Has anyone looked at the prospect of buying run down Thai houses and doing a basic renovation then putting then back on the market.
The reason this has come to thought is after a big discussion with the missus she explained that the Thai mind set is that as a house gets older it value is decreased due to use. They don't understand any idea of land appreciation or value to build new, just that it costs more. In the west we look at buying a house as an investment you can't lose on (OK, we know whats happened in the last year) with land and building cost appreciating every year.
As we know the big cost in a new build is the structure and roof. If that is already intact then it makes sense that to renovate a cheaply purchased house that is mainly labour intensive could be a cheap deal.
I reckon it's and interesting thought anyway.
OK, i am ready to get bombarded on this topic so let it rip.