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Pattaya Condos: History and Future
Spouse and I have moved on to houses but before we did we sold 18 condos of various sizes, in various locations, in Pattaya. All at a profit, but some profits on the small size. The one thing they all had in common was a seaview--which I think was key. Almost all were in foreign quota, which I think was also important. All were also in good locations, designed and decorated very well, in tip-top shape, and in good condo projects, all of which also helped. They were also priced correctly and listed with as many agencies as we could possibly find, with a good description and photos. People have been talking about the supposed oversupply of Pattaya condos for years. This supposed oversupply is supposedly going to result in some wonderful condo bargains, with everything practically being given away by desperate sellers. We did not find that to be the case when we were buying, but we have not been Pattaya condo owners for a few years now. Bargains, at least at the condo projects we were interested in, were few and far between. That doesn't mean you can't pick up something cheap at a large project offering lots of cookie-cutter shoeboxes without seaviews. Our bargains were mostly the condos we bought off-plan before they were built, plus some that sold cheaply, as they were shells or needed major renovations. We never worried about finding a buyer because we know how the buying process usually works. Let's use as an example the last Pattaya condo we bought. A buyer will usually have, at a bare minimum, at least 3 criteria when starting a condo search: size, price, and location. We did, plus some other things we wanted. So, Pattaya has supposedly 130,000 condos. Right off the bat, even before you start, you need to scratch off those that are not on the market for sale. That eliminates a huge number. Next, condo size. We were looking for at least a 1 bedroom, and nothing less than 70 sqm. So, that eliminated everything not that size or larger. Again, lots more eliminated. Next price. We had, and most buyers do, a specific budget in mind. We had X amount to spend on a condo. So, again, everything on the market that was way over X was eliminated. The list of condos for sale in Pattaya for us to look at was whittling down. Next, area. As with most buyers, we had a specific area that we wanted to be in, and specific areas that we knew we didn't want to be in. More condos off the list. With just those three search items, we were down to not a lot to look at. And, we hadn't even put in other things we wanted that were potential deal breakers, such as seaview, a large balcony, foreign name, large pool, good gym, and good covered parking. If I remember correctly, we ended up with about 6 Pattaya condos for sale that had most of the things we wanted, in the area we wanted, and at the price our budget could afford. We ended up with so few because the area we wanted had fewer condo projects than some other areas. We would have had more to choose from if our area had been Jomtien, but still not a lot. In order to get closest to what we wanted, we had to give up buying in foreign quota, but it worked out ok as the project was in such high demand it was easy to resell. I still recommend buying in foreign quota. So, that's why we didn't worry about selling a Pattaya condo--we knew we were not competing with 130,000 other Pattaya condos for sale. We were only competing with Pattaya condos on the market for sale in our area, about our same size, and at about our same price. Eventually, a buyer always came along--sometimes 'eventually' was very quick, a couple of times it took a lot longer and we needed to be patient. The same has been true for houses, where you have the same search criteria at play with buyers that eliminates a lot of listings. Having said all that, I think a Pattaya condo buyer should be buying because they prefer to own rather than rent, prefer to pay themselves, rather than a landlord, expect to be living in the condo for a number of years, and realize that the condo may not increase much in value, if any, and might more likely just maintain its value. That's why we bought, and would have bought even if we might have lost some money--we like to own the space we live in. If that's not you, stick with renting. -
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Laws, regulations, Police Orders, etc
Updated to remove items with dead links. -
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Search for survivors after Houthis sink second Red Sea cargo ship in a week
I don't claim a crystal ball. Just a lookback. And a reality check with Libya, Syria, Afghanistan, etc. Personally, I think the key in Iran is to get the populace to rise up against the Mullahs and go back to the progressive and prosperous country it was before they took power in '78 (I think that's the year). That's possible only if Israel doesn't kill too many moderate Iranians and turn their survivors into angry zealots. I'd like to think they have a plan for that. But again. No crystal ball. If they are able to turn Iran, they may have peace. But not if they just knock Iran back. -
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Along the Water’s Edge: Daily Life on Bangkok’s Canals
The Big Mango! My arse. Never since I990 have I ever heard anybody call Bangkok the Big Mango. Except some characters in books.
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