I don’t know why Uncle Bill came to mind last month – well I do as I explained then – but why just then? But it did start me thinking and remembering some of his other sayings in a deep Yorkshire accent. Driving home the other night as we came up towards Big Buddha there were ominous storm clouds building up. “It's a bit black ova Bills' Mothers” came to mind as one of his sayings portending rain and sure enough not long after we had some very heavy and much welcome rain. The authorities seem to think that we have about three months water supply on Koh Samui so are not at this stage too worried. Although the rain was very heavy and some areas began to flood, the new drainage systems put in last year seemed to work quite well and the water drained away pretty quickly.
The more I think about his sayings, the more appropriate many are to life on the island. “Tha’ can allus tell a Yorkshireman, but tha’ can’t tell ‘im much.” Well I have to say that applies to so many people who think they know it all. After some 35 years in real estate and eight here on Koh Samui, I have a reasonable grasp of the fundamentals but it still amazes me the number of people who after a few months have worked it all out and are fountains of knowledge and boast about the number of high ranking and powerful friends they have who have promised them help. If you do things by the book and within the law, you do not necessarily need such contacts. But, in any business contacts are important and on a small island like Samui there are long established local families who wield a lot of influence and many hold important posts in local government and businesses. Treated with courtesy and respect they can be useful allies but offend or embarrass them and life may become a little tedious.
I am probably the last person to criticise anyone for speaking incorrect English as my ability to speak Thai is virtually non-existent even after ten years in the country. So when my wife came running into the office shouting that “ a bee has bitten me”, apparently that was not the right time to suggest “stung” might be a better word!
For those of you with Google Earth you will be pleased to know that they have at last updated the images for Samui. Previously these were dated 2004 but the new ones are dated 2009. Unfortunately there are still large areas of cloud cover, mostly in areas such as Bophut and Choengmon that were clear in the previous images, but nevertheless this is a great step forward. However, Google Earth is a pretty impressive program and you can actually revert to the old images quite easily using the “time slider” which is the “clock” in the tool bar at the top. The have though not updated the whole of the west coast which still remains mostly blurred. If you do not have Google Earth, the basic version is free and you can download it here.
As reported in previous Newsletters, Social Marketing is the buzz word to day and whether we like it or not you have to play along to stay in the game. To this end Ko Samui Properties can be found on Face Book at_ http://tiny.cc/SSJEi Twitter at http://tiny.cc/4XaHA . Recently I was introduced to LinkedIn which I had always ignored before as just another directory which would take up my time to no effect. In fact it is proving to be a very interesting networking tool. This business is about contacting people and making them aware of what we do and of course this Newsletter is part of that strategy. The more people we connect with, directly or indirectly, the more people see our inventory and the more likely we are to make a sale. Within a few days of joining I had over 65 direct contacts, 2,200 secondary contacts and ultimately 220,000 contacts and building every day. Achieving and maintaining a high profile in this very competitive and currently difficult market is essential to our success and the success of our clients and making sure that anyone interested in buying property on Koh Samui finds us at the top of the list. If you wish to connect follow this link.
I am sad to report the passing of one of Koh Samui’s great characters. Big Joe was tragically killed in a car accident on his way back from Bangkok last Saturday. His pies and sausages were renowned as far a field as Pattaya and his kindness and generosity knew no bounds. I have known Joe since we first opened our office as his shop was then just a stones throw away but had not seen him so often since he moved to his new location on Old Monkey Theatre Road. He will be greatly missed. RIP Joe.
Asking prices for land have remained pretty static and, until now, not fallen in the same way as house prices. However in the last couple of months we have seen sellers start to drop their prices with reductions of between 20% and 27%.
More and more people are recognizing that there has been a significant market adjustment over the last 12-18 months. Each week we get instructions to reduce asking prices to levels more appropriate to the prevailing market conditions and you can find these on our web site at the Hot Press Offers . You will see a great number of properties with prices that have been reduced from between 17% and 33% with an average reduction this month of 21%. These reductions are producing sales and, although still not many, there are a few more buyers around than there were a few weeks ago.
See in particular the following properties – CTRL + click to follow the link:
3 Bedroom House in Bangrak – Baht 5,900,000
Now available at - Baht 4,900,000
2 and 3 Bedroom villas in Bangrak – Baht 7,900,000
Now available at - Baht 2,590,000 and Baht 3,690,000
2 Bedroom Bungalow in Bangrak - Baht 3,900,000 million
Now available at Baht 3,000,000
5 Bed house with pool in Maenam - Baht 12 million
Now available at Baht 8,000,000
4 Bed House with pool in Chaweng - Baht 45 million
New Price - Baht 31 million
For a full copy of the monthly Newsletter please email me at hbonning@kosamuiproperties.com
Thursday, 1 April 2010
Tuesday, 2 March 2010
Koh Samui Properties Blog No 66 March 2010
Uncle Bill was a Yorkshire farmer of the old school and I spent many a happy school summer holiday on the farm, getting in the way and pretending to help where I could! He had a good herd of cows – or beasts – as he called them for milking twice a day, a large flock of sheep with lambing in the dark winter nights and which were then dipped and sheared in the Spring and whilst they brought in a harvester to cut the Barley or Wheat, he still used a huge scythe to keep the grass down. The hens were completely free range and collecting the eggs involved climbing into haystacks and under hedges. The geese however were not to be trifled with and as a six year old were pretty scary. No electricity in those days so we went to bed with candles and a “visit” was to the outside privy at the bottom of the garden with a torn up copy of the Yorkshire Post! Uncle Bill was the first person to introduce me to that well known phrase – “There’s nowt so queer as folk!”
The purpose behind that introduction is basically because it is a phrase that has popped into my head on more than one occasion over the last few months. Our principal marketing tool is our web site and the vast majority of enquiries we receive originate from there. It usually starts with a brief email asking for further details of a particular property and as we enter into a dialogue we begin to understand better what they are looking for. Having said that we never really understand – and neither do they – what they really want until we sit in the car with them and can tell by their reaction to a particular property what turns a customer on or off. However, the point is that having established by email what they would like to see and when they will be here and appointments made – that is the last we hear of them! Even when we know where they are staying and leave messages at the hotel – nothing! And then there are those people who do turn up and spend a couple of days seriously looking at houses, identify their dream home, meet with the owner, agree terms, meet with the lawyers and then after they have gone never communicate again. Over the years we have learned to distinguish serious buyers from “brick kickers” although never discount the latter who may be next years serious buyer. However, I still find it strange in these days of easy communication that some people find it difficult to simply say “Thanks but no thanks!” As Uncle Bill said “There’s nowt so queer as folk!”
There is a statistical war breaking out between two of the major international real estate companies with one claiming that residential prices in Thailand have fallen by 18% whilst another claims prices have risen by 5.4%. Reading the reports it seems they are not comparing like with like. I have reported month on month the decline in asking prices here in Koh Samui and it is the properties that have made that adjustment that have been selling. The Bangkok market is clearly different and generalized comments are not helpful. Make your own mind up and you can read the two reports here:
CBRE Richard Ellis and Knight Frank Global House Price Index .
Social Marketing is the buzz word to day and whether we like it or not you have to play along to stay in the game. To this end Ko Samui Properties can be found on Face Book and Twitter . Sign up to receive up to the date news on the market in Koh Samui including all the price reductions!
Going through and updating my contact list for Koh Samui agents and developers this month I found that I had to delete 21 companies. Of the ones that appear to be left, at least by their web presence, I was surprised to see properties still being offered which I know were sold months if not years ago. It is a continuing battle to keep the web site correct and up to date and we try and contact all owners on a regular basis to ensure the property is still available and correctly priced. We are not perfect and once in a while we can get caught out with recent sales, but not with regard to properties sold months ago!
Asking prices for land have remained pretty static and, until now, not fallen in the same way as house prices. However in the last month we have seen sellers start to drop their prices with reductions of between 20% and 27%.
More and more people are recognizing that there has been a significant market adjustment over the last 12-18 months. Each week we get instructions to reduce asking prices to levels more appropriate to the prevailing market conditions and you can find these on our web site at the Hot Press Offers . You will see a great number of properties with prices that have been reduced from between 17% and 37% with an average reduction this month of 34%. These reductions are producing sales and, although still not many, there are a few more buyers around than there were a few weeks ago.
4 Bedroom Ocean front House in Ban Tai – Baht 150,000,000 Now available at - Baht 99 million
We are also please to confirm that we have been invited to offer
The Residences at W Koh Samui
The Residences at W Koh Samui
A development of high quality villas adjoining the Starwood operated W Hotel in Maenam with spectacular ocean views towards Koh Phangan. Finished to the highest specification offering the discerning buyer the best in tropical living with the services of a five star hotel. Contact us for further details
To receive the full monthly Newsletter from Ko Samui Properties please email me at hbonning@kosamuiproperties.com
Wednesday, 3 February 2010
Ko Samui Properties February Newsletter
One of my sources of information for this Newsletter is a regular email I received from Horst Meier who follows all the changes to the administrative districts throughout Thailand. A recent email included some interesting facts which if, like me, you do not speak or read Thai explain a few place names. I have included the full text below.
Social Marketing is the buzz word to day and whether we like it or not you have to play along to stay in the game. To this end Ko Samui Properties can be found on Face Book at_ http://tiny.cc/SSJEi Twitter at http://tiny.cc/4XaHA . Sign up to receive up to the date news on the market in Koh Samui including all the price reductions!
Koh Samui is not alone in seeing significant reductions in residential prices as an article I reproduce below shows that Singapore has also seen price reductions of 26%.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 17% and 37% with an average reduction this month of 28%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
Now available at - Baht 19 million
Now available at - Baht 39 million
Now available at - Baht 22 million
If you would like to receive a full copy of the monthly Newsletter, please send an email to hbonning@kosamuiproperties.com
Monday, 4 January 2010
Koh Samui - Review of the year
Another year has flown by and as we enter the New Year may I wish you all the best of health and good fortune for 2010 and for the Chinese Year of the Tiger which starts on 14th February but more on that next month! 2009 is probably not an ideal year to reflect on as the world seemed to lurch from one financial crisis to another. A year ago I was talking about the new coalition government from which we hoped for great things. Whilst they have survived I am not sure we have seen any major strides forward and political disharmony still exists. Neither did anything 
come of the discussions at the time to extend leases from 30 years to 90 years. However the visit to Koh Samui by the Prime Minister did herald the release of funds to improve the roads and evidence of that can now be seen as the ring road is bei
ng surfaced with tarmac with the stretch from Hua Thanon through to Bophut almost complete. The picture on the left is the stretch of road between Bangkok Samui Hospital and out office. The one on the right is by The Cliff Restaurant on the way to Lamai and shows the new road lines. Much needed improvements to the drainage system are also in progress with the stretch of the ring road from Bangkok Hospital to just south of our office complete and also the section which always floods badly by the bridge next to the PTT Petrol Station also finished.
In March I first reported the signs of asking prices coming down and this has continued throughout the year and the sales that we have achieved have all been on properties where the prices have been reduced. There are buyers around but they are keenly aware that they have a lot of choice and a great deal of bargaining power. One Bangkok based agent with an office on the island (see report below) rightly says that there has been a slight increase in demand in the last quarter of the year but closing deals has been very difficult and time consuming.
The series of Jazz Concerts organised by Asiam Travel have been a great success and all well attended from the first three at the airport and then at Amari Palm Reef, Kandaburi and the last one at Chaweng Paradise Beach resort. There is no concert in January but the there will be one in February, brief details below and more information in next months Newsletter.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 32%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
Luxurious 5 Bed Villa with pool in tropical garden in Lipa Noi – originally Baht 53 million
Now available at - Baht 30 million
2 Bed house in Santi Thani – originally Baht 5.95 million
Now available at - Baht 2.95 million
3 Bedroom Luxury Villa with pool between Bangrak and Chaweng – originally Baht 49.5 million
Now available at - Baht 32 million
To receive the full version of the monthly Newsletter, please email hbonning@kosamuiproperties.com
come of the discussions at the time to extend leases from 30 years to 90 years. However the visit to Koh Samui by the Prime Minister did herald the release of funds to improve the roads and evidence of that can now be seen as the ring road is bei
ng surfaced with tarmac with the stretch from Hua Thanon through to Bophut almost complete. The picture on the left is the stretch of road between Bangkok Samui Hospital and out office. The one on the right is by The Cliff Restaurant on the way to Lamai and shows the new road lines. Much needed improvements to the drainage system are also in progress with the stretch of the ring road from Bangkok Hospital to just south of our office complete and also the section which always floods badly by the bridge next to the PTT Petrol Station also finished.In March I first reported the signs of asking prices coming down and this has continued throughout the year and the sales that we have achieved have all been on properties where the prices have been reduced. There are buyers around but they are keenly aware that they have a lot of choice and a great deal of bargaining power. One Bangkok based agent with an office on the island (see report below) rightly says that there has been a slight increase in demand in the last quarter of the year but closing deals has been very difficult and time consuming.
The series of Jazz Concerts organised by Asiam Travel have been a great success and all well attended from the first three at the airport and then at Amari Palm Reef, Kandaburi and the last one at Chaweng Paradise Beach resort. There is no concert in January but the there will be one in February, brief details below and more information in next months Newsletter.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 32%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
Luxurious 5 Bed Villa with pool in tropical garden in Lipa Noi – originally Baht 53 million
Now available at - Baht 30 million
2 Bed house in Santi Thani – originally Baht 5.95 million
Now available at - Baht 2.95 million
3 Bedroom Luxury Villa with pool between Bangrak and Chaweng – originally Baht 49.5 million
Now available at - Baht 32 million
To receive the full version of the monthly Newsletter, please email hbonning@kosamuiproperties.com
Thursday, 3 December 2009
Koh Samui Real Estate Blog
The long awaited improvements to Samui roads have at last started with tarmac being laid on the ring road starting just to the north of Hua Thanon and at the time of writing this Newsletter now going through Lamai. Much needed improvements to the drainage system are also in progress with the stretch of the ring road from Bangkok Hospital to just south of our office complete and also the section which always floods badly by the bridge next to the PTT Petrol Station also finished.
In the main section of the Newsletter you will find an article referring to the status of Koh Samui and the possibility of it becoming a special economic zone such as Pattaya and Bangkok. Samui was upgraded to a Town Municipality recently and it was never going to achieve City status as there was no way it could meet the criteria on population density. The status of Samui has always been a contentious issue with Surat Thani Province due to the revenue it produces, very little of which was retained by the island and people here could see the money being spent on roads on the mainland but nothing here. It always seemed to me that the way forward was through the special economic zone option and I commented on this in the August 2007 Newsletter. The new Town status has already produced results in greater funding for infrastructure improvements as mentioned above and becoming a special economic zone would give greater control on island finances.
I have always had an issue with the statistics provided by the Tourist Authority of Thailand. Firstly they are always so far out of date as to be nearly useless and there is no indication on how they are compiled. The latest set of figures which relate to Koh Samui are for the period April to June 2008. Every month I see information on arrivals in Hong Kong and Singapore for the previous month and from that it is possible to see the trend in tourism and travel. Statistics that are eighteen months old are of marginal use at best and from my own past experience of these not very accurate. Therefore be wary of any one quoting TAT statistics to you – they will be old and probably inaccurate.
I had further confirmation recently that Marriott have plans to develop another hotel on the island but that has been deferred until 2011.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 32%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
4 bedroom house in Bangrak with private walled garden and pool. Originally Baht 10.9m.
Now available at Baht 8.5 million.
2 bedroom Leasehold town house in Plai Laem – originally Baht 2.75 million.
Now available at Baht 2.1million.
3 bedroom house in Choengmon with pool – originally Baht 6.6 million.
Now available at Baht 3.9 million.
To receive a copy of the full monthly Newsletter please email hbonning@kosamuiproperties.com
In the main section of the Newsletter you will find an article referring to the status of Koh Samui and the possibility of it becoming a special economic zone such as Pattaya and Bangkok. Samui was upgraded to a Town Municipality recently and it was never going to achieve City status as there was no way it could meet the criteria on population density. The status of Samui has always been a contentious issue with Surat Thani Province due to the revenue it produces, very little of which was retained by the island and people here could see the money being spent on roads on the mainland but nothing here. It always seemed to me that the way forward was through the special economic zone option and I commented on this in the August 2007 Newsletter. The new Town status has already produced results in greater funding for infrastructure improvements as mentioned above and becoming a special economic zone would give greater control on island finances.
I have always had an issue with the statistics provided by the Tourist Authority of Thailand. Firstly they are always so far out of date as to be nearly useless and there is no indication on how they are compiled. The latest set of figures which relate to Koh Samui are for the period April to June 2008. Every month I see information on arrivals in Hong Kong and Singapore for the previous month and from that it is possible to see the trend in tourism and travel. Statistics that are eighteen months old are of marginal use at best and from my own past experience of these not very accurate. Therefore be wary of any one quoting TAT statistics to you – they will be old and probably inaccurate.
I had further confirmation recently that Marriott have plans to develop another hotel on the island but that has been deferred until 2011.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 32%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
4 bedroom house in Bangrak with private walled garden and pool. Originally Baht 10.9m.Now available at Baht 8.5 million.
2 bedroom Leasehold town house in Plai Laem – originally Baht 2.75 million.
Now available at Baht 2.1million.
3 bedroom house in Choengmon with pool – originally Baht 6.6 million.
Now available at Baht 3.9 million.
To receive a copy of the full monthly Newsletter please email hbonning@kosamuiproperties.com
Tuesday, 10 November 2009
How to sell properties in Koh Samui
The first question we are asked once we have inspected a property is “What is my house worth?” And therein lies an immediate issue. Worth to whom? In a normal market I would follow the guidelines of the International Valuation Standards Committee of the Royal Institution of Chartered Surveyors which states that Market Value is defined as ‘The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.’ Whilst I may have a willing buyer and a willing seller, the seller may be under a great deal more pressure to sell whilst the buyer may be under absolutely no pressure to buy. This is a buyers market and when offering a property for sale the expectations of the seller need to be established. Is there an urgent reason for the sale and do they have a time limit they are working to? We do get a number of sellers who just wish to move on and are in no particular hurry and will wait until the market improves. But for those people who need to sell quickly there is a different approach. The question that I ask is “What is the lowest price you are prepared to accept at this moment in time to achieve a sale?” This is no longer about getting the best price, this is about achieving a quick sale without the seller losing money if possible. Sometimes it isn’t – but that is a decision for the seller. Take into account the fees involved in the sales process and allow something for negotiation and that is the figure at which you go to the market.
Will this work? Absolutely. In the last six weeks we have applied this approach to two properties. Both sold within two weeks of going on the market. The sellers were happy because they achieved their objective in selling the property at a price acceptable to them and the buyers were happy because they had bought something which was good value. But I repeat – this is not about achieving the highest price – this is about achieving a sale in a very weak market.
For anyone interested in the convoluted mess of Thai politics, this article in the Bangkok Post last month may be of interest.
The NE Monsoon arrived last week with quite a bang early one morning with a massive thunderstorm right overhead. The low pressure systems that run in a string across this region have now moved south so I think we will be seeing the usual rainy weather for this time of year.
I have commented in all recent Newsletters about the fall in asking prices, and indeed in sale prices as these reduced priced properties are taken up. I have for sometime believed that this trend of 20-30% price reductions is not restricted to Koh Samui or indeed residential properties. This has been confirmed in a study by the RICS which shows that values in the commercial property market in Singapore have fallen by 30% in the nine months to June this year and office rentals declining by as much as 50% in some sectors.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 33%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
2 bedroom house in Bophut with communal garden and pool. Originally Baht 5.7m. Now available at Baht 4.5 million.
3 bedroom luxury villa between Chaweng and Bophut with pool – originally Baht 49.5 million. Now available at Baht 36m.
2 bedroom house in Bangrak with pool – originally Baht 9 million. Now available at Baht 6 million.
Will this work? Absolutely. In the last six weeks we have applied this approach to two properties. Both sold within two weeks of going on the market. The sellers were happy because they achieved their objective in selling the property at a price acceptable to them and the buyers were happy because they had bought something which was good value. But I repeat – this is not about achieving the highest price – this is about achieving a sale in a very weak market.
For anyone interested in the convoluted mess of Thai politics, this article in the Bangkok Post last month may be of interest.
The NE Monsoon arrived last week with quite a bang early one morning with a massive thunderstorm right overhead. The low pressure systems that run in a string across this region have now moved south so I think we will be seeing the usual rainy weather for this time of year.
I have commented in all recent Newsletters about the fall in asking prices, and indeed in sale prices as these reduced priced properties are taken up. I have for sometime believed that this trend of 20-30% price reductions is not restricted to Koh Samui or indeed residential properties. This has been confirmed in a study by the RICS which shows that values in the commercial property market in Singapore have fallen by 30% in the nine months to June this year and office rentals declining by as much as 50% in some sectors.
And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 33%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
2 bedroom house in Bophut with communal garden and pool. Originally Baht 5.7m. Now available at Baht 4.5 million.
3 bedroom luxury villa between Chaweng and Bophut with pool – originally Baht 49.5 million. Now available at Baht 36m.
2 bedroom house in Bangrak with pool – originally Baht 9 million. Now available at Baht 6 million.
Friday, 9 October 2009
VAT, Language and Trouble in Thailand!
Value Added Tax (VAT) has been a fact of life in many countries for years and is gradually being implemented in many more. Thailand requires registration for VAT on any business the turnover of which exceeds Baht 1.8 million per year. Therefore when you first open a business you do not need to register until you reach that magic figure. Of course during that period you cannot reclaim VAT charged by your suppliers either. The implication of that magic number was highlighted recently with a couple of properties on which I was advising. Both small with relatively small incomes but which projections showed would grow over the next few months and exceed the registration limit.
I will give an example to illustrate the point. You have a Room Rate of Baht 1,000 per night. Your income one day reaches Baht 1.8 million. You are required to register for VAT. Your net rate suddenly becomes Baht 935. OK, so now you can set off suppliers VAT, but many are not registered themselves so the offset tends to be minimal. To maintain the status quo you have to increase your room rate to Baht 1,070 per night and in a climate where lack of tourism is putting pressure on room rates anyway, that may not be feasible. It not only affects your room rate but all your other income as well – food, drink and any other services you may charge for. Something of a dilemma but a bullet that has to be bitten at some point if you are intent on expanding your business.
It does not matter in which country you live but there is always amusement to be had when languages get mangled in translation. I was told a story recently of someone who received a phone call from his house maid that his cat had come home with its ears painted green. He instructed the maid to collar the cat – presumably to stop it straying. When he got home he found the cat had been painted with white gloss paint. The maid had not understood collar and thought he meant colour the cat. Let’s not get into the “use her common sense” argument. He now has the only bald cat with green ears on Samui. I had another amusing experience with someone very close to me. Driving in the car one night I had a CD playing with the Nat King Cole classic “Straighten up and Fly Right”. After a few minutes of listening to this she turned to me and asked “Why he sing about fried rice?” Work it out for yourself!
Last month the main topic of conversation was the unfortunate crash of the Bangkok Airways ATR at Samui Airport. One of the reports was from someone who had been listening to the Air Traffic Control transmissions at the time. If you want to know more about Samui Airport, the radio frequencies and look at the approach charts for pilots you can find all this on line here at this link. Or this one for detail from The Thai Flying Club.
The television documentary shown on Bravo in the UK and widely distributed on You Tube “Big Trouble in Thailand” has drawn mixed reactions, mainly critical from the Thai authorities. Having now watched four of the episodes the only one which in my opinion shows Thailand in a bad light is the incident with the jet-ski operator in Phuket. The rest show the tourists in a much worse light. I have never been to a Full Moon Party on Koh Phangan and have no wish to do so. I do know many people who have been there and it is clear that drugs are widely available. If the Police arrested everyone in possession of drugs there they would need a very large holding facility. Why then did the girl in the programme get pulled for a small amount of marijuana? She was lucky to get off as lightly as she did although it was obviously a very harrowing experience.
And property prices continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction of 37% during this last month. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
3 bedroom house in Bangrak with walled garden and pool. Originally Baht 15m. Now available at Baht 10.9 million.
2 bedroom bungalow in Plai Laem with pool – originally Baht 11 million. Now available at Baht 8.8m.
If you would like to receive the regular full monthly Newsletter from Ko Samui Properties, please send an email to hbonning@kosamuiproperties.com
I will give an example to illustrate the point. You have a Room Rate of Baht 1,000 per night. Your income one day reaches Baht 1.8 million. You are required to register for VAT. Your net rate suddenly becomes Baht 935. OK, so now you can set off suppliers VAT, but many are not registered themselves so the offset tends to be minimal. To maintain the status quo you have to increase your room rate to Baht 1,070 per night and in a climate where lack of tourism is putting pressure on room rates anyway, that may not be feasible. It not only affects your room rate but all your other income as well – food, drink and any other services you may charge for. Something of a dilemma but a bullet that has to be bitten at some point if you are intent on expanding your business.
It does not matter in which country you live but there is always amusement to be had when languages get mangled in translation. I was told a story recently of someone who received a phone call from his house maid that his cat had come home with its ears painted green. He instructed the maid to collar the cat – presumably to stop it straying. When he got home he found the cat had been painted with white gloss paint. The maid had not understood collar and thought he meant colour the cat. Let’s not get into the “use her common sense” argument. He now has the only bald cat with green ears on Samui. I had another amusing experience with someone very close to me. Driving in the car one night I had a CD playing with the Nat King Cole classic “Straighten up and Fly Right”. After a few minutes of listening to this she turned to me and asked “Why he sing about fried rice?” Work it out for yourself!
Last month the main topic of conversation was the unfortunate crash of the Bangkok Airways ATR at Samui Airport. One of the reports was from someone who had been listening to the Air Traffic Control transmissions at the time. If you want to know more about Samui Airport, the radio frequencies and look at the approach charts for pilots you can find all this on line here at this link. Or this one for detail from The Thai Flying Club.
The television documentary shown on Bravo in the UK and widely distributed on You Tube “Big Trouble in Thailand” has drawn mixed reactions, mainly critical from the Thai authorities. Having now watched four of the episodes the only one which in my opinion shows Thailand in a bad light is the incident with the jet-ski operator in Phuket. The rest show the tourists in a much worse light. I have never been to a Full Moon Party on Koh Phangan and have no wish to do so. I do know many people who have been there and it is clear that drugs are widely available. If the Police arrested everyone in possession of drugs there they would need a very large holding facility. Why then did the girl in the programme get pulled for a small amount of marijuana? She was lucky to get off as lightly as she did although it was obviously a very harrowing experience.
And property prices continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction of 37% during this last month. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:
3 bedroom house in Bangrak with walled garden and pool. Originally Baht 15m. Now available at Baht 10.9 million.
2 bedroom bungalow in Plai Laem with pool – originally Baht 11 million. Now available at Baht 8.8m.
If you would like to receive the regular full monthly Newsletter from Ko Samui Properties, please send an email to hbonning@kosamuiproperties.com
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