Opportunities in Bangkok’s second-hand business market have never been better Prices of small and medium businesses for sale already plummeting, creating some rich pickings for investors taking a long-term view of prospects for the Thai economy.
Brokers say that the asking prices of going concerns like restaurants, bars, pubs, small hotels and hostels have dropped significantly since the COVID-19 virus outbreak. “There’s never been a better time to buy a business,” said one of Bangkok’s most experienced brokers. “Bargains are
everywhere and more are coming.
“Last month I sold a European restaurant in Bangkok for under 50% of the listed price. The buyer, also from Europe, has got a great deal.
“A bar in the Central Business District was last week reduced from 5.5 million baht to just 3.5 million baht. That’s potentially another fantastic deal – if you’ve got the money,” he cautioned.
Among the other bargains right now is a recently refurbished pub in the CBD and a go-go in Nana Plaza, which has been reduced in price from 12 million baht to just two million baht. Nightlife areas like Nana have been told to close under the new government lockdown of Bangkok. Restaurants have also been forced to shut until the middle of this month, or maybe longer, depending on the effectiveness of the new regulations.
Meanwhile, brokers are witnessing a big increase in the number of businesses for sale. “It’s an unusual situation which will see a correction in the not too distant future. For now, though, it’s bargain time,” remarked one middleman.
everywhere and more are coming.
“Last month I sold a European restaurant in Bangkok for under 50% of the listed price. The buyer, also from Europe, has got a great deal.
“A bar in the Central Business District was last week reduced from 5.5 million baht to just 3.5 million baht. That’s potentially another fantastic deal – if you’ve got the money,” he cautioned.
Among the other bargains right now is a recently refurbished pub in the CBD and a go-go in Nana Plaza, which has been reduced in price from 12 million baht to just two million baht. Nightlife areas like Nana have been told to close under the new government lockdown of Bangkok. Restaurants have also been forced to shut until the middle of this month, or maybe longer, depending on the effectiveness of the new regulations.
Meanwhile, brokers are witnessing a big increase in the number of businesses for sale. “It’s an unusual situation which will see a correction in the not too distant future. For now, though, it’s bargain time,” remarked one middleman.
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