Worst Joke Ever 2024

[klikster]

There is so much talk about the down turn in the market and I have seen it first hand myself.

I am interested to know who has actually sold a property in the last few months. I dont want to hear from the agents as that is not the point of the thread. Ive been in real estate here for a long time and I KNOW, things are more than slow in Phuket.

Interested to hear from the sellers please. Property type, location and price.

I have a beautiful house in Bang Saray. Since the Thai Government announced that they were going to investigate all the tricky dicky Thai Corps opened by Gooofs like me, I totally expect nothing but the worst from the Thai's. All my friends have their homes set up the same way, some have millions of USD in Thailand. If the Thai's dont steal the property, you can be assured they are going to HORSE F_ _ K out of thousands, tens of thousands of worthless USD. I have my home for sale 20K under what I paid for it two years ago, and not one looker!!!!!

Pardon .. where is Bang Saray? (sorry .. looked it up)

Edited July 21, 2007 by klikster

[eljeque]

I just sold a house in Pattaya. It has been on the market for one year.

2 bedroom, 2 bathroom, 103 square meters, 51 talangwah, 2.85 Million baht + 1/2 transfer fees (developer to foreign held company).

It is a friend's home which I have been looking after.

I have had it with more than one dozen agents offices, another dozen wandering agents, and also posted at Friendship Market and Carefour boards for one year.

The developer's current price, which has not moved in 1 1/2 years, is 2.521Million. This house has another 170,000 in inceased size(sq. meters) and includes the foreign company owning it.

The developer charges the byer 100% of the transfer charges = 100,000 baht. They have not sold any of their remaining houses in a long time.

The property is located west of Sukhumvit, near the land ofice, on Soi 17, opposite the Harley Br.

The buyer is from England, and has made one deposit of 100,000, an additional 150,000 in late September and a final payment in December.

The seller's response was, "It's a miracle."

Another seller has a few houses in the same development, and he will finance them, 20% down and 9% interest for up to 15 years. His hose does not have the same increases in size as the above house, but after one year, we have not received an offer yet. He is asking 2.6M, 2.5M less than the other house, and the diffences are small.

I am in the land office quite regularly for other purposes and see few foreigners. There are many Thais, although many of them are there to borrow against their land, and/or selling land. I do not see many foreigners buying houses or condos with companies, nor buying condos, but I have no statistics to verify; It is simply what I see.

The agents whom I know are having a terrible time.

[obsession]

Ive noticed on other forums as well as this one, that theres always a couple of newbies saying the market is buoyant and answering each other. Call me cynical or paranoid, but I reckon Ive sussed a few of them out as real estate agents on other forums and have my doubts about a couple of posts on here. Ive no idea why they would do it as the forums arent really influential. Desperation maybe.

[dsfbrit]

I just sold a house in Pattaya. It has been on the market for one year.

2 bedroom, 2 bathroom, 103 square meters, 51 talangwah, 2.85 Million baht + 1/2 transfer fees (developer to foreign held company).It is a friend's home which I have been looking after.

.

A House has been sold in Pattaya

I repeat - a house has been sold in Pattaya - hooray

Would you come around here and help the 9 or so farang to sell their house on our estate.

So the farang bought the company structure as well ?

If he did - did he say he was planning to keep the company structure - or was he married to a Thai and planning to move into her name?

Edited July 25, 2007 by dsfbrit

[bisop]

To sum up the market in Phuket I would say there is less supply with fewer projects and less demand as well.If you have a good property, well priced it will sell. There are still buyers coming here.

(BTW I am not an agent I am a developer)

[eljeque]

I just sold a house in Pattaya. It has been on the market for one year.

2 bedroom, 2 bathroom, 103 square meters, 51 talangwah, 2.85 Million baht + 1/2 transfer fees (developer to foreign held company).It is a friend's home which I have been looking after.

.

A House has been sold in Pattaya

I repeat - a house has been sold in Pattaya - hooray

Yes, it is quite unusual nowadays.

Would you come around here and help the 9 or so farang to sell their house on our estate.

NO, I won't as I am helping another friend sell his home as well.

So the farang bought the company structure as well ?

Yes, he did.

If he did - did he say he was planning to keep the company structure - or was he married to a Thai and planning to move into her name?

He is planning on keeping the company.

[maipleur]

I just sold my townhouse (just got the call, they had been mulling it over for 2 weeks)

It was sold for 2 mil and bought by a Thai person.

I paid 1 mil for it 2 years ago and spent about 300,000 on refurb, so not a huge profit, but a profit all the same.

I have 3 more small investment properties left and then I will become a renter for the duration of my stay, unless I find something really special in the condo market, that I can have in my ow name.

[oldhand]

There are still some foreigners buying houses but they are very few and far between. Some Condo's are doing okay but I don't think any of them are doing anything like what they were doing this time last year.

An example of one that got it right is AD Condo in Wongamart - they are about 95% sold out in 6 months and about 65% is thai. Shows what can happen when they price it right and put in payment schemes that are affordable to the Thais!

I am actually looking for two houses right now but both the buyers are Thai!

[MrSquigle]

Just sold a house in Bkk, around the 20 mil mark.

[steelepulse]

We bought 2 hong in kata (phuket) about 5 years ago for 1.2 , and have had a Thai lady pestering us to sell to to her for 5.5 . We're not going to sell as it will be a better investment to hold for another 1 or 2 years, build it out and then sell.

Seems to me good property in a good location will also sell.

[pkrv]

From The Trendy thread the condominium is now being handed over and final payments made. Logically speaking, several hundred have now just/will have bought/completed. The Park too will complete soon so an additional 219 units will shortly be bought/completed.

Edited October 3, 2007 by pkrv

[MrSquigle]

Logically, many other condos and houses around the entire country are aslo completing and ready to hand over, therefore, thousands of condos and houses are being sold every day....now does that make everyone feel better.

But the question is...did you pkrv...buy or sell one of them !!!!!

[pkrv]

Logically, many other condos and houses around the entire country are aslo completing and ready to hand over, therefore, thousands of condos and houses are being sold every day....now does that make everyone feel better.

But the question is...did you pkrv...buy or sell one of them !!!!!

Hi MrSquigle - I am on the reciveing end I am buying - I work in dealing room technology (ish) - not real esatate. I do not wish to sell just move in to my fab pad, sorry I seem to be dribbling (again ).

[MrSquigle]

'dealin room' is that a new phrase for 'boiler room' or perhaps a 'pokher den'

Anyway, what is the trendy like, was thinking to get a couple a couple of years ago, but never did, the design looked kind of 'not trendy' and a little 'daggy' actually to me. How are they inside and all ?

Also the name kind of turned me off, while it is not as off putting as 'the synchronised' it ain't far behind.

[pkrv]

'dealin room' is that a new phrase for 'boiler room' or perhaps a 'pokher den'

Hmmmmm an ancient term - Everything from hedge funds to custodian banks, some pension funds, commodity traders (and drinks manufactures) etc have one – it’s necessary to conduct business globally .

The Trendy is in the CBD and has come in for some stick in the past. Of all the projects it was possibly the most controversial, but has come through with flying colours. This bodes well for the future and other projects I think.

Edited October 5, 2007 by pkrv

[Jai Dee]

Can we please stick to discussing property sales and purchases in the last few months, as per the title of this thread?

[lannarebirth]

Last month I bought 2 parcels that were contiguous to some Sor Tor Kor titled land I already own. The parcels total 11 rai and cost a total of 390,00 Baht.

[lannarebirth]

Sold 6.25 rai today, 22 kms from Chiang Mai city center. 6.4 million

Edited July 12, 2008 by lannarebirth

[tangoll]

I sold and transferred one condo unit at Address@Siam, 84 sqm, 2 bed/2 bath, brand new, held by me about two months. I was original purchaser from developer at launch 1.5 years ago. Original purchase cost was 6.1 mil baht, sold for 7.25 mil baht to Chiang Rai family that needed a condo for their children to attend Chula Univ.

I have lived in and held for one year a condo unit at Baan Klang Krung Siam Patumwan, 81 sqm, 2 bed/2 bath, and just completed Sales and Purchase Agreement to sell the unit to a Thai family that needed a condo for their children attending Chula Univ. This unit was sold by developer at launch about 3 years for ago for 5.0 mil baht, I had bought on resale about 2 years ago for 6.3 mil baht, and my contracted sale price is 7.63 mil baht. I added eqpt (A/Cs, water heaters, washer, frig, curtain rods, shower door, etc) to make it livable.

I have since purchased on a resale a 61 sqm, 1 bed/1 bath condo unit in Noble Remix, at Sukhumvit/Thong Lor, for 6.0 mil baht, with expected transfer date May 2009. Original launch price of this unit was 5.0 mil baht.

I have also contracted to take over a 51 sqm, 1 bed/1 bath condo unit in Condo One X due for transfer in Oct 2008, for 4.1 mil baht, vs. original launch price of 3.9 mil baht about 1.5 years ago. I think original contract purchaser did not want to have to put up the final installment of 75% to complete the transfer with developer so had to bail out.

All sales figures given above are actual transaction figures.

[lardy]

Bought two condos in 2006 (May) then another in october and finally a 4th in May this year all for renting out. 2 in my name 2 in the wifes.

[Rimmer]

I just sold my villa in Jomtien, we made a sign with our telephone numbers on it and hung it outside the house.

My accountant did the transfer at the land office with me in attendance when the purchaser handed over the money.

[LtCol]

Well ,as a newbie that is trying to sell our Main property in Australia to retire in Pattaya & purchase a large house for that purpose , some posts are absolutely confusing with various info.

Simple Question 1: If we buy a 10,000,000Bht Detached house in Pattaya with a Thai Company included & we are both Farang , are we at risk???

Question 2: If that is so , why are several Realty Agents telling us it is Normal & Safe???

a couple of these agents have been living in Pattaya/Jomtien for many years , but , my wife is an Aussie Permanent Resident from Holland & I am thru & thru an Aussie albeit with strong US ties.

We have been travelling up & down to Thailand for 20 + years & love Pattaya . Has anyone got some fact please. I realise this is a bit of point ,BUT , we want to Buy , so it is on point to us.

[ray08]

Well ,as a newbie that is trying to sell our Main property in Australia to retire in Pattaya & purchase a large house for that purpose , some posts are absolutely confusing with various info.

Simple Question 1: If we buy a 10,000,000Bht Detached house in Pattaya with a Thai Company included & we are both Farang , are we at risk???

Question 2: If that is so , why are several Realty Agents telling us it is Normal & Safe???

a couple of these agents have been living in Pattaya/Jomtien for many years , but , my wife is an Aussie Permanent Resident from Holland & I am thru & thru an Aussie albeit with strong US ties.

We have been travelling up & down to Thailand for 20 + years & love Pattaya . Has anyone got some fact please. I realise this is a bit of point ,BUT , we want to Buy , so it is on point to us.

Lots of info on this forum about buying with Thai Company , answer to your questions

1 ) If a nominee Company , it is straight out illegal to even form company ,

2 ) Since when does one take legal advice from an agent ? ( or from Thaivisa )

better off to keep house Perth as market is down , and just Rent a house in Pattaya , all legal and safe , or if you

really want to sell , the only true way to buy is Condo with foreign quota

[donx]

Well ,as a newbie that is trying to sell our Main property in Australia to retire in Pattaya & purchase a large house for that purpose , some posts are absolutely confusing with various info.

Simple Question 1: If we buy a 10,000,000Bht Detached house in Pattaya with a Thai Company included & we are both Farang , are we at risk???

Simple Answer - Yes, unless the company you purchase is actually doing business and paying taxes.

Question 2: If that is so , why are several Realty Agents telling us it is Normal & Safe???

Because they can make more money from you than they can from a Thai couple.

a couple of these agents have been living in Pattaya/Jomtien for many years , but , my wife is an Aussie Permanent Resident from Holland & I am thru & thru an Aussie albeit with strong US ties.

We have been travelling up & down to Thailand for 20 + years & love Pattaya . Has anyone got some fact please. I realise this is a bit of point ,BUT , we want to Buy , so it is on point to us.

My answers above in red.

[donx]

I sold and transferred one condo unit at Address@Siam, 84 sqm, 2 bed/2 bath, brand new, held by me about two months. I was original purchaser from developer at launch 1.5 years ago. Original purchase cost was 6.1 mil baht, sold for 7.25 mil baht to Chiang Rai family that needed a condo for their children to attend Chula Univ.

I have lived in and held for one year a condo unit at Baan Klang Krung Siam Patumwan, 81 sqm, 2 bed/2 bath, and just completed Sales and Purchase Agreement to sell the unit to a Thai family that needed a condo for their children attending Chula Univ. This unit was sold by developer at launch about 3 years for ago for 5.0 mil baht, I had bought on resale about 2 years ago for 6.3 mil baht, and my contracted sale price is 7.63 mil baht. I added eqpt (A/Cs, water heaters, washer, frig, curtain rods, shower door, etc) to make it livable.

I have since purchased on a resale a 61 sqm, 1 bed/1 bath condo unit in Noble Remix, at Sukhumvit/Thong Lor, for 6.0 mil baht, with expected transfer date May 2009. Original launch price of this unit was 5.0 mil baht.

I have also contracted to take over a 51 sqm, 1 bed/1 bath condo unit in Condo One X due for transfer in Oct 2008, for 4.1 mil baht, vs. original launch price of 3.9 mil baht about 1.5 years ago. I think original contract purchaser did not want to have to put up the final installment of 75% to complete the transfer with developer so had to bail out.

All sales figures given above are actual transaction figures.

Thank you for the most informative and (I assume) honest post that I have read in a while. It gives me a pretty good view of how a sector of the real estate market has been doing in Bangkok in the last few years. I sincerely appreciate this type of information as I'm sure many others do.

[tangoll]

donx, thanks for your kind words. I realize that it's near impossible to get actual transaction data from even people in the real estate market, or even get data from Land Dept office, where the data they receive on transactions are skewed. Real estate agents only deal in asking prices and rarely do you find an agent that seems to know what's really going on in the market. However, the one single best piece of information that I got on the Bangkok condo market was from an agent, who said: "In this area (Patumwan/BTS Ratchethewi), there are many buyers from outside of Bangkok who want to buy someplace for their children who are attending the schools here (Chula, Mahidol Univs, etc), and they will pay up to 6 mil baht." My two sales transactions bear out that comment.

Now, I think the price of gasoline will cause many car owners who used to drive to work to alter their living/commuting habits. Not only the higher price of car fuel, but having to wait 2 - 3 hours to get a partial fill-up. Bangkok workers will want to get living quarters closer to town, convenient to public transportation (more the BTS than MRT), and because of overall higher unit cost, buyers need to stay in the smaller unit sizes (studios and 1 bedrooms) and keep the overall cost to around the 6 mil baht mark. Plus Thai buyers only want to buy something brand new or near new.

[pkrv]

Oh dear this is the thread where I got very annoyed as the freehold condominium market got confused with land and house ownership and I made 'somewhat strenuous attempts' to break the connection (because there is none).

There has been a lot of anecdotal evidence that sales of Thai property have heavily shifted towards the condominium market.

I obviously no longer comment on house/home ownership the differentiation of the two markets is now well documented and understood on this forum.

Transfers at The Trendy, The Manhattan, The Park and The Athenee are all either well underway or completed. Something like 1000 units in total I believe.

[lannarebirth]

Oh dear this is the thread where I got very annoyed as the freehold condominium market got confused with land and house ownership and I made 'somewhat strenuous attempts' to break the connection (because there is none).

There has been a lot of anecdotal evidence that sales of Thai property have heavily shifted towards the condominium market.

I obviously no longer comment on house/home ownership the differentiation of the two markets is now well documented and understood on this forum.

Transfers at The Trendy, The Manhattan, The Park and The Athenee are all either well underway or completed. Something like 1000 units in total I believe.

I have no idea what any of that means. Are you saying this is a thread for reporting condo sales only? It didn't start that way and why would you limit discussion to just one segment of the realestate market? There seem to be plenty of threads already discussing condos only.

[pkrv]

Oh dear this is the thread where I got very annoyed as the freehold condominium market got confused with land and house ownership and I made 'somewhat strenuous attempts' to break the connection (because there is none).

There has been a lot of anecdotal evidence that sales of Thai property have heavily shifted towards the condominium market.

I obviously no longer comment on house/home ownership the differentiation of the two markets is now well documented and understood on this forum.

Transfers at The Trendy, The Manhattan, The Park and The Athenee are all either well underway or completed. Something like 1000 units in total I believe.

I have no idea what any of that means. Are you saying this is a thread for reporting condo sales only? It didn't start that way and why would you limit discussion to just one segment of the realestate market? There seem to be plenty of threads already discussing condos only.

I understand - IMO we have moved on. I am literaly saying again IMO there is now no need for my previous concerns - things were IMO confused. It sort of came about because of the thread title, this is no longer relevant -we now all know the score. In a way it would have been better to split out the thread into condos and houses/land - we all know the market segments are utterly different, but have somehow been lumped together. Nothing more to it than that.

[ray08]

Oh dear this is the thread where I got very annoyed as the freehold condominium market got confused with land and house ownership and I made 'somewhat strenuous attempts' to break the connection (because there is none).

There has been a lot of anecdotal evidence that sales of Thai property have heavily shifted towards the condominium market.

I obviously no longer comment on house/home ownership the differentiation of the two markets is now well documented and understood on this forum.

Transfers at The Trendy, The Manhattan, The Park and The Athenee are all either well underway or completed. Something like 1000 units in total I believe.

Transfer of the the above 1000 or so units , would be a Sales snapshot of when contracts were exchanged , could go back a few years , so not a real indicator of who as purchased or sold in the last few months, What would now be intersting to see is the resale from the speculators on these places to indicate the current market price