Bangkok: City of Swamps and ScamsPosted: May 24, 2011
If you’re thinking of buying a house in Bangkok, take a few minutes to read on and consider whether it’s a sensible investment.
Construction methods in Thailand’s capital leave a lot to be desired and first-time foreign witnesses of this antediluvian approach to building are often shocked at the conditions under which labourers carry-out their tasks. It is not uncommon to see entire families shacked up in make-shift homes on the side of the road while they complete a building project. Children run euphorically around the site while mum and dad toil under the burden of heavy loads, wearing open-toe shoes and wide-brimmed hats as their only safety gear. A project which would take a month to complete in the West, takes five months in Bangkok. Houses are erected on bamboo scaffolding, concrete mixed with water from polluted sources, and contractors cut corners on material costs then pocket the difference.
Needless to say then that many houses in Bangkok don’t last long and, like many things in Thailand, behind the pretty white-painted façade, are the deep cracks and structural weaknesses that will leave your investment practically worthless in around 10 years. For those who have visited or lived in Thailand, “ghost buildings” are a common sight. These empty shells stand disused and blackened from pollution, with remnants of the former occupants – posters on the walls, curtains fluttering in the wind – still left untouched, creating an eerie effect. Many of these ghost buildings are half-finished projects that were left undone after money dried up in the Asian financial crisis of 1997. Some of them are just abandoned apartment complexes that are no longer structurally safe.
And if that’s not enough to convince you that buying property in Thailand is an iffy business, get this: Bangkok is sinking. Yes, you heard it, our beloved city of angels is sinking, and experts predict that parts of the city may have to be abandoned as encroaching waves are aided by poor drainage systems, depressions in the earth’s crust – caused by water for industry being extracted from underground aquifers – and poor flood defences. Once dubbed the “Venice of the East,” Bangkok started out as a trading post on the west bank of the Chao Phraya River, where natural and man-made canals provided transport and drainage. During the post-World War II race to modernize, many of the canals were filled in as the automobile-hungry population demanded road space.
Because Bangkok is built on sediment, rather than bedrock, the city is slowly sinking. Estimates vary from 2 to 4 inches per year but that it is sinking cannot be disputed. Parts of the capital are already below sea level and the coastline rises just 3 to 5 feet above the Gulf of Thailand. Smith Dharmasaroja, chair of the government’s Committee of National Disaster Warning Administration, says that Bangkok will be under sea permanently in the next 15 to 20 years. Bangkok is the heart of Thailand and if it goes under water, “everything would stop,” says Dharmasaroja. Experts all agree that Bangkok is headed for trouble, though no-one agrees on when. However, one thing to consider is that Bangkok has been under the sea before, as recently as 5,000 years ago; perhaps this swampy city is headed there again!