Condo Rents Dropping?

[tropo]

3 hours ago, TunnelRat69 said:

You can't throw a rock anywhere in Pattaya without hitting a Bar, Massage parlor, 7/11 - you want quiet, move to Jom Tien.  I lived in Pattaya for 2 years, city never sleeps.

You'd be very surprised to learn that you can live 1km or closer (as the crow flies) to Walking Street and be in a very quiet area. Currently, I'm 0.75km from Walking Street and I wake up to birds chirping and no traffic noise whatsoever. 

 

Where you might ask. Most of the Pratumnak Hill area is very quiet. then there's the (hidden) area called Bonkai, sandwiched in between Thappraya Road and Soi 17, 3rd Road that is VERY quiet. It's virtually a secret place with many rentals... best found by riding around these streets. It's quite a big area. Then you might want to have a look around Cosy Beach, which is ever closer, and also very quiet. It sure beats a 20km round trip to Na Jomtien and even the closer Jomtien area.

 

Sure, you'll find tiny little quaint bars all over the place and even on back streets, but they unobtrusive and hardly going to cause anyone grief. If bars are that much of a problem, then find some other town. No one that's allergic to bars and working girls should consider living in Pattaya, because even if you don't meet working girls in bars, you'll be bumping into them all over town, even on the dark side and in Jomtien.

Edited January 6, 2018 by tropo

[Polaky]

10 hours ago, Peterw42 said:

15,000 pm over 5 years works out at 900,000. You can buy a Condo for not much more, especially round at Jomtien.

What about ongoing costs?, Body Corp etc,

[dpdp]

12 hours ago, Pattaya46 said:

Don't know why so many people suggest places in Jomtien or - worse - Na Jomtien. For your 15'000 baht budget you can easily find a decent condo (50 m2?) in Pattaya itself, and Pattaya as far more to offer than just bars and agogos: Hundreds of massage places, restaurants and BBQ, many big malls and supermarkets, bowlings, movies theatres, gyms, sport clubs,... and most with easy access with bahtbus.

 

 

Because people do not want to live full time in a dump and prefer to take a 10 baht 10 mns pickup to visit the dump when they want ?

Jomtien if of course the best choice but Na-jomtien is too far, if people really understand where it it (reflexion tower is not Na jomtien).

 

 

 

[Peterw42]

2 hours ago, Polaky said:

What about ongoing costs?, Body Corp etc,

Yes, that would add to the expense of buying etc, usually not that much though, I just paid mine for a condo in Jomtien 14,000 for 1 year.

Then again , over a period of 5 years rent can also go up, maybe the expense of moving a couple of times etc.

Edited January 7, 2018 by Peterw42

[Rimmer]

An off topic post asking about rents in Phuket has been removed

[newnative]

4 hours ago, Polaky said:

What about ongoing costs?, Body Corp etc,

    One of the best things about owning in Thailand is the ongoing costs on a condo are very cheap.  No property taxes and the monthly maintenance charge on most places is very low, especially compared to, say, the US.  A 1 bedroom condo I used to own at Lumpini Park Beach, a nice beachfront complex in south Jomtien with 2 big pools and a gym, cost me about 20 bucks a month in US dollars for the common maintenance fee.  Electric and water ran about $40 a month so you've got a roof over your head for around $60 a month.   

[Jonnapat]

19 hours ago, netwkn said:

I have one for rent in a great location 15000 mo. Has nice gym and pool. Close to everything and good transportation 1 bd rm


Sent from my iPhone using Thaivisa Connect

Please let me know location, thanks

[elgenon]

21 hours ago, ukrules said:

 

I note that the government made it illegal for people to be carried in the back of a pickup truck.

 

Converted or not these are still pickup trucks....

 

Of course they don't enforce it or even think too much about it before writing these laws.

 

I wonder if insurance policies would cover people if there's an accident while using an illegal method of transport ?

Some also have signs in them that says to enter and exit only at bus stops! 5555555

Why no seat belts? 555555

[elgenon]

On 1/5/2018 at 8:12 PM, AlexCanada said:

My real estate agent has confirmed condo rental prices in Pattaya have been dropping.  Places that were 25,000 a year or two ago are now 20,000.  Works for me!

If you have an agent you like would you please PM me with his info? Thanks.

[MyFriend You]

9 hours ago, Polaky said:

What about ongoing costs?, Body Corp etc,

Ours is 15K per year, gives us exclusive access to the Gym which is professionally maintained, key card access only and the six swimming pools which are cleaned daily.  but as a renter, your landlord/owner should be paying this.  Water is about 200baht a month and Electricity is 400-1200 expensing on aircon usage, enter pays that.

[KneeDeep]

This is an example of living in central Pattaya, but to still be surrounded by greenery, with no bars nor excessive noise. Yet it's

Perhaps a few will recognise the location. It's a few minutes walk from Walking Street as the crow flies.

 

 

[Polaky]

3 hours ago, TunnelRat69 said:

Ours is 15K per year, gives us exclusive access to the Gym which is professionally maintained, key card access only and the six swimming pools which are cleaned daily.  but as a renter, your landlord/owner should be paying this.  Water is about 200baht a month and Electricity is 400-1200 expensing on aircon usage, enter pays that.

Well that blows my unit on the gold coast/Australia out of the water, body corp $135.00 aud per week, water $375 every four months and Rates $1600.00 per year, think I might move.

[tropo]

2 hours ago, Polaky said:

Well that blows my unit on the gold coast/Australia out of the water, body corp $135.00 aud per week, water $375 every four months and Rates $1600.00 per year, think I might move.

Times have changed. I used to rent a beachfront apartment in Surfers for $275 a week...I left in 2003. That used to feel like high rent LOL.

 

The body corp fee for the Pattaya condo where I live is 140,000 per year including insurance, so that's nearly what you pay on the Gold Coast. It will all depend on where you choose to live and how big the place is. How big is your Gold Coast apartment?

Edited January 7, 2018 by tropo

[altcar bob]

On 1/5/2018 at 8:12 PM, AlexCanada said:

My real estate agent has confirmed condo rental prices in Pattaya have been dropping.  Places that were 25,000 a year or two ago are now 20,000.  Works for me!

Will keep dropping too,for non-inspiration look at house prices /rents etc,halved at least over 3 years,that's of course if an owner really wants to sell/rent,otherwise forget it.  No signing up for 3 year lease either,or you will be trapped in higher rental than place is worth

[tropo]

17 minutes ago, altcar bob said:

Will keep dropping too,for non-inspiration look at house prices /rents etc,halved at least over 3 years,that's of course if an owner really wants to sell/rent,otherwise forget it.  No signing up for 3 year lease either,or you will be trapped in higher rental than place is worth

So everyone keeps telling us, however, I had to find a place last April and did an extensive search and couldn't find anything suitable that I would consider cheap, although I wanted a place that was big, well furnished and in a convenient location. If you are very particular about what you want, it's not as easy as you would think, even in the current market conditions. If you don't mind living in a small box up in the sky, sure, it's not hard to find something cheaper.  

[altcar bob]

10 minutes ago, tropo said:

So everyone keeps telling us, however, I had to find a place last April and did an extensive search and couldn't find anything suitable that I would consider cheap, although I wanted a place that was big, well furnished and in a convenient location. If you are very particular about what you want, it's not as easy as you would think, even in the current market conditions. If you don't mind living in a small box up in the sky, sure, it's not hard to find something cheaper.  

The OP just wants to go to a few web sites ,look at accommodation for rent,especially now the holiday season finishing,not that it really started,or try one of the head guys at Allan Bolton,catch with his real estate hat off,they are OK too,but they have vested interest as well,dead as the dodo,it will never improve,just get steadily worse

[Basil B]

On 06/01/2018 at 11:49 AM, Peterw42 said:

There is often not much rhyme or reason to rental prices, with big variations even within the same block. My block in Jomtien has anything from 8.000pm through to 20,000pm and at the moment high season premium/rise.

Pick your location and block then start looking. 15k should get a nice studio or separate 1 Br , pool and gym in complex etc. you can get the price down significantly signing a 1-2 year lease.

 

15,000 pm over 5 years works out at 900,000. You can buy a Condo for not much more, especially round at Jomtien.

 

For Rentals, If you are interested, I can put you in touch with a friend of my wifes who does rentals in blocks near us in Jomtien, Park Lane, Paradise Park , Amazon etc. Pm if interested.

Assuming he buys second hand at a well established Condominium with good management he will be able to sell it for near what he paid for it, if not more, does depend on market trends and what he invests in it.

I had a condo in Jomtien Beach Condominium a few years back:

• Well managed
• 2 gyms
• 2 pools
• Ample carparking
• 24hr security
• Club house
• some shops, cafes, laundries, internet cafes on the ground floor.

There are service charges to pay (I think it was 3,500B + an 1,700B per year), electricity and water but as far as I know those were at market rates, wise to have insurance but there again not too costly, cable TV was free and you could get internet installed using the existing phone wiring.

 

Generally quit week days, weekends can be more busier and Holidays like New Year and Songkran it can be busy, but most of the time it is so empty you park outside without having to use the multistory carpark. even at it's busiest I never experienced a noise problem.

 

As pointed out it only 10B into Pattaya if you want, though about a mile down from the Pattaya end of Jomtien beach, certainly worth a look at (buying or renting), has 5 blocks 2 blocks S1 & S2 beach side of second road with access to Beach Road and the beach,  3 Blocks A1, A2 & A3 the other side of Second Road,  The "S" blocks closer to the beach and have a better view than the "A" blocks A lot of "A" block condos are facing other condos but have a better gym and pool, and the club house on their side, but facilities are shared. 

 

Even "S" blocks Condos should be well within in your budget and there are plenty more condominiums  in Jomtien worth having a look at too... 

Edited January 7, 2018 by Basil B

[Rori ban khun fang]

Closer to Bangkok and worth a visit to compare Try for quet area and still everything around the corner But about halfway to Bangkok.

Ban Sean. South side condos (1 bedroom) over there for rent 8000 bath up depending sice and number of bedrooms.

 

[dpdp]

43 minutes ago, Basil B said:

Assuming he buys second hand at a well established Condominium with good management he will be able to sell it for near what he paid for it, if not more, does depend on market trends and what he invests in it.

I had a condo in Jomtien Beach Condominium a few years back:

• Well managed
• 2 gyms
• 2 pools
• Ample carparking
• 24hr security
• Club house
• some shops, cafes, laundries, internet cafes on the ground floor.

There are service charges to pay (I think it was 3,500B + an 1,700B per year), electricity and water but as far as I know those were at market rates, wise to have insurance but there again not too costly, cable TV was free and you could get internet installed using the existing phone wiring.

 

Generally quit week days, weekends can be more busier and Holidays like New Year and Songkran it can be busy, but most of the time it is so empty you park outside without having to use the multistory carpark. even at it's busiest I never experienced a noise problem.

 

As pointed out it only 10B into Pattaya if you want, though about a mile down from the Pattaya end of Jomtien beach, certainly worth a look at (buying or renting), has 5 blocks 2 blocks S1 & S2 beach side of second road with access to Beach Road and the beach,  3 Blocks A1, A2 & A3 the other side of Second Road,  The "S" blocks closer to the beach and have a better view than the "A" blocks A lot of "A" block condos are facing other condos but have a better gym and pool, and the club house on their side, but facilities are shared. 

 

Even "S" blocks Condos should be well within in your budget and there are plenty more condominiums  in Jomtien worth having a look at too... 

 

Do you know for how much they sell now ? Thanks.

 

 

[theguyfromanotherforum]

12 hours ago, newnative said:

    One of the best things about owning in Thailand is the ongoing costs on a condo are very cheap.  No property taxes and the monthly maintenance charge on most places is very low, especially compared to, say, the US.  A 1 bedroom condo I used to own at Lumpini Park Beach, a nice beachfront complex in south Jomtien with 2 big pools and a gym, cost me about 20 bucks a month in US dollars for the common maintenance fee.  Electric and water ran about $40 a month so you've got a roof over your head for around $60 a month.   

 

And in 10 years you may have no roof due to cheap and poor maintenance.

[Basil B]

12 minutes ago, dpdp said:

 

Do you know for how much they sell now ? Thanks.

 

 

Not sure but see what the real estate agents are asking, or even better go down there ask around the cafes and shops based on site could even ask at "Juristic Persons" office.  

[newnative]

4 minutes ago, theguyfromanotherforum said:

 

And in 10 years you may have no roof due to cheap and poor maintenance.

Nonsense.  You and the poster who is convinced all the condos built of concrete are going to tumble to the ground the minute they turn 40 years old should do lunch. 

[theguyfromanotherforum]

23 minutes ago, newnative said:

Nonsense.  You and the poster who is convinced all the condos built of concrete are going to tumble to the ground the minute they turn 40 years old should do lunch. 

 

The guy compared cost of maintenance between Thailand and USA. I'm just saying you get what you pay for.

[tropo]

38 minutes ago, newnative said:

Nonsense.  You and the poster who is convinced all the condos built of concrete are going to tumble to the ground the minute they turn 40 years old should do lunch. 

They might not tumble to the ground, but what will you own in 40 years? What is the expected lifespan of your building? With Thai ownership of at least 50%, it might be very dilapidated and a very unpleasant place to be. Concrete cancer (rusting of the iron rebar resulting in concrete blowout) is a very real problem close to the ocean too. Will the building management stay on top of it?

 

Just for reference, high rise buildings on the Gold Coast in Australia that were built in the 70's are starting to be demolished due to the ravages of concrete cancer and the huge costs to repair it. At least if it is detected in Australia they are required to fix it fast and they have experts to do it, and there are building inspectors doing the rounds. I've seen much concrete cancer in buildings here that is just left alone. I see it in the railings around my building too. That's a 20-year-old building.

 

One building on the Gold Coast that was next door to where I lived is facing a repair bill of $2.7 million. These buildings have a lifespan of about 40 years. Most of the damage cannot be seen until they start working on it. One highrise had to be demolished in 2015 as the damage was too extensive and it was condemned.

 

"Mr Kidson said Focus Apartments unit owners intended to fully repair the building.

"If we ignore the advice of our engineer, and Focus were to be allowed to deteriorate to the extent that Iluka was, and become structurally unsound and condemned, the value of the home or investment evaporates," he said."

 

https://www.brisbanetimes.com.au/national/queensland/time-up-for-gold-coast-high-rise-as-concrete-cancer-warnings-loom-20150615-ghop5g.html

 

Brisbane City Hall had to be vacated for 2 years to repair, and that's nowhere near the ocean.

 

Yes, your investments could evaporate. It is possible. 

 

 

Edited January 7, 2018 by tropo

[Basil B]

3 hours ago, theguyfromanotherforum said:

 

The guy compared cost of maintenance between Thailand and USA. I'm just saying you get what you pay for.

While there is an issue that there has to be 75% vote by co-owners at a AGM or EGM to raise the maintenance charges when in reality most large Condominiums struggle to get the required quorum attending, they have found ways round this.

 

A lot depends on the quality of the managing committee and juristic person, which is down to co-owners electing the right persons on to the management committee.

[dpdp]

4 hours ago, theguyfromanotherforum said:

 

And in 10 years you may have no roof due to cheap and poor maintenance.

 

Ridiculous.

Older building as View talay have the best maintenance that I have seen anywhere in the world.

 

 

[newnative]

8 hours ago, theguyfromanotherforum said:

 

The guy compared cost of maintenance between Thailand and USA. I'm just saying you get what you pay for.

    What you said was that in 10 years time, because of supposedly poor maintenance here, you "may have no roof".  I invite you to check out Metro, View Talay 1 and 2,  Northshore, Markland, Peak, Sarachon, Garden Cliff 1 and 2, Sky Beach, Park Beach, Grand Condotel, and the many others that are over 10 years old.  

      Common maintenance fees here are less than in the US mainly due to the much lower costs for labor and, in some cases, also economies of scale.  The condo I mentioned, Lumpini Park Beach, has 1800 units and can maintain things pretty well with a fairy low fee.   1800 owners paying the pool cleaner rather than, say, 50 owners at a smaller project, for example.  Obviously, not all condos are maintained well--true everywhere in the World--so one checks things out carefully before purchasing a condo in an older building and with a new condo looks at the track record of the developer, the management company, the condo maintenance fee structure, sinking fund, etc.

[newnative]

9 hours ago, tropo said:

They might not tumble to the ground, but what will you own in 40 years? What is the expected lifespan of your building? With Thai ownership of at least 50%, it might be very dilapidated and a very unpleasant place to be. Concrete cancer (rusting of the iron rebar resulting in concrete blowout) is a very real problem close to the ocean too. Will the building management stay on top of it?

 

Just for reference, high rise buildings on the Gold Coast in Australia that were built in the 70's are starting to be demolished due to the ravages of concrete cancer and the huge costs to repair it. At least if it is detected in Australia they are required to fix it fast and they have experts to do it, and there are building inspectors doing the rounds. I've seen much concrete cancer in buildings here that is just left alone. I see it in the railings around my building too. That's a 20-year-old building.

 

One building on the Gold Coast that was next door to where I lived is facing a repair bill of $2.7 million. These buildings have a lifespan of about 40 years. Most of the damage cannot be seen until they start working on it. One highrise had to be demolished in 2015 as the damage was too extensive and it was condemned.

 

"Mr Kidson said Focus Apartments unit owners intended to fully repair the building.

"If we ignore the advice of our engineer, and Focus were to be allowed to deteriorate to the extent that Iluka was, and become structurally unsound and condemned, the value of the home or investment evaporates," he said."

 

https://www.brisbanetimes.com.au/national/queensland/time-up-for-gold-coast-high-rise-as-concrete-cancer-warnings-loom-20150615-ghop5g.html

 

Brisbane City Hall had to be vacated for 2 years to repair, and that's nowhere near the ocean.

 

Yes, your investments could evaporate. It is possible. 

 

 

  Sounds like it's something that can be monitored, like you would with everything else with a condo building.  Should repairs ever be needed, I'd much rather be paying Thai labor rates than those of Australia or the US.

[altcar bob]

Whatever you eventually decide to rent,be sure the owner will be asking you to buy it,especially as lease nears end. There will be a terrific glut of rental places ,more  reasons than enough,proposed property tax next year or so,small beer at first,but the sniff of more lucrative tax in govts nostrils will send it northwards, panicking owners getting shut ,Thailand PLC is not in good shape either,host of reasons not to drop anchor here.

              If cheap rent attracts,be sure Ivan will not be far behind ,hell on earth

[Polaky]

16 hours ago, tropo said:

Times have changed. I used to rent a beachfront apartment in Surfers for $275 a week...I left in 2003. That used to feel like high rent LOL.

 

The body corp fee for the Pattaya condo where I live is 140,000 per year including insurance, so that's nearly what you pay on the Gold Coast. It will all depend on where you choose to live and how big the place is. How big is your Gold Coast apartment?

68m2, rents in this building haven't gone up much since 2003', around $350.00 per week, 140,000 = $5,542.95 aud at todays exchange rate, the guy's above have indicated 15,000, why the large discrepency?.

Edited January 8, 2018 by Polaky