BUYER BEWARE
Condo-mania strikes Bangkok again
Buyers lost billions in the 1997 crash, now warnings of another bubble burst are causing people concern
A towering cement skeleton on Phahon Yothin Road, one of Bangkok's notorious "ghost" buildings abandoned after the 1997 financial crisis, still haunts Nichapat Tulsakchuentana.
Her parents paid over one million baht for a condominium in the unfinished high rise. The fallout from the 1997 crisis, which devalued the baht and caused businesses to crumble, did not spare this project.
Almost 15 years later, her family has yet to get a single baht back from the developer.
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About the author
- Writer: Surasak Glahan
- Position: Reporter
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