Hi, what is about the housing market in Pattaya?

[giddyup]

On 7/8/2022 at 3:49 PM, parafareno said:

what is the best site to search for houses? I would like a detached house

I saw many houses like 2months ago, were they all sold now when tourists are coming back?

Depends on what area you want to live. There are some older villages on the Dark Side that might have what you're looking for, but be expected to do a lot of fixing up. If you want to live in a village in the country 800K would easily buy or build a house.

[ukrules]

The houses around me haven't been selling for between 6 and 8 Million Baht for the last 4 or 5 years but they've been advertised at these rates and still are.

 

The going rate is 3.5 to 4 Million, eventually if they actually want to sell it then they will reduce the price otherwise they will never sell it.

 

The sellers are just as deluded as they were when the bought it, I know one of them paid double what the house was worth when they purchased it years back.

 

[Harsh Jones]

On 7/7/2022 at 11:30 PM, Sparktrader said:

Maybe rent first. Condos can go down in value.

Has condos gone down in the last 10 years ?

[parafareno]

1 hour ago, Harsh Jones said:

Has condos gone down in the last 10 years ?

how can you say condos will go down in value when we are on the urge of hyperinflation?

[marin]

21 hours ago, PJ71 said:

Sounds like a prison.

You have not been here long have you. The great majority of stand alone housing has the windows barred. I dont like it but have come to accept it. You dont lock your doors at night?

[PJ71]

1 hour ago, marin said:

You have not been here long have you. The great majority of stand alone housing has the windows barred. I dont like it but have come to accept it. You dont lock your doors at night?

I've been here very long.

 

Not all of us live in an urban jungle.

 

It's funny you ask about locking my doors, they don't even take keys, the doors at my house are never locked but i live pretty remotely.

 

I would not live somewhere if i felt bars and padlocks were needed - no thanks.

[marin]

10 minutes ago, PJ71 said:

Not all of us live in an urban jungle.

Please dont make assumptions where I live. 

 

I am happy that you live in a secure enough place you dont lock your doors. 

[Harsh Jones]

2 hours ago, parafareno said:

how can you say condos will go down in value when we are on the urge of hyperinflation?

Yeah that's what Im saying. I used to believe that we had a business/credit cycle and things that go up have to inevitably come down. But they just keep printing money. So nothing ever goes down. 

[jacko45k]

5 hours ago, Harsh Jones said:

Has condos gone down in the last 10 years ?

Sure...Covid drove both the rental and buying market down. (Certainly Pattaya area). 

Edited July 12, 2022 by jacko45k

[Harsh Jones]

8 hours ago, jacko45k said:

Sure...Covid drove both the rental and buying market down. (Certainly Pattaya area). 

So less rental and buying activity. But prices never went down did they..

[jacko45k]

7 hours ago, Harsh Jones said:

So less rental and buying activity. But prices never went down did they..

Rents certainly did.... and there were people selling off their condos in abstentia. I would be surprised if the second hand market did not fall somewhat. New builds, they always seem to be firm on price....

[parafareno]

18 hours ago, PJ71 said:

I've been here very long.

 

Not all of us live in an urban jungle.

 

It's funny you ask about locking my doors, they don't even take keys, the doors at my house are never locked but i live pretty remotely.

 

I would not live somewhere if i felt bars and padlocks were needed - no thanks.

that is normal in pattaya...having barred windows even in the village with security...who wants to live somewhere away from all the fun, you probably need few hours to get to the big city

[parafareno]

15 hours ago, jacko45k said:

Sure...Covid drove both the rental and buying market down. (Certainly Pattaya area). 

i thought some sell off...but now it seems to be back to normal...from internet listings....that is just my opinion because I am looking for a condo in pattaya because inflation will eat your money away...sooner or later...

if I would buy a house in pattaya 8 years ago for 1.5 million...semidetached in village....i could sell it today for over 2 mill I think....

 

[jacko45k]

1 minute ago, parafareno said:

that is normal in pattaya...having barred windows even in the village with security...who wants to live somewhere away from all the fun, you probably need few hours to get to the big city

Swings and roundabouts. As you get older the nightlife becomes less important, and a bit of peace and quiet becomes attractive. Who wants to live somewhere you are likely to be subjected to criminals? I'm a twenty minute drive from the city, but sometimes wish it was walking distance. 

[parafareno]

maybe people do not notice inflation in thailand...but everything goes up I think....so you are loosing money everyday....by keeping cash

and investing in stocks is a big fail... so is investing in metals...for not the market is really bad cause the morons printed huge ammounts of money and the public wil pay for it.....

 

[jacko45k]

4 minutes ago, parafareno said:

f I would buy a house in pattaya 8 years ago for 1.5 million...semidetached in village....i could sell it today for over 2 mill I think....

I am surrounded by houses that have been on the market for many years unsold, but they are a higher price bracket...I think the 2mil price is a sweet spot. Most houses are detached with small land around. 

[parafareno]

14 minutes ago, jacko45k said:

Swings and roundabouts. As you get older the nightlife becomes less important, and a bit of peace and quiet becomes attractive. Who wants to live somewhere you are likely to be subjected to criminals? I'm a twenty minute drive from the city, but sometimes wish it was walking distance. 

you are right....i am aproaching my 50 infew years...so I have few years to party....but in my old years I am definately looking for some remote living, having a house and garden with fruit trees..that is my dream....may I ask where is your location aproximately?

[jacko45k]

1 minute ago, parafareno said:

you are right....i am aproaching my 50 infew years...so I have few years to party....but in my old years I am definately looking for some remote living, having a house and garden with fruit trees..that is my dream....may I ask where is your location aproximately?

I am North of Pattaya, but I know many who live to the East, on what is known as the darkside who are happy over there. You obviously get a bit more bang for your buck out of the City and a bit of garden is usual. 

[Lucky Bones]

19 hours ago, PJ71 said:

I've been here very long.

 

Not all of us live in an urban jungle.

 

It's funny you ask about locking my doors, they don't even take keys, the doors at my house are never locked but i live pretty remotely.

 

I would not live somewhere if i felt bars and padlocks were needed - no thanks.

All it takes is one idiot to break into your house. 

Your security of family and thoughts may then change.

[lapswim]

When the Bank of Thailand follows other central banks and puts up interest rates it will be interesting to see the effect on house, condo and rural land prices. I suspect that lenders will be wary of risks, the risk premium and therefore lender margins will increase as well as the central bank discount rate and prices will hiccup in sales reliant on Thai bank financing such as Thai homes and small plots of rural land not attractive to Charoen Pokphand.  

Pattaya prices may rise as the Farang using developed country savings resume the retirement lifestyle with a temporary demand backlog due to Covid. The Chinese and Indian demand that is political. I cannot see tourism reaching previous levels with developed and emerging country debts, living costs and airfares rising, so I do not see rents taking off.

I think that most of the housing stock in Pattaya is obsolete, built of concrete or brick with high thermal mass, dark coloured roof tiles, oriented incorrectly to the sun, unshaded windows, no damp course, no radiant heat foil, no backyard small land area and asbestos. So taking the price/square metres of land and accelerated depreciation for the houses, buying looks less attractive.

In the condos there is really very poor build quality, ineffective condominium management and no space to swing the cat.

 

[PJ71]

4 hours ago, Lucky Bones said:

All it takes is one idiot to break into your house. 

Your security of family and thoughts may then change.

I'm not concerned about this happening.

[PJ71]

5 hours ago, parafareno said:

that is normal in pattaya...having barred windows even in the village with security...who wants to live somewhere away from all the fun, you probably need few hours to get to the big city

I have a condo in Pattaya if i feel the need for a few days to party.

 

You can have fun in any decent size town in Thailand, i've had some of my best nights out in places i would have least expected.

[1FinickyOne]

On 7/8/2022 at 11:50 AM, parafareno said:

10 years ago you

yeah, that can be a long time in housing markets... 10 years ago we built a pretty nice teak house for about 700,000

baht in the village.. not including the land.. 

[1FinickyOne]

8 hours ago, parafareno said:

and investing in stocks is a big fail.

a very recent phenomena... look at a long term chart.. there are ups and downs, but through time you are ok..

[Rdimbus]

On 7/9/2022 at 4:29 PM, Guderian said:

12+ years ago when I started looking for a house (having lived in condos for the previous 7 years), I was only interested in living on the Bright Side. I spent a lot of time travelling around seeing different agents and villages, but the cheapest house I saw then that met my needs (which weren't that demanding: 3 bedrooms, a farang kitchen, a reasonably quiet location but not too far from the fun, and access to a swimming pool, though not wanting a private pool) was 4.5 million Baht, and that one was way down in Baan Suan Lalana on Soi Chaiyapruek. I don't think house prices on the Bright Side have gone up much over the last decade, whereas they seem to have shot up in the right parts of the Dark Side. It makes me wish I'd spent the 7 million on a gaff out by Mabprachan rather than here near Thepprasit.

I know someone who recently bought a condo in Baan Suan Lalana, paid 1 mil ThB.  And there were lots more units for sale....lots more.   Buying a condo is easy, selling one no so easy. Especially if you want to break even.  This is a renter's market.   

[jacko45k]

18 hours ago, PJ71 said:

I'm not concerned about this happening.

Fortunate.

Me and Mrs have a place in a rural area and leave it empty a lot. She seems more concerned about kids/teenagers breaking  in and using the place than thieves per say. Sounds idyllic where you are.

[parafareno]

10 hours ago, Rdimbus said:

I know someone who recently bought a condo in Baan Suan Lalana, paid 1 mil ThB.  And there were lots more units for sale....lots more.   Buying a condo is easy, selling one no so easy. Especially if you want to break even.  This is a renter's market.   

ban suan lalana is the dump...they were selling condos for 1 million 10 years ago...the place is too crowded ...have no garage for bikes etc...

[carlyai]

On 7/8/2022 at 3:49 PM, parafareno said:

what is the best site to search for houses? I would like a detached house

I saw many houses like 2months ago, were they all sold now when tourists are coming back?

The best site or place to search is in the Sois behind Caddie Shack Soi 17. Called Suksabai Villa. Prices have crept up, but nice houses built there now and eventually the mess that was Eden will become a condo or houses.

[MadMuhammad]

On 7/13/2022 at 6:33 AM, parafareno said:

you are right....i am aproaching my 50 infew years...so I have few years to party....but in my old years I am definately looking for some remote living, having a house and garden with fruit trees..that is my dream....may I ask where is your location aproximately?

I’m only 44 but I’m certainly over the bar scene. I was I  Pratumnak then I bought a house with my wife in Huay Yai. Little bit of land, pool, decent garage, and only 25mins from LK Metro should it take my fancy. 
400m2 land, 145m2 3 bed, 3bath house 4.65m down from 7m. Best thing I’ve done since living in Thailand 

[parafareno]

13 minutes ago, MadMuhammad said:

I’m only 44 but I’m certainly over the bar scene. I was I  Pratumnak then I bought a house with my wife in Huay Yai. Little bit of land, pool, decent garage, and only 25mins from LK Metro should it take my fancy. 
400m2 land, 145m2 3 bed, 3bath house 4.65m down from 7m. Best thing I’ve done since living in Thailand 

did they lower the cost because of corona? i am afraid to buy something in wifes name....

Edited July 14, 2022 by parafareno