Pattaya Property

[Leaver]

3 minutes ago, kinyara said:

You may be right but I thought Western expats and tourists long since ceased to be the primary market for Pattaya real estate. I expect the current situation will just speed up the complete transition to a Chinese dominated market.  They can surely be the only one who have the numbers to fill large new developments either by purchase or AirBnb hotel model. A few months of sbutdown won't delay the inevitable. 

I have given some thought to what you suggest.

 

As I have said before, I can't see Mr. Wong or Mr. Lee from China, or Mr. Patel or Mr. Singh from India, meeting a bar girl and planning to retire here, buying a condo, and perhaps a bar, prior to retirement.  It's just not going to happen.

 

A holiday to Pattaya was advertising Pattaya as a future retirement destination.  That advertisement is not so appealing now, even pre virus.

 

If what you suggest takes place, with property being purchased for mass tourism and daily rental, then Pattaya will become similar to Sihanoukville, minus the casinos, for now. 

 

Either way, it's not great for the Pattaya Property market.    

 

 

[Leaver]

3 minutes ago, HashBrownHarry said:

You do understand that there's Thai tourists, right?

 

Ever been to Jomtien beach on a long weekend / national holiday?

Are you saying it's the Thai's that will fuel the Pattaya property market into the future?  

[HashBrownHarry]

1 minute ago, Leaver said:

Are you saying it's the Thai's that will fuel the Pattaya property market into the future?  

 

Perhaps more than western expat, yes. 

 

Why not?

 

You see a lot of the big condo buildings with hardly any lights on in the nights, who do you think owns a lot of them?

[Ron jeremy]

5 minutes ago, HashBrownHarry said:

 

Perhaps more than western expat, yes. 

 

Why not?

 

You see a lot of the big condo buildings with hardly any lights on in the nights, who do you think owns a lot of them?

Probably unsold? That's why the lights are off, more than 100,000 unsold condos in Bangkok pattaya areas.

[HashBrownHarry]

1 minute ago, Ron jeremy said:

Probably unsold? That's why the lights are off, more than 100,000 unsold condos in Bangkok pattaya areas.

Wrong

[bwpage3]

On 4/26/2020 at 12:21 PM, thaitero said:

Think again,,

When all this coronastuff is over people will think what countries/cities were one of the safest places on the earth,,

Those countries/cities will be the places to live and spend extended holidays,,????

Completely wrong.

 

Do you even remotely believe Thailand has any idea of how many actual cases?

 

They don't. 

[newnative]

52 minutes ago, HashBrownHarry said:

 

Perhaps more than western expat, yes. 

 

Why not?

 

You see a lot of the big condo buildings with hardly any lights on in the nights, who do you think owns a lot of them?

    Correct.  Probably a majority of the condos at Lumpini Park Beach are owned by Bangkokians.  The project where I owned a condo on Wong Amat beach had many wealthy Bangkok owners--as do other high-end projects along the beach there.    

[newnative]

51 minutes ago, Ron jeremy said:

Probably unsold? That's why the lights are off, more than 100,000 unsold condos in Bangkok pattaya areas.

Maybe the new and newer projects--especially the low-rise theme park ones--but not the older ones--many have condos owned by Bangkokians. 

[HashBrownHarry]

9 minutes ago, newnative said:

Maybe the new and newer projects--especially the low-rise theme park ones--but not the older ones--many have condos owned by Bangkokians. 

Correct.

 

To give you an idea of the wealth rich Thais have here's an example.

 

Few years ago near Sun, Sand and Sea ( i think ) resort kinda opposite Nong Nooch gardens there was an upscale moo baan, very fancy. I went in just to be nosey, the properties right on the beach started at 150,000,000THB, i asked the rep who was buying these and she said wealthy Bangkokonians as a 'holiday home' and that maybe they would use them once or twice a year!

 

I got back on my honda wave and bought mama on the way home, to rich for me!

[kinyara]

57 minutes ago, Leaver said:

I have given some thought to what you suggest.

 

As I have said before, I can't see Mr. Wong or Mr. Lee from China, or Mr. Patel or Mr. Singh from India, meeting a bar girl and planning to retire here, buying a condo, and perhaps a bar, prior to retirement.  It's just not going to happen.

 

A holiday to Pattaya was advertising Pattaya as a future retirement destination.  That advertisement is not so appealing now, even pre virus.

 

If what you suggest takes place, with property being purchased for mass tourism and daily rental, then Pattaya will become similar to Sihanoukville, minus the casinos, for now. 

 

Either way, it's not great for the Pattaya Property market.    

 

 

I think it's Sihanoukville that has become like Pattaya if you exclude the casinos. A previously quiet beach location subjected to an uncontrolled building boom without an infrastructure to keep pace with the development. It will just take a bit longer for the Chinese to complete the demographic takeover. Historically visiting tourists have spawned businesses catering to them from their own countrymen, who then settle and buy property etc, I don't see the Chinese being any different. 

 

Developers and realtors don't care who they sell to but the thought of living in a more Chinese dominant city doesn't appeal to me, Pattaya's always managed to keep a nice balance of nationalities in the past. 

 

I'm hoping I might get another 10 years here before it's totally over developed and they ruin Jomtien. If the market does indeed have a temporary slowdown I'll be more than happy.  Be interesting to see the progress or otherwise of that mega project left side of Thappraya as you head up the hill out of Pattaya before the lights to Pratumnak. Will it continue and who are the buyers? 

[newnative]

57 minutes ago, HashBrownHarry said:

Correct.

 

To give you an idea of the wealth rich Thais have here's an example.

 

Few years ago near Sun, Sand and Sea ( i think ) resort kinda opposite Nong Nooch gardens there was an upscale moo baan, very fancy. I went in just to be nosey, the properties right on the beach started at 150,000,000THB, i asked the rep who was buying these and she said wealthy Bangkokonians as a 'holiday home' and that maybe they would use them once or twice a year!

 

I got back on my honda wave and bought mama on the way home, to rich for me!

Nice story.  Too rich for me, too!

[Leaver]

2 hours ago, Ron jeremy said:

more than 100,000 unsold condos in Bangkok pattaya areas.

A bubble.  

[jimmybcool]

1 hour ago, HashBrownHarry said:

Correct.

 

To give you an idea of the wealth rich Thais have here's an example.

 

Few years ago near Sun, Sand and Sea ( i think ) resort kinda opposite Nong Nooch gardens there was an upscale moo baan, very fancy. I went in just to be nosey, the properties right on the beach started at 150,000,000THB, i asked the rep who was buying these and she said wealthy Bangkokonians as a 'holiday home' and that maybe they would use them once or twice a year!

 

I got back on my honda wave and bought mama on the way home, to rich for me!

 

Oh man.  Memories.  I wish there was a mama cart here.  Or any of the street food carts.  I do miss that.

[Leaver]

2 hours ago, HashBrownHarry said:

I went in just to be nosey, the properties right on the beach started at 150,000,000THB, i asked the rep who was buying these and she said wealthy Bangkokonians as a 'holiday home' and that maybe they would use them once or twice a year!

And you believed it.  ????

[HashBrownHarry]

7 hours ago, Leaver said:

And you believed it.  ????

yes, why not?

 

Unlike you i'm not a pessimist and this the end of the world is about to happen, most of your comments are very negative about life. I see one member suggested you contact the samaritins which i think is a great idea.

 

 

[jacko45k]

10 hours ago, Leaver said:

Are you saying it's the Thai's that will fuel the Pattaya property market into the future?  

I can see them being a component. They will scoop up the bargains.

[Ron jeremy]

Excuse me I was wrong, just googled it. At the end of 2019 there were 25,000 unsold condos in pattaya and 100,000 in Bangkok.

so it's 125,000 , not 100k . I stand corrected

[pattayadude]

On 4/27/2020 at 12:26 PM, newnative said:

 On the bright side you haven't been throwing rent money out the window for 14 years.  The money you've saved on rent has probably about paid for the condo.  Pat yourself on the back. 

on the same token, he also could have bought a house for investment for example in Los Angeles 14 years ago, the rent revenue would have already paid the initial investment by now and with the appreciation in home prices, he would quadruple  his investment today or sell and walk away with over $1Million of net profit

Edited May 2, 2020 by pattayadude

[Rimmer]

A personal attack and a reply have been removed

[Phulublub]

46 minutes ago, pattayadude said:

on the same token, he also could have bought a house for investment for example in Los Angeles 14 years ago, the rent revenue would have already paid the initial investment by now and with the appreciation in home prices, he would quadruple  his investment today or sell and walk away with over $1Million of net profit

Anyone can cherrypick data tofit an agenda.  What if you had bought in Flint? 

 

Or Fairbourne?

 

https://www.theguardian.com/environment/2019/may/18/this-is-a-wake-up-call-the-villagers-who-could-be-britains-first-climate-refugees

 

Closer to home, if one had bought land where Third Road is now...or more recently down the old "bumpy road"(332)?

 

Hindsight is a wonderful thing!

 

PH

 

[newnative]

1 hour ago, HashBrownHarry said:

yes, why not?

 

Unlike you i'm not a pessimist and this the end of the world is about to happen, most of your comments are very negative about life. I see one member suggested you contact the samaritins which i think is a great idea.

 

 

     I've learned to ignore this poster.  This is a good example of why.  You posted that you went to look at a very high-end project with homes priced at around 150MB, according to the sales person, who also said most of the buyers were from Bangkok and would only use the beach homes a few times a year.  This guy immediately responds with the sarcastic 'And you believed it'.  

     First, I don't know why you wouldn't have believed it because it's true.  I could give several examples along the same vein.  One Bangkok family owned one of the entire floors of the Wong Amat beachfront project where I used to live.  That's seven condos each valued around 13MB.  The family members visited a few times a year.  Several of the older, very expensive beachfront condos in Wong Amat have some famous Bangkok owners who rarely visit.  These high-end condos--and also homes--are scattered all around Pattaya--there's one in Pratamnuk right on the beach with just 2 condos on each floor.  I could see it from my balcony when I lived near it and there was rarely more than a few lights on at night.  Bangkok owners mostly, with the condos in the family for years and passed on to the next generation.

      This negative poster should take some time to look at Think of Living and Locanation videos to get some idea of what is being built for the super-rich, before he make an ill-informed comment.   Check some of the very expensive housing  developments where the homes are, indeed, 150MB or more.  Or, maybe check some of the very high-end condo projects like 98 Wireless, with some condos priced at 200 to 226MB and the cheapest  2 bedroom is 77MB.  Or maybe Magnolias, slightly more affordable at around 150MB.  

[newnative]

1 hour ago, pattayadude said:

on the same token, he also could have bought a house for investment for example in Los Angeles 14 years ago, the rent revenue would have already paid the initial investment by now and with the appreciation in home prices, he would quadruple  his investment today or sell and walk away with over $1Million of net profit

    Coulda, woulda, shoulda.  I'm not talking about investment, which he could have also been doing along with buying a condo.    I'm talking about putting a roof over your head, either through renting or buying--unless you want to pitch a tent on the beach, which has been closed, by the way.    So, if he's been here for 14 years and has owned, at least he still has something to show for his money, rather than 14 years of throwing the rent money out the window.  You say the rent money in LA would have paid for his initial investment.  Probably the same here or close to it with the rent money he has saved over 14 years.  No, the condo here wouldn't have appreciated as much.  But, it is still worth something and he still has that roof over his head, rent-free, with very reasonable condo fees and utilities here.  Push comes to shove, he likely will never be homeless, not a small thing.  But, by all means rent if that is preferred. 

[Central Pattaya]

32 minutes ago, newnative said:

I've learned to ignore this poster.  This is a good example of why.  You posted that you went to look at a very high-end project with homes priced at around 150MB, according to the sales person, who also said most of the buyers were from Bangkok and would only use the beach homes a few times a year.  This guy immediately responds with the sarcastic 'And you believed it'.   

 

It is becoming worrying with his erratic behavior, the tell tale signs of a sociopath. What concerns me is in this unprecedented time that mind set will get worse and become completely unhinged and either harm himself or worst still someone else. He claims to live alone by choice, I would say that no one in their right mind would want to live with someone like that, I know I certainly wouldn't.

Yes their are some extremely expensive property in and around Pattaya. Land has increased by astronomical amounts over the past 20 years to a point of almost beyond affordability especially beach front. Land tends to not go down in price much overall here just up and up, if/when the Chinese return it will be back to the land grab as it was pre-covid, it has already started around south Pattaya Jomtien especially the Ban Amphur area where there is much more land for sale the Chinese have bought up a lot in that area alone pushing the prices up more and more.

 

[jacko45k]

52 minutes ago, newnative said:

Push comes to shove, he likely will never be homeless, not a small thing.  But, by all means rent if that is preferred. 

I always like to offset this with the argument one cannot take it with you to the grave. A person coming to retire in Thailand with perhaps 8mil baht and a small pension really should not be buying. Rents are low here, and new condos overpriced. For a 5mil condo I could save the cash and pay rent for 35 years.

Edited May 2, 2020 by jacko45k

[HashBrownHarry]

50 minutes ago, newnative said:

    Coulda, woulda, shoulda.  I'm not talking about investment, which he could have also been doing along with buying a condo.    I'm talking about putting a roof over your head, either through renting or buying--unless you want to pitch a tent on the beach, which has been closed, by the way.    So, if he's been here for 14 years and has owned, at least he still has something to show for his money, rather than 14 years of throwing the rent money out the window.  You say the rent money in LA would have paid for his initial investment.  Probably the same here or close to it with the rent money he has saved over 14 years.  No, the condo here wouldn't have appreciated as much.  But, it is still worth something and he still has that roof over his head, rent-free, with very reasonable condo fees and utilities here.  Push comes to shove, he likely will never be homeless, not a small thing.  But, by all means rent if that is preferred. 

Very well said, i think his experience knowledge of Pattaya ( and Thailand ) is based around the bar scene.

 

People need to get out more.

[BritManToo]

52 minutes ago, newnative said:

    Coulda, woulda, shoulda.  I'm not talking about investment, which he could have also been doing along with buying a condo.    I'm talking about putting a roof over your head, either through renting or buying--unless you want to pitch a tent on the beach, which has been closed, by the way.    So, if he's been here for 14 years and has owned, at least he still has something to show for his money, rather than 14 years of throwing the rent money out the window.  You say the rent money in LA would have paid for his initial investment.  Probably the same here or close to it with the rent money he has saved over 14 years.  No, the condo here wouldn't have appreciated as much.  But, it is still worth something and he still has that roof over his head, rent-free, with very reasonable condo fees and utilities here.  Push comes to shove, he likely will never be homeless, not a small thing.  But, by all means rent if that is preferred. 

What if Thailand decides all foreigners should leave?

What if Thailand decides you need a significant bank deposit to get a VISA, and you spent all your money on a place you have no right to live?

What if a woman takes the property from you?

 

All significant worries for male buyers in many countries, which is not a problem if you only rent.

I wish I hadn't bought property here!

Edited May 2, 2020 by BritManToo

[jacko45k]

3 minutes ago, BritManToo said:

I wish I hadn't bought property here!

Yeah me too....not much chance of selling it, and once they get past 10 years old upkeep becomes expensive. Great loss of flexibility too.

Edited May 2, 2020 by jacko45k

[newnative]

44 minutes ago, jacko45k said:

I always like to offset this with the argument one cannot take it with you to the grave. A person coming to retire in Thailand with perhaps 8mil baht and a small pension really should not be buying. Rents are low here, and new condos overpriced. For a 5mil condo I could save the cash and pay rent for 35 years.

   Yes, I always make that exact same argument--you can't take it with you.  So, why not enjoy while you are here.  For me, that means owning my own space, because that gives me great enjoyment.  I can do whatever I want and I am not spending my precious remaining years sitting on the landlord's ratty sofa watching his bargain-basement 32 inch tv, looking at his likely lousy art.  But, as I always say, that's just me.  If renting is your thing, go for it.  There is no right or wrong answer and it's all multiple-choice.  

[HashBrownHarry]

1 hour ago, BritManToo said:

What if Thailand decides all foreigners should leave?

What if Thailand decides you need a significant bank deposit to get a VISA, and you spent all your money on a place you have no right to live?

What if a woman takes the property from you?

 

All significant worries for male buyers in many countries, which is not a problem if you only rent.

I wish I hadn't bought property here!

 A lot of 'what ifs' there, is that how you live your life, always in fear or expecting the worst?

[newnative]

1 hour ago, BritManToo said:

What if Thailand decides all foreigners should leave?

What if Thailand decides you need a significant bank deposit to get a VISA, and you spent all your money on a place you have no right to live?

What if a woman takes the property from you?

 

All significant worries for male buyers in many countries, which is not a problem if you only rent.

I wish I hadn't bought property here!

     A lot of 'what ifs'--none of which I spend any time worrying about.  Especially the last 'what if a woman takes the property from you?'.  If you're worried about that, definitely rent. 

     Instead, I look at what's real.  What's real is that with all the discussion on endless posts regarding supposedly draconian visa changes, for me, the only change in 10 years regarding my visa is I now have to keep my 800,000 baht in the bank for 3 months after I do my extension renewal.  I always just leave it there anyway year after year so no big deal.  That's my reality and not a 'what if'.