View Talay 6

[jetjock]

One of my best friends who is living in Pattaya just called me and said that he is thinking of buying a studio apt on the 27th (top) floor of View Talay 6 for roughly 2.5 million baht. My friend has only been in Thailand for about a year and bought a new house in Jomtien Beach about 3 months after arrival. He has decided he does not want to live in Jomtien beach because he is single and wants to live in the center of the action so that is why he now wants to buy a condo in the heart of Pattaya. He says he will sell his house in JB later or rent it out but wants to buy something in the center of Pattaya very soon.

My friend can be a bit impulsive on buying without checking things out thoroughly which concerns me. He wanted my opinion as I have been coming to LOS for many years but since I will not be back to LOS until October and have never really checked out real estate there, it is impossible to tell him anything about View Talay 6.

My friend is not into computers so cannot tap into the wealth of info on TV so I am trying to help him by making this post requesting information or opinions anyone might have on this building. He has already made up his mind that he is definitely going to buy soon so whether now is or is not the time to buy would be a moot point of discussion.

I would greatly appreciate any information or opinions, the good, the bad and the ugly that any TV member might have on the View Talay 6 project. Pattaya is a noisy place so I would also like any opinions and pros and cons of buying a top floor unit as opposed to buying a less expensive unit on the lower floors. I will pass all the info on to my friend and I know he will greatly appreciate your opinions. Thanks .

[Jingthing]

Is that studio a finished unit? Sounds very high priced for VT if just a shell. Higher floors have better resale potential as they are rare, but you also have longer elevator trips and waits.

Edited July 10, 2007 by Jingthing

[jetjock]

Is that studio a finished unit? Sounds very high priced for VT if just a shell. Higher floors have better resale potential as they are rare, but you also have longer elevator trips and waits.

He only telephoned me about an hour ago so am not sure if it is finished or not but by what you said, my guess is that it is a finished unit as he said it would not be available until December. He is usually pretty sharp about prices but my main concern it that he does not check out other things as thoroughly as he should. An example of this is when he bought his very nice 3 bedroom house in JB 9 months ago after only having 3 months experience in Thailand. Even though he loves his house, he now discovers that he does not enjoy being that far away from the action in Pattaya !

[ThaiBob]

Is that studio a finished unit? Sounds very high priced for VT if just a shell. Higher floors have better resale potential as they are rare, but you also have longer elevator trips and waits.

He only telephoned me about an hour ago so am not sure if it is finished or not but by what you said, my guess is that it is a finished unit as he said it would not be available until December. He is usually pretty sharp about prices but my main concern it that he does not check out other things as thoroughly as he should. An example of this is when he bought his very nice 3 bedroom house in JB 9 months ago after only having 3 months experience in Thailand. Even though he loves his house, he now discovers that he does not enjoy being that far away from the action in Pattaya !

At that price I suspect it is a VT shell....finished ceiling, floor, walls and a basic bathroom. To do it right he'll have the additional costs of doing his own build-out. Great location for him and will have the new shopping mall nearby which is plus or minus depending on one's point of view. Is he buying from VT directly or a flipper?

[farangfool]

Right next to the VT6 a huge Mall will be built. So he will have to put with construction noise and dust for quite some time. Another hassle will be that the new facility will attract substantial additional traffic. I wonder how second rd will look like in the future (same applies to pattaya klang and tai).

Searching the web and visiting the agents might get him something even closer to the action and perhaps a little cheaper (meaning less financial input).

[jetjock]

At that price I suspect it is a VT shell....finished ceiling, floor, walls and a basic bathroom. To do it right he'll have the additional costs of doing his own build-out. Great location for him and will have the new shopping mall nearby which is plus or minus depending on one's point of view. Is he buying from VT directly or a flipper?

I did not get all the details from him so not sure who he is buying from but he did say something about them giving him up to 2 years to pay for it so my guess would be that it is probably directly from developer. As I mentioned earlier, I know him well enough to know that he probably has done a little homework on the price aspect.

I know nothing about the View Talay projects other than that they have some other ones in the Pattaya area. One of my main concerns is whether he has done his homework on whether VT has a reputation from their earlier projects as to being a decent quality for the money developer ??

[Penkoprod]

Not ready til December?

Pay over 2 years?

Seems like its still "off plan" to me (or at best a shell)

Have you had a look at any estate agency websites, and are there any picures of the insides of any of the units (NOT mock-ups of what it could look like)?

TBH alarm bells would be ringing if i were him/you

And i havent even thought of any building noise from nearby

Penkoprod

[think_too_mut]

Is that studio a finished unit? Sounds very high priced for VT if just a shell. Higher floors have better resale potential as they are rare, but you also have longer elevator trips and waits.

IMO, whether it is or not a shell unit, other condos might be. Even if they are not. Count on about 4-5 years of constant jack-hammering and heavy works. You never know how long you can sleep in the morning, including Xmas and Boxing day. Any day.

The lifts are the major hassle at all VT projects. I saw people clapping when the lift reaches the ground. Some from upper floors say, 10-15 mins to get up or down, waiting included.

Imagine you forgot the straws for your drinks in the downstairs convenience shop. Would you go back, if it takes 20-30 mins?

Resale value: hundreds of condos are on sale at any time in all the VT projects. 3 years of holidaying at my friend's place, never seen any condo changing hands. Some might, but there is no sale-resale activity worth a notion.

Before someone says I am being too negative - I enjoy it there. 2 rooms adjoined, an arch door between, 2 bathrooms, full kitchen, clean and nice. Far superior to any hotel at any price.

Rented out only to his personal friends, sees maybe 2 months occupancy a year.

Nice holiday retreat from BKK, but I need more convincing to buy in there.

[whatchamacallit]

Is that studio a finished unit? Sounds very high priced for VT if just a shell. Higher floors have better resale potential as they are rare, but you also have longer elevator trips and waits.

He only telephoned me about an hour ago so am not sure if it is finished or not but by what you said, my guess is that it is a finished unit as he said it would not be available until December. He is usually pretty sharp about prices but my main concern it that he does not check out other things as thoroughly as he should. An example of this is when he bought his very nice 3 bedroom house in JB 9 months ago after only having 3 months experience in Thailand. Even though he loves his house, he now discovers that he does not enjoy being that far away from the action in Pattaya !

Your friend wants to move from a 3 bedroom house to a 48sq meter studio just because he wants to be close to where the actions are? Ask him again if he is sure about this - it can be a very expensive move.

[Ploughboy]

If he wants forign ownership he had better be careful. They oversold their quota so now they say it is first come first served at the land office.

He might be well advised to rent first and take his time and check everything out carefully. Get some advice whilst actually staying in Pattaya.

[Jingthing]

View Talay bashing is like Pattaya bashing.

So popular to bash, yet so curiously popular at the same time.

I agree that I would avoid company ownership like the plague, but the elevator times aren't anywhere near as bad as noted above, so can you trust anything else they say?

I totally understand why a single man would want to live in a small condo in the middle of town rather than in a big lonely house out in the sticks! No different from anywhere in the world. Closer into the center, more urbanized, space more dear.

Edited July 10, 2007 by Jingthing

[jetjock]

Update on original post: Thanks to the informations and questions raised by the posters, I just gave my friend a telephone call to get more specific information on the condo unit he is interested in purchasing. It is a top floor unit facing NE which is the side that the big shopping center development will be built on. He says the development will only be 10 stories high so he will retain his ocean view after it is built and he is aware that there will some construction noise to deal with in the near future. The unit is a studio and is 48 sq. meters and mostly finished except for the kitchen and some of the tile work. the exact price is 2.8 million Baht and he will be buying directly from VT on a 2 year payment plan.

He also told me that he just got together with another good farang friend of mine who happened to visiting Pattaya yesterday and now that he has shown him VT 6, my other friend is also interested in the building. Now that I have two friends who each have only about 1 years experience in LOS, I will greatly appreciate any further comments anyone has on this project. After getting off the phone with my friend, <edit>

ps. My personal feeling are that 48 sm is very small and I do not know if selling a small studio would be a plus or minus when time comes that someone wants to resale in the Pataya market?? I also do not think my friend understands that by not paying in full at time of sale but buying on a payment plan over 2 years with converted American dollars that he is essentially making a currency play since depending on the fluctuating value of the baht he could wind up paying more or less than he planned (but of course that a whole different subject of discussion).

Edited July 15, 2007 by Totster

[Jingthing]

I think this is a good project, assuming it will be built.

I personally wouldn't want to live in that small a condo, but plenty of people do, especially those living part time in the resort. Resale potential, studios versus one bedrooms (two rooms) is a good question, and I have no idea.

That all said, the biggest issue I would have is the chance of not getting it in direct foreign name. To me, the main advantage of buying a condo is that it is the only way to hold real estate in Thailand in a foreign name. I wouldn't touch a situation where there was a chance I would have to own using a phony shell company and View Talay is known for never offering any guarantee that you will get your new unit in a foreign name.

<edit>

Edited July 15, 2007 by Totster

[Tammi]

I think this is a good project, assuming it will be built.

I personally wouldn't want to live in that small a condo, but plenty of people do, especially those living part time in the resort. Resale potential, studios versus one bedrooms (two rooms) is a good question, and I have no idea.

That all said, the biggest issue I would have is the chance of not getting it in direct foreign name. To me, the main advantage of buying a condo is that it is the only way to hold real estate in Thailand in a foreign name. I wouldn't touch a situation where there was a chance I would have to own using a phony shell company and View Talay is known for never offering any guarantee that you will get your new unit in a foreign name.

I have heard that the Jomtien VT that will block the Jomtien Complex ocean view will possibly be stopped. Have heard nothing of any other suspended VT projects and I would very surprised if they stopped this project next to a major shopping center, right on the beach, right in the heart of Pattaya, that is an incredible location.

Is VT6 more than 200 meters from the shoreline? If it isn't it might never be finished unless to a height of 14 meters.

[Artisan]

Is VT6 more than 200 meters from the shoreline? If it isn't it might never be finished unless to a height of 14 metres.

Has anyone been able to define "shoreline" yet, Tammi?

[Tammi]

Is VT6 more than 200 meters from the shoreline? If it isn't it might never be finished unless to a height of 14 metres.

Has anyone been able to define "shoreline" yet, Tammi?

The legal definition of 'shoreline': Land between ordinary high and low water marks.

[Artisan]

Is VT6 more than 200 meters from the shoreline? If it isn't it might never be finished unless to a height of 14 metres.

Has anyone been able to define "shoreline" yet, Tammi?

The legal definition of 'shoreline': Land between ordinary high and low water marks.

From where did you dig up that "legal" definition Tammi? The "shoreline" is a boundary line......and do you know where is the datum point for that line?

Edited July 12, 2007 by Artisan

[Tammi]

Is VT6 more than 200 meters from the shoreline? If it isn't it might never be finished unless to a height of 14 metres.

Has anyone been able to define "shoreline" yet, Tammi?

The legal definition of 'shoreline': Land between ordinary high and low water marks.

From where did you dig up that "legal" definition Tammi? The "shoreline" is a boundary line......and do you know where is the datum point for that line?

Sorry, yes, legal definition of shore (not shoreline) is the the land between high and low water marks. Will get back to you on 'shoreline' but will be either the high water mark or halfway between high and low water marks. I think some countries say one and other countries say the other.

[bmanly]

Jetjock I have a friend who is also buying a 48 sq mtr condo in VT6. He is very happy with his choice and can hardly wait to have it completed. One thing for your friend to watch is this farang quota of 49%. View Talay has been known to take more farang applicants than there are units available. What your friend has to be careful and sure of is that he will get the condo in his name as a foreign buyer, not as company buyer. The later could be a major setback and headache to deal with.

After reading this thread I decided to go down to the site yesterday and do some looking around. WORK HAS NOT BEEN SUSPENDED. There were several workers on site and plenty of angle grinding noise could be heard coming from the site. I took some photos for you to have a look at. I think this project is in a top location, your friend will not need a car as everything is within walking distance. I do not have a crystal ball but with this location I would say your friend would have better resale than a lot of other condo complexes in the Pattaya Jomtien areas. Location Location Location as the real estate people say is the most important thing to consider when buying a property.

Concrete trucks pumping concrete.

Crane working normally.

Workers cars on site and this truck just pulled in for a delivery.

[Humphrey Bear]

To answer one or two of your points - these tower blocks are built on a standard 4m x 4m module, so the 48 sq.m. is three modules, which is normal for a studio apartment - ideal for bachelors. And is easily re-saleable. But the price to me is high. So maybe not so easily re-saleable. I realise that prices have risen since the East European influx started three or four years ago, but friends of mine were buying same size condos in slightly less prestigious locations (say 100-200 metres from Beach Road) for 1.2 million in 2005.

Is your friend looking to have his own transport? Because parking around that area is not easy. And for the size of the building, plus the new shopping development, it will only get harder. Traffic inn that area will be horrendous.

I am sure the VT people will have established the 'shore-line' accrding to Thai law. These people have been in the business long enough to know what they are doing.

So good luck with the purchase - just try to chip them down a bit.

[Humphrey Bear]

From State of Hawaii

SECTION 3. Section 205A-1, Hawaii Revised Statutes, is amended by amending the definition of "shoreline" to read as follows:

""Shoreline" means the [upper reaches] uppermost reach of the [wash of the waves, other than storm and seismic waves, at high tide during the season of the year in which the highest wash of the waves occurs, usually evidenced by the edge of vegetation growth, or the upper limit of debris left by the wash of the waves.] annually recurring highest seasonal surf evidenced by the resultant debris line or the first stable vegetation, whichever is furthest mauka or inland; provided that the vegetation is not influenced or modified by human intervention."

Of course, this may well be the complete opposite of the Thai definition.

Edited July 15, 2007 by Humphrey Bear

[ace]

For my 2 cents, it's a decent deal. As long as:

1. It is on the top floor

2. It is in foreign name

I like the location, after the central is finished it will be right in the action and likely to retain a decent environment. But I wouldn't want to actually stay there until the Central work is done (2009 at the earliest).

Ace

[Artisan]

For my 2 cents, it's a decent deal. As long as:

1. It is on the top floor

2. It is in foreign name

I like the location, after the central is finished it will be right in the action and likely to retain a decent environment. But I wouldn't want to actually stay there until the Central work is done (2009 at the earliest).

Ace

I wouldn't recommend buying on the top floor of any condo for three reasons.

1. The roof of the condo absorbs a tremendous amount of heat which makes the top floor units very hot.

2. A flat roof is prone to flooding and even water leakage. The water from a leak doesn't have to appear directly below the leak site.

3. The flat roof of a condo is usually the first part of the building that will need replacing. I'm just thinking about the noise etc.

Buy on the second floor from the top if you can.

[Penkoprod]

Those corner units look a bit tasty though

Penkoprod

[Cuban]

Is your friend looking to have his own transport? Because parking around that area is not easy. And for the size of the building, plus the new shopping development, it will only get harder. Traffic inn that area will be horrendous.

Traffic - it ain't getting better.

Many Thai "newbies" that fall in love with Pattaya develop over the years to bore with the scene, if you are tied to walking distance of one location the world is a small place. When you get a car you discover that this is not the place to have a base. It's certainly no good during any holiday weekend/event.

[jetjock]

Many thanks to all the posters for their knowledgeable posts. I am forwarding the information today to my friend in Pattaya.

Some of my thoughts and observations regarding a few of the interesting points raised by the posters:

He wants a top floor unit mainly because he does not want to have someone living directly above that could cause him a noise problem. Someone raised the point of possible excessive heat gain in a top floor unit. I agree that this could be a big problem depending on how the building is constructed and insulated which is something I am going to suggest he should definitely check out.

I agree that the parking problem is definitely something to consider in any condo purchase. In his case it should not be a major factor because the reason he wants move from his house in Jomtien and buy in the heart of the action is because he does not drive a car and has almost gotten wiped out on his motor scooter several times so he does not want to drive anything anymore.

TV posters have once again proved that they can be a wealth of information. Thanks again for all your help.

[Lazy Sod]

Is the proposed shopping centre on the Naklua side or the Jomtien side? When I looked at this project I was worried that VT would build identical condos either side (after VT6 had sold out of course) and block the views. Didn't know about the shopping centre. How about the other side as well? Anybody know the plans for that. One of the biggest dangers buying VT6 (apart from the 49% foreign ownership thing) is that something like 90% of the units are on the sides, and so you need to know what is going to be built adjacent.

[jetjock]

Is the proposed shopping centre on the Naklua side or the Jomtien side? When I looked at this project I was worried that VT would build identical condos either side (after VT6 had sold out of course) and block the views. Didn't know about the shopping centre. How about the other side as well? Anybody know the plans for that. One of the biggest dangers buying VT6 (apart from the 49% foreign ownership thing) is that something like 90% of the units are on the sides, and so you need to know what is going to be built adjacent.

The information that I received (if correct) is that the shopping center will be 10 floors high and on the Naklua side.

[Tammi]

If VT6 cannot be completed because it is not 200 meters from the shoreline will VT return your money with interest? What interest is VT paying?

Is any work going on at VT6, VT7 and VT8? If not it would seem there must be a problem determining what the legal definition of 'shoreline' is in Thailand.

[bmanly]

If VT6 cannot be completed because it is not 200 meters from the shoreline will VT return your money with interest? What interest is VT paying?

Is any work going on at VT6, VT7 and VT8? If not it would seem there must be a problem determining what the legal definition of 'shoreline' is in Thailand.

There is definitely work being carried out at VT6. Check my post #19, I was down there last Saturday and took those photos, cheers.