There seems to be a large price range for the type of condo I am looking for ie one bed 35-45 sq m and it would seem I could get away with 1.3 m and if i want to i can pay 3 m . Now I understand age, thai only registration, facilities, view, location can effect the price by 30%. However, I cannot find an explanation why i can buy a one bed condo with pool and gym for 1.3 m yet another condo which only looks a little better is listed at 3 m...Am I missing something ? is the 1.3 m condo made of match sticks? or is it just the person asking 3 M lives in LA LA land

Comes down to the usual; location, location, location. And for some, living in fantasy land.

Well, you named the main ones, age, location, view, facilities. Add on top 

- maintenance record: what do you need to do, before you can move in; can you actually USE pool and gym or is everything broken / not maintained

- quality of furniture/equipment: old <deleted> or new; equipment like washing machine, stove, micro...

 

And finally: Desperation of seller: This alone can make a HUGE difference. 

Offer 1 million on the 1.3 ones. It's a buyer's market for Pattaya condos on steroids. Maybe they'll throw in a vaccination.

Newer condos are always more expensive if good location and quality, more in demand for renting. Older condos are better value, just buy one well maintained

If you look at condominium sales websites you can get a good overview about what is the rough medium price per sqm in each building. I.e. here:

https://www.fazwaz.com/property-for-sale/thailand/chon-buri/pattaya

 

And it seems in every building there are exceptions. It seems some people want a lot more than average and very few accept less. Maybe with a good reason but maybe not.

 

And then there are those condos which had inhabitants which left the place over the balcony and not the front door. Some of them will be cheap because nobody local would buy them. Maybe that is no problem for you. But be aware that lots of girls wouldn't like to visit you and the ghosts.

Go and view a few. There's a big difference between one in an old run down building, no facilities miles from anywhere and a new one packed with goodies right near the beach. A reasonable 40 sq m condo in a decent location should be around 1.5 - 2.0m.

Take a look at https://www.bahtsold.com/ 

I would normally recommend you take a look late at night, but all the bars are closed just to see if you can hear load music

    Pattaya project prices are generally determined by, in descending order:  Location, view, building quality, building amenities, building age, building maintenance, building unit numbers and sizes, building reputation, unit floorplans, and intangibles. 

   Within a project itself, price is generally determined by view, unit location in the building, floor level of the unit, unit maintenance and appearance, foreign quota status, unit floorplan and size, unit uniqueness, balcony size, and unit quality and age of: furnishings, appliances, kitchen cabinets, bath size and fixtures, wallcoverings and drapes, lighting, and artwork.

    One example.  Projects A, B, and C are all located in north Pattaya.  They are quite close to each other so area location is about the same.  But, A and B are either on Beach Road or just off it and C is back a bit further.  A and B are highrises of about 30 stories and C is around 12 stories.  All are older developments, built between 1993 and 2006.  A is the newest, B the oldest, and C in between, built in 2000.  A and B have 200 and 350 units, C has 69.

    Using Hipflat, price per square meter at A is 110,000 baht.  B is 63,000 baht.  C is 55,000 baht.  Why is A twice as expensive as C when they are literally across a soi from each other and only 6 years apart in age?  The answer lies in all the things I listed in my first paragraph.  

    Within a project it's generally the same story.  Sticking with Project A, there is a low floor unit listed on Hipflat for about 6.5MB.  There is a same size unit on a much higher floor for 8.5MB.  From the photos, the interiors seem fairly comparable.  So, the main difference in price is the much better sea view and foreign quota of the higher-priced unit. 

    

5 hours ago, ChipButty said:

Take a look at https://www.bahtsold.com/ 

I would normally recommend you take a look late at night, but all the bars are closed just to see if you can hear load music

We use to live in a condo near the go kart track off Thepprasit.  Could hear the karaoke bars out in the middle of nowhere until 6am or so many nights.

9 hours ago, Jingthing said:

Offer 1 million on the 1.3 ones. It's a buyer's market for Pattaya condos on steroids. Maybe they'll throw in a vaccination.

 

But seriously.......It cost you zero baht to make a offer......Just offer what you want to pay and see what happens......If your not in a hurry a fish will bite if you put in enough offers.....

7 hours ago, OneMoreFarang said:

If you look at condominium sales websites you can get a good overview about what is the rough medium price per sqm in each building. I.e. here:

https://www.fazwaz.com/property-for-sale/thailand/chon-buri/pattaya

 

And it seems in every building there are exceptions. It seems some people want a lot more than average and very few accept less. Maybe with a good reason but maybe not.

 

And then there are those condos which had inhabitants which left the place over the balcony and not the front door. Some of them will be cheap because nobody local would buy them. Maybe that is no problem for you. But be aware that lots of girls wouldn't like to visit you and the ghosts.

 

Don't go by that web-site. It's rubbish.

I entered in all the facts and it valued my house at 33 million Baht.

It's worth nowhere near that amount.

You don't say what your age is but I'll assume you are old enough to be retired and want to live in Pattaya because of the weather, the beach, a love of Thai culture, a love of Thai food, and a love of Thai women.

 

What is your plan for the condo?  Is it something you want temporarily or something to hold onto until the end?  If it is where you expect to spend the rest of your life then invest enough that you are comfortable over a long time period.  A 35 m² condo is pretty small.  It may look roomy enough when you first visit but the longer you live in one the smaller and smaller it gets.  Go for a larger condo and you will be more comfortable over time.  As was mentioned, look for a condo location where you will have peace and quite vs one where you will have to put up with noisy bars and parties - being close to a place like Soi 6 isn't worth it at midnight. 

 

What about transportation?  Will you have a motorcycle or a car or will you be dependent on taxis or songthaews?  What about parking if you have a motorcycle or car?  If you will depend on songthaews make sure you are within reasonable walking distance to one of the routes, and accept that they will only get you part way to many locations.

 

What will happen to your condo when you pass away, as we all do in the end?  Make sure you have a valid will specifying what to do with your assets in Thailand when you pass away.  Make sure your heirs have copies.  Make sure your attorney keeps a copy and is to be notified FIRST when you pass away - his being first on the scene will reduce the loss of worldly goods  due to sticky fingers of others called to the scene. 

 

Make sure your will specifies what is to be done with your body or your embassy is likely to step in and greatly complicate things, and make things much more expensive.  For a USA citizen if you die intestate the US government will take charge of the body, insist on an autopsy, and contact your heirs for instructions.  If you don't have any heirs in your will they will try to find some and contact them.  If your heirs fail to give instructions your body may be shipped back to the US and your heirs charged for that.

 

Do you have heirs that will want the condo, either for living in or vacationing?  If you leave it to your heirs then whether or not they want to keep the condo your heirs will have the problem of inheriting it under Thai law.  This may require one or more trips to Thailand courts by your heirs or giving a lawyer the power of attorney and a considerable fee for taking care of securing the inheritance in the Thai courts and making the sale. 

 

If you or your heirs want to sell the condo and take the proceeds out of the country you or they will have another problem - getting the proceeds of the sale out of Thailand.  Make sure that money from overseas is properly transferred to a Thailand bank for the purchase and that you keep proper bank records of that transfer.  Should you or your heirs ever sell the condo the only way to repatriate the proceeds of that sale is if you have the proper records that the money came from overseas.  If you bring it from another county without the proper records of that transfer then you or your heirs are screwed since you can't legally repatriate the money according to Thai law.

Possibly as much as 50% less within the next three years or so. The shake up from all this craziness is going to be seismic here. 

 

Anyone contemplating buying now, should have a rethink. Unless they are alresdy offering 40% off last years prices. With this current market, you are better off renting for a year or two, and waiting for things to correct. They will. Demand is down to near zero on condos. I have been told this by a girlfriend of a close friend, who is a serior executive with one of Thailand's top three developers. She said they cannot sell any condos in this climate, nor lease anything commercial. They have trimmed their staff by 90%, and put the brakes on all 100 projects. Even the ones being built. 

Edited June 15, 20215 yr by spidermike007

27 minutes ago, HarrySeaman said:

You don't say what your age is but I'll assume you are old enough to be retired and want to live in Pattaya because of the weather, the beach, a love of Thai culture, a love of Thai food, and a love of Thai women.

 

What is your plan for the condo?  Is it something you want temporarily or something to hold onto until the end?  If it is where you expect to spend the rest of your life then invest enough that you are comfortable over a long time period.  A 35 m² condo is pretty small.  It may look roomy enough when you first visit but the longer you live in one the smaller and smaller it gets.  Go for a larger condo and you will be more comfortable over time.  As was mentioned, look for a condo location where you will have peace and quite vs one where you will have to put up with noisy bars and parties - being close to a place like Soi 6 isn't worth it at midnight. 

 

What about transportation?  Will you have a motorcycle or a car or will you be dependent on taxis or songthaews?  What about parking if you have a motorcycle or car?  If you will depend on songthaews make sure you are within reasonable walking distance to one of the routes, and accept that they will only get you part way to many locations.

 

What will happen to your condo when you pass away, as we all do in the end?  Make sure you have a valid will specifying what to do with your assets in Thailand when you pass away.  Make sure your heirs have copies.  Make sure your attorney keeps a copy and is to be notified FIRST when you pass away - his being first on the scene will reduce the loss of worldly goods  due to sticky fingers of others called to the scene. 

 

Make sure your will specifies what is to be done with your body or your embassy is likely to step in and greatly complicate things, and make things much more expensive.  For a USA citizen if you die intestate the US government will take charge of the body, insist on an autopsy, and contact your heirs for instructions.  If you don't have any heirs in your will they will try to find some and contact them.  If your heirs fail to give instructions your body may be shipped back to the US and your heirs charged for that.

 

Do you have heirs that will want the condo, either for living in or vacationing?  If you leave it to your heirs then whether or not they want to keep the condo your heirs will have the problem of inheriting it under Thai law.  This may require one or more trips to Thailand courts by your heirs or giving a lawyer the power of attorney and a considerable fee for taking care of securing the inheritance in the Thai courts and making the sale. 

 

If you or your heirs want to sell the condo and take the proceeds out of the country you or they will have another problem - getting the proceeds of the sale out of Thailand.  Make sure that money from overseas is properly transferred to a Thailand bank for the purchase and that you keep proper bank records of that transfer.  Should you or your heirs ever sell the condo the only way to repatriate the proceeds of that sale is if you have the proper records that the money came from overseas.  If you bring it from another county without the proper records of that transfer then you or your heirs are screwed since you can't legally repatriate the money according to Thai law.

60% of your comment is about dying and what happens then. Why should he care too much about that? He will be dead at that time.

25 minutes ago, spidermike007 said:

Possibly as much as 50% less within the next three years or so. The shake up from all this craziness is going to be seismic here. 

 

Anyone contemplating buying now, should have a rethink. Unless they are alresdy offering 40% off last years prices. With this current market, you are better off renting for a year or two, and waiting for things to correct. They will. Demand is down to near zero on condos. I have been told this by a girlfriend of a close friend, who is a serior executive with one of Thailand's top three developers. She said they cannot sell any condos in this climate, nor lease anything commercial. They have trimmed their staff by 90%, and put the brakes on all 100 projects. Even the ones being built. 

I don't know if your prediction is wrong or right. But it seems to me too many predictions by foreigners in Thailand are based on logic. And that logic just does not exist in Thailand. Maybe a farang in a farang company in a faran country would come to the conclusion which you describe. But that is absolutely no reason to assume Thais in Thailand will come to a similar conclusion. TiT.

1 hour ago, HarrySeaman said:

What will happen to your condo when you pass away, as we all do in the end? 

Why would anyone care what happens to their stuff after they die?

 

Ask your woman what plans she is making for you to live if she dies first!

Answer is always none.

Edited June 15, 20215 yr by BritManToo

2 hours ago, redwood1 said:

 

But seriously.......It cost you zero baht to make a offer......Just offer what you want to pay and see what happens......If your not in a hurry a fish will bite if you put in enough offers.....

I agree, if you're not embarrased by your first offer then it's too much.

1 hour ago, BritManToo said:

Why would anyone care what happens to their stuff after they die?

 

Ask your woman what plans she is making for you to live if she dies first!

Answer is always none.

That's silly... you are usually much more practical...

 

I want my niece and wife to inherit my money.. why would I not be concerned about this?

 

None sure. My wife knows that I do not need anything I have given to her and the family - it is of no consequence... 

there is a disparity in prices because there is no rational market as you know it... 

 

people put whatever price on it that they want... it is only when people are forced to sell or are very motivated that actual market factors come into play... 

2 hours ago, spidermike007 said:

She said they cannot sell any condos in this climate,

Sure, climate change - Patts will be underwater in 20 years or less... 

15 hours ago, Salerno said:

Comes down to the usual; location, location, location. And for some, living in fantasy land.

Or older buildings Thais want NEW

Google and browse through ddproperty and hipflat listings.   900k Baht studios to X0,, penthouses.

7 hours ago, spidermike007 said:

I have been told this by a girlfriend of a close friend, who is a serior executive

 The typical pro insider knowledge????

You never can only look at the price.
In my condo, there are some sellers, which put a price which they never can sell... But a few of them really not want to sell. They only put in to sell for that price is, that if any stupid pay this price, they are happy to search a new one for their children.

If nobody buy, then this is the assets which will be for their children.

Some Thais which I hear, they don't really care to sell... they say if can sell for a good price then OK else I keep it.

Especially with the small fees you have to pay for property tax.