Phuket rent market - WTF!!!

[MrJ2U]

On 5/13/2023 at 10:37 PM, ChasingTheSun said:

Lots of Russian money flooding Phuket now.

Definitely.

 

You'll have Russians pushing prices up there and in Pattaya. 

[xylophone]

It's not all bad news because a friend of mine has just rented a room in a small hotel in Patong at a cost of 300 baht per night, which is the cheapest I've ever heard of here.

 

Also on Facebook there appear to be some apartments and condos for rent around the 12 to 15,000 baht per month region, so all is not lost!

[4MyEgo]

On 5/14/2023 at 12:38 AM, MarkT63 said:

We rented a 4 bedroom villa in Sai Tan at the top of Boat Avenue for four years for 150K per month, both pre and post pandemic.

I think what your saying is you were previously paying 37,500 baht per month for your share of the monthly rent, i.e. there were (4) of you, which would make it worth the while.

 

That would be half the rent you would pay for a new one bedroom unit on Parramatta Road, Homebush in Sydney Australia.

 

Parramatta Road for those of you not familiar with the area has 6 lanes, 3 in each direction, so its a very busy road.

 

If the landlord is asking 350,000 baht a month now, he has heard that rents around the world have literally doubled because of the 10, if not more interest rises over the past year, and those landlords who couldn't afford to hang onto their investments, sold and most of the new owners who more than likely be tenants, therefore making rentals become scarce as the rental markets dry up, especially as is the case in Australia, with the government not charging stamp duty on purchases up to a certain amount, and then to scale, which makes it inviting, and those on the scale, can pay the stamp duty as an annual amount over xyz years.

 

[ronster]

In samui now there are several foreigners Russian and European and they are renting places from agents or owners and then subletting them for 2-3 times the price they would have cost to rent 1-2 year ago.
Then the new p**s take they add on is agent fee (5000bht) and you will struggle to find one that charges electric at government rate . They are asking 6-10bht a unit of electric !!

[Andycoops]

That's what you get in overrated, overpriced, run by the Mafia Phuket.

Which is why I haven't been back and have absolutely no intention of doing so.

Good luck.

[Andycoops]

That's what you get in overrated, overpriced, run by the Mafia Phuket.

Which is why I haven't been back and have absolutely no intention of doing so.

Good luck.

[ChasingTheSun]

23 minutes ago, Andycoops said:

That's what you get in overrated, overpriced, run by the Mafia Phuket.

Which is why I haven't been back and have absolutely no intention of doing so.

Good luck.

Please do share with us where is better than Phuket overall?

[geisha]

50 minutes ago, ronster said:

In samui now there are several foreigners Russian and European and they are renting places from agents or owners and then subletting them for 2-3 times the price they would have cost to rent 1-2 year ago.
Then the new p**s take they add on is agent fee (5000bht) and you will struggle to find one that charges electric at government rate . They are asking 6-10bht a unit of electric !!

Very common the sub letting between Russians , phuket and Pattaya.

[ronster]

45 minutes ago, geisha said:

Very common the sub letting between Russians , phuket and Pattaya.

Yeah the first lot seem to have rented out loads of places knowing their fellow citizens will be following in a month or two and have no qualms charging them the earth to rent from them ????

[Skeptic7]

Phuket has been over-the-top overpriced for a decade. Vowed to never return after last visit in 2015. That said...going back next month❗????

[zzzzz]

Been here awhile, built a  home in Kamala and sold it
Have also rented various homes in Patong, ( pre 96) and since than in Kamala>
NEVER paid more than 14,000 baht/month for a 2 bedroom furnished home>
for sure you can pay more but never felt Phuket is overpriced
you just need look around

[EVENKEEL]

On 5/13/2023 at 3:10 PM, still kicking said:

I live in the expensive west, have a 2-bedroom unit with kitchen lounge, shower toilet and pay 22100 per months and yes, I know if you live in the rip off cities you pay a lot more, but I don't live in the sticks I live in a city of 2 million people have not had an rent increase for about 6 years 

Shower and a toilet, wow, living the dream.

[JayBird]

For that price I hope it's on the beach with private beach.  Multiple floors.  Elevator.  Private cinema.  Etc.

 

 

Btw, 7M can buy you a pretty adequate house to live in.

 

 

[MarkT63]

On 5/25/2023 at 2:32 PM, 4MyEgo said:

I think what your saying is you were previously paying 37,500 baht per month for your share of the monthly rent, i.e. there were (4) of you, which would make it worth the while.

 

That would be half the rent you would pay for a new one bedroom unit on Parramatta Road, Homebush in Sydney Australia.

 

Parramatta Road for those of you not familiar with the area has 6 lanes, 3 in each direction, so its a very busy road.

 

If the landlord is asking 350,000 baht a month now, he has heard that rents around the world have literally doubled because of the 10, if not more interest rises over the past year, and those landlords who couldn't afford to hang onto their investments, sold and most of the new owners who more than likely be tenants, therefore making rentals become scarce as the rental markets dry up, especially as is the case in Australia, with the government not charging stamp duty on purchases up to a certain amount, and then to scale, which makes it inviting, and those on the scale, can pay the stamp duty as an annual amount over xyz years.

 

Not 4 of us sharing (not sure where you got that from?) Also, different landlord, but an "identical" villa to the one we were in.

[JimTripper]

On 5/14/2023 at 8:25 AM, MarkT63 said:

Over the four years, yes. We did our research before moving here and that was the going rate for a villa of that standard in such a great location. Was "happy" to pay that, but what is happening in the market if pure craziness. 

Are you happy about it now? Blowing a bunch of money at once, now you can’t afford the same standard. You’ll need to downgrade now to save what you spent.

[MarkT63]

11 minutes ago, JimTripper said:

Are you happy about it now? Blowing a bunch of money at once, now you can’t afford the same standard. You’ll need to downgrade now to save what you spent.

My original comment was on the current state of the rental market in Phuket, nothing more. What I can or cannot afford is irrelevant. ????

[ChipButty]

It's slowed right down in Rawai I went for a swim yesterday at an apartment complex I could see many empty rooms, not as many request on FB for rentals lets see how this low season goes, 

[4MyEgo]

1 hour ago, MarkT63 said:

Not 4 of us sharing (not sure where you got that from?) Also, different landlord, but an "identical" villa to the one we were in.

Company paying your rent, because 150,000 baht per month is serious $'s in anyone's language, e.g. I built a 6 bedroom, 3 bathroom house for just over that amount when you multiply the rent x 12 months.

[4MyEgo]

On 5/26/2023 at 9:58 AM, Skeptic7 said:

Phuket has been over-the-top overpriced for a decade. Vowed to never return after last visit in 2015. That said...going back next month❗????

Yeh Phuket was my favourite holiday destination, and after having not been there since 2018, we did a quick visit as we were in the area so to speak.

 

I have found Hua Hin to be a better holiday destination, along with Ao Nang (Krabi), Patong is over priced, lots of resorts that I stayed at 3 - 4 star closed down, same $hit, different smell, and I like to get away from the low life tourists as opposed to the other destinations that I mentioned above.

 

Call me a snob, I don't mind, each to their own, seek and you shall find.

 

[MarkT63]

19 minutes ago, 4MyEgo said:

Company paying your rent, because 150,000 baht per month is serious $'s in anyone's language, e.g. I built a 6 bedroom, 3 bathroom house for just over that amount when you multiply the rent x 12 months.

No company paying. I know 150K baht per month sounds a lot but 350K per month sounds a lot more ????

[Skeptic7]

10 hours ago, 4MyEgo said:

along with Ao Nang (Krabi),

Totally agree on Ao Nang. Much better, less touristy and not so overpriced.

[pagallim]

Looking at some of the comments, the responses are about holidays etc, and how much better places such as Hua Hin and Ao Nang were.   Think these posters are missing the point.   For whatever reason people choose to live in Phuket, whether it's for employment or retirement, the key draw are the facilities, infrastructure and ease of day to day living.   Good supermarkets, restaurants, an international airport, clutch of hospitals both national and private, beaches galore, surrounded by stunning islands, and even the Immigration people are sensible.

 

Hua Hin, are you serious?   The Thai equivalent of Bournmouth in the UK with the beaches completely empty because it's boring and mediocre restaurants and a bar scene that apparently runs parallel to the UK pensioners bus pass app.

 

Ao Nang is not a place to live, unless you're running a business there, and certainly not recommended for retirement.   The ambulances are long tails, which tells you all you need to know.

[soi3eddie]

Jeez. There are so many nicer places to visit and live in Thailand than Phuket. Easy to avoid. Leave it for the wealthy and tourists who know no better.

 

[zzzzz]

11 hours ago, Skeptic7 said:

Totally agree on Ao Nang. Much better, less touristy and not so overpriced.

LOL:
Much better for what? eating at Indian restaurants, walking  in the mud at low tide?
way to crowded in high season

NO thanks, quit going to Ao Nang back in 2002 when we vacationed from Phuket to Koh Lanta

[richard_smith237]

23 hours ago, 4MyEgo said:

Company paying your rent, because 150,000 baht per month is serious $'s in anyone's language, e.g. I built a 6 bedroom, 3 bathroom house for just over that amount when you multiply the rent x 12 months.

You bought land and built a 6 bedroom 3 bathroom house in prime area of Phuket with views over the Andaman sea for 1.8 Million Baht.... ????

 

 

Or...  is it something more like... a house that you are proud of, but in an area of Nakhon nowhere that no one else really wants to live ?

 

 

[4MyEgo]

22 minutes ago, richard_smith237 said:

You bought land and built a 6 bedroom 3 bathroom house in prime area of Phuket with views over the Andaman sea for 1.8 Million Baht.... ????

 

 

Or...  is it something more like... a house that you are proud of, but in an area of Nakhon nowhere that no one else really wants to live ?

 

 

Sometimes you have to read all of what one is saying, i.e. I ended my post with, "each to there" own, suffice to say 150,000 baht per month rent for views over the ocean with no secure tenure, which is a total of 7.2 million baht gone down the drain in my opinion.

 

Can I afford to rent for 150,000 baht a month and get those ocean views, sure can, but why would I. I learned a long time ago from a boss of mine who lived in a waterfront ground floor apartment with views of the harbour and city. I said to him, Reg, how come you don't live on the million $ strip, back in the day, you can easily afford it, the million $ strip was waterfront houses, his reply was, well if I did that, that is all I would have, i.e. all of my eggs in one basket vs having two retail shops on the main shopping strip with apartments above each, deriving him of an income.

 

I prefer to live where I live as it provides me with serenity, away from farangs and far away enough from the locals in my, actually (wife's) castle and make my money on investments as opposed to throwing down the drain on rent for an ocean view. To me the greenery that surrounds me from every window is as equally attractive and when we go on holidays every 6 months, we stay in the occasional water front hotel for 2,000-3,000 baht a night per room (2 rooms) and or close enough to stroll to the beach if we can't find one for the same price, depending on the province.

 

Like I said, each to their own, rent has always been a loss, that is why I invested in real estate from 24 years of age, and building up from there, allowing others to pay part of my mortgages while my investments grew and I was getting a tax off set on my income, now those properties are positively geared, thus rendering me an income.

 

I'll say it again, each to their own, people throw money away all the time, I prefer to splurge on myself and family every 6 months with an international holiday and a domestic holiday.

[Will B Good]

They probably went for 250k, got no takers......missed a few months rent, so now have to increase the asking price to......

 

1. Save face

 

2. Cover the lost rent......

 

go figure!

[gargamon]

On 5/25/2023 at 4:06 PM, ChasingTheSun said:

Please do share with us where is better than Phuket overall?

Pretty much anywhere. Phuket is a sh*th*le. 

[4MyEgo]

On 5/25/2023 at 7:06 PM, ChasingTheSun said:

Please do share with us where is better than Phuket overall?

It all depends what you like, doesn't it.

 

Ao Nang for one is much much better.

 

Hua Hin is another.

 

Koh Samui another.

 

Just depends what you like, all of the above have decent footpaths for starters....lol

[ChasingTheSun]

On 5/29/2023 at 5:06 AM, 4MyEgo said:

It all depends what you like, doesn't it.

 

Ao Nang for one is much much better.

 

Hua Hin is another.

 

Koh Samui another.

 

Just depends what you like, all of the above have decent footpaths for starters....lol

Yes you are correct that individual choice depends on ones personal preferences.
 

However, no place is perfect, and we could list many downsides of the places you highlighted.

 

indeed, Phuket does attract many more people than those other places because it’s overall attraction far outweighs its downsides.