Pattaya – fighting to survive its Covid crisis

[Leaver]

On 11/6/2020 at 5:14 AM, thaibeachlovers said:

Last time I went to Pattaya, before corona, Soi 7 and 8 were not doing well. I doubt corona is entirely to blame for the closure. Probably finished it off though.

Buakhao is where the action moved to.

Pre covid, it was like musical chairs for cheaper rent here. 

 

Just as gogo's opened up on LK Metro for cheaper rent away from Walking Street, many bars opened up on Soi Baukhao. 

 

When covid is finished, Thai landlords will again go back to raising rents to amounts that businesses can not sustain, causing them to move, however, there will be no dreamers to start a new lease for many years to come.          

[thaibeachlovers]

13 hours ago, Leaver said:

Pre covid, it was like musical chairs for cheaper rent here. 

 

Just as gogo's opened up on LK Metro for cheaper rent away from Walking Street, many bars opened up on Soi Baukhao. 

 

When covid is finished, Thai landlords will again go back to raising rents to amounts that businesses can not sustain, causing them to move, however, there will be no dreamers to start a new lease for many years to come.          

 

Pre covid, it was like musical chairs ............................ here. 

 

For decades farangs would buy bars, fail and sell them to another newbie farang. I guess the music has stopped now, and the ones that bought bars are all looking for a seat without success.

[Leaver]

On 11/8/2020 at 6:07 AM, thaibeachlovers said:

I guess the music has stopped now, and the ones that bought bars are all looking for a seat without success.

Correct.  

 

Many current business owners will have to take the loss.    

[thaibeachlovers]

5 hours ago, Leaver said:

Correct.  

 

Many current business owners will have to take the loss.    

Many of them were minting it by exploiting foreign men wanting some "Luuuuuve". If they thought it would go on forever, they were shortsighted. Everyone should save for the inevitable rainy day.

[jomtienisgood]

On 11/13/2020 at 5:26 AM, thaibeachlovers said:

Many of them were minting it by exploiting foreign men wanting some "Luuuuuve". If they thought it would go on forever, they were shortsighted. Everyone should save for the inevitable rainy day.

Is that the day there won't be love anymore????

[Leaver]

On 11/14/2020 at 1:57 PM, jomtienisgood said:

Is that the day there won't be love anymore????

No, just no one around to pay for it.  ????

[HashBrownHarry]

On 11/13/2020 at 5:26 AM, thaibeachlovers said:

Many of them were minting it by exploiting foreign men wanting some "Luuuuuve". If they thought it would go on forever, they were shortsighted. Everyone should save for the inevitable rainy day.

Totally agree, a lot of the popular places in town have been making money hand over foot for 30 / 40 + years ( with little or zero re-investment ), where's all that money gone........spunked away playing the big man - no sympathy for a lot of them from me, very short sighted people.

[jacko45k]

On 11/8/2020 at 6:07 AM, thaibeachlovers said:

For decades farangs would buy bars, fail and sell them to another newbie farang. I guess the music has stopped now, and the ones that bought bars are all looking for a seat without success.

Yes, and each landlord stuffed his pocket with the new rent advance, deposit and key money, and sat back as someone renovated his dilapidated property at their own expense..... and from that point the new owner slowly went down the plughole, or, unusually, did well and would be pressured for rental increases next year. If a renter moves on, rinse and repeat. Rinse being the operative word. I hope property owners are all feeling the pinch right now.

[thaibeachlovers]

On 11/25/2020 at 2:57 PM, jacko45k said:

Yes, and each landlord stuffed his pocket with the new rent advance, deposit and key money, and sat back as someone renovated his dilapidated property at their own expense..... and from that point the new owner slowly went down the plughole, or, unusually, did well and would be pressured for rental increases next year. If a renter moves on, rinse and repeat. Rinse being the operative word. I hope property owners are all feeling the pinch right now.

While I feel sorry for all the lo so Thais that went to Pattaya to try and better themselves, I wish that all the business people that exploited THEM, as well as the farangs, go bankrupt and lose it all. That would be justice IMO.

[Leaver]

On 11/25/2020 at 8:57 AM, jacko45k said:

Yes, and each landlord stuffed his pocket with the new rent advance, deposit and key money, and sat back as someone renovated his dilapidated property at their own expense..... and from that point the new owner slowly went down the plughole, or, unusually, did well and would be pressured for rental increases next year. If a renter moves on, rinse and repeat. Rinse being the operative word. I hope property owners are all feeling the pinch right now.

It's those property owners that have presided over Pattaya slowly outpricing itself when compared to its competition in Thailand, and in the region.  

 

All those high rents, and rent increases, are passed onto the consumer, which includes tourists.