The Edge Condo Soi Diana/Second road sold out!

[bkk6060]

I know there was another thread but could not find it.

I tried to make my point about this place being a good investment.

Have not even broken much ground and it is already completely sold out.  The Chinese went crazy buying them up.

Now sorry, for all the " but but it is too much per sq. meter" crowd.

You can buy a unit on a resale.  Many 200,000 b to 225,000 b per sq. mtr.!

So, there you go.  Big money already made on these places.

Remember, whether you hate it or not: Location, location. location.

 

PS:  They are planning another project soon near Terminal 21.  

[Destiny1990]

I bet u 1000 bht that it isn’t 100% sold out..

[bkk6060]

23 minutes ago, Destiny1990 said:

I bet u 1000 bht that it isn’t 100% sold out..

You may be right just relaying what a Sansiri employee told me today.

Could be a business strategy to up the pricing.

My neighbors 30 sq mtr box at The Base just sold for 4.7 million so prices are up in that area.

 

[Henryford]

1 minute ago, bkk6060 said:

You may be right just relaying what a Sansiri employee told me today.

Could be a business strategy to up the pricing.

My neighbors 30 sq mtr box at The Base just sold for 4.7 million so prices are up in that area.

  

Just crazy, well over 100,000 GBP for a shoe box in a not very nice condo.

[newnative]

32 minutes ago, Destiny1990 said:

I bet u 1000 bht that it isn’t 100% sold out..

    You'll win that bet.  It might be 100% booked, which is not the same thing.  I'm sure lots of people have booked The Edge, hoping to resell the booking and make a profit before they have to come up with the actual money to buy the actual condo when construction is finished.  A condo is only 'sold' when the transaction goes through at the Land Office.

      The Base was fully booked but when construction was done something like 300 bookings were returned to Sansiri, which had to find other buyers for those units.  Which is why, even though it was touted that The Base 'sold out' in only a week, the sales staff were still on hand at The Base for a several months after it opened.  

     

[bkk6060]

28 minutes ago, Henryford said:

Just crazy, well over 100,000 GBP for a shoe box in a not very nice condo.

Totally yes.

But, it is Chinatown and you know how that can work more and more of them want to be there and are willing to pay.

[Pdavies99]

Ha Ha!! Imagine living in the same building as a large group of Chinese! Good luck!!

[Destiny1990]

4 hours ago, bkk6060 said:

You may be right just relaying what a Sansiri employee told me today.

Could be a business strategy to up the pricing.

My neighbors 30 sq mtr box at The Base just sold for 4.7 million so prices are up in that area.

 

I would be interested to know where the majority of the buyers that booked units came form? China?

Also i expect several investors have bought up whole floors and or multiple units with high discounts.. This is not been fully booked by end users these units still need to get find end owners.

[theguyfromanotherforum]

3 hours ago, newnative said:

    You'll win that bet.  It might be 100% booked, which is not the same thing.  I'm sure lots of people have booked The Edge, hoping to resell the booking and make a profit before they have to come up with the actual money to buy the actual condo when construction is finished.  A condo is only 'sold' when the transaction goes through at the Land Office.

      The Base was fully booked but when construction was done something like 300 bookings were returned to Sansiri, which had to find other buyers for those units.  Which is why, even though it was touted that The Base 'sold out' in only a week, the sales staff were still on hand at The Base for a several months after it opened.  

     

 

This. Many times this.

 

Also, sold out might just mean that foreign quota is sold out if as you say Chinese tourists went crazy buying this. Thers is that 51% that they need to sell to Thai "investors".

[KittenKong]

32 minutes ago, theguyfromanotherforum said:

Also, sold out might just mean that foreign quota is sold out if as you say Chinese tourists went crazy buying this. Thers is that 51% that they need to sell to Thai "investors". 

I would not be surprised to learn that the Chinese can easily be talked into buying in company name. After all, they swallowed cryptocurrency hype.

[Airalee]

6 hours ago, bkk6060 said:

You may be right just relaying what a Sansiri employee told me today.

Could be a business strategy to up the pricing.

My neighbors 30 sq mtr box at The Base just sold for 4.7 million so prices are up in that area.

 

So according to hipflat, your friends condo at the Base sold for more than the highest asking price of every other 30 sqm unit for sale.

 

yeah...sure it did.

[DrTuner]

Also know as the Chinese Ants Nest. Brrrrrrrrr.

[morrobay]

So what are they waiting for on starting  construction ?  The lot is high fenced  around nothing going on. Wouldnt be surprised if they are long gone with the cash.

[bkk6060]

58 minutes ago, morrobay said:

So what are they waiting for on starting  construction ?  The lot is high fenced  around nothing going on. Wouldnt be surprised if they are long gone with the cash.

Maybe one of the most ridiculous posts I have ever read.

You just exposed your naive and general lack of knowledge.

The builder is Sansiri, one of the largest most reputable and respected builders in the country.

My info. is they will start soon but are waiting for the rainy season to end.

Nice try....

[fforest1]

I would not buy into the Edge condos no matter how cheap.....I will bet your guys a  1,000 baht that the Edge will be the Base part 2...

I went in the Base about 1 and a half years after it was built (a friend stayed there for a week)and it already was feeling and looking worn-out and tired...They run the Chinese through the Base like Cattle...The Base to me had the feel of a bus station and not a nice one at that....
So good luck to the investors in the Base and Edge I hope you can speak Chinese..

How any western farang could live there I dont know? I would rather stay in a 500 baht room on Soi Bukow any day...

[The manic]

The Chinese buyers in the UK often dont actually live in the property. Its left empty as an investment. The Chinese putting down deposits in Pattaya might be viewed as the next wave of gullible idiots, who at the next downturn, or government currency crack down  or devaluation will be forced to sell as did many before them.

[Pattaya46]

16 hours ago, The manic said:

// the next wave of gullible idiots, who // will be forced to sell as did many before them.

Uh?   Never heard of many people forced to sell.  

[bkk6060]

23 hours ago, fforest1 said:

I would rather stay in a 500 baht room on Soi Bukow any day...

There are many Falang at The Base and they have been smart investors as the property is one of the few in the entire area that has shown appreciation over the past 2 years.

I guess Soi Buakhoa maybe be a good choice for one with low standards and very little money.

[janclaes47]

Our Sansiri spokesman is doing a great job I see

[bkk6060]

17 hours ago, The manic said:

The Chinese buyers in the UK often dont actually live in the property. Its left empty as an investment. The Chinese putting down deposits in Pattaya might be viewed as the next wave of gullible idiots, who at the next downturn, or government currency crack down  or devaluation will be forced to sell as did many before them.

I cannot agree less. And I would never buy I have a place to live and enough investments.

The current market here I cannot see getting much lower.

I saw a never lived in condo with my friend who is looking in Pratumnak last week for 990,000 b.

Very nice clean property.   Many great bargains out there now.

If nothing else, The Edge shows where the smart money is going.  They will make a hefty profit there I guarantee it.

But, one has to know quality, fine workmanship, and high end features to appreciate the place.

I guess the Chinese may have more class and investment knowledge then some think..

[Destiny1990]

23 minutes ago, bkk6060 said:

I cannot agree less. And I would never buy I have a place to live and enough investments.

The current market here I cannot see getting much lower.

I saw a never lived in condo with my friend who is looking in Pratumnak last week for 990,000 b.

Very nice clean property.   Many great bargains out there now.

If nothing else, The Edge shows where the smart money is going.  They will make a hefty profit there I guarantee it.

But, one has to know quality, fine workmanship, and high end features to appreciate the place.

I guess the Chinese may have more class and investment knowledge then some think..

How about get some actual real experience your self ? Buy up some units in pats and sell them after 5 years and then update us here.

Now your basicly a tenant advicing others to buy..

[Destiny1990]

18 hours ago, The manic said:

The Chinese buyers in the UK often dont actually live in the property. Its left empty as an investment. The Chinese putting down deposits in Pattaya might be viewed as the next wave of gullible idiots, who at the next downturn, or government currency crack down  or devaluation will be forced to sell as did many before them.

I noticed you know lots about the clubs and nightlife scene around Pattaya so Would very frequently going to WS drinking boozing partying  with the girls be a better investment then buying condos  according to u?

[bkk6060]

45 minutes ago, Destiny1990 said:

How about get some actual real experience your self ? Buy up some units in pats and sell them after 5 years and then update us here.

Now your basicly a tenant advicing others to buy..

Well, I know you are an investor here and I think it is a waste of time and kind of a desperation. 

I am just pointing out (by facts) that the Base a a very few other places have made money here over a period of time,  And I think The Edge will also.

But, I have been spoiled I did that in California for years and made some fantastic money. Where you can leverage your investment with little down and watch it go up 3 to four times its value.  I am retired and have more money then I need.

I rent because it give me much more flexibility and I think buying is stagnate waste, except for a few exceptions. 

This place is peanuts compared to some western countries I always think it is funny how excited people get making $30,000 in 5-10 years.  But many have remained even in their minds when in fact they have lost money.  Probably most that have bought over the past 5 years.

Buying here is not a true investment in my opinion. Not being able to get a loan..   Much better off in other investments that grow and create dividends. Real estate here generally is "dead money".

 

[Destiny1990]

10 minutes ago, bkk6060 said:

Well, I know you are an investor here and I think it is a waste of time and kind of a desperation. 

I am just pointing out (by facts) that the Base a a very few other places have made money here over a period of time,  And I think The Edge will also.

But, I have been spoiled I did that in California for years and made some fantastic money. Where you can leverage your investment with little down and watch it go up 3 to four times its value.  I am retired and have more money then I need.

I rent because it give me much more flexibility and I think buying is stagnate waste, except for a few exceptions. 

This place is peanuts compared to some western countries I always think it is funny how excited people get making $30,000 in 5-10 years.  But many have remained even in their minds when in fact they have lost money.  Probably most that have bought over the past 5 years.

Buying here is not a true investment in my opinion. Not being able to get a loan..   Much better off in other investments that grow and create dividends. Real estate here generally is "dead money".

 

Interesting insight thanks Sir.

Personally  for me the main reason to buy units in any Country  is based on rental return expectations also i more comfortable with money invested  in bricks then with money placed at banks but ofcourse everyone has their own preferences.

The Edge is a great location and might make decent returns  time will tell However I stopped a long time ago with buying properties off-plan.Let them built it first.