Places to Live in Pattaya

[stiggy23]

Dear all,

I am planning to move to Pattaya in Sept 2019. I have just come back from there and have narrowed down my future stay/move away from UK (running away from Brexit!). There are 2 condos: 1 is near the Big C and the other one in Pratamnak hill. 

My questions are:

1. The state of Pattaya property prices. I feel like it is going down a bit as seeing lots of reductions on thai property sites. Normal for me to negotiate price down?

2. Can i get information about a possible new development arising in front of the condo i plan to buy? I am worried the one in Pratamnak will be subject to this risk as it has currently unhindered beautiful views of the sea.

 

Both properties are foreign owned so no problem. Might have other questions but these are the ones i am interested to know as keen to own a property in Thailand.

 

Thank you

[observer90210]

Which one is closer to the hookers and the bars  world class entertainement facilities ? I would take that one. ????

[rhodie]

Prices are certainly not going up so no rush. Standard feedback is rent for 6 to 12 months before you consider buying. Crazy to buy without living here for a while. Very few properties increase in value. Slow down.

[KittenKong]

56 minutes ago, stiggy23 said:

1. The state of Pattaya property prices. I feel like it is going down a bit as seeing lots of reductions on thai property sites. Normal for me to negotiate price down?

Yes. Most listed prices are way over the top.

 

57 minutes ago, stiggy23 said:

2. Can i get information about a possible new development arising in front of the condo i plan to buy? I am worried the one in Pratamnak will be subject to this risk as it has currently unhindered beautiful views of the sea.

No. But if there is an empty plot or a partially-developed plot in front of your building you can pretty much guarantee that someone will build something on it at some point. Probably the same developer that sold you your condo.

 

You should certainly rent for a year in the building you think you like before buying anything. Thai property is easy to buy and hard to sell.

[stiggy23]

Thanks for your responses. Looks like renting will be a good idea prior to buying and then making the call. Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down. Just dont want to pay fair price if I can help it. The condo i was looking to buy or was veering towards is priced at 64k bhat / sq meter in Pratamnak hill, it has stunning sea views i have to say and a big balcony. The one near Big C is more like an investment/rental opportunity rather than somewhere I would want to stay. 

[Inn Between]

7 minutes ago, stiggy23 said:

Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down.

 

Oh dear, don't assume that your logic will be the same as Thai logic. In my experience, it's usually about 180 degrees opposite. The basic rules of "supply and demand" don't seem to apply here, especially in the area of real estate. Thais appear to see more value in sticking with their price, although nobody is showing any interest for the amount of money being asked, even if the property sits deserted and deteriorating for years. And even farang who have been here long enough often start to think like Thais, but I'm a believer that there's always good real estate deals to be had with enough patience and perseverance. Good luck with your relocation and housing. 

[madmen]

14 minutes ago, stiggy23 said:

Thanks for your responses. Looks like renting will be a good idea prior to buying and then making the call. Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down. Just dont want to pay fair price if I can help it. The condo i was looking to buy or was veering towards is priced at 64k bhat / sq meter in Pratamnak hill, it has stunning sea views i have to say and a big balcony. The one near Big C is more like an investment/rental opportunity rather than somewhere I would want to stay. 

"this would suggest lots of room for negotiating price down"  ahaha you must be new.  Thais dont negotiate unless a trivial amount. Make sure your on the baht bus route..thats the most important part of the deal IMO unless you want to be fleeced by both cabbies and motorcycle scum 

[mike787]

RENT first!  No rush to buy.  During the waiting period, see how your immigration experience goes.  If you're thrilled still, you can always do whatever your heart desires.

Or just ignore everyone and jump in now...you're the master of your destiny. 

Good luck!

[madmen]

Since Thai Visa websites inception the wizards have been saying that real estate is going down which is total nonsense you only need to glance at Bangkok to see prices are more expensive than the west. Pattaya is a lot cheaper of course but just make sure you buy in the area you want and not just hunt down the cheapest price.

 

or just rent, us landlords love you ????

[DaRoadrunner]

Many who bought condos found they could not re-sell even for less than they paid. You can also get stuck with noisy Thai neighbours. Pattaya is also not to everyone's taste.

 

 

[madmen]

17 minutes ago, DaRoadrunner said:

Many who bought condos found they could not re-sell even for less than they paid. You can also get stuck with noisy Thai neighbours. Pattaya is also not to everyone's taste.

 

 

Same the world over.  Its location location location. Any dumbie cant drop a bundle in real estate or the stock market or anything else. Make sure you buy a condo thats a CORNER condo with the bedroom having no neighbor and noise is done. Dont be a cheap charlie and buy in a Thai ghetto surrounded by karaoke bars or next to a vacant block ...not rocket science.

 

Edited April 9, 2019 by madmen

[Delight]

 

when I purchased my condo-back in 2005 -  (also in Pratumnak) the retail prices were price per M as

1st Floor 49.5K

2nd floor 50K

3rd floor 55K

4th floor 60K

5th 62.5K

6th 65 K

So the 64K /M is not un reasonable.

The problem maybe the high Baht

Back in the day (2005)  1 dollar 40 Baht

Now about 31.5.

So a large increase from a dollar perspective

A gigantic leap in cost  from a pound sterling perspective.

Rent initially is good advice

You should spend that time finding a distressed seller.

Ideally a condo that you want at sub 50,000 Baht/M.

It seems to me that there are few buyers (or renters) in town.

 

[Pravda]

3 minutes ago, Delight said:

 

when I purchased my condo-back in 2005 -  (also in Pratumnak) the retail prices were price per M as

1st Floor 49.5K

2nd floor 50K

3rd floor 55K

4th floor 60K

5th 62.5K

6th 65 K

So the 64K /M is not un reasonable.

The problem maybe the high Baht

Back in the day (2005)  1 dollar 40 Baht

Now about 31.5.

So a large increase from a dollar perspective

A gigantic leap in cost  from a pound sterling perspective.

Rent initially is good advice

You should spend that time finding a distressed seller.

Ideally a condo that you want at sub 50,000 Baht/M.

It seems to me that there are few buyers (or renters) in town.

 

 

That's a pretty terrible return considering that 2005 building doesn't age well in Thailand.

 

P

[DaRoadrunner]

1 minute ago, Pravda said:

building doesn't age well in Thailand.

Good comment Pravda. Crap construction. Yet another reason why I have not bought one.

[Pravda]

2 minutes ago, DaRoadrunner said:

Good comment Pravda. Crap construction. Yet another reason why I have not bought one.

 

Actually this is the only reason why I didn't buy a condo. Maintenance and construction.

 

You want to know how your building is going to look like in 10 years? Just go around and look at 10 year old condo buildings. Then have another look at 20 year old buildings. The rapid deteriorating is shocking, admittedly less shocking in Pattaya than Bangkok.

[DaRoadrunner]

You can also buy a nice house in Pattaya for less cost than some of the condos. Only..... we Farang are deemed not worthy to own a house. ... Sigh.

[madmen]

1 hour ago, Pravda said:

 

Actually this is the only reason why I didn't buy a condo. Maintenance and construction.

 

You want to know how your building is going to look like in 10 years? Just go around and look at 10 year old condo buildings. Then have another look at 20 year old buildings. The rapid deteriorating is shocking, admittedly less shocking in Pattaya than Bangkok.

I bought 12 years ago lower sukhimvit Bangkok and we just had all 17 floors Painted and a remodel lobby , the pool switched to salt water and new deck chairs and dozen other things. The maintenance is the only reason I haven't sold up . 

 

the problem is you like every other wanna be landord in pattaya  are looking at condos the price of a new corolla. 

 

Just buy from a REPUTABLE developer and dig deep but most pattaya renters are earning 30%  ????  in some "fixed" term fund  with there millions of baht while staying in a little shoe box and think they are living the dream...enjoy! 

Edited April 9, 2019 by madmen

[Chelseafan]

I wouldn't buy at all. Rent is cheap in Pattaya, you can pick up a nice large condo for 15-20k a month (cheaper still if you want to slum it a little)

With the current Government changing rules almost daily, I'd want to be in a position to leave at a moments notice and not have collateral tied up in real-estate.

 

[baansgr]

If its going to be your main home then buy once you have found the condo you like. If its for investment/rental....forget it. I bought and sold my condo for the same price but lived there over two years so in theory have saved money, not to mention, I decorated etc to how I wanted without worry from a landlord. Older buildings that are well kept with a good management company are better than the new throw together shoeboxes being constructed now. Central Jomtien Beach has a few that the view can never change and rooms are spacious. Take your time but really dont expect stupid lowball offers to be accepted.

[stiggy23]

15 hours ago, Pravda said:

 

That's a pretty terrible return considering that 2005 building doesn't age well in Thailand.

 

P

Thanks this is a good analysis. Pound/Bhat rate is pretty bad at moment and not knowing whats going to happen with Brexit, I am keen to wait now. Perhaps, £ will get stronger if there is an orderly withdrawal from EU. 

The general feeling is that the prices in Pattaya are not going to run away. Just look for something I like. Jomtien is another area I was keen on but it looks a little bit far from the malls/shops etc.

[Benmart]

On 4/9/2019 at 10:14 PM, stiggy23 said:

Thanks for your responses. Looks like renting will be a good idea prior to buying and then making the call. Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down. Just dont want to pay fair price if I can help it. The condo i was looking to buy or was veering towards is priced at 64k bhat / sq meter in Pratamnak hill, it has stunning sea views i have to say and a big balcony. The one near Big C is more like an investment/rental opportunity rather than somewhere I would want to stay. 

A wise decision to rent and decide. Daytime conditions (noise, music, traffic, safety), may be drastically different than those of nightime. I have lived in central, Prahtamnak, Naklua/Wongamat and soon, Jomtien. Those criteria, along with cost, is a factor. PM if you have further questions.

[KittenKong]

22 hours ago, baansgr said:

I bought and sold my condo for the same price but lived there over two years so in theory have saved money,......

I wonder if you did? Are you taking account of agent's fees and transfer costs? And the common fees? And are you taking into account the interest or capital growth that you would have made had you done something else with the money?

 

It isnt very hard to find rental condos here for which the rent is well under 5% of the asking price for sales.

[scubascuba3]

Don't buy straight away, I was surprised that I changed my mind a few times about location and size. After a couple of years I'm settled on a location, glad I didn't buy before

[AgMech Cowboy]

On 4/9/2019 at 9:55 PM, KittenKong said:

Thai property is easy to buy and hard to sell.

Truer words never spoken.

 

Rent! It will save you many headaches.

[CH1961]

If you rent a condo, you can be sure the rent will rise after you feel cosy in your home. And then you have to move on with all your belongings. 

Moving every year is more for the young nomades, not for retirement ????

[sammieuk1]

Beach bums are currently having difficulties living there so I'm told but swimming lessons are booming????

[Chicken George]

At retirement age? Single? Why the hell buy? Rent. You may need capital for future problems.. Health etc... At least rent for a year or more.. 

[mercman24]

i rent in JOMTIEN love it 9000 a month 45 sq m, pool gym, 100 m from the sea,  have a look around that area, as said beffore, right on the baht bus route, there are plenty to rent round here. agree on the corner plot idea, i have windows all round on one side, next door condo is empty most of the year, in fact my mate stayed there for one month, last year 

[newnative]

   Your lifestyle may determine the area that you will like best.  My partner and I have lived in central Jomtien, south Jomtien, Pratamnuk, south Pattaya, central Pattaya, and Wong Amat.  Each area has a different vibe.  If you aren't going to be driving, I would look for a condo on the baht bus line, or close to it.  Think about your activities in a typical week and that may narrow down the area you'd like to be in.  

    We have bought and sold 14 condos in Pattaya, all at a profit, so the news is not all doom and gloom.  Buy foreign name, oceanview, good location, good building reputation and you should do ok.  We prefer owning because we like our own things and don't like renting but good advice from others to rent first, perhaps even trying some different areas.  

    Some buildings may not be maintained that well but that has not been our experience.  We are currently in a building over 30 years old and it is in tiptop shape.  We sometimes return to buildings where we have previously owned and they seem to still be in good shape, too.  Do your homework and take your time.  Check building financials, sinking fund, owner feedback, and your own observation over several visits, day and evening.  Good luck.

[murraynz]

On 4/10/2019 at 1:14 AM, stiggy23 said:

Thanks for your responses. Looks like renting will be a good idea prior to buying and then making the call. Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down. Just dont want to pay fair price if I can help it. The condo i was looking to buy or was veering towards is priced at 64k bhat / sq meter in Pratamnak hill, it has stunning sea views i have to say and a big balcony. The one near Big C is more like an investment/rental opportunity rather than somewhere I would want to stay. 

there are many condos in cosy beach area with fantastic views.. over past cple of years some of these buildings have had their views impeded a bit, but there are still a few buildings with very 'secure' views.

its hard to beat the Amari for views {except for defunct waterfront building}. 

always best to buy condo that is in a completed compex.. 

dont ever class condo buying as an 'investment'... its no good for that.. your just buying a nice lifestyle..