I guess that, being in the emotionally charged real estate business, we should never be too surprised at the way some people seem to lose their common sense or, more to the point, become greedy when tempted by the thoughts of relatively easy money.
We see homes on the market at double the market value; condos which have been on the market for over 3 years without a single enquiry, and now the owner wants to increase the price by 20%; other properties where the amount sought bears no relationship to the real world… but that’s what the owner wants as they have to pay off a debt/fund their children’s education/they have been told by a distant relative that similar properties in Bangkok are worth the same as in Chiang Mai and so on.
Of course, every owner is entitled set the price at which they wish to sell their property but sometimes we, as agents, have to take a step back and ask: “Where on earth did that asking price come from?”
Comments and questions always welcome…
Perfect Homes is a leading Chiang Mai real estate agency with extensive experience in the city, regionally, nationally and internationally.