Corner of Diana and 2nd road demolished

[newnative]

4 hours ago, rickthailand said:

https://www.sansiri.com/condominium/edge-central-pattaya/th/index.html

 

sales starting soon i see starting at 4 mil.

     Yes.  Prices beginning at 4 million baht for a 26 sqm, likely no seaview, studio with no balcony.   And, I think that's Thai name price. Foreign quota I believe is around 4.6MB.   Good location but the foreign quota pricing I believe is starting around 180,000 baht a sqm.  

     My partner and I have never paid more than 100,000 baht a sqm for any studio or 1 bedrooms, off-plan or already built, and that includes an off-plan studio pied-a-terre we are now buying at a good location near Makkasan station in Bangkok; and 1 bedroom high floor seaview condos we bought and sold at a profit at The Base, Centric Sea, and Unixx.  The Base was around 85,000 baht a sqm. and Centric Sea and Unixx around 71,000 baht/sqm.   The Edge numbers won't work with what we do.

[balo]

26 sqm 4.6

 

It will never be sold for 4.6 mill . Only to stupid investors . 

I am sure huge discounts will be available soon .  

Edited May 4, 2018 by balo

[bkk6060]

6 minutes ago, newnative said:

     Yes.  Prices beginning at 4 million baht for a 26 sqm, likely no seaview, studio with no balcony.   And, I think that's Thai name price. Foreign quota I believe is around 4.6MB.   Good location but the foreign quota pricing I believe is starting around 180,000 baht a sqm.  

     My partner and I have never paid more than 100,000 baht a sqm for any studio or 1 bedrooms, off-plan or already built, and that includes an off-plan studio pied-a-terre we are now buying at a good location near Makkasan station in Bangkok; and 1 bedroom high floor seaview condos we bought and sold at a profit at The Base, Centric Sea, and Unixx.  The Base was around 85,000 baht a sqm. and Centric Sea and Unixx around 71,000 baht/sqm.   The Edge numbers won't work with what we do.

You should have hung onto that Base property.

The current place I am living at The Base is on the market for 4.8 million. High floor, good ocean view.

That brings it in at 150,000 a sq. meter.  The high floor, larger balcony places here have gone up as much as 40% since the place opened.  That is what I have been told by office staff.

 

But, who knows the truth about anything real estate related here as there is no transparency, no multiple listings, etc.

 

 

[bkk6060]

5 minutes ago, balo said:

26 sqm 4.6

 

It will never be sold for 4.6 mill . Only to stupid investors . 

I am sure huge discounts will be available soon .  

I disagree, but it will be interesting to watch.

I am sure you know the saying: location, location, location.

As much as some dislike it, the location is central and you can walk to everything in a few minutes.

Malls, movies, shopping, massage, restaurants, the beach, etc.

Not too many new projects around with those available amenities within walking distance.

 

I don't think Sansiri is stupid.  I bet the place will sell well rather quickly especially since they are claiming it will be the highest end/quality property that Sansiri can build.

 

[balo]

16 minutes ago, bkk6060 said:

I am sure you know the saying: location, location, location.

If an investor wants to make a business out of it , it will take too many years to get back that money. Unless he can rent out for 40k-50k and always find tourists willing to pay that .  But who wants to rent for 40k in a shoe box , when you have so many other units available , also in central locations. 

 

Sure if you have money to waste and maybe want to live there yourself and don't care about the prices , then do it. Lots of Thais with enough money , but they can also choose anything they like . 

 

 

  

[newnative]

7 minutes ago, bkk6060 said:

You should have hung onto that Base property.

The current place I am living at The Base is on the market for 4.8 million. High floor, good ocean view.

That brings it in at 150,000 a sq. meter.  The high floor, larger balcony places here have gone up as much as 40% since the place opened.  That is what I have been told by office staff.

 

But, who knows the truth about anything real estate related here as there is no transparency, no multiple listings, etc.

 

 

         It's always a question mark as to when to sell.  We didn't like the direction The Base was going with all the daily renters.  We got a good offer that netted us about a million baht profit, in addition to the 250,000 baht we had collected in rent over the time we owned the condo.  Being bird-in-the-hand kind of guys, we took the offer.  Not long after the sale, our tenant got fed up with the daily renters and he moved out.  We might have kept the condo if we were going to do the daily rental bit but that's not our thing.

       I think seaview condo projects in Pattaya with good locations enjoy a nice run-up in value and then the prices sort of level off and stabilize.  Hipflat does list one 1 bedroom condo at The Base for 150,000 baht a sqm. The rest, though, are mostly priced in the 100,000 to 125,000 baht range, even for those on floors in the teens.  Our buyer paid a little over 125,000 baht/sqm.  If I had to guess, I'd say The Base will stabilize around that price point, or less, as an average price per sqm.  It's around 113,000 now.  The Edge, though, might serve to pull it up some with its very lofty 180,000 baht a sqm.

[newnative]

48 minutes ago, bkk6060 said:

I disagree, but it will be interesting to watch.

I am sure you know the saying: location, location, location.

As much as some dislike it, the location is central and you can walk to everything in a few minutes.

Malls, movies, shopping, massage, restaurants, the beach, etc.

Not too many new projects around with those available amenities within walking distance.

 

I don't think Sansiri is stupid.  I bet the place will sell well rather quickly especially since they are claiming it will be the highest end/quality property that Sansiri can build.

 

      Yes, it will be interesting to see how it goes.  I like Sansiri--almost bought one of their Baan Plai Haad condos.  My concern with The Edge is the lack of larger units in a supposedly luxury project. The biggest 2 bedrooms are only around 60sqm and some 2 bedrooms are only 48sqm.  (48sqm gets you a studio at View Talay.)  By comparison, The Base has 2 bedrooms of 50, 62, and 70sqm--and more of them. Edge has only two 2 bedrooms per floor; the rest are all small studios with no balconies; it's hard for me to equate small studios with luxury.  By the by, Sansiri's highest end/quality property, in my opinion, is 98 Wireless, in Bangkok.  Hipflat price per sqm: 697,000 baht and change.  Smallest unit listed: 130sqm.

[balo]

41 minutes ago, newnative said:

Edge has only two 2 bedrooms per floor; the rest are all small studios with no balconies; it's hard for me to equate small studios with luxury.

That says it all really .  Most units have a balcony , and I would not call that luxury . Building "luxury" small studios without balconies , who wants to live there?    

 

Maybe they do it to avoid foreigners jumping off them. 

 

[newnative]

46 minutes ago, balo said:

That says it all really .  Most units have a balcony , and I would not call that luxury . Building "luxury" small studios without balconies , who wants to live there?    

 

Maybe they do it to avoid foreigners jumping off them. 

 

I couldn't live without a balcony, the bigger, the better.

[bkk6060]

On the big picture any owners of condo's in this town should be supporting and applauding this new project.

If the prices seem high but people are buying, it can possibly set a higher bar for pricing so why complain?

Mostly seems it is a potential plus for the Condo owners.

 

Edited May 4, 2018 by bkk6060

[Destiny1990]

2 hours ago, newnative said:

I couldn't live without a balcony, the bigger, the better.

Yes but Unixx hardly any balcony so then why buy it?

U made one bedroom in view talay 7 out of curiosity did u insert it with an window?

[DrTuner]

6 hours ago, balo said:

26 sqm 4.6

 

It will never be sold for 4.6 mill . Only to stupid investors . 

I am sure huge discounts will be available soon .  

Sounds like the good old times in 2008. Somebody flipping them is going to end up with the short stick.

[newnative]

8 minutes ago, Destiny1990 said:

Yes but Unixx hardly any balcony so then why buy it?

U made one bedroom in view talay 7 out of curiosity did u insert it with an window?

     I wasn't living in the 1 bedroom at Unixx.   It was bought to be a rental and then we decided to flip and sell it.  The 1 bedroom Unixx balcony is not large but it is just big enough for a washing machine and a small bistro table and 2 chairs. 

     At VT7 (and also VT 5) we made what I call a junior 1 bedroom, not what I would consider to be a true 1 bedroom.  We divided the rectangular studio room about in half and put the living/dining/kitchen functions in the front area, since the kitchen hookups are already there with the empty shells and the design works best that way anyway. The dividing wall had a sliding pocket door to save space and frosted window panels that could be opened and closed for privacy and to let air and views into the living room area when open.  (Both room halves had separate a/c units.)

    The bedroom, with a custom armoire/desk combination along one wall, was in the back half for privacy.  By putting it in back by the balcony you also take advantage of the full width of the condo and don't have a hallway running along where the bedroom would be if you enclose it in front.  We made sure there was enough space for a custom king bed and custom bed tables.  (I hate when a bed is pushed against a wall and you can't walk around it--that's bad design.) The sliding door was by the armoire unit so when the door was open,  the bed was mostly still hidden from view in the living/dining area.

      Contrary to making the space seem smaller, dividing the space actually made it appear bigger, as your eye was not taking everything in at once.  In an open studio, everything is immediately on view, nothing more to discover. By dividing, you have a progression of spaces, first the kitchen area, then the living/dining area and, then....hey, what's behind that wall?  Another whole room. 

[Henryford]

17 hours ago, newnative said:

I couldn't live without a balcony, the bigger, the better.

Me too, my balconies alone are bigger than the new condos here. I know location is important but those prices are crazy.

[morrobay]

25 minutes ago, Henryford said:

Me too, my balconies alone are bigger than the new condos here. I know location is important but those prices are crazy.

Location ? Wrong side of second rd. for beach and Central Festival. And like  Knee Deep astutely pointed out " You cant get away from your surroundings in Pattaya." That includes the locals .Wont elaborate but just look around. 4 M for a small studio without a balcony in that location ??

Edited May 5, 2018 by morrobay

[Psimbo]

I hate to threadjack ths back to the original subject but the Dianna Inn was the first place i ever stayed in pattaya, way back in 1989. Green Bottle Pub downstairs used to do a great steak.

 

If it is being turned into Condos it would not be a location of my choice. I have noticed that that area and north along Second Road seems to be a bit of an Indian ghetto now.

 

The Dianna group used to be everywhere- have they simply sold out and faded away or still up and running?.

[Destiny1990]

58 minutes ago, Psimbo said:

I hate to threadjack ths back to the original subject but the Dianna Inn was the first place i ever stayed in pattaya, way back in 1989. Green Bottle Pub downstairs used to do a great steak.

 

If it is being turned into Condos it would not be a location of my choice. I have noticed that that area and north along Second Road seems to be a bit of an Indian ghetto now.

 

The Dianna group used to be everywhere- have they simply sold out and faded away or still up and running?.

Indian Ghetto ? Aha then in that case i bet that the local ladyboys aren’t far away either.

[bkk6060]

16 hours ago, Henryford said:

Me too, my balconies alone are bigger than the new condos here. I know location is important but those prices are crazy.

Whats crazy is over one million dollars for a shack in Santa Monica.

People said the same thing about The Base and it is one of the few places that has experienced double digit appreciation.

Also,  if you look at who will mostly be buying these places it can seem like a bargain.  How much would they be in Hong Kong or other major cities with ocean views and walk to everything including the beach in 5 minutes?

I believe they will be a very very good investment.

[chicowoodduck]

5 minutes ago, bkk6060 said:

Whats crazy is over one million dollars for a shack in Santa Monica.

People said the same thing about The Base and it is one of the few places that has experienced double digit appreciation.

Also,  if you look at who will mostly be buying these places it can seem like a bargain.  How much would they be in Hong Kong or other major cities with ocean views and walk to everything including the beach in 5 minutes?

I believe they will be a very very good investment.

So I am sure you will be buying a boatload of condos in the future? ?

 

Much like Bitcom...it is only worth what you can actually sell it for.....??

[bkk6060]

1 hour ago, chicowoodduck said:

So I am sure you will be buying a boatload of condos in the future? ?

 

Much like Bitcom...it is only worth what you can actually sell it for.....??

HAHA.

I am not in the market for a Condo, but if I was I would buy there in a heart beat.

 

[morrobay]

For comparison : How much are the studios at the View Talay just South of Central Festival? Studios in better location, view, with balconies. Where would you rather be. 

[bkk6060]

15 hours ago, morrobay said:

For comparison : How much are the studios at the View Talay just South of Central Festival? Studios in better location, view, with balconies. Where would you rather be. 

If it was refurbished VT is very nice.

But, isn't that lot south still on board for a major project?

[newnative]

19 hours ago, bkk6060 said:

Whats crazy is over one million dollars for a shack in Santa Monica.

People said the same thing about The Base and it is one of the few places that has experienced double digit appreciation.

Also,  if you look at who will mostly be buying these places it can seem like a bargain.  How much would they be in Hong Kong or other major cities with ocean views and walk to everything including the beach in 5 minutes?

I believe they will be a very very good investment.

      Certainly the location is good.  But, we are talking a price point of around 4.5MB for a 26sqm studio in foreign name.  If the same price per sqm is used for the 2 bedrooms,  the 60sqm 2 bedrooms will be almost 11MB.  Before I would spend that kind of money I would look around to see what else is available at those prices.  For example, I might be able to get a studio nearly twice as big at VT6, right on the beach and, arguably, an even better location.   Or a larger 1 bedroom at Centric Sea.  For the 2 bedroom, I might be able to get a much larger unit at Northshore for around the same price--there's a 112sqm unit listed on Hipflat for 9.5MB.  Should also be able to find larger 2 bedrooms at Centric.  A high floor 108qm 2 bedroom at VT6 has been listed on Craigslist for under 10MB.   Next door to Edge, larger 1 and 2 bedroom condos are available at The Base for less money.  Also Unixx down the road.  If one doesn't need to be in central Pattaya, there are choices in Jomtien, such as Cetus, Aries, VT7, Park Beach, and Reflection, that put you right on the beach in bigger units for the same money or less.  Ditto at Wongamat with Zire, The Palm, Baan Plai Haad., and others.  

     Northshore and Centric Sea are both very nice, well-maintained projects in good locations in Central Pattaya.  Hipflat has Centric at around 113,000 baht a sqm, Northshore at around 117,000.  The Base is also nice and around 113,000 baht.  The Palm, 141,000.  Zire, 127,000.  Even pricey Northpoint, at 151,000, doesn't come close to 180,000 baht a sqm.  Hard to see how that number works long-term.

[torrzent]

There seem to be alot of real estate shills and agents on this thread.  Unless I see audited financial statements, I am not buying any of these high falutin claims of success by these "big time" wheelers and dealers.

[digbeth]

21 hours ago, bkk6060 said:

If it was refurbished VT is very nice.

But, isn't that lot south still on board for a major project?

That lot  is supposed to be Kasemkij Hotel which is a Thai chain hotels/serviced apartment popular with Japanese corporate type, plenty in SriRacha, Rayong and near most industrial estates and these group do have some high end hotels in Phuket too, but it looks like they're not in a hurry to build on that lot yet

[galt67]

4 hours ago, digbeth said:

That lot  is supposed to be Kasemkij Hotel which is a Thai chain hotels/serviced apartment popular with Japanese corporate type, plenty in SriRacha, Rayong and near most industrial estates and these group do have some high end hotels in Phuket too, but it looks like they're not in a hurry to build on that lot yet

Incorrect. It's 'Kantary Hotel' and original plans were TWO buildings to be built on the lot.

http://newpattaya.com/pattaya/kantary-pattaya/

 

Regarding VT6 pricing, 48sqm with a view and 'farang' name is around 5.5M (nicely furnished).

 

Paying 4.6M (farang name, 26sqm) for this 'new' development seems to have a VERY poor ROI.

 

Example: If NETTING 15k/month ROR is 3.9%. To me, that is a POOR real estate investment with little expectation of cap gains.

[bkk6060]

1 minute ago, galt67 said:

Incorrect. It's 'Kantary Hotel' and original plans were TWO buildings to be built on the lot.

http://newpattaya.com/pattaya/kantary-pattaya/

 

Regarding VT6 pricing, 48sqm with a view and 'farang' name is around 5.5M (nicely furnished).

 

Paying 4.6M (farang name, 26sqm) for this 'new' development seems to have a VERY poor ROI.

 

Example: If NETTING 15k/month ROR is 3.9%. To me, that is a POOR real estate investment with little expectation of cap gains.

My info. is one will be a Condo, the other a serviced apartment.

Using sq mtr pricing here is real estate jargon and fools gold.

Many Asians especially Chinese have issues with buying in a lived in/older property.

I guess lets come back in a year or so and see.  I bet these Sansiri properties will show appreciation greater then VT.

My info. is the project will be top notch and highly upgraded.

Should be interesting.

 

[digbeth]

22 minutes ago, galt67 said:

Incorrect. It's 'Kantary Hotel' and original plans were TWO buildings to be built on the lot.

http://newpattaya.com/pattaya/kantary-pattaya/

 

Regarding VT6 pricing, 48sqm with a view and 'farang' name is around 5.5M (nicely furnished).

 

Paying 4.6M (farang name, 26sqm) for this 'new' development seems to have a VERY poor ROI.

 

Example: If NETTING 15k/month ROR is 3.9%. To me, that is a POOR real estate investment with little expectation of cap gains.

If you clicked my previous link it shows that Kasemkij company owns the brand of both 'Cape' and 'Kantary' hotels, I think one is more tourist-oriented and other more medium term rental to working expats, I don't think they'll sell the units to the public as they only operate as a hotel so it shouldn't affect the buying market that much, but will definitely affect rental in the area.

 

But their brand is only big with Japanese working expats, I see a lot of Japanese wives in Central, currently they're all over Pattaya in smaller serviced apartments in pockets, I don't see the market moving more Japanese in Pattaya, maybe that's why the project is on hold?

[newnative]

41 minutes ago, galt67 said:

Incorrect. It's 'Kantary Hotel' and original plans were TWO buildings to be built on the lot.

http://newpattaya.com/pattaya/kantary-pattaya/

 

Regarding VT6 pricing, 48sqm with a view and 'farang' name is around 5.5M (nicely furnished).

 

Paying 4.6M (farang name, 26sqm) for this 'new' development seems to have a VERY poor ROI.

 

Example: If NETTING 15k/month ROR is 3.9%. To me, that is a POOR real estate investment with little expectation of cap gains.

     I think most of the studios will be bought to rent daily, like hotel rooms--which they remind me of as there doesn't seem to be any eating space figured into the room layout on the studios.  And, rooms with no balconies are more common in hotels than condo projects.

[DrTuner]

I don't see the fuzz about the beach. What's left of it, 2m of sand on 45 degree angle littered with plastic? Unless it's about the view, in that case head to the high hills on darkside.

 

If it's about living 150m from a shopping mall then I get it. The average bangkokian would feel like in the moon any further away.