™
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- spitthedog
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Has anyone taken a walk around that massive townhouse/apartment complex in SHV near Sokha beach. There must be hundreds of them and they are all empty.
I'm guessing they are only a few years old, but they look quite aged due to being completely vacant i guess.
I'm guessing they are only a few years old, but they look quite aged due to being completely vacant i guess.
"I don't care what the people are thinking, i ain't drunk i'm just drinking"
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Couple of projects like that here in SR as well. And more being built.....spitthedog wrote:Has anyone taken a walk around that massive townhouse/apartment complex in SHV near Sokha beach. There must be hundreds of them and they are all empty.
I'm guessing they are only a few years old, but they look quite aged due to being completely vacant i guess.
"I realized that If I had to choose, I would rather have birds than airplanes."
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Charles Lindbergh
- Petrol Head
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The argument previously was that there couldn't be a crash because major asset purchases were mostly paid for in cash, plus strategic lending policy among major banks was extremely conservative.LexusSchmexus wrote:We've seen this coming for years. Inevitable really. What I'd like to see is the number of years it takes someone on an average salary to afford a house in the city. Lot's of western cities it's something like 10 years' worth of salary. Here it must be something like 100...
I guess smelling an opportunity, those Boreys on the outskirts have begun implementing their own credit schemes, applying extortionate rates of interest, backed by crushing periodic principle repayments. Off plan too, as they won't build without a deposit.
A middle class professional Khmer like Mrs PH, earning $2500 p/mth net could probably spring for the nominal deposit from long term savings, but would be wiped out in short order without significant backing from the Chinese money lenders and/or family. Of course the sales rep won't tell the prospective buyer that.
Also, what sort of asset are you buying ? Most of those Boreys are built on swamp land, with poor infrastructure in and out. Piles have not been sunk adequately and cracks were evident everywhere in 'new buildings'. When I asked about the body corporate fees, the salesman emphasized, 'yes, you have to pay X for estate upkeep, but don't worry these will reduce soon!' WTF!? Tell me they will increase by 15% PA or something !
Last edited by Petrol Head on Tue Aug 30, 2016 11:53 am, edited 1 time in total.
Haha - my money’s on Playboy
- vladimir
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Yes, but you might be the only guy in the building.gavinmac wrote:Does this mean there will be great condo buying opportunities soon? Could I get a 300 - 400 sqm penthouse for $150,000 in a new building?
Stayed in a block in Thailand, 150 apartments, 10 occupied. Over the King's Birthday, people would suddenly appear and stay for a few days, then bugger off, but still only around 15 out of 150.
I left when they decided to close the pool because only myself and one other tenant were using it. Laundromat, pool, small gym, lovely building, but a ghost house.
ירי ילדים והפצצת אזרחים דורש אומץ, כמו גם הטרדה מינית של עובדי ההוראה.
That place is called Pearl City. It has been going on for over 9 years that I remember. Quite the place. The blue glass roof for the shopping mall supposedly cost upwards to $3 million. No one but security and workers live there.spitthedog wrote:Has anyone taken a walk around that massive townhouse/apartment complex in SHV near Sokha beach. There must be hundreds of them and they are all empty.
I'm guessing they are only a few years old, but they look quite aged due to being completely vacant i guess.
- spitthedog
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^^ When i first walked around there i half expected someone to shout - ''Action!!'', and for some cowboys to come out of nowhere and have a gun fight.
They should use that place to make a khmer version of Albert Square/Eastenders i reckon.
They should use that place to make a khmer version of Albert Square/Eastenders i reckon.
"I don't care what the people are thinking, i ain't drunk i'm just drinking"
The first stage, built over 10 years ago, is rotting badly. They are the ones running along the back road on the way to Hawaii beach road, and are just small shells inside. You need to put the internal walls in yourself. I think they were asking Around 30 or 40 for them! The whole project Stinks of something rotten if you ask me. Koreans and Cambodians I think.
That glass roof is supposed to be motorized.
I had a tour of the most expensive places, villas by the water. Fairly nice but well over- priced.
That glass roof is supposed to be motorized.
I had a tour of the most expensive places, villas by the water. Fairly nice but well over- priced.