Hi, what is about the housing market in Pattaya?

[kinyara]

1 hour ago, The Hammer2021 said:

You watch you tube not reality

The new buildings I'm referring to are all priced at 100k+ baht per sqm. as are 2 of the biggest ones currently under construction. 

[The Hammer2021]

20 minutes ago, kinyara said:

The new buildings I'm referring to are all priced at 100k+ baht per sqm. as are 2 of the biggest ones currently under construction. 

On you tube?

[kinyara]

40 minutes ago, The Hammer2021 said:

On you tube?

On the developers websites and advertising as well as property agents. Grand Solaire, Riviera, Copacabana. I think the Edge was similarly priced. 

[The Hammer2021]

22 minutes ago, kinyara said:

On the developers websites and advertising as well as property agents. Grand Solaire, Riviera, Copacabana. I think the Edge was similarly priced. 

Good luck. Personally I would never buy off plan, or anything at the  first asking price.

My friend bought a beautiful 96sq metre place in Pratumnak for 2 million reduced from 4.....Because he was  here..

[parafareno]

1 hour ago, The Hammer2021 said:

Good luck. Personally I would never buy off plan, or anything at the  first asking price.

My friend bought a beautiful 96sq metre place in Pratumnak for 2 million reduced from 4.....Because he was  here..

when? When covid hit?

[The Hammer2021]

21 minutes ago, parafareno said:

when? When covid hit?

Covid wasn't the issue it was the personal circumstances of the seller

Also in the same block a Thai bought  one for 2.5 mil via sealed auction bid at municipality to pay defaulted  back taxes

[The Hammer2021]

Just now, The Hammer2021 said:

Covid wasn't the issue it was the personal circumstances of the seller

Also in the same block a Thai bought  one for 2.5 mil via sealed auction bid at municipality to pay defaulted  back taxes

There are some lovely  solid build places around Pratumnak and all the places empty completed just before covid

[The Hammer2021]

I checked out one with sea view and city  view two  big balconies 80 sq Mt for 3 mil  All perfectly!! 1970s original  retro  styling

[The Hammer2021]

Just now, The Hammer2021 said:

I checked out one with sea view and city  view two  big balconies 80 sq Mt for 3 mil  All perfectly!! 1970s original  retro  styling

Nothing beats being here...driving around looking for for sale signs or the  notice boards at malls etc

[parafareno]

13 minutes ago, The Hammer2021 said:

Nothing beats being here...driving around looking for for sale signs or the  notice boards at malls etc

coming in 1 month, so you are saying negotiate negotiate....but i was never lucky in that....

my max is 2 million for 50-60 sq meters....or bigger....

it is just weird that somebody would drop from 4 to 2 million just like that....does not make sense to me...do you know which condo...was the seller running from the law?

 

Edited July 28, 2022 by parafareno

[The Hammer2021]

29 minutes ago, parafareno said:

coming in 1 month, so you are saying negotiate negotiate....but i was never lucky in that....

my max is 2 million for 50-60 sq meters....or bigger....

it is just weird that somebody would drop from 4 to 2 million just like that....does not make sense to me...do you know which condo...was the seller running from the law?

 

Yes I know the condo no he was  not running  from the law he was a very rich  irresponsible alcoholic who got  bored.

No! I do not say  bargain bargain..I say look look look

Look around the noticeboard at foodmart Jomtien

The notice  board in Big C pattaya Klang

The magazine  Pattaya  trader

the Pattaya  newspaper pattaya..?

near me is a 40/45 square mt condo with great pool and sea  view in Pratumnak the best area.. but there are dozens  around  here.The best deals are private notices as I have described in my opinion. You need a condo  with good management and juristic person. Along the beach front from yim Yom  Beach to dongtan there are places going reduced...

[parafareno]

56 minutes ago, The Hammer2021 said:

Yes I know the condo no he was  not running  from the law he was a very rich  irresponsible alcoholic who got  bored.

No! I do not say  bargain bargain..I say look look look

Look around the noticeboard at foodmart Jomtien

The notice  board in Big C pattaya Klang

The magazine  Pattaya  trader

the Pattaya  newspaper pattaya..?

near me is a 40/45 square mt condo with great pool and sea  view in Pratumnak the best area.. but there are dozens  around  here.The best deals are private notices as I have described in my opinion. You need a condo  with good management and juristic person. Along the beach front from yim Yom  Beach to dongtan there are places going reduced...

can you pm me with some deals you find? THe one 45 sq m...trust me when i come there i will be crawling all the places to find a condo or a house

[scubascuba3]

Pratumnak is definitely a good area to get bargains, if you go for the lesser known names you can find bargains. Check facebook marketplace, once you know the condos you like you can go and see, alternatively ride around the streets and see which locations and condos you like.

 

Bigger older condos you may get cheaper but expect big maintenance in the future, new lifts, etc etc

[newnative]

11 hours ago, kinyara said:

On the developers websites and advertising as well as property agents. Grand Solaire, Riviera, Copacabana. I think the Edge was similarly priced. 

     One of the projects in your post, recently finished, had pre-construction pricing of 180,000 baht a sqm.  I remember posting at the time that I couldn't make the numbers work.  Ideally, you want to buy low with pre-construction and hope the price rises after the project is finished.  For example, we bought pre-construction at The Base for about 89,000 baht a sqm.  We rented the condo for a year at 25,000 baht a month and then sold it, getting about 121,000 baht a sqm.   Buy low, hopefully sell higher.

     With the project in your post, buyers were buying very high and hoping the price would go even higher.  That doesn't seem to be the case, at least for now.  Hipflat has the current average price dropping from 180,000 to 159,000 a sqm.  

    I do think the pricing on some of the new projects  is way too high--certainly too high to interest me.  Were I looking, I'd rather buy a seaview condo in a well-managed older project, with a smaller number of larger-sized units, in a prime location.  I'd likely be in a project with more resident-owners ( a good thing), more long-term rather than short-term renters (also good), and far fewer illegal daily renters (great).  

      

[kinyara]

22 minutes ago, newnative said:

     One of the projects in your post, recently finished, had pre-construction pricing of 180,000 baht a sqm.  I remember posting at the time that I couldn't make the numbers work.  Ideally, you want to buy low with pre-construction and hope the price rises after the project is finished.  For example, we bought pre-construction at The Base for about 89,000 baht a sqm.  We rented the condo for a year at 25,000 baht a month and then sold it, getting about 121,000 baht a sqm.   Buy low, hopefully sell higher.

     With the project in your post, buyers were buying very high and hoping the price would go even higher.  That doesn't seem to be the case, at least for now.  Hipflat has the current average price dropping from 180,000 to 159,000 a sqm.  

    I do think the pricing on some of the new projects  is way too high--certainly too high to interest me.  Were I looking, I'd rather buy a seaview condo in a well-managed older project, with a smaller number of larger-sized units, in a prime location.  I'd likely be in a project with more resident-owners ( a good thing), more long-term rather than short-term renters (also good), and far fewer illegal daily renters (great).  

      

All very salient points that I would agree with. The reason I took a look was out of curiosity more than anything as a single guy purely thinking ahead to future years when I would want to sell my own unit, ( 127 sqm's bought at 30k per sqm new ), to release the funds. Go rental for my remaining years. On the places mentioned I think you'd currently be on the right side of the equation if you were a renter rather than the buyer, but the small size to rent price still seems expensive to me.

 

Other than not having a seaview, my place matches all the points in your last paragraph which is why I value and enjoy living there. 

[newnative]

4 hours ago, kinyara said:

All very salient points that I would agree with. The reason I took a look was out of curiosity more than anything as a single guy purely thinking ahead to future years when I would want to sell my own unit, ( 127 sqm's bought at 30k per sqm new ), to release the funds. Go rental for my remaining years. On the places mentioned I think you'd currently be on the right side of the equation if you were a renter rather than the buyer, but the small size to rent price still seems expensive to me.

 

Other than not having a seaview, my place matches all the points in your last paragraph which is why I value and enjoy living there. 

It's always fun to look.  

[newnative]

21 hours ago, sitta said:

Once Pattaya one bed room condo for 4,300,000 THB  Elite visa included, still under construction, good value?

      I don't think there is a 'one size fits all' answer.  Nor, should there be.   It wouldn't be good value for me because I don't need or want an Elite visa.  Nor do I want to live in that particular area.  Nor do I want to buy a 1 bedroom condo to live in.  Nor am I looking to buy a 1 bedroom condo as an investment to rent out.   For someone else with a different set of wants and needs, perhaps it might be.   

     

[Sparktrader]

On 7/9/2022 at 8:02 PM, marin said:

Where please? I asked you in a previous post and you did not answer. Size and amenities as well. Where on the dark side?

Is Darf Vader there?

[Harsh Jones]

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

Maybe rent first. Condos can go down in value.

Not if the banking authorities keep printing money and extending credit. Even with covid, did the price of condos fall ?

[PJ71]

On 7/29/2022 at 5:27 AM, scubascuba3 said:

Bigger older condos you may get cheaper but expect big maintenance in the future, new lifts, etc etc

If it's run properly the annual fees should cover this, right?

[scubascuba3]

1 hour ago, PJ71 said:

If it's run properly the annual fees should cover this, right?

likely an old condo will have shortfalls, things not run perfectly so expect supplementary fees. Maybe if it's a condo with 1,000+ units they may have more money.

 

Many old condos just get run down as they can't raise the money 

[peterfranks]

3 hours ago, Harsh Jones said:

Not if the banking authorities keep printing money and extending credit. Even with covid, did the price of condos fall ?

A better question would be, did sales continue as usual, because we all know how Thai economics 101 work in regard to pricing.

[newnative]

3 hours ago, PJ71 said:

If it's run properly the annual fees should cover this, right?

     It depends on the project.  Always important to check the financials and the sinking fund, which is meant to help with big repairs.   Check how the property is being maintained.  The last condo I owned was in an upscale, older project with less than 200 units, mostly larger than the condos in newer projects.  We had a special assessment each year because the condo fee was inadequate to maintain the project to the high standard the owners wanted.  The owners, including me, we're happy to pay as it maintained our property investment.   With some condo projects, the owners care more about keeping the condo fee low, even if the project is not very well-maintained.  Important to investigate before buying.

[GypsyT]

I've been looking for VT5 and VT7 on Dongtan beach. I like to walk and there isn't many places with decent walk ways. That's why I like Jomtien / Dongtan area.

 

I hate typical (cheap) condo; long room with one window at far end. I want two windows on opposite sides to get cross ventilation. Does it exist for less than $ 150 000?

Where do I get it for less than $ 80 000?

Thanks!

[spidermike007]

May be best to rent for now. It is a good renters market. I think a major correction is long overdue, worldwide. It is already starting in the US. Prices here will likely drop significantly, once the helium begins leaking from the over inflated balloon. 

[scubascuba3]

1 hour ago, GypsyT said:

I've been looking for VT5 and VT7 on Dongtan beach. I like to walk and there isn't many places with decent walk ways. That's why I like Jomtien / Dongtan area.

 

I hate typical (cheap) condo; long room with one window at far end. I want two windows on opposite sides to get cross ventilation. Does it exist for less than $ 150 000?

Where do I get it for less than $ 80 000?

Thanks!

If you don't want that typical long slim room with a balcony at the end then you need a more modern design. Maybe check the new condo almost finished on Pratumnak Soi 5, look at Soi 4 also. More modern condos generally cost more but in your price range should be ok

Edited August 2, 2022 by scubascuba3

[jacko45k]

23 hours ago, Harsh Jones said:

Not if the banking authorities keep printing money and extending credit. Even with covid, did the price of condos fall ?

I believe so.... there were quite a few sellers trying to  offload and limited buyers.... rents could certainly be bargained down. I believe it has turned now....

[GypsyT]

12 hours ago, scubascuba3 said:

If you don't want that typical long slim room with a balcony at the end then you need a more modern design. Maybe check the new condo almost finished on Pratumnak Soi 5, look at Soi 4 also. More modern condos generally cost more but in your price range should be ok

Thanks, but I checked out that area. Lots of dogs and homeless in bushes... Poor walkways for pedestrians and ugliest condo buildings in Pattaya! That was a surprise because they were built by Scandinavians... And although I'm not a beach person that tiny beach with suicide stairs is a joke.

The night market is 80% Russian w Russian prices.

Really, didn't see a single good thing for me.

 

But you advice to look for "more modern" design is a good one. Makes sense.

 

[scubascuba3]

40 minutes ago, GypsyT said:

Thanks, but I checked out that area. Lots of dogs and homeless in bushes... Poor walkways for pedestrians and ugliest condo buildings in Pattaya! That was a surprise because they were built by Scandinavians... And although I'm not a beach person that tiny beach with suicide stairs is a joke.

The night market is 80% Russian w Russian prices.

Really, didn't see a single good thing for me.

 

But you advice to look for "more modern" design is a good one. Makes sense.

 

Check Pratumnak or Cosy beach area you may like that. I prefer Pratumnak to jomtien, but dogs are everywhere except Central Pattaya

[carlyai]

1 hour ago, scubascuba3 said:

Check Pratumnak or Cosy beach area you may like that. I prefer Pratumnak to jomtien, but dogs are everywhere except Central Pattaya

No dogs in Suksabai Villa. Have a look close behind The Caddie Shack. Nice houses or could be.