A parliament of owls? A murder of crows? A flock of geese?

But what’s the collective noun for a lot of available new condo developments in Bangkok?

A glut of Condos?

As Thailand’s economy is hit by the double whammy of fallout from US-China trade wars and lingering political instability, stricter mortgage-lending rules are also kicking in creating a buyer’s market in the capital.

Some basic statistics… 65,000 new apartments became available last year. That’s 11% more than 2017 and the most since 2009. But a Knight Frank reports indicates that demand is down and asking prices have decreased 6% year-on-year. Rental prices have also softened as recent investors remain keen to find tenants.

Aliwassa Pathnadabutr, a managing director of CBRE Group in Thailand, says that it’s a great time to get into the BKK market with prices down a bit and the selection better than ever.

“The overall condominium market will be slower this year but there are still opportunities in some locations with the right product at the right price. We believe the market is entering an equilibrium stage where prices will be adjusted to a more realistic level.”

Revised mortgage-lending rules that came into effect from April 1 are also dampening enthusiasm for property because lenders will now restrict the amount of money some buyers can borrow.

Meanwhile Brennan Campbell from FazWaz.com says the biggest developers are wanting to cash in their stock so they move on to the next projects.

“Some of the country’s largest developers are holding a huge inventory of completed or soon-to-be completed stock where they have seen demand soften through the first two quarters of 2019. The motivation to sell these units is growing as this capital is required to fund future projects. The result? A supply of incredible units in some of the best areas of Bangkok where buyers can be more creative in their negotiation strategies in order to secure the best overall value.”

Part of the softening in sales may also be linked to a drop in Chinese visitors to the capital. Whilst not a huge drop it is measurable considering that Chinese investors have historically been the principal foreign property buyers in Thailand. The lack of Chinese visitors is mostly a domestic problem with China’s economy softening as the US-China trade war bites.

CBRE reported recently that Thailand’s real estate market had a high reliance on foreigners.

“Most of the recent foreign buyers are investors and CBRE doubts they will live in the units they have bought. Foreign sales are highly sensitive to economic conditions of the buyer’s home country.”

Sopon Pornchokchai, president of the Agency for Real Estate Affairs, reports that a total of 454,814 residential units across the country were unsold in 2018.

A man was killed inside a convenience store at sunrise today in Saraburi province, north of Bangkok, after shouting out loud, “If you have a gun, shoot me”.

The victim is identified as 59 year old Preecha Khunthong. He was shot several times between the eyes.

“I don’t know what happened between him and the gunman. At first, they spoke very softly before I heard the victim loudly challenging the other to shoot if they really had a gun,” said the cashier.

Her name has been withheld. According to her, the victim was about to pay for instant coffee when the gunman approached him.

Thai Airways has had an 83% dive in profits for the first quarter of 2019. The Q1 balance sheet came out yesterday.

The airline’s management is blaming the high baht, the ongoing US-China trade wars and the closure of Pakastani airspace (forcing rerouting of its Eurpean flights), for the drop.

• Net profit of 456 million baht, down from a 2.7 billion baht profit in the first three months of last year

• Revenue of 49.7 billion baht, down 6.9% on the same period last year

The Thai Airways President Sumeth Damrongchaitham is laying the blame at the strong appreciation of the baht against major currencies saying it makes it impossible for the airline to raise air ticket prices.

Quoted in the Bangkok Post, he said… “Although the baht’s appreciation helped lower some expenses, including loan payments and lease payments for aircraft and engines, this benefit remains minimal.”

He also cited the ongoing trade spat between the US and China taking a toll on the airline’s cargo business, which saw earnings drop 12.9%.

In February, following Pakistani border stoushes with India, Thai Airways aircraft needed to make detours for their European traffic, which pushed up fuel costs, according to Mr Sumeth.

The airline plans to sell products on its website and mobile app in September to increase revenue.