Who Has Bought or Sold Their Own Property In The Last Few Months?

[tangoll]

A Thai friend said her sister who owns a 130 sqm unit on 7th or 8th floor of Fullerton at Sukhumvit Ekkamai was given a firm offer of baht 18 million by a doctor from Bumrungrad Hospital. This unit cost the owner 11 million, but I don't know when it was bought, and the owner hasn't decided whether to sell the unit for that price, 18 million. This is an anecdote response to the question on mid-priced condos and how they're doing.

Asian Property will be launching their new 300 unit project on Sukhumvit at soi 28, with average price of 170,000 baht per sqm, lower floors 140,000 per sqm. And a lot of Thai buyers are chomping at the bit, lining up to get in on the launch, expected 8 Nov. How quickly the units are snapped up will be a good indicator of price resistance of buyers for condos in excellent location, convenient to BTS, etc.

[ray08]

A Thai friend said her sister who owns a 130 sqm unit on 7th or 8th floor of Fullerton at Sukhumvit Ekkamai was given a firm offer of baht 18 million by a doctor from Bumrungrad Hospital. This unit cost the owner 11 million, but I don't know when it was bought, and the owner hasn't decided whether to sell the unit for that price, 18 million. This is an anecdote response to the question on mid-priced condos and how they're doing.

Asian Property will be launching their new 300 unit project on Sukhumvit at soi 28, with average price of 170,000 baht per sqm, lower floors 140,000 per sqm. And a lot of Thai buyers are chomping at the bit, lining up to get in on the launch,

[wineaux]

Many opinions are offered on the state of the property market. May I add some facts?

I cycle very frequently within a 60 km sector centred on Pattaya, landwards.

All I see and have been seeing for the last three years, are a majority of semi completed projects,

seemingly abandoned, and FOR SALE signs, the incidence of well occupied, well maintained estates are

few and far between.

Yet no developer seems discouraged, any minimal plot will inevitably sprout whatever will fit.

As they will be using borrowed money and deposits I guess they won't lose out.

The builders trucks and concrete trucks continue to destroy the roads, and it is surprising to cycle 100m

without encountering piles of trash.

Am I in the appropriate forum ?

Perhaps the forlorn "Sails" skeleton portrays the situation as well as anything.

NO sales = No Sails.

Funny I live in Pattaya (East) and I seem to observe the complete opposite. Not sure about these uncompleted villages you speak of perhaps they are from the 97 crash? Everything I see seems to be selling well and is being completed.

[wineaux]

That Sails development you mention hasn't that been bought by large group to turn into a 5 Star Hotel and Condo? Movenpick I think.

[redman]

Many opinions are offered on the state of the property market. May I add some facts?

I cycle very frequently within a 60 km sector centred on Pattaya, landwards.

All I see and have been seeing for the last three years, are a majority of semi completed projects,

seemingly abandoned, and FOR SALE signs, the incidence of well occupied, well maintained estates are

few and far between.

Yet no developer seems discouraged, any minimal plot will inevitably sprout whatever will fit.

As they will be using borrowed money and deposits I guess they won't lose out.

The builders trucks and concrete trucks continue to destroy the roads, and it is surprising to cycle 100m

without encountering piles of trash.

Am I in the appropriate forum ?

Perhaps the forlorn "Sails" skeleton portrays the situation as well as anything.

NO sales = No Sails.

Funny I live in Pattaya (East) and I seem to observe the complete opposite. Not sure about these uncompleted villages you speak of perhaps they are from the 97 crash? Everything I see seems to be selling well and is being completed.

I also live in East Pattaya and can only agree with desertrat and wonder where wineaux is looking. There are hundreds of unsold, new houses this side of Sukhumvit. Ask estate agents and vendors what is selling and you will see that the Pattaya market has been crap for over 2 years now. Or are you an agent?

[Pdaz]

My guess is he's a deluded agent.. Maybe he should buy himself a bicycle and pedal around the wilds of East Pattaya to see for himself.. There are so many desolate partly completed projects there now it's getting hard to tell which are relics from 97 and which are more recent disasters.. The cheap paint they use discolours and peels within barely a year so it's often imposible to judge the age of a structure... Dunno who is gonna buy all the solitary mansions surrounded by undeveloed/unsold plots ... Usually there is just an elaborate but decaying entrance gate a sleepy Somchai guard ( in the better developements ) and what remains of the sales office..

Guess before it didn't matter as there was a continual stream of love struck gulible farangs .. but they seem to drying up now...

[LennyW]

There is a difference between "ongoing" and "abandoned" projects, although they tend to look the same!! I know of only 1 that has been truly abandoned, dammned shame too because it is a nice spot.

[cclub75]

Or are you an agent?

It reminds me... The Matrix.

And indeed, the whole discussion about real estate in Thailand turns like The Matrix.

Will you take the red or the blue pill ?

[LennyW]

Why do so many people find it necessary to bash the developers and the real estate agents quite so often???? If it were not for the Agents and Developers.... We would all still be living in CAVES!!!!

[obsession]

Why do so many people find it necessary to bash the developers and the real estate agents quite so often???? If it were not for the Agents and Developers.... We would all still be living in CAVES!!!!

Its to stop others making a "misguided" investment. imho, thats more honourable than trumpeting a "dodgy" market or method of purchase ( in the case of houses). And imho, agents use various boardnames to talk up the market.

[richm7]

A Thai friend said her sister who owns a 130 sqm unit on 7th or 8th floor of Fullerton at Sukhumvit Ekkamai was given a firm offer of baht 18 million by a doctor from Bumrungrad Hospital. This unit cost the owner 11 million, but I don't know when it was bought, and the owner hasn't decided whether to sell the unit for that price, 18 million. This is an anecdote response to the question on mid-priced condos and how they're doing.

Asian Property will be launching their new 300 unit project on Sukhumvit at soi 28, with average price of 170,000 baht per sqm, lower floors 140,000 per sqm. And a lot of Thai buyers are chomping at the bit, lining up to get in on the launch,

You know, I hate this kind of post. I'm sure you think you are a very funny bloke Ray but it would help us all a little more if you would explain the joke, because you are the only one laughing. This seems a reasonable post from tangoll and certainly has the ring of accuracy about it to me. Do you think it is funny because you don't believe it or do you, like so many jealous 'wish they were owners" think it funny because they are prices you can't afford? Find me another desirable major capital anywhere with those kind of prices and I'll buy you a pint. Note I said disirable; Delhi doesn't count.

[quiksilva]

Why do so many people find it necessary to bash the developers and the real estate agents quite so often???? If it were not for the Agents and Developers.... We would all still be living in CAVES!!!!

Its to stop others making a "misguided" investment. imho, thats more honourable than trumpeting a "dodgy" market or method of purchase ( in the case of houses). And imho, agents use various boardnames to talk up the market.

lol thats a good one!

[beejoir]

I just bought a 90sqm apartment on the 19th floor near Central Chidlom, 3 meter high ceilings and bright, it only cost 3,700,000 and I'm pretty happy with it to be honest.

[tangoll]

beejoir, wow, that's some purchase. Mind telling us the name of building/project, approx. age, and any other details you wish to divulge.

Thanks.

[zorro1]

41,000 psqm? how old is it???

[think_too_mut]

Asian Property will be launching their new 300 unit project on Sukhumvit at soi 28, with average price of 170,000 baht per sqm, lower floors 140,000 per sqm. And a lot of Thai buyers are chomping at the bit, lining up to get in on the launch, expected 8 Nov. How quickly the units are snapped up will be a good indicator of price resistance of buyers for condos in excellent location, convenient to BTS, etc.

Since when is Sukhumvit any kind of a location to Thais? Most don't want to be seen there.

Or they listened to that ancdote where 11mil condo became 18 mil and the owner is still hesitating to sell?

Are you sure that 18 mil did not turn into 11 mil?

[ray08]

A Thai friend said her sister who owns a 130 sqm unit on 7th or 8th floor of Fullerton at Sukhumvit Ekkamai was given a firm offer of baht 18 million by a doctor from Bumrungrad Hospital. This unit cost the owner 11 million, but I don't know when it was bought, and the owner hasn't decided whether to sell the unit for that price, 18 million. This is an anecdote response to the question on mid-priced condos and how they're doing.

Asian Property will be launching their new 300 unit project on Sukhumvit at soi 28, with average price of 170,000 baht per sqm, lower floors 140,000 per sqm. And a lot of Thai buyers are chomping at the bit, lining up to get in on the launch,

You know, I hate this kind of post. I'm sure you think you are a very funny bloke Ray but it would help us all a little more if you would explain the joke, because you are the only one laughing. This seems a reasonable post from tangoll and certainly has the ring of accuracy about it to me. Do you think it is funny because you don't believe it or do you, like so many jealous 'wish they were owners" think it funny because they are prices you can't afford? Find me another desirable major capital anywhere with those kind of prices and I'll buy you a pint. Note I said disirable; Delhi doesn't count.

Forget the first part of buying at 11m and selling at 18m ,because no info there , but buyers in this period of time " Chomping at the bit and lining up to spend Thb 140psm to thb 170psm , is comical ,Do you read the business sections in the Post or Nation, very little confidence in the market, ",Buyers chomping at the Bits" I don't beleive even a Real Estate Agent would make such a bold statement

At thb 170psm have a look at any major city in Australia and with rate at thb 22, and property downturn , you will find many places , look at Domain.com or any Aussie website , after you look , you owe me a pint

Edited October 30, 2008 by ray08

[tangoll]

ray08, I would be pleased to buy you a pint, so that I can meet first hand what a real TV poster looks and acts like. Why do you presume that I should look at websites offering Aussie property? I have zero interest in buying or living there. I'll next be in Bangkok on 23 - 26 Nov and you can set a time and place of your choosing for your pint.

think-too-mut, I think there are a lot of Thai people who do, and want to, live in Sukhumvit area, maybe not right on Soi Cowboy or Nana Plaza area, but all up and down Sukkhumvit. I also said, Thai buyers are "chomping at the bit" waiting for the launch of AP's soi 28 project. I didn't say farang buyers. As I said, the info on the Fullerton unit is only what was told to me by a Thai friend, whose sister (also Thai) lives there, and the hopeful buyer (presumably Thai) is a doctor at Bumrungrad Hospital. I'm just repeating what was told to me, no desire or intent to obfuscate or skew the information. They're Thai people and they choose to live on Sukhumvit area, Ekamai.

[zorro1]

ray08, I would be pleased to buy you a pint, so that I can meet first hand what a real TV poster looks and acts like. Why do you presume that I should look at websites offering Aussie property? I have zero interest in buying or living there. I'll next be in Bangkok on 23 - 26 Nov and you can set a time and place of your choosing for your pint.

think-too-mut, I think there are a lot of Thai people who do, and want to, live in Sukhumvit area, maybe not right on Soi Cowboy or Nana Plaza area, but all up and down Sukkhumvit. I also said, Thai buyers are "chomping at the bit" waiting for the launch of AP's soi 28 project. I didn't say farang buyers. As I said, the info on the Fullerton unit is only what was told to me by a Thai friend, whose sister (also Thai) lives there, and the hopeful buyer (presumably Thai) is a doctor at Bumrungrad Hospital. I'm just repeating what was told to me, no desire or intent to obfuscate or skew the information. They're Thai people and they choose to live on Sukhumvit area, Ekamai.

You got the right idea. I enjoy reading Tink-t-muts posts however he has an extreme dislike of BKK, and Suk, maybe a bad experience late at night perhaps he prefers living in Penrith to George st so each to their own. And ray08 what were you thinking? why are you suggesting ozzie property on a Thai website?

Edited October 30, 2008 by zorro1

[ray08]

Hey boys ,before you gang up on me , i was replying to richm7 who said

"Find me another desirable major capital anywhere with those kind of prices and I'll buy you a pint. Note I said disirable; Delhi doesn't count"

Well one place is Australia ,surely it rates as desirable major capital , and at thb170 psm you will buy well.

[think_too_mut]

You got the right idea. I enjoy reading Tink-t-muts posts however he has an extreme dislike of BKK, and Suk, maybe a bad experience late at night perhaps he prefers living in Penrith to George st so each to their own.

Hahaha....that's good.

How about this: when describing someone to another persoin, you say "He is a real Bangkok lover, especially fond of Sukhumvit area".

It's telling, isn't it?

Almost like "He is a great lover of Oxford Street in Sydney".

As for Penrith and George street, I don't have the picture from my balcony in Sydney now (posted the view of Opera house, bridge and City several times here), this one may help you imagine what it might be - the leftmost yellow brick building, 18th floor.

[Colonel_Mustard]

Just bought (well put the deposit down for) a penthouse condo in Laguna, Phuket.

[yabaaaa]

Just bought (well put the deposit down for) a penthouse condo in Laguna, Phuket.

Please await your crucifixtion

[Livinginexile]

Very easy - in Thai subprime market.

I bought into it too.

But will never boast I did something clever.

My 2.4 mil pad (in Bang Na) is there to assure my wife and my child have a place to go if I die.

It's already too much of a city for them. So has been for me. We just bought it where she wanted it, nothing like Thong Lor or other desirable areas.

What would she do with a condo there? High levies and unsellable.

22.4 mil in Bang Na!! there's nothing out there

No wonder the guy is bitter...he got ripped off

[Livinginexile]

Very easy - in Thai subprime market.

I bought into it too.

But will never boast I did something clever.

My 2.4 mil pad (in Bang Na) is there to assure my wife and my child have a place to go if I die.

It's already too much of a city for them. So has been for me. We just bought it where she wanted it, nothing like Thong Lor or other desirable areas.

What would she do with a condo there? High levies and unsellable.

22.4 mil in Bang Na!! there's nothing out there

No wonder the guy is bitter...he got ripped off

Sorry...2.4 mil

"What would she do with a condo there?"

What would she do in Bum Na?

[think_too_mut]

Very easy - in Thai subprime market.

I bought into it too.

But will never boast I did something clever.

My 2.4 mil pad (in Bang Na) is there to assure my wife and my child have a place to go if I die.

It's already too much of a city for them. So has been for me. We just bought it where she wanted it, nothing like Thong Lor or other desirable areas.

What would she do with a condo there? High levies and unsellable.

22.4 mil in Bang Na!! there's nothing out there

No wonder the guy is bitter...he got ripped off

Sorry...2.4 mil

"What would she do with a condo there?"

What would she do in Bum Na?

Good question.

Only supermarkets, shopping malls one after another, best international schools and hospitals there.

Nothing like ground floor, in-house resemblance of Thermae, as in Trendy.

Right side of the airport and Siam Water Park, on the highway to Trat...clogged and featureless city avoided and all that for 30% of the Sukhumvit price.

At least, she won't be ashamed if her family comes to visit.

Next time when someone you know needs a Thai passport, tag along as they will have to come nowhere else than to Bang Na to get it. Have a look around while there...

Edited November 3, 2008 by think_too_mut

[zorro1]

errmmm where is everyone? Not a single sole any of your pics. looks like the project is a sellout, so there probably in all the shopping malls right . Dont you feel lonely ?

[think_too_mut]

errmmm where is everyone? Not a single sole any of your pics. looks like the project is a sellout, so there probably in all the shopping malls right . Dont you feel lonely ?

"sole"?

People missing in the pictures may have taken a day trip to Bangkok where world famous amenities like Kangaroo, Annies or Lolita's bars are explained to their parents, families and friends from overseas. Another highlight of the tour is to teach them how bar fine system works in regular go-go establishments. Advanced family members are then taught about Casanova and their offer.

Children are engaged in the "Sukhumvit lovers spotting" and "Guess age and weight difference" between farang male/Thai female couples on the Skytrain and the Emporium.

Rather, people who look at Bangkok as any other place, position their interests + convenience within it and ended up choosing this particular development, just started moving in, furniture trucks and tradesmen all around. Probably only 50 of over 1000 apartments had their occupants sleeping in...Ourselves, after 2 nights there, have left for Japan. The condo is sitting dormant and enduring all the banging and noise moving in and remodeling draws. Next year July it should be all settled.

Edited November 4, 2008 by think_too_mut

[zorro1]

I intentionally spelled sole that way because there is something fishy about it

[think_too_mut]

I intentionally spelled sole that way because there is something fishy about it

Perhaps, what might be bothering you is that someone bought a condo way too far from the go-go and sleeze areas, not even Skytrain reaches to there.

Or, is the stereotype spread the world over correct - if there is Bangkok, there must be some sex deviation associated with person who has anything to do with that city?

If someone is escaping the mold, you call it "fishy".