Home Owners In Pattaya

[yaketyak]

Of course one thing to factor into all of this is that Forkinhades has one big advantage... he has been happily living in LOS for years now . So whereas we Brits have maybe made more actual money from our properties which , if sold , could buy us a swish new condo in BKK business district , we have had to endure years of living in this boring country (i am referring to the UK in case of confusion) whereas Forkinhades has lived in Thailand. So you could argue convincingly that he is the richer one because his quality of life has it would seem , been very very high in a wonderful country.

So hats off to him .

One last thing i would like to comment on is that people i know have spent years and years saying they will not get on the property ladder yet because they are waiting for the crash. I really believe this will never happen . The worst that will happen is that the UK housing market will take one of its periodic pauses (and i think we are starting to see this right now) and everything will slow. Sellers will not reduce their prices but rather wait until they get what they want , or just sit tight until the market starts up again. Thus no crash, not even a fall, just stagnation for a year or two. Meanwhile those who have waited are still forking out rent (which is not cheap) monthy in month out , whereas if they bought they would be paying off their mortgage instead.

Moral here... if you want property buy it as soon as you can . This of course only applies to the UK , for Thailand i would still rent and wait until the situation becomes clearer or until the Thai authorities make it clearer and more easy for foreigners to own property which cannot be taken off them at a whim by a nationalistic government. Now if that happened property prices in Thailand , at least in tourist areas particularly Bangkok , would soar.

[highchol]

No regrets what so ever.

Bought first...lived in it, sold it 5 years later at 50% profit.

Bought No2 2 years ago still living in it.

Never owned either of them!

[Asianrider]

i think the decision to buy or own in Pattaya is very an individual one, but as a general rule i wouldn't tie up more money in Thailand than i could walk away. I would want to have enough money to still be solvent in my own country (England) or start again somewhere in Asia.

one comment i would make is that the websites of property agents are full of a lot of out of date listings that are not available, not updated

or just generic listings to make the agency look bigger.

further the prices listed are not representative always of what places are actually sold for. In UK there are free websites where you can check via postcodes what the genuine selling prices, not wishful pipe-dreams some owners hold on to !

[Forkinhades]

Its quite an easy answer really.

If you plan to live in thailand for more than 7 years, then buy is the best option, if not then just rent.

[larvidchr]

A unfortunate guy on my estate had to go home 1 month ago (health problem) brought his house 2 years ago 4,5 mill, sold last month 2,5 mill, no it is for sure not the time to sell, that said I dont see why people should regret buying a home here if that is what they wanted and knowing the risks involved, lots here on my estate are really happy, they know it is their last house and are not to concerned about the value going up or down.

My self i rent, i have stayed here 2 years, but I know that one day I wake up and the decision has been made and I want to relocate, se something new aso. I am happy with this even if I pay a lot of money in rent.

Even if you buy purely for investment hoping to make money on your home, chances are you will in the long run, not many places where property over time does not make money.

Bottom line we are all different and have different circs. as long as you are happy with your choise wonderfull.

Kind regards.

[allexx]

After buying 2 homes here in Pattaya and spending a decent amount of money getting them up to standard, wishing I never dumped my money into home ownership here in the first place.

Anyone else feel the same way ?

I bought 150 Twa,600 sqm, 1988 and build 7 apartments on it. Paid 3,2 million Baht incl.land.The invested money was back late 1997.Paid cash, no loans. So…..no regrets.

[suiging]

Home ownership for Farang is an emotive issue. The next couple of years will be rocky indeed, however, the core to property investment is always location and of course demand.

It's the Thai investors who are buying land like crazy around Patters not Johnny expat, so fingers crossed they might know something we don't in the longer term (they usually do).

All investment worries aside. When I was a kid, if I was lucky, I went in the school hols to a caravan in Wales. My kids have gone to the house in Pong. I froze my nut's off pretending I enjoyed the Irish Sea, and waited with mock anticipation for grease laden chips and an icecream. They ride horses at HSP, play golf, swim in the pool and eat in the many wonderful restaurants this place has to offer.

Pattaya property regrets ? Errrr no.

[solo siam]

Yes, buying a house here is pointless. The rent is so low that you are better off investing your cash elsewhere, i.e. stocks or real estate in another country, then rent here. Rent here is generally (way) under 1% (per month, and probably close to .5%, of the purchase price). Do the math. I would suggest elsewhere you could get over 2%.

Personally for myself I dislike renting, I am buying so that I can spend some money to decorate and install the things I would like to have in my home - like a nice kitchen, a home cinema room, nice lighting etc...

[Chopper]

i think the decision to buy or own in Pattaya is very an individual one, but as a general rule i wouldn't tie up more money in Thailand than i could walk away. I would want to have enough money to still be solvent in my own country (England) or start again somewhere in Asia.

one comment i would make is that the websites of property agents are full of a lot of out of date listings that are not available, not updated

or just generic listings to make the agency look bigger.

further the prices listed are not representative always of what places are actually sold for. In UK there are free websites where you can check via postcodes what the genuine selling prices, not wishful pipe-dreams some owners hold on to !

Asianrider, you make some good and valid points. That well used adage don't spend more than you can afford to lose. Moreover too many people burn their bridges in their home country which I think is a big mistake.

Your comment about 'the websites of property agents are full of a lot of out of date listings that are not available, not updated or just generic listings to make the agency look bigger' is spot on.

I am happy with the property investments that I have made here. There will always be a divided camp on those that choose to buy and those that choose to rent. Each to their own as long as they are happy.

[Prakanong]

And I don't agree at all 24 percent a year in rent returns is typical at all in western markets.

hear hear, a typical 2 bed flat in London, cost £200,000 rent = £750 per month

so whats the math on that Phil Conners???

A 2 bedroom in London for 750 quid a month rent - I think you have been away too long.

Last year I had a choice of moves after my last contract - Back to the UK just outside London or Singapore - I pay a whack rent in Singapore but London was going to be outrageous.

[jm49er1]

Happy I bought my condo. Since then, the dollar has crashed, and I would be very annoyed to have to pay the market rents for the same condo I own outright.

I agree with this viewpoint 100% - i bought my condo a little over a year ago when the dollar was trading close to 39 baht - now its around 34.50 - in 10 years who knows maybe 25 - as the exchange rates drops, it would have been impossible for me to afford the same Wong Amat beachside condo i now own - has the market dropped - don't know and really not important to me as i am very happy and don't want to move - i

[midas]

I cannot see things getting for about 18 months here, so its just a case of 'sitting'

The UK Market slumped for about 8 years, and now has been booming for 10 years, sustainable, i think not........

Why did you choose 18 months ................? In 18 months the chances are that

oil prices would be even higher still - particularly if US or Israel invades

Iran to thwart the nuclear issue. The visa situation ist likely to be any different either

in 18 months so I cant see what will trigger an improvement to the

Pattaya property market

[Jiu-Jitsu]

And I don't agree at all 24 percent a year in rent returns is typical at all in western markets.

hear hear, a typical 2 bed flat in London, cost £200,000 rent = £750 per month

so whats the math on that Phil Conners???

Those are not 'typical' figures for London. You be hard pushed to find a two bedroomed flat in London for £200k, other than an ex council flat.

The difference here, is that I bought a one bedroomed flat for £140k a couple of years ago and receive in excess of £800 monthly plus Council Tax. There hasn't been a single month where it has not been occupied.

People can bandy potential figures around all day, but you've got to get someone to pay them.

Flat in the same block is now being sold for £180k.

[Jiu-Jitsu]

Of course one thing to factor into all of this is that Forkinhades has one big advantage... he has been happily living in LOS for years now . So whereas we Brits have maybe made more actual money from our properties which , if sold , could buy us a swish new condo in BKK business district , we have had to endure years of living in this boring country (i am referring to the UK in case of confusion) whereas Forkinhades has lived in Thailand. So you could argue convincingly that he is the richer one because his quality of life has it would seem , been very very high in a wonderful country.

So hats off to him .

Of course, there is also the option of drawing an income from property in the UK and using that to live abroad. You could hardly do that with the average two bedroomed flat in Bangkok/Pattaya.

[Humphrey Bear]

Of course, there is also the option of drawing an income from property in the UK and using that to live abroad. You could hardly do that with the average two bedroomed flat in Bangkok/Pattaya.

Part of my income is derived in that way - after agent's fees and bank transfr charges I get GBP 600 per month (paid half-yearly to lower the tx fee) so approaching ha-sip muen baht per yaar. Enough to show the authorities if I need a married-person visa. Or I could sell the place for 300k and use the interest - which is double the receivables on the rent.

But in a year or so I want to take my family to UK and expose them to the local culture (I live in Cambridge, so it's not too bad - thousands of students of all nationalities in a population of 100,000) and see where they prefer to live.

[pattaya_girl]

I am the same as luckydog. bought a house here 7 years ago, paid a million for it. i am still here - no regrets. My company tax costs about 18 thousand a year, its ok.

[booman]

After buying 2 homes here in Pattaya and spending a decent amount of money getting them up to standard, wishing I never dumped my money into home ownership here in the first place.

Anyone else feel the same way ?

I'm pretty happy with mine, I treat it as an ever continuous upgrade experiment though, just bought a pool. I let y'all know how it works out.

[Chopper]

I see a real oversupply of condo's in Jomtien, what do members think about the prospects of the new View Talay 6 in central Pattaya next to the Police Station. I have watched this being built at high speed, but unlike all the other VT buildings this is one of the few condo buildings in central Pattaya .

[tropo]

After buying 2 homes here in Pattaya and spending a decent amount of money getting them up to standard, wishing I never dumped my money into home ownership here in the first place.

Anyone else feel the same way ?

My landlord has dumped over GBP 400,000 into real estate in Pattaya over the last 3 years and he's a basket case. It's the biggest mistake in his life. He's still renovating, so he has no choice but to see it through.