Condo Rents Dropping?

[Ron19]

A post advertising from a Chinese ISP and an answer to it have been removed

[tropo]

2 hours ago, Polaky said:

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?.

Probably the difference is the number of units in the building sharing the costs. There are only 5 in my building and each one is 240m2. 5 floors - 5 units.

Edited January 8, 2018 by tropo

[The manic]

15 k is enough even for a nice place around Pratumnak.  Or try Naklua side where you can get 50 sq metre studio for 15 k but remember lekky and water bills. Never had a problem with mosquitoes in all the years I've been here. Condo prices may be going down but not the asking price if you see the difference. The baht bus is a Songthaew meaning two seats. A covered pick up truck with two bench seats at the back and is nothing like a Tuk Tuk.  Fixed fee of 10 or 20 baht depending on the route. A pretty good service. 

[Rockjockey]

Hey everyone... I have found a place in Jomtien. Happy as a pig in the sticky stuff. To everybody that gave their 2 cents... a big thank you.

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app

[tropo]

7 hours ago, newnative said:

  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.

Yes, it could be monitored, but who's going to do that and even if it's seen, will it be repaired? Thai labor rates may be cheap, but it can work out more expensive in the long term when you discover they aren't doing a good job and it needs to be redone. I've had Thai tradesman around to fix things (electricians, plumbers, air conditioning etc) and had to call them back to refix... sometimes twice and then give up and try to find another tradesman to do the job. Sometimes I have to fix it myself after they've tried a number of times.

Edited January 8, 2018 by tropo

[Rimmer]

Some off topic and troll posts have been removed

[balo]

Hey everyone... I have found a place in Jomtien. Happy as a pig in the sticky stuff. To everybody that gave their 2 cents... a big thank you.

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app

Good to hear, how many sqm and how much did you end up paying ?

[Rockjockey]

68 m2 16000 6 months

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app

[tropo]

3 minutes ago, Rockjockey said:

68 m2 16000 6 months

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app
 

On a square meter basis, that's nearly the same as the 120,000 a year in my building.

[altcar bob]

First off in Thaivisa classified,condos for rent is one  a good one,asking 14000 a month,nice place,central to everything,finest swimming pool in Pattaya just around the corner ,Big C etc etc.

  Problem with Jomtien and The Hill is proximity to anything,not the going there,but getting back,far cheaper in Pattaya itself...14000, probably could have been gotten for 11000,maybe cheaper,even signing up for 3 year lease and breaking it would not break the bank

[Rockjockey]

My needs are not typical and Jomtien location suits me as Ive stayed there in the past. What you suggest may be true for others but not me. Thanks anyway.

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app

[altcar bob]

16 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.

 

Too trueTropo,too true. That monster Waterfront will be in a bad way by now.  The reinforcing rods enclosed in columns by concrete exposed to air ,salt air at that,start rusting and expanding,will fail eventually,concrete spalling all over the place in some buildings,patched up with paint

Edited January 8, 2018 by altcar bob

[theguyfromanotherforum]

15 hours ago, dpdp said:

 

Ridiculous.

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

 

 

 

 

Can someone confirm this outrageous statement?

[newnative]

4 hours ago, tropo said:

Yes, it could be monitored, but who's going to do that and even if it's seen, will it be repaired? Thai labor rates may be cheap, but it can work out more expensive in the long term when you discover they aren't doing a good job and it needs to be redone. I've had Thai tradesman around to fix things (electricians, plumbers, air conditioning etc) and had to call them back to refix... sometimes twice and then give up and try to find another tradesman to do the job. Sometimes I have to fix it myself after they've tried a number of times.

     Well, life's a crap shoot.   One minute Joe Montana's sitting high in the sky in his multi-million dollar San Francisco condo, on top of the world, and the next the condo building is not only sinking but tipping over, too.  Things happen and that's just life.  Could there possibly be a repair problem needed with the concrete 30 or 40 years from now?  Maybe.  Is it something I am going to lose sleep over here and now?  No.  I may be worrying about a number of things but this isn't one of them--especially since in 30 or 40 years I will probably be drooling in my corn flakes. 

[newnative]

1 hour ago, theguyfromanotherforum said:

 

 

Can someone confirm this outrageous statement?

     First, how do you know the statement is 'outrageous' if you are asking for confirmation?  You're letting your biases show by blindly branding it 'outrageous' with no knowledge that it is.  You might better have said, can anyone confirm this is true or not?   I think View Talay 2 is being maintained well, and has been since the owners gained control from the development company.  Don't know much about VT1 but for an older building it looks like it is being maintained, as well, with a recent paint job.   I would not say the others have 'the best maintenance' but I would call it 'ok', with the basic services being maintained. 

[thaitero]

VT 1 maintance is good..You also get pdf-reports with clear pictures to your email almost monthly what has been done lately :)

[tropo]

9 hours ago, altcar bob said:

Too trueTropo,too true. That monster Waterfront will be in a bad way by now.  The reinforcing rods enclosed in columns by concrete exposed to air ,salt air at that,start rusting and expanding,will fail eventually,concrete spalling all over the place in some buildings,patched up with paint

True Altcar bob, too true... that's exactly the way it will be fixed here... by scaping off the spalling concrete and then patching it and painting over it every couple of years... and other buildings they won't even bother. Who's inspecting them for safety anyway?

[tropo]

1 hour ago, thaitero said:

VT 1 maintance is good..You also get pdf-reports with clear pictures to your email almost monthly what has been done lately :)

Wow! That's fantastic. It's good to see some crews take maintenance seriously.

[tropo]

9 hours ago, altcar bob said:

First off in Thaivisa classified,condos for rent is one  a good one,asking 14000 a month,nice place,central to everything,finest swimming pool in Pattaya just around the corner ,Big C etc etc.

  Problem with Jomtien and The Hill is proximity to anything,not the going there,but getting back,far cheaper in Pattaya itself...14000, probably could have been gotten for 11000,maybe cheaper,even signing up for 3 year lease and breaking it would not break the bank

Some agents are becoming wise to the tactic of some tenants signing long leases to get much cheaper rent, who have every intention of breaking it. A real agent mentioned this to me yesterday when I was discussing the signing of a long lease.

Edited January 8, 2018 by tropo

[tropo]

6 hours ago, newnative said:

     Well, life's a crap shoot.   One minute Joe Montana's sitting high in the sky in his multi-million dollar San Francisco condo, on top of the world, and the next the condo building is not only sinking but tipping over, too.  Things happen and that's just life.  Could there possibly be a repair problem needed with the concrete 30 or 40 years from now?  Maybe.  Is it something I am going to lose sleep over here and now?  No.  I may be worrying about a number of things but this isn't one of them--especially since in 30 or 40 years I will probably be drooling in my corn flakes. 

2

OK, so you took the "crap shoot" and invested in fine Thai workmanship then? Good luck and may you sleep well.

[rickthailand]

the maintenance in view talay 2 is very good. just had 3 elevators renewed. good security,

pool area well kept.

[ThaiBob]

On 1/7/2018 at 10:49 PM, Basil B said:

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.  

Just sold an "A" block condo. 1.1 million. 

[newnative]

6 hours ago, tropo said:

OK, so you took the "crap shoot" and invested in fine Thai workmanship then? Good luck and may you sleep well.

      Life's a crap shoot but not everything you do in life is a crap shoot.  When I lived in the US I bought and sold 9 condos, all at a profit.  Some of the profits were small and some were large but I made money on all of them.  Here in Thailand, I just sold my 17th condo yesterday, at a profit.   As in the US, some of the profits were large and some were small but I have never lost money on a condo sale.  So, buying a condo has not been a crap shoot for me.  ( As an aside, some of the US condos were not built as well as the Thai condos I have owned.  I would pick any of my Thai condos to ride out a hurricane in over some of the rather flimsy wood-built condos I owned in the US.  )

      Of course, condo ownership isn't for everyone.  Some prefer and have a talent for investing in other things and don't want their money tied up in real estate.  Some prefer to rent and have the freedom to fairly easily pack up and move to another rental.  Some prefer to rent here and own elsewhere.   Some prefer not to risk their money on something that they think may lose value.  For some renting can make more sense, especially with short stays of less than a year.   It's really whatever works for you and makes you happy.   And, good luck to you, as well. 

[altcar bob]

17 hours ago, The manic said:

15 k is enough even for a nice place around Pratumnak.  Or try Naklua side where you can get 50 sq metre studio for 15 k but remember lekky and water bills. Never had a problem with mosquitoes in all the years I've been here. Condo prices may be going down but not the asking price if you see the difference. The baht bus is a Songthaew meaning two seats. A covered pick up truck with two bench seats at the back and is nothing like a Tuk Tuk.  Fixed fee of 10 or 20 baht depending on the route. A pretty good service. 

Strong tendency to 'circle the wagons' when negotiating a rental price for condos, sorta 'how dare you' when cheaper rent is offered. This will change for sure. look At house rentals,all over the damned place for rent,wrap around banners 'please buy/rent me now. Just nibble at the edges,someone will break,eventually the whole mass of them will collapse into 'please rent me ASAP'

[soistalker]

On 1/6/2018 at 1:48 PM, pegman said:

If you don't drive keep close to a baht bus route. You can get to food stores by using them. The Jomtien Beach area is my preference.

Depends on what you mean by "food stores." I, too, live in this area. There is foodland , but it is expensive, the staff are sometimes rude, and everything is 20% more expensive than Big C or Tesco Lotus. Beer is even more expensive than familymart or 7/11, which makes no sense whatsoever. 

You can take a baht bus down Theppresset Road to Tesco Lotus, but be prepared to sit in it and wait about 15~30 minutes until there are 8 to 10 other souls on board. Coming back, you'll wait a similar amount of time.

i do it regularly, but don't fancy the wait.

[Basil B]

6 hours ago, ThaiBob said:

Just sold an "A" block condo. 1.1 million. 

I would say 1 to 1.5 million, lot depends on which floor, view, decor, improvements, furnishings and how desperate to sell/buy.

obviously a condo in S1 on a high floor going to sell more than a condo in A2 on a low floor.

[whitemouse]

The Base condo just off Second Rd is good location, walking distance to everywhere in central Pattaya, and on baht bus route. 

 

I wonder what the studios rent for at Base. Probably around 10k

[Rockjockey]

According to hipflat no studios available only 1 bedrooms lowest 14k most 15k and 16k

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app

[tropo]

6 hours ago, newnative said:

      Life's a crap shoot but not everything you do in life is a crap shoot.  When I lived in the US I bought and sold 9 condos, all at a profit.  Some of the profits were small and some were large but I made money on all of them.  Here in Thailand, I just sold my 17th condo yesterday, at a profit.   As in the US, some of the profits were large and some were small but I have never lost money on a condo sale.  So, buying a condo has not been a crap shoot for me.  ( As an aside, some of the US condos were not built as well as the Thai condos I have owned.  I would pick any of my Thai condos to ride out a hurricane in over some of the rather flimsy wood-built condos I owned in the US.  )

      Of course, condo ownership isn't for everyone.  Some prefer and have a talent for investing in other things and don't want their money tied up in real estate.  Some prefer to rent and have the freedom to fairly easily pack up and move to another rental.  Some prefer to rent here and own elsewhere.   Some prefer not to risk their money on something that they think may lose value.  For some renting can make more sense, especially with short stays of less than a year.   It's really whatever works for you and makes you happy.   And, good luck to you, as well. 

Of course, you're doing it the right way. You're not staying in buildings long enough to watch them crumble, but the point of my posts was to point out a very real concern about concrete buildings built on the coast. Those posts were in reply to a person who suggested that buildings won't topple in 40 years. It won't concern a person like you who buys and sells as quickly as possible, but people who buy one place to live in for an extended period of time. They mainly buy to save on rent.

[altcar bob]

2 hours ago, Rockjockey said:

According to hipflat no studios available only 1 bedrooms lowest 14k most 15k and 16k

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app
 

With a realtor in the loop,you will be told anything,probably making 3 to 4 thousand a month .  Yes I'm renting,admittedly not a condo,20,000 a month was advised,now I knew where this (and other) houses were he was attempting to rent off,privately going for 10000

  The Base,seen recent and heard reports of the place,want a good nights sleep? take ear plugs