Hello all, newbie here. I am looking to buy a condo in Pattaya, preferrably near city centre. Please can someone advise the state of real estate market of condos in Pattaya. I am not a big fan of tall rises with condos, whose internal size is that of 4x4 truck. 

Another problem is that my Thai girlfriend insists she wants to have 50% ownership of the condo so that she has something of a security. I have been pushing this back because noone knows the future. I just wanted to understand any pitfalls of making a local thai person joint owner of a condo (if things were to go sour).

its the buyers market more than ever, but take care of yourself

and dont have her own anything of it,

i presume you already pay her on a monthly basis

and if that isnt good enough she can try and find another punter

 

A silly post?
Buy your own condo and your girlfriend can stay with you as long as YOU like paying for her meals and entertainment. Then dump her and find another. Nobody in their right mind would buy a condo half with a Thai woman unless she paid for it. I’m calling troll.

Hi, my main question was related to the state of housing market esp condos in Pattaya and less so about the character validation of my girlfriend. But thanks for your insight. 

The state of the housing market and the character of the girlfriend may well be both part of the equasion.

Take her to a Notary Public. Set up in writing that if she (the "girlfriend") is still at your side 10 years from now she will get 50% of the condo. Should give her the desired "security".
Chances are, she will leave you tomorrow, looking for "security" elsewhere.

larger well maintained condos in a good location holding their value. Shoe boxes are two a penny and almost worthless. 

4 minutes ago, baansgr said:

larger well maintained condos in a good location holding their value. Shoe boxes are two a penny and almost worthless. 

Thank you boss!! Like thr straight up advise. 

6 hours ago, stiggy23 said:

my main question was related to the state of housing market esp condos in Pattaya and less so about the character validation of my girlfriend.

That's easy: both are awful.

5 hours ago, baansgr said:

larger well maintained condos in a good location holding their value.

I think I would qualify that as "barely" holding their value.

Dude, this girl is making sure she gets paid in a big way. And don't put it past her or another Thai person to change the name on the land title document (Chanote) to be solely hers. This is Thailand my friend. NOTHING is as it appears. There is no sincerity, there is little justice, and there is always a big cost for the farang. I like the suggestion that you have a lawyer draw up a document giving her half in 8-10 years, if you are both still together. But something tells me that you'll end up apart from her soon enough so that will never happen. I've been here 16 years and seen and heard a lot. And don't rely to me saying something like, "Yeah, BUT MY GIRL IS DIFFERENT". They are not! You've been warned! And forewarned is forearmed!

Maybe you could tell her that it will be / could be a step by step arrangement:

 

- You buy, your name only on the chanut.

- Tell her that you respect your family at home and if you die they must receive some benefit.

- Tell her that at a later time you will decide what % of ownership goes to your family at home

   and what % might go to her.

- Tell her the above is not negotiable and refuse to discuss it further. If she votes with her feet

   there's a lesson for you.

 

She sounds like a peach! A real keeper! Did you last girlfriend in Liverpool want half your house or condo? 

I would buy it solely in your name. My Thai partner bought a condo. wanted to put my name jointly and was told it cannot be purchased in Thai/Farang name. Best to ask the land office. That might solve your problem.

15 hours ago, stiggy23 said:

Please can someone advise the state of real estate market of condos in Pattaya

it is a over built total buyers market.

 

15 hours ago, stiggy23 said:

I am not a big fan of tall rises with condos, whose internal size is that of 4x4 truck. 

so follow your gut and don't buy a condo. rent a condo or a house.

 

15 hours ago, stiggy23 said:

Another problem is that my Thai girlfriend

yes you are right.

 

15 hours ago, stiggy23 said:

insists she wants to have 50% ownership of the condo so that she has something of a security.

you girlfriend sounds really smart. are you?

 

15 hours ago, stiggy23 said:

I just wanted to understand any pitfalls of making a local thai person joint owner of a condo

being someone else's slave has too many downsides to list here.

Another thing you have to worry about is the foreign quota when you go to sell it, if it's 100% in your name then you can sell it to anyone (foreigner/Thai), but if your girlfriends name is on it, owns 50% of the condo, and the foreign quota has already reached 49% for the whole building, then your only option is selling sell it to a Thai.

You can always tell your girlfriend that.

"...my Thai girlfriend insists she wants to have 50% ownership of the condo so that she has something of a security."

Stop. Think. Would you do this in home country? I don't know how to put this gently.... are you insane? Once she had that half, what happens when "things don't work out"? You can't sell it without her okay on the deal. She'd have you over a barrel of your own making.

Do not do this!!!!!!!!!!!

However if you want to buy anything just take a lawyer as you can fall in many traps!!!

And YES it's Thailand. Even my Thai partner isn't doing anything without proof of our lawyer (friend) as also lawyers can be a rip off.

 

Ok let me give an advice of girlfriend: would you give a girlfriend you know short time half of a condo????? Never ever. Why yooyou want to do in an unlawful country with mostly dishonest people

 

its thailand dude , why buy when you can rent , goes for the GF too.

 

14 hours ago, stiggy23 said:

Hi, my main question was related to the state of housing market esp condos in Pattaya and less so about the character validation of my girlfriend. But thanks for your insight. 

from what I have seen in Chiang Mai - - it is definitely a buyers market - - and yet, the only advantage for the buyer is a dizzying amount of choice, not reasonable price reductions that would reflect market factors... 

13 hours ago, baansgr said:

larger well maintained condos in a good location holding their value. Shoe boxes are two a penny and almost worthless. 

correct,but even an excellent area and building, still no cap gains...never a 'good  investment'..

surely, 'warning bellls 'are ringing if your girlfriend is insisting on having 50% ownership....

tell her to buy her own condo---

1 hour ago, scorecard said:

Maybe you could tell her that it will be / could be a step by step arrangement:

 

- You buy, your name only on the chanut.

- Tell her that you respect your family at home and if you die they must receive some benefit.

- Tell her that at a later time you will decide what % of ownership goes to your family at home

   and what % might go to her.

- Tell her the above is not negotiable and refuse to discuss it further. If she votes with her feet

   there's a lesson for you.

 

Follow his advice.  Tell her in 3-5 years, you will add her name.  ONLY if it is a cheap condo, under 800K and  ONLY  if you are not already giving-paying her 10K or more monthly.  Would you do this for a g/f  back in your home country ?   I doubt it.  If you lose her,  you have lost nothing.  Easily replaceable. I talk from 10 years of full time living in Thailand.

10 minutes ago, murraynz said:

correct,but even an excellent area and building, still no cap gains...never a 'good  investment'..

surely, 'warning bellls 'are ringing if your girlfriend is insisting on having 50% ownership....

tell her to buy her own condo---

No capitol gain to talk of but far better than paying rent, Of course OP should do in his name only. Property should be viewed as a home, not an investment. Basic human right is a roof over ones head.

How long have you known your GF? Anything less than 7-8 years, I would tell her it's not going to happen.

Pattaya is not a place where I would buy a condo. Chiang Mai and Chiang Rai are better value.

Another problem is that my Thai girlfriend insists she wants to have 50% ownership of the condo so that she has something of a security. 

 

i understand her thoughts and agree with the poor girl, just ask her when you both go to the land office for the condo to go in both your names to bring 50% of the purchase price of the condo in cash as it will be a lot easier.

19 minutes ago, Lacessit said:

How long have you known your GF? Anything less than 7-8 years, I would tell her it's not going to happen.

Pattaya is not a place where I would buy a condo. Chiang Mai and Chiang Rai are better value.

great beaches there also 

Regarding property or women in Thailand....rent...never buy !!!

Girl wants 50% signs of trouble ahead there fella move on trust me.

15 hours ago, stiggy23 said:

Hi, my main question was related to the state of housing market esp condos in Pattaya and less so about the character validation of my girlfriend. But thanks for your insight. 

We do realize the question is about the market but the main thing that everyone is seeing is that snippet of your girlfriend wanting 50%, some very good insight in the reply's regarding your girlfriend take that advice.

If she pays for 50% of the cost give her 50% ownership of the condo. 

 

If not, don’t. 

Why buy in Pattaya, with the number of buildings available a deal could be got to lease one for a few years at dirt cheap price. Your girl is unlikely to be from Pattaya and it would be a great face save for her to be in property. knowing that you would not be around most of the time. and then that fateful time you return early as a surprise and guess who would be more surprised?