Is it truly game over for the medium range condo market in farang tourist areas (Bangkok excepted).

[Destiny1990]

A decade ago foreigners where lining up here at the real estate agents in order to purchase a property here.

Nowadays those buyers are gone and or need to carefully explain themselves at immigration why they are visiting this place already for the second time in only one year !

I can understand that those investors are feeling mistreated and are upset about that their investment is going tits up !

[timendres]

30 minutes ago, beautifulthailand99 said:

She has an (unsaleable) big house in Yala where two older sisters and a brother in law live. My late father-in-law (he was head honcho of Yala police for many years) was wise enough to leave her in control of the family assets which she has carefully husbanded ever since. She was the youngest of 10 children and all the family have done well enough to look after themselves and have have good families. So there will be no shortage of nephews and nieces who see her as the auntie angel of the family. So after I'm gone she will have plenty of choices as to what to do next , including staying 6 months in the UK and downsizing our paid up house. As others have said we will calm down our enthusiasm to up-size for the time being. The best investment in Thailand is to marry a good woman , one you can trust and love until death us do part !

Ah. With the existing house and everyone doing well, then the Jomtien condo is more of a "vacation place", and that makes a lot of sense and would be quite nice for the family.

[madmen]

For most pensioners paying more than 5 k rent in a fan room cupboard would be considered a major rip off , same as paying more than 50 baht for a meal or drinking outside of happy hour..people actually live out there golden years like this! Buying a condo in CASH would cancel out nearly all pensioners

 

How do people screw life up so badly?

Edited November 8, 2019 by madmen

[LALes]

I bought a nice, 60 sq.m condo in Jomtien 12 years ago-before Russians, Chinese, Indians and Air BnB.  Who could have ever envisioned the downward spiral that ensued after the crash of 2008?  Fortunately, I have enough money to travel and I only have to be here 5 or 6 months out of the year.  Looking at Jomtien today, no way I would ever buy anything here.   The bozo quotient is way too high-attracted by the ridiculously cheap rents.  I much prefer a more sophisticated city life that Bangkok offers but it costs twice as much as Pattaya/Jomtien.  I tried to sell my condo a few years ago with the idea of moving to Bangkok but there were no takers because I was asking 30% over my initial cost.  Stupid me expecting an increase in property values.  The only condos that sell in my building are singles or fire sales, so its here where I must make my peace.

[billd766]

On 11/6/2019 at 11:10 PM, Pravda said:

The only market that matters is Bangkok market.

 

 

But only if you live there. If you live in a different city then the BKK market is not much use to you.

[beautifulthailand99]

7 minutes ago, LALes said:

I bought a nice, 60 sq.m condo in Jomtien 12 years ago-before Russians, Chinese, Indians and Air BnB.  Who could have ever envisioned the downward spiral that ensued after the crash of 2008?  Fortunately, I have enough money to travel and I only have to be here 5 or 6 months out of the year.  Looking at Jomtien today, no way I would ever buy anything here.   The bozo quotient is way too high-attracted by the ridiculously cheap rents.  I much prefer a more sophisticated city life that Bangkok offers but it costs twice as much as Pattaya/Jomtien.  I tried to sell my condo a few years ago with the idea of moving to Bangkok but there were no takers because I was asking 30% over my initial cost.  Stupid me expecting an increase in property values.  The only condos that sell in my building are singles or fire sales, so its here where I must make my peace.

I had to look up the word 'bozo' ! Cheep and cheerful Thai style but not vile and nasty , a twisted tourist tapestry , that's Jomtien. Personally I can't take the madness , relentless hum and choking air that Bangkok is and don't want to spend big bucks insulating myself from it.  Maybe on our second 3 month sojourn the novelty will tire. I hope not anyway I have a new fitness regimen and warm sunny days to look forward to. 

 

Bozo ????
Bozo is a name that references someone who has failed to achieve any level of formal education and is easily lead and influenced by anyone who appears sympathetic. Bozo will, because of their lack of of understanding of the english language, try and engage in conversation, but in almost all cases, will become irritated and abusive due to not understanding what is being said to them. A Bozo will make up stories about their achievements, but everyone knows that they are just fabrications. A Bozo is not smart enough to know that their lies have been discovered and will continue on prosecuting the lie.

[geisha]

I did look into the New Nordic area of Pratumnak . I was pleasantly surprised of the quality, it’s all clean in that area, and the buildings and pools look well maintained.There are also some new condos that are expensive and look nice around Cosy beach. I was very tempted, but as there is no public traffic I ruled it all out. Being a single lady I like to go shopping, eat out, and not have to rely on taxis , so this is why I like Jomtien 3/4 months through French winter. I stayed 20 yrs in Phuket, left for obvious reasons, an de 2 yrs Hua Hin where I quickly got bored and the sea front is not nice.Also, it’s great being close to  Suvarnabhumi as i like my trips away.

[geisha]

Sorry, I meant public transport not traffic , which love it or not, is necessary.

[beautifulthailand99]

3 hours ago, geisha said:

Sorry, I meant public transport not traffic , which love it or not, is necessary.

Chateau Dale has a more upmarket clientele but not many views and big condos if that's what you are after to name but one. 

 

https://www.thailand-property.com/condo/2823/chateau-dale

[geisha]

Thank you , I didn’t realise Chateau Dale was so big. Although I’ve been to the Spa there. I see some rentals accept a 6 month lease instead of 1 yr, so if I find one I like I might give it a try next winter.The one I’m in now does 3/4 months which is good, but if I found a more solid place I’d move. I like the Royal Hill further up too, don’t know what it’s like there. I eat often at the Wooden Box.

[beautifulthailand99]

1 minute ago, geisha said:

Thank you , I didn’t realise Chateau Dale was so big. Although I’ve been to the Spa there. I see some rentals accept a 6 month lease instead of 1 yr, so if I find one I like I might give it a try next winter.The one I’m in now does 3/4 months which is good, but if I found a more solid place I’d move. I like the Royal Hill further up too, don’t know what it’s like there. I eat often at the Wooden Box.

It's a bit on the quiet side for me with little old ladies with dogs and chintzy decorations in the lobbies. But the residents obviously like it that way. But I imagine the sea breezes (and views) that come off the bay would be intercepted by the monoliths of View Talay 1 and 2. But if that doesn't bother you then maybe it's a go-er and it won't have any cheap charlies or Chang monsters in it's rooms. Yes the wooden box is great if a bit pricey and the Art cafe across the road which is run by lesbians and has a gay crowd is also laid back and has good food. View Talay 5 might also be what you are looking for if you want views and high floors. Which is just across the road from Chateau Dale. 

 

https://www.thailand-property.com/condo/3189/view-talay-5

[ChasingTheSun]

As they say, all that matters is location location location.

 

Each location is its own market. One cannot compare apples to oranges, or lump one city together with another.

 

That being said, the only place i could ever consider living in Thailand would be Phuket.

 

I am a resident of Phuket. The market here has been stable the last several years. There has always been allot of off-plan projects for sale, but few new condo buildings have actually broken ground the last few years.

 

I suppose the lack of new builds has helped to keep Phuket condo sale prices stable.
 

There are also a number of new western-branded 5 star hotels recently completed, and new ones in the planning stage. That tends to bode well for future growth expectations.
 

Retirement-visas and investment-based visas and healthcare remain reasonably priced/accessible and attractive to western middle class and higher, so there should still be Increasing amounts of expats looking to retire in Phuket for the foreseeable future. Phuket property also remains allot cheaper than in the west, so that should also drive interest.

[kingofthemountain]

19 minutes ago, ChasingTheSun said:

There are also a number of new western-branded 5 star hotels recently completed, and new ones in the planning stage. That tends to bode well for future growth expectations.
 

Retirement-visas and investment-based visas and healthcare remain reasonably priced/accessible and attractive to western middle class and higher, so there should still be Increasing amounts of expats looking to retire in Phuket for the foreseeable future. Phuket property also remains allot cheaper than in the west, so that should also drive interes

Is it a copy\cut from a TAT brochure?

[meand]

If you gifted me one of those condos, I would probably turn it down. Way too much trouble. 

[ChasingTheSun]

9 minutes ago, kingofthemountain said:

Is it a copy\cut from a TAT brochure?

Haha.

 

just my personal observations mate. 
 

 

[Gee Ku]

On 11/6/2019 at 11:10 PM, Pravda said:

The only market that matters is Bangkok market.

 

 

A Thai friend has a 40sqm condo apartment in the Silom-Surawong area in Bangkok to sell for 2.5 million Baht.  0818513488.

[Henryford]

I am certainly glad i bought a condo 13 years ago (with the Pound at 71). I have broken even now and will live rent free for the rest of my life (instead of paying rent with the Pound at 39). Even if Thailand kicks me out i have had my monies worth.

But i would not buy one now. A semi decent condo in a good location would cost 100,000 GBP and with the uncertainty of whether i could even stay renting is the way to go.

Edited November 17, 2019 by Henryford

[beautifulthailand99]

On 11/17/2019 at 2:52 AM, Henryford said:

I am certainly glad i bought a condo 13 years ago (with the Pound at 71). I have broken even now and will live rent free for the rest of my life (instead of paying rent with the Pound at 39). Even if Thailand kicks me out i have had my monies worth.

But i would not buy one now. A semi decent condo in a good location would cost 100,000 GBP and with the uncertainty of whether i could even stay renting is the way to go.

If you have a Thai partner you can trust 

If you want to live in Thailand or spend a considerable time here 

If you like having your own place to furnish / decorate plan as you wish and leave stuff behind between trips

If you have sufficient funds that 2/3 million is an amount you can let go into a fairly illiquid asset and still have plenty of disposable income/assets that you can draw upon. 

 

Then buying a condo is still a very valid option - just take your time and choose well and avoid new build particularly in the Pattyaya/Jomtien area. Current ongoing annual charges for a studio in a modest second hand block there should be around 8-15k which is roughly £200 - 400 pa. or 4 - 8 pounds per week. Our condo including land office charges cost 1.4 million or around £35k

 

Monthly charges 

Maintenance  10,000

Electricity / water / internet 2500 baht / month 

 

So for a 3 month stay we are paying around 20k in charges. Before having a studio we were paying at least 100k on hotel charges for 3 months and it let's me stay there at no extra cost and not have to live out of a suitcase whilst she gadds off to meet the family at various places. 

 

Here's a good one if you can stomach having it in company name or transferring to your Thai partner if the company checks out with no hidden 'uglies' of which I have no vested interest.

 

https://www.thailand-property.com/condo-for-sale-in-view-talay-2-jomtien-chonburi_3897317

 

Edited November 18, 2019 by beautifulthailand99

[chrisandsu]

On 11/13/2019 at 8:45 AM, kingofthemountain said:

Is it a copy\cut from a TAT brochure?

Has to be either a realtor or someone trying to offload their mistake . 

[ChasingTheSun]

On 11/19/2019 at 1:00 PM, chrisandsu said:

Has to be either a realtor or someone trying to offload their mistake . 

If you cannot afford to buy in thailand or retire/live in thailand, why would you want to monitor and crib in Thailand forums ?

 

Fyi...There are many thousands of expats who happily own/rent their condo/house in thailand and/or are happily working/retired in Thailand. 
 

It’s usually the expats that are barely scraping by that complain the most about living in Thailand.

[chrisandsu]

45 minutes ago, ChasingTheSun said:

If you cannot afford to buy in thailand or retire/live in thailand, why would you want to monitor and crib in Thailand forums ?

 

Fyi...There are many thousands of expats who happily own/rent their condo/house in thailand and/or are happily working/retired in Thailand. 
 

It’s usually the expats that are barely scraping by that complain the most about living in Thailand.

So you are a realtor then ? I have owned and sold property in Thailand and still own land . The property was the worst investment I have ever made . 

[sunnyboy2018]

Long distance travel is in jeopardy due to eco extremists and this will affect the market.

[beautifulthailand99]

Just now, sunnyboy2018 said:

Long distance travel is in jeopardy due to eco extremists and this will affect the market.

Climate change, I think you mean will be a game changer for all markets everywhere. Thailand will be an early loser that said “On a long enough time line, the survival rate for everyone drops to zero.”

[sunnyboy2018]

In cozy beach rd condo around 80 to 100 sq mt are not getting the 4 or 5 mil they were bought at. Now fetching a out 3.5 or less.

[beautifulthailand99]

Just now, sunnyboy2018 said:

In cozy beach rd condo around 80 to 100 sq mt are not getting the 4 or 5 mil they were bought at. Now fetching a out 3.5 or less.

Sounds about right a lot of folk who aren't forced sellers benchmark on "my mate got 4.5 mill a couple of years ago" - so they stick it on at 4 along with the hundred others. The value to sell today is probably 3 million or less. This high season will be a real tester of prices - the for sale in the 2 blocks I am looking at have jumped from 167 - 173 in a week as owners come back and hope to sell. 

[sunnyboy2018]

1 hour ago, beautifulthailand99 said:

Climate change, I think you mean will be a game changer for all markets everywhere. Thailand will be an early loser that said “On a long enough time line, the survival rate for everyone drops to zero.”

No. I mean eco zealots will jeopardise long distance travel and other forms of civlised modernity.

[ChasingTheSun]

2 hours ago, chrisandsu said:

So you are a realtor then ? I have owned and sold property in Thailand and still own land . The property was the worst investment I have ever made . 

Nope. I am not a realtor.

 

Just like any real estate market in the world, if one does their research properly, and they buy in a good location at the right price, they can do very well.

Just like any real estate market In the world, if you overpaid to begin with, you may need to wait a long time to get your money back. The more you overpaid, the longer you will need to wait.

 

Sorry to hear about your losses.

 

 

 

[ThomasThBKK]

2 hours ago, beautifulthailand99 said:

Climate change, I think you mean will be a game changer for all markets everywhere. Thailand will be an early loser that said “On a long enough time line, the survival rate for everyone drops to zero.”

 

Vietnam and co are far worse off. Not to mention the maldives, carribeans, fiji and co... 

Phuket and co seem fine on the prediction maps, we should be willing to sacrifice bangkok - it sucks anyway. 

 

 

Vietnam on the other hand seems majorly fukked. 

 

Quote

e for sale in the 2 blocks I am looking at have jumped from 167 - 173 in a week as owners come back and hope to sell. 

 

If u use hipflat and co to check - most are duplicates, i wrote to script to parse them etc - in the end it was maybe 20% of the condos left in bangkok, the rest was all the same condo listed by different agents. would guess the same applies to other regions.

Edited November 20, 2019 by ThomasThBKK

[kingdong]

On 11/6/2019 at 9:05 PM, beautifulthailand99 said:

One thing's for sure if Thailand has a wise/engaged government keen on maximising the countries economic potential these potential death spirals could be avoided. Condos in Pattaya/Jomtien are cheap as chips as compared to SE England.

So burn your bridges and settle here.how do health care charges equate?compared to the nhs?

[kingdong]

On 11/18/2019 at 4:14 PM, beautifulthailand99 said:

If you have a Thai partner you can trust 

If you want to live in Thailand or spend a considerable time here 

If you like having your own place to furnish / decorate plan as you wish and leave stuff behind between trips

If you have sufficient funds that 2/3 million is an amount you can let go into a fairly illiquid asset and still have plenty of disposable income/assets that you can draw upon. 

 

Then buying a condo is still a very valid option - just take your time and choose well and avoid new build particularly in the Pattyaya/Jomtien area. Current ongoing annual charges for a studio in a modest second hand block there should be around 8-15k which is roughly £200 - 400 pa. or 4 - 8 pounds per week. Our condo including land office charges cost 1.4 million or around £35k

 

Monthly charges 

Maintenance  10,000

Electricity / water / internet 2500 baht / month 

 

So for a 3 month stay we are paying around 20k in charges. Before having a studio we were paying at least 100k on hotel charges for 3 months and it let's me stay there at no extra cost and not have to live out of a suitcase whilst she gadds off to meet the family at various places. 

 

Here's a good one if you can stomach having it in company name or transferring to your Thai partner if the company checks out with no hidden 'uglies' of which I have no vested interest.

 

https://www.thailand-property.com/condo-for-sale-in-view-talay-2-jomtien-chonburi_3897317

 

You,'re obviously very clued up and after hearing your advice will be takeing the plunge and buying a gaff in the los,I mean to say what could possibly go wrong?