Pattaya Property

[pattayadude]

4 minutes ago, Leaver said:

and the Chinese do to Pattaya what they did to Sihanoukville, which will send property through the roof, but then we can ll say good bye to living in Pattaya.  

I thought most already did!

 

I know of two friends who sold theirs for less than what they paid 6 years ago

Edited May 8, 2020 by pattayadude

[Leaver]

10 minutes ago, pattayadude said:

I thought most already did!

 

I know of two friends who sold theirs for less than what they paid 6 years ago

I know two rotation workers that both owned condo's here and sold them because of some visa changes some time ago.  No point owning if you can't stay in it.  They just wanted out of Thailand and also sold at a loss.  They now do their rotation in Vietnam.  

[bkk6060]

30 minutes ago, pattayadude said:

I thought most already did!

 

I know of two friends who sold theirs for less than what they paid 6 years ago

Yes.  This is more the truth then most will admit.  Their money sat in a depreciating property for several years. 

What a waste.

[pattayadude]

2 minutes ago, bkk6060 said:

Yes.  This is more the truth then most will admit.  Their money sat in a depreciating property for several years. 

What a waste.

yes, they are close friends and the honest type. one admitted to losing 30 percent

[scubascuba3]

8 minutes ago, pattayadude said:

yes, they are close friends and the honest type. one admitted to losing 30 percent

and they saved paying rent and did they gain on the exchange rate? you might find they made a profit

[pattayadude]

3 minutes ago, scubascuba3 said:

and they saved paying rent and did they gain on the exchange rate? you might find they made a profit

apparently baht was 32 against USD in 2014..same as today

[scubascuba3]

10 minutes ago, pattayadude said:

apparently baht was 32 against USD in 2014..same as today

Yes $ is about the same, many countries have weakened against the baht in that time, but you can't ignore the rent saved, neither stock market potential gains if invested instead of buying

[pattayadude]

1 minute ago, scubascuba3 said:

Yes $ is about the same, many countries have weakened against the baht in that time, but you can't ignore the rent saved, neither stock market potential gains if invested instead of buying

I understand your point. though off-topic,-this is to make my point-he could have bought a condo in Manila/Philippines(for example) in 2014 for the same amount which would have appreciated today over 30%(fact). Rent that one out and with the income, rent in Pattaya. 

He would be 60% ahead today..makes sense?

[HashBrownHarry]

1 hour ago, Leaver said:

Point is, with thousands of properties on the market here, pre virus, and so few buyers, pre virus, and they are still building more, how is it some on this forum can say the Pattaya property market is a healthy one, pre virus? (no pun intended)

 

One member said it's his home, with no intention of ever selling.  I get that. However, if you bought property here, and may want to sell it, or may need to sell it in the future, you will practically have to give it away, or be prepared to walk away.   

 

It appears to me, the best owners can hope for here is casinos are allowed, and the Chinese do to Pattaya what they did to Sihanoukville, which will send property through the roof, but then we can all say good bye to living in Pattaya.  

 

 

Who said it's a healthy market?

 

Personally i don't think any amount of casino's will make any difference to prices.

 

 

[Leaver]

11 minutes ago, HashBrownHarry said:

Who said it's a healthy market?

 

Personally i don't think any amount of casino's will make any difference to prices.

 

 

Some members on this thread seem to believe you can not lose on property here.  They seem to think the Pattaya property market works the same as in western countries.  

 

Obviously, you haven't been to Sihanoukville, and seen what the casinos and Chinese have done to property prices there.   

[HashBrownHarry]

2 minutes ago, Leaver said:

Some members on this thread seem to believe you can not lose on property here.  They seem to think the Pattaya property market works the same as in western countries.  

 

Obviously, you haven't been to Sihanoukville, and seen what the casinos and Chinese have done to property prices there.   

Pattaya is not Sihanoukvile, you're comparing apples to oranges.

[Leaver]

7 minutes ago, HashBrownHarry said:

Pattaya is not Sihanoukvile, you're comparing apples to oranges.

Do you think is can not / will not go in the same direction?

 

If it did, it would be great for property prices, but no westerns would want to live here anymore.  

[Pattaya46]

2 hours ago, pattayadude said:

I thought most already did!

I know of two friends who sold theirs for less than what they paid 6 years ago

In every country you will find a few people who bought the wrong condo at the wrong time in the wrong location, but that doesn't stop the majority of buyers selling at a profit 

 

PS: I should know; I made a profit twice in last 2 years ????

[Leaver]

1 hour ago, Pattaya46 said:

In every country you will find a few people who bought the wrong condo at the wrong time in the wrong location, but that doesn't stop the majority of buyers selling at a profit 

I wonder how much profit was made selling during the GFC.  

 

We are now looking at The Pattaya Financial Crisis.  

 

Edited May 8, 2020 by Leaver

[HashBrownHarry]

2 hours ago, Leaver said:

Do you think is can not / will not go in the same direction?

 

If it did, it would be great for property prices, but no westerns would want to live here anymore.  

No.

[HashBrownHarry]

35 minutes ago, Leaver said:

I wonder how much profit was made selling during the GFC.  

 

We are now looking at The Pattaya Financial Crisis.  

 

Pattaya financial crisis - too funny!@

[Leaver]

12 minutes ago, HashBrownHarry said:

No.

Why?  Do you think the Thai's are too proud?  ????

[HashBrownHarry]

1 minute ago, Leaver said:

Why?  Do you think the Thai's are too proud?  ????

No, i think there's too many laws ( and people ) that will be against it.

 

Not sure i'd call Thais proud but definatley patriotic.

[Leaver]

14 minutes ago, HashBrownHarry said:

Pattaya financial crisis - too funny!@

I suppose the food queues are funny to you also.  

[HashBrownHarry]

Just now, Leaver said:

I suppose the food queues are funny to you also.  

If you find that funny you're a horrible person, i find them very sad.

[Leaver]

20 minutes ago, HashBrownHarry said:

If you find that funny you're a horrible person, i find them very sad.

So do I, yet, you do not see any Pattaya Financial Crisis looming here.   

 

 

[plumberman123]

On 5/1/2020 at 2:17 PM, kinyara said:

 

That's my experience where I live as well, I think I'm in a good location and it's a well managed and maintained low rise development. Not many units come on the market but they seem to sell when they do and not for fire sale prices either. It's a different propositon to the huge developments with hundreds of shoe box units. 

 

 

keep believing that then. Nothing sells fast in Pattaya unless its cheap

 

thats a fact

[Pattaya46]

24 minutes ago, plumberman123 said:

keep believing that then. Nothing sells fast in Pattaya unless its cheap

thats a fact

It took me less than 2 month to sell my condo in December/January,

I consider that to be fast enough for a condo sale ????

 

And no need to sell cheap; Just a little above market price should do well.

 

BTS, so many tiny shoeboxes asking for way above their market value !

No surprise that they can find a buyer.

Edited May 8, 2020 by Pattaya46

[Leaver]

38 minutes ago, plumberman123 said:

keep believing that then. Nothing sells fast in Pattaya unless its cheap

 

thats a fact

It's  been a race to the bottom here for quite a while.  You can even see it with drink prices in the bars.  

[jimmybcool]

1 hour ago, plumberman123 said:

keep believing that then. Nothing sells fast in Pattaya unless its cheap

 

thats a fact

Define cheap.

[newnative]

2 hours ago, plumberman123 said:

keep believing that then. Nothing sells fast in Pattaya unless its cheap

 

thats a fact

    No, that's not a fact.  Higher end, high quality condos, especially those with a seaview, will often sell faster than the more numerous small, cheap, no-view condos with nothing special going for them.  Some that might buy one of these cheap condos often choose to rent, instead.  Those who are well-off are more likely to want to own their own space--and look for something special to buy.  Most of my Pattaya friends are financially comfortable and they all own--either condos or houses.  

[jacko45k]

15 hours ago, pattayadude said:

I thought most already did!

 

I know of two friends who sold theirs for less than what they paid 6 years ago

Bought at 53 baht/£ back then, when it is around 40 now? 

[HashBrownHarry]

9 hours ago, Leaver said:

It's  been a race to the bottom here for quite a while.  You can even see it with drink prices in the bars.  

All your comments are based around the bar scene, that's not the be all and end all of Pattaya.

 

Pattaya offers a lot more than than, you should get out more and experience it then you would appreciate the quiet times right now.

[pattayadude]

1 hour ago, jacko45k said:

Bought at 53 baht/£ back then, when it is around 40 now? 

sorry,i dont understand the question

[kinyara]

11 hours ago, plumberman123 said:

keep believing that then. Nothing sells fast in Pattaya unless its cheap

 

thats a fact

I don't claim to be an expert on the entire Pattaya property market but I do know the development I live in having been in since it was built 15 years ago. I also know the original prices, so have the factual knowledge to base my comments on. When I refer back to original square metre rates paid in my place compared to the cost of new developments being marketed now I can understand why there are so many vacancies. The old adage of making the money when you buy applies to Pattaya just as anywhere else. 

 

 

Edited May 9, 2020 by kinyara
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