Condo Rents Dropping?

[newnative]

4 minutes ago, torrzent said:

There's always a few people who claim to have "never" lost money on the stock market or real estate....guess what..it's a zero sum game so just as many people lost.  But this guy here claims to be one of the great superior ones who has always one...not buying this tripe for a moment!

      I'm not claiming anything.  Just stating facts--and rather unremarkable, normal ones, in my opinion.  I post my experiences with real estate in Thailand to offer one alternative to all the negative postings on Thai Visa which I feel leave an overwhelmingly negative, unrepresentative,  impression.  I could care less whether you consider it tripe or not--I direct my experience towards readers with an open mind who might be genuinely  interested in what can be a different outcome.  For those with an interest, it might be notable that my last 3 sales were to Chinese buyers--who have money to buy in the 3MB range but also the 10MB range.

      Some posters love to describe with relish how this friend or that friend lost a fortune on their condo purchases and they are impossible to sell at any price.  Not sure why this brings such glee.  A few months ago someone posted that in his experience condos lose 50% of their value as soon as you buy them and in 5 years they are worthless.   Reading this, I replied and said I was in the market for an oceanview 2 bedroom/2 bath condo and if anybody had one that had lost 50% of its value, let me know and I would be interested in looking at it as a possible purchase.  Well....wait for it....absolutely zero replies.   Hmm. 

[pegman]

17 hours ago, soistalker said:

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.

Motorbike taxi from corner Theppressit & Thappraya is ฿40 to Outlet Mall. Unless baht bus looks ready to go I take that.  ฿60 for return to VT2. Usually about  ฿80 back from Makro.

[Rimmer]

Some off topic bickering posts have been removed, topic is about Condo Rents Dropping

[newnative]

1 hour ago, ThaiBob said:

No need to be bitter. I am not a real estate agent either and my experience and that of my friends mirror those on newnative. Choose your location wisely, all with nice or sea front views, and you will profit (if that is important to you). The Jomtien Beach condo I mentioned earlier (good location, but no view) was purchased from a Brit (750,000) who was returning to England (because Pattaya was too expensive for him). All he wanted was his original investment but realized he would profit when he repatriated his money. Some new furnishings (60,000) resulted in a quick sale (1 month) to a Thai for 1.1 m. The unit is now rented for 10k.  

     That's pretty much my formula, too.  Always, always seaview in a good location.  All my condo sales have been seaview units.  You start with that and then I try to make my unit the best in the building, with good design featuring great furniture and art, often with some custom pieces of both, which can be done in Thailand and still stay on budget.  Then, you get it listed with as many agents as you can and when they show the condo it is always neat as a pin--no dirty dishes, no messy bathroom, and, most importantly, no surprised, sleeping, half-naked farang in bed.  None of this is rocket science. 

[balo]

21 hours ago, whitemouse said:

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

 

I would think more like 20k , because of the location , lots of short term rentals there too. 

[whitemouse]

On 1/9/2018 at 3:39 PM, 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
 

 

For 15k forget Base, View Talai 6 next to Central has studios for 15k. No sea view for 15k tho

[banjoe]

Have a look at the View Talay buildings in Jomtien, near the bus station.solid buildings built in the 90's . Studio rooms start from 8k and up. Some of the units are nicely decorated and for 15k you will get the best ones on the higher floors. To avoid mosquitos always choose a top floor , then you can open the balcony door and get that nice ocean breeze in without worrying about mosquitos.

They can use the lift[emoji1]

Sent from my [device_name] using http://Thailand Forum - Thaivisa mobile app

[balo]

5 hours ago, banjoe said:

They can use the lift

Yes they are clever buggers indeed. I have a spray can ready just in case, 

 

 

[The manic]

On 1/10/2018 at 5:11 AM, pegman said:

Motorbike taxi from corner Theppressit & Thappraya is ฿40 to Outlet Mall. Unless baht bus looks ready to go I take that.  ฿60 for return to VT2. Usually about  ฿80 back from Makro.

Is there a Tesco Lotus on Threppasit?

[midas]

6 hours ago, banjoe said:

They can use the lift

Sent from my [device_name] using http://Thailand Forum - Thaivisa mobile app
 

How high can a mosquito fly?

 

Quote

They have been found in jet streams, which are air currents 33,000-52,000 ft above ground. However they are helped by the winds to get that high. Studies show that winds carry them through different islands and even continents

https://www.quora.com/How-high-can-a-mosquito-fly

[The manic]

8 hours ago, whitemouse said:

 

For 15k forget Base, View Talai 6 next to Central has studios for 15k. No sea view for 15k tho

A city view can be good. Especially at night.

[pegman]

31 minutes ago, The manic said:

Is there a Tesco Lotus on Threppasit?

Just walk through the outlet mall at Threppasit & Sukhumvit into the Tesco Lotus lot.

[Spaniel]

On 1/9/2018 at 7:20 AM, rickthailand said:

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

pool area well kept.

You are refering to VT 2B?

[The manic]

2 hours ago, pegman said:

Just walk through the outlet mall at Threppasit & Sukhumvit into the Tesco Lotus lot.

Thanks. Threppasit is a long rd to walk or on motosai taxi from Pratumnak. But I'll check it out if I'm in the area. 

[rickthailand]

1 hour ago, Spaniel said:

You are refering to VT 2B?

yes

[wpcoe]

21 hours ago, The manic said:

Thanks. Threppasit is a long rd to walk or on motosai taxi from Pratumnak. But I'll check it out if I'm in the area. 

Pratamnak is a large area, but just choosing a random point and checking their apps, a ride from Tesco Lotus South Pattaya to Pratamnak with Grab is B120 and with Uber is B95 to B115.  May sound relatively expensive when compared to baht buses, but for once a week shopping trips might be tolerable when laden with shopping bags?  Throw in the frequent promo discounts and the price is even more reasonable. (Right now Uber has a promo for B40 off of up to 10 rides. B55 to B75 from Tesco to Pratamnak seems like a good deal, no?)

 

And, yes, it could be tiresome to walk:  Thepprasit Road itself is almost 3km long.

[Kitmakmak]

I recommend airbnb.com for anyone looking to buy or rent in Pattaya or anywhere.

 

Enter the location you want to search, then change the currency to baht (bottom, right of page). In most cases, you are renting directly from the owner of the condo or house, but sometimes the condo management. The prices are usually much cheaper than traditional leases. This allows you to try an area you are interested for a few days before making a long term commitment. You can often rent in the same condo building that you are interested in renting or buying. You can find some real bargains. A lot of condos have been bought up by Chinese who are now renting the rooms cheaper than traditional leases.

 

You can rent a dingy shophouse room over  a bar for 700 baht per night or through airbnb, you can get a room or rooms in a new condo with full use of the pool, exercise room and other facilities for the same price or less per night. If you find a condo through airbnb in an area of town that you like, then you have 3 options.

 

1. get a long term lease through the condo management, if available.

2. ask the owner how much he would rent the same condo on a long term basis- I think you would get a substantial discount.

3. if you like the area, look for another condo in the area that offers a traditional lease

 

Airbnb is the Uber of the condo/hotel industry.

 

[Peterw42]

14 minutes ago, Kitmakmak said:

I recommend airbnb.com for anyone looking to buy or rent in Pattaya or anywhere.

 

Enter the location you want to search, then change the currency to baht (bottom, right of page). In most cases, you are renting directly from the owner of the condo or house, but sometimes the condo management. The prices are usually much cheaper than traditional leases. This allows you to try an area you are interested for a few days before making a long term commitment. You can often rent in the same condo building that you are interested in renting or buying. You can find some real bargains. A lot of condos have been bought up by Chinese who are now renting the rooms cheaper than traditional leases.

 

You can rent a dingy shophouse room over  a bar for 700 baht per night or through airbnb, you can get a room or rooms in a new condo with full use of the pool, exercise room and other facilities for the same price or less per night. If you find a condo through airbnb in an area of town that you like, then you have 3 options.

 

1. get a long term lease through the condo management, if available.

2. ask the owner how much he would rent the same condo on a long term basis- I think you would get a substantial discount.

3. if you like the area, look for another condo in the area that offers a traditional lease

 

Airbnb is the Uber of the condo/hotel industry.

 

You will find lots of condo blocks are pretty strict on AirBNB rentals as its illegal for a stay under 1 month. My condo block gets them shutdown, big signs in the foyer, short term rental is illegal etc.

I would also avoid renting in a block were the condo management does rentals, they tend to spend all their time, and peoples condo fees, running a little rental business (also illeagal) and not what they are paid to to, manage the condo block. 

[newnative]

2 hours ago, Kitmakmak said:

I recommend airbnb.com for anyone looking to buy or rent in Pattaya or anywhere.

 

Enter the location you want to search, then change the currency to baht (bottom, right of page). In most cases, you are renting directly from the owner of the condo or house, but sometimes the condo management. The prices are usually much cheaper than traditional leases. This allows you to try an area you are interested for a few days before making a long term commitment. You can often rent in the same condo building that you are interested in renting or buying. You can find some real bargains. A lot of condos have been bought up by Chinese who are now renting the rooms cheaper than traditional leases.

 

You can rent a dingy shophouse room over  a bar for 700 baht per night or through airbnb, you can get a room or rooms in a new condo with full use of the pool, exercise room and other facilities for the same price or less per night. If you find a condo through airbnb in an area of town that you like, then you have 3 options.

 

1. get a long term lease through the condo management, if available.

2. ask the owner how much he would rent the same condo on a long term basis- I think you would get a substantial discount.

3. if you like the area, look for another condo in the area that offers a traditional lease

 

Airbnb is the Uber of the condo/hotel industry.

 

Renting a condo for less than a month is illegal in Thailand.

[scubascuba3]

Renting a condo for less than a month is illegal in Thailand.

So is going through red lights but i see it 100s of times a day, maybe it will be enforced in 10 years time

[bkk6060]

On 09/01/2018 at 3:23 PM, whitemouse said:

The Base condo just off Second Rd is good location, walking distance to everywhere in central Pattaya, and on baht bus ro around 14,00ute. 

 

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

No studios at The Base.

Cheapest 1 BR is small around 14,000 for a low floor no view.

Edited January 14, 2018 by bkk6060

[bkk6060]

On 09/01/2018 at 11:41 AM, soistalker said:

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.

An accurate post that needs to be considered.

Jomtien is fine this time of year if you basically want to stay there.

Now in high season some days almost 40 minutes going over the hill if you take the baht bus.

Traffic at a dead stop mostly or crawling.

If you do Jomtien I would get a motorbike to get to the malls, movies, decent shopping, etc.

Saving a few thousand baht sounds great until you are stuck.

Whatever suits you......

Edited January 14, 2018 by bkk6060

[bkk6060]

18 hours ago, newnative said:

Renting a condo for less than a month is illegal in Thailand.

Totally not enforced whatsoever. 1000's of ST rents every day.

But hey, if you see a violation call the cops and let us know what they do.

[newnative]

14 hours ago, bkk6060 said:

Totally not enforced whatsoever. 1000's of ST rents every day.

But hey, if you see a violation call the cops and let us know what they do.

   Yes, I'm well-aware that it is, unfortunately, not being enforced and as a result new condos in popular locations have become de facto hotels, and unpleasant places for residents who don't want to live in a hotel environment.

[bert bloggs]

18 hours ago, bkk6060 said:

Totally not enforced whatsoever. 1000's of ST rents every day.

But hey, if you see a violation call the cops and let us know what they do.

enforced at the base ,you try to get past the gates ,

[bkk6060]

1 hour ago, bert bloggs said:

enforced at the base ,you try to get past the gates ,

???  You have no clue what is happening.  I have lived there for 18 months.

 

[pegman]

20 hours ago, bkk6060 said:

An accurate post that needs to be considered.

Jomtien is fine this time of year if you basically want to stay there.

Now in high season some days almost 40 minutes going over the hill if you take the baht bus.

Traffic at a dead stop mostly or crawling.

If you do Jomtien I would get a motorbike to get to the malls, movies, decent shopping, etc.

Saving a few thousand baht sounds great until you are stuck.

Whatever suits you......

Yes, the baht buses fill up in late afternoon onwards a few weeks of the year. Best to do shopping and whatnot early in the day during peck season. At night during that time I get a motorbike taxi to maneuver around the traffic headed into Pattaya. New Year's Eve walking in is quickest. 

Saving some  baht on rent has zero consideration for me. Quiet, less pollution and general vibe of the place is what keeps me in Jomtien.

I noticed on HipFlat that prices at Centric Sea are Studio- ฿13,000 & 1 Bedroom ฿16,000. Seems this is much less than a couple years ago.

Edited January 15, 2018 by pegman
Add on

[balo]

On 1/13/2018 at 10:53 PM, newnative said:

Renting a condo for less than a month is illegal in Thailand.

Prostitution is also illegal but it's still a big business here. Don't think it will change for the next 100 years. 

 

[scubascuba3]

Prostitution is also illegal
 

That's a myth

[Kitmakmak]

11 hours ago, newnative said:

Yes, I'm well-aware that it is, unfortunately, not being enforced and as a result new condos in popular locations have become de facto hotels, and unpleasant places for residents who don't want to live in a hotel environment.

I certainly understand that viewpoint from a permanent resident's perspective. Maybe all the more reason to check out airbnb.... look at the airbnb map for Pattaya/Jomtien and see which condos are enforcing the rule and which ones have owners actively renting out their rooms.

 

And IMO, for a prospective buyer/renter, still the best way to get the feel of an area of town or neighborhood or condo by actually staying there a few days instead of driving around or doing a walk-through.