I have 5 dollars and a bottle of Chang I will trade for a condo......

3 minutes ago, fforest1 said:

I have 5 dollars and a bottle of Chang I will trade for a condo......

I’ll up you on that ... I have a toilet roll . 

1 hour ago, Airalee said:

Easily.  Maybe not on the Pacific or Atlantic coasts, but the Gulf of Mexico, from Florida to Texas has plenty of options that are far less expensive and with homestead exemptions in both Texas and Florida, the property taxes are quite low when comparing small condos.  The higher homeowners dues will offset the costs but the building quality is better.

 

It’s not the cost of real estate that scares me away from the US but rather, the cost of healthcare as a 51 year old.  At 65, with Medicare, the US would become a no brainer if just comparing prices.  It’s the people and political correctness run amok that would bug the <deleted> out of me.

     What scares me away from the US is the cost of nursing care there--looking down the road.  Less of a consideration for you but more for me as I am older.  My mother was in a nursing home in the US for 10 years before she passed away and the 10 year cost was $700,000, or $70,000 a year.  My pension and SS come to about $35,000 a year.  When and if the time comes, I think I would rather be in my own home here with live-in help, which I should be able to afford.

   

2 minutes ago, newnative said:

     What scares me away from the US is the cost of nursing care there--looking down the road.  Less of a consideration for you but more for me as I am older.  My mother was in a nursing home in the US for 10 years before she passed away and the 10 year cost was $700,000, or $70,000 a year.  My pension and SS come to about $35,000 a year.  When and if the time comes, I think I would rather be in my own home here with live-in help, which I should be able to afford.

   

Yeah...I’ve thought about the nursing home racket too.  I’d rather die here too....be it by natural or unnatural causes.  

34 minutes ago, fforest1 said:

I have 5 dollars and a bottle of Chang I will trade for a condo......

What size of bottle?

Nursing Care ?!?!  Forget it Covid 19 has negated any use for that.

3 hours ago, newnative said:

    My partner and I have been here nearly 10 years and could end up being here 30.  Obviously, we don't find Pattaya 'crappy' and, if we did, we would have moved somewhere else long ago--we've made an art of moving quickly and frequently as we've sold condos out from under us.  It didn't take us long to decide that Rayong wasn't for us and move on.  

    The everyday, normal things we did in America we do here, in nice facilities, as well:  going to the movies, going grocery shopping, going to the mall, exercising at the gym, swimming, socializing with friends, pursuing hobbies, doing routine dental and healthcare, eating out at a variety of restaurants, taking trips, etc.   Yes, we could rent here and I have said lots of times on T/V, including today, that renting works very well for many.  It's just not for us, for a variety of reasons.  

Oh there you are again. So how is your condo flipping business ? Still booming ?

5 hours ago, chrisandsu said:

Just look above . Guy is talking about 8.1 mill to buy a condo or 20 k a month in rent . Unless you are intending on living there for 30 years then renting is a no brainier . Pattaya should be looked at about the same as some crappy beach town in Spain . Prices are not a lot different for the same build quality . 

8.1 million baht x 6% = 486,000 baht per annum.

 

486,000 baht /  12 months = 40,500 baht per month.

 

Rent on the same property is only 20,000 baht  month. 

 

Sure, due to the corona virus, returns are down from 6% on your 8.1 million baht, but they will bounce back when the virus has passed, so why would anyone even consider buying in such an unstable country for foreigners, when their capital investment can earn more than double the rent, safely back in your home country?

 

 

Prices will drop. Market was already over inflated worldwide. Just wait. Major corrections are ahead of us. 

4 hours ago, bkk6060 said:

I think now could be one of the greatest condo buying opportunities ever.

Based on distressed sellers, yes, but why are they distressed????  It's not the virus.

 

With so many wanting out of property, and/or Pattaya, and/or Thailand, one must ask themselves, why is this the case?

 

Then, decide if Pattaya / Thailand is the right choice for them, and buying property is the right decision to make for the future.

VT2 owner here - back in the Uk for the last 3 weeks. Paid 1.3 for our 37sqm studio on 16th floor /Jomtien side in January 2019 . The owner had been trying to sell for 2 years and went down from 1.9 to 1.3 over that period.  Good committee in at the moment and have rescued the block from a team that pinched millions of baht and didn't do any maintenance or chase up delinquent monies for years. There is money in the kitty for new lifts and the power supply was replaced after a 3 day power cut when the place nearly erupted. Very few sales going through that I saw in my 3 months there. Chinese were in bargain hunting before the crash. Anecdotally fire sales prices are around a mill per unit. As others have said maybe put a notice on the board or leaflet the block and see if you can ferret out a fire sale bargain. That said prices aren't going anywhere in the short to medium term except possibly down so why buy. Rent for a while and see if you like the place.  I regard the money spent there as disposable and we have a very nice hotel room for life assuming the block doesn't go too the dogs (or Thailand for that matter) if you're not married to a Thai I really wouldn't buy now or probably ever as Thailand has changed and not for the good. 

100% correct Spider Mike, that's a cert.

If this cv19 carries on for at least another 6 months which all given that's the minimum, IF there's no second explosion/mutation. No way can the Central Banks support the negative effects to the national and hence global economies.

 

25-40% drop in western and developed countries real estate would be my lowest guess- timation.

8 minutes ago, URMySunshine said:

I regard the money spent there as disposable and we have a very nice hotel room for life assuming the block doesn't go too the dogs (or Thailand for that matter)

And if the block, Pattaya, or Thailand, was to become an undesirable place to live, you have lost your money. 

 

Sure, only 1.3 million baht, but better off still in your pocket, than put into a decaying box of bricks, as a testament to Thailand's poor governance and mismanagement.

5 minutes ago, Leaver said:

And if the block, Pattaya, or Thailand, was to become an undesirable place to live, you have lost your money. 

 

Sure, only 1.3 million baht, but better off still in your pocket, than put into a decaying box of bricks, as a testament to Thailand's poor governance and mismanagement.

My wife's Thai and if stuff like this goes to the dogs then the outlook in general is pretty bad for everyone. But you're right I wouldn't buy now or probably ever from now on. The market in Jomtien/Pattaya will be dire for the foreseeable. Nice to have your own place though particularly if you can afford it, which we can - in retrospect if we did buy then we would have bought a 2 story shop house on Pattaya Second Road that has an outside price of 1.8 and no buyers at least if we had bought we would have some control of what happens and what we need to do ! Plus once you have bought a place you start to sink serious money after the purchase and don't tend to budget for that.

 

My wife will spend a lot more time than me there - I'm done mostly with Thailand after 20 years of visiting/working there. 

9 minutes ago, URMySunshine said:

Nice to have your own place though particularly if you can afford it,

It's only nice to have your own place, if it's actually in a nice place.  Who knows what Pattaya will look like 2 or 3 years from now, and that's a pre virus comment.

 

Not sure what your wife being Thai has to do with making a sound financial decision. 

18 minutes ago, Leaver said:

It's only nice to have your own place, if it's actually in a nice place.  Who knows what Pattaya will look like 2 or 3 years from now, and that's a pre virus comment.

 

Not sure what your wife being Thai has to do with making a sound financial decision. 

It is currently a very nice place for our tastes with a little bit of 'grit' to give it some character and she  (and I) likes the place has friends in the area. Like I said I wouldn't do it now but have plenty of money so don't worry about that particular ' investment' or lack off. We have no children and there are no pockets in shrouds. Stuff went at a million a month ago I know that. Low floor - nothing inside , so I'm confident that a studio there is actually worth that and there is a currently a market at that price. 

24 minutes ago, URMySunshine said:

It is currently a very nice place for our tastes with a little bit of 'grit' to give it some character

Sure, and virus aside, is Pattaya / Thailand going to be "a very nice place for your taste" in the the future, that is, the not so distant future?

 

Pattaya was changing rapidly for westerners, pre virus.  Who knows what it will look like 12 to 24 months from now.

 

1 hour ago, Destiny1990 said:

Oh there you are again. So how is your condo flipping business ? Still booming ?

    It has never been a business, and certainly never 'booming'; more a hobby my partner and I enjoy doing, on no set timetable.  Except for the rental condos, we have lived in all the condos, ourselves.  If we found a buyer and were ready for another project, we would sell and move on to another condo to have fun working on, to have for ourselves to live in and enjoy.  

    Right now we have 1 bedroom condos in Pattaya and Bangkok, which we are working on.  We like both of them a lot and I'm not getting any younger so maybe we will stay with these two for awhile when they are done.  We'll see.  

2 hours ago, newnative said:

    It has never been a business, and certainly never 'booming'; more a hobby my partner and I enjoy doing, on no set timetable.  Except for the rental condos, we have lived in all the condos, ourselves.  If we found a buyer and were ready for another project, we would sell and move on to another condo to have fun working on, to have for ourselves to live in and enjoy.  

    Right now we have 1 bedroom condos in Pattaya and Bangkok, which we are working on.  We like both of them a lot and I'm not getting any younger so maybe we will stay with these two for awhile when they are done.  We'll see.  

Frankly speaking I don’t think you have much choice in this...

29 minutes ago, Destiny1990 said:

Frankly speaking I don’t think you have much choice in this...

I was thinking the same.

 

Whilst the member is now out of the flipping property hobby, he couldn't do it now, even if he wanted to. 

14 minutes ago, Leaver said:

I was thinking the same.

 

Whilst the member is now out of the flipping property hobby, he couldn't do it now, even if he wanted to. 

When the Europeans buyers left he quickly claimed to shift over to the Russian buyers when they left he claimed to shift over to the Chinese buyers . With these chinese gone I guess now  he is going to brag making big fat profit re-sales to the rich Thai local buyers !!

Anyway his post have purely some entertainment value however he has never inserted a shred of proof or any verification whatsoever and if u calculate his flipping methods its 100% unprofitable !! If deductions of all taxes are done and exchanging of currencies costs and Sales agent fees !! The above all make money but not the condo owner !

3 hours ago, Destiny1990 said:

When the Europeans buyers left he quickly claimed to shift over to the Russian buyers when they left he claimed to shift over to the Chinese buyers . With these chinese gone I guess now  he is going to brag making big fat profit re-sales to the rich Thai local buyers !!

Anyway his post have purely some entertainment value however he has never inserted a shred of proof or any verification whatsoever and if u calculate his flipping methods its 100% unprofitable !! If deductions of all taxes are done and exchanging of currencies costs and Sales agent fees !! The above all make money but not the condo owner !

Anybody trying to flip condos in Pattaya now is flipping mad !

Can you guys give me a ' steer' as to the true,ish market price for say a 2 bed    apartment  circa 65 sq m at view talay 2  ,thanks            

5 hours ago, strikingsunset said:

Can you guys give me a ' steer' as to the true,ish market price for say a 2 bed    apartment  circa 65 sq m at view talay 2  ,thanks            

No real point asking for a current market price.  The virus will put a lot of downward pressure on the property market here. 

 

The market was already in a downturn, but the virus might just cause it to fall off a cliff.  When it bottoms out, there will be cheap properties here, across all price ranges. 

This has to be a wind up right? ......and you're a midget, correct?  And where would this 2 bed 65sqm condo be Lilliput? 5555.  Google the real estate companies and have a look at some and then think about it.

For the same money and I m only guessing here, you'rein the 3m "ballpark" yes? Shop round and if you are serious, iyou can buy a lovely 120-150Sqm house 2-3 bed 2 bathroom perhaps even on a nice village with pool etc. If the land ownership is a problem use a competent lawyer and set up a Usufruct.

 

If a condo is still what you want, I know where there is a fantastic 2 bed 2 bath 85sqm, well finished and fully furnished unit, in a very well managed, but slightly expensive block, 2 pools and 200m to a lovely beach.  You ll get it for 2.5Mil easy!

Given what's going on and the demographics of Western condo owners in Pattaya I would expect to see a number of empty/abandoned condos in a few months time.  Maybe some with the decomposing body of the owner still inside. Be vigilant for bad smells etc.

17 hours ago, URMySunshine said:

Anybody trying to flip condos in Pattaya now is flipping mad !

In other words our Dear tvf member Newative is finally Flipped Out !

On 3/25/2020 at 4:17 AM, Gabor said:

I bet no one sells under the recent situation.... not for 1.7 mill, not for less, than 1 mill... Sellers simple waits for the better times, unless a hurry sell... but I see no one hurry sell... Most of the owners wants to sell are abroad...

But when will there be 'better times', and long-term will prices ever get back to those of 1, 2, a few years ago?

 

A friend has a big luxury 2 bed 2 bath condo, famous luxury building very good condition sea view and Pattaya bay view, contacted maybe 20 professional agents put it on the market 1 year ago for 22MBaht, very few inspections, now reduced to 18MBaht.

 

A couple of weeks back 1 agent (high profile property agent) told him, even if you reduced price to half (9M) I doubt you will get a buyer.

 

Plus seems like plenty of farang nowadays not so interested in Pattaya. 

18 minutes ago, scorecard said:

But when will there be 'better times', and long-term will prices ever get back to those of 1, 2, a few years ago?

 

A friend has a big luxury 2 bed 2 bath condo, famous luxury building very good condition sea view and Pattaya bay view, contacted maybe 20 professional agents put it on the market 1 year ago for 22MBaht, very few inspections, now reduced to 18MBaht.

 

A couple of weeks back 1 agent (high profile property agent) told him, even if you reduced price to half (9M) I doubt you will get a buyer.

 

Plus seems like plenty of farang nowadays not so interested in Pattaya. 

That's what is happening, and what will continue to happen.

 

People paid good money a few years ago, when Pattaya / Thailnd was in favor with westerners, now, it's not. 

 

That leaves many owners stuck here and living in their property, selling it at a big loss, or walking away from it.  Even renting out a property is difficult now.  

 

You can have a nice property to sell, but if the harsher visa laws, strong baht, weaker western currencies, higher cost of living etc are creating a less desirable location, then you have no one to sell to, thus, having no real asset at all, unless you are happy living here for the next 20 years, but who knows what Pattaya will be like 2 years from now.    

Don't even get me started on the cost of living here.  In the 13 or so years I ve been here almost all westerner currencies have depreciated by 30-50%, correct? Which should make imported goods cheaper, correct?  No!!  

 

Most have doubled or more, so in real terms that's a 3-4 fold increase of such items.

Cheese wine butter etc etc.  62Bt for a tin of Brooke's baked beans, and theres a FTA with Australia.  Heinz 100Bt.  400Bt buys an awful bottle of wine, have to go up to 500-600 for a reasonable one.  Not even is local brewed beers cheap either, a quality Federbrau - $2 from a supermarket?!?!  Today I went to buy some "home made" lasagne from Tops to freeze.  345Bt for a portion enough for me and a bit for the Gf.  No point eating in.

 

Yes utilities etc are nt expensive, but cars.....secondhand prices are still triple that of the U.K.  Anything decent from clothes to electrical appliances it's the same.

 

All of which must be factored in along with the visa fees for agents, as it's pointless trying to do it legit now, the soon to be medical insurance cover.  Nah the place is f' ooked, before Covid19.