State of recently build condos in Pattaya, example The Base

[vangrop]

I stay actually in The Base for 2 months. The building should be almost 5 years old. Initial price was around 150.000 baht per square meter. I already stayed there begin 2020. What was I  astonished when I dicovered the state of this buiding now. 

In heavy rain the water seeps through the windows which are closed! All the doors are stuck. The interior coverings are already degraded. No water pressure in the shower, water flows from the tap in small streams. At the time of construction I often stayed in neighboring hotels. I'm not a construction expert, but I was amazed at how it was done. For example, they manually stacked bricks and glued cement to outside wall. The majority of workers being foreigners. I wonder the quality aspects and ask myself the financial question, would this have been a good investment?

[Pattaya57]

I doubt condo's sold at 150,000 sqm? Most Pattaya condo I've looked at seem to be 50-65,000 sqm so that's a massive difference

[proton]

These places are built to sell not to last. I recall going to a condo in Hua Hin 20 odd years ago, the lifts did not work because the building had subsided so much on one side the shafts were out of alignment, build quality is even worse in China. 

[noobexpat]

10 minutes ago, Pattaya57 said:

I doubt condo's sold at 150,000 sqm? Most Pattaya condo I've looked at seem to be 50-65,000 sqm so that's a massive difference

 

I bet the small 30sqm are going for close to 3m, so that would be 100,000.

 

The base is way more than 5 years old ...8 or 9?

[BenStark]

19 minutes ago, Pattaya57 said:

I doubt condo's sold at 150,000 sqm? Most Pattaya condo I've looked at seem to be 50-65,000 sqm so that's a massive difference

 

Hipflat says that current sales price is 120K sqm

 

https://www.hipflat.co.th/en/projects/the-base-central-pattaya-zuiltg

 

DD Property has multiple listings around that price

 

https://www.ddproperty.com/ขายคอนโด/ที่-the-base-central-pattaya-เดอะ-เบส-เซ็นทรัล-พัทยา-3899

[Pattaya57]

33 minutes ago, BenStark said:

 

Hipflat says that current sales price is 120K sqm

Your link has a nice chart showing average price for the Base. I still don't know what they are getting for 120,000 sqm cost. That should be a penthouse somewhere 

[Celsius]

I can confirm presale prices were starting above 100k for the cheapest rooms. So better rooms with a view it is possible to be close to 150k

 

Yes, it is an awful construction.

 

Yes, it is only 7 years old.

 

This is an AirBnB central, so expect it to be garbage in the future. Probably unsellable.

 

But people have made money buying this POS. Just like with crypto $hitcoins, timing is everything.

 

 

[Sigmund]

This is not specific to Pattaya. I have seen and rented a pool villa in one of those popular Hua Hin developpments in Hin Lek Fai. Just a few years back, the villas almost brand new, had all their paint cripping and it was sad to see that from outside. I had many electrical issues also in that almost new house with bulbs fusing almost each time I switched the lights ON

 

Yup, the whole place has mainly farang-thai couples living and the developpment managment was all farangs. Some of the full time residents told me they were paying a fortune per month in those "Community fees".  I pointed out the flaws to one of the guys in charge, but he seemed just to say that's how it was, it was nothing to bother and really did not seem to give a sh...   Needless to say, I did not make a purchase in that popular developpment. Those people just don't care as they always find foolish farang people to throw money for bad construction and finishes in Hua Hin.

 

Bad building, bad property management is common all over Thailand. Before buying, always talk to the owners first as they are the best "agents" to speak about the property. Not all are bad but many. Check well before and if you see the slightest sign of bad maintenance or paint comming off, just leave.

[champers]

The Prime Minister's company built both The Edge and The Base; he is uber rich, many Thais have uber debts.

[JimTripper]

17 hours ago, Sigmund said:

I had many electrical issues also in that almost new house with bulbs fusing almost each time I switched the lights ON

try slightly unscrewing a couple of the bulbs on that circuit/area two get a smooth light flow, get rid of flickering, fusing. it takes load off the circuit.

 

of course, that means you live with less light. nothing in life is free. 🤣

[wombat]

23 hours ago, vangrop said:

n heavy rain the water seeps through the windows which are closed!

the drain holes at the bottom of the casements are blocked...simple fix

[scubascuba3]

Disappointing that a company with a good reputation can have poor standards like that. My condo is 30 years old has none of those problems mentioned, in fact water pressure is so high I have to turn it down

[pomchop]

Appears to me that the base is an airbnb trying to semi operate as a hotel without maybe having the regular maintenance performed as expected in most hotels with near daily turnover and owners who are not anxious to lay the $$ out.....i thought the Edge was better building all around but i think they do try to somewhat control the airbnb brigade of daily rentals.

[SAFETY FIRST]

On 11/3/2023 at 2:23 PM, Pattaya57 said:

I doubt condo's sold at 150,000 sqm? Most Pattaya condo I've looked at seem to be 50-65,000 sqm so that's a massive difference

Nope, lots of over priced condos in Pattaya. 

 

Copacabana and all the Riviera's condos all selling around 150k baht sq m. 

Many more around over 100 k

[Pattaya57]

2 minutes ago, SAFETY FIRST said:

Nope, lots of over priced condos in Pattaya. 

 

Copacabana the Riviera condos all selling around 150k baht sq m. 

Many more around over 100 k

A lot of people getting ripped off then 😉

[noobexpat]

23 hours ago, Pattaya57 said:

A lot of people getting ripped off then 😉

 

I recall chatting to a guy who paid 7k a month rent. Up to him, if he's happy then i'm happy for him.

 

First thing he said to me, when i told him mine "you are getting <deleted> ripped off, tell the owner to go <deleted> himself.

 

Hmmm !

[scubascuba3]

23 hours ago, noobexpat said:

 

I recall chatting to a guy who paid 7k a month rent. Up to him, if he's happy then i'm happy for him.

 

First thing he said to me, when i told him mine "you are getting <deleted> ripped off, tell the owner to go <deleted> himself.

 

Hmmm !

Many noob expats start with high rent then over time realise they can pay a lot less

[EdrigoSalvadore]

I visited many condos in the base already 6-7 years ago, and they were in terrible condition already. Taps and door handles falling off and everything felt cheap. The rooms are tinier than prison cells too. The Guards always gave me a hard time too, had to park outside.

[NextG]

23 hours ago, noobexpat said:

 

I recall chatting to a guy who paid 7k a month rent. Up to him, if he's happy then i'm happy for him.

 

First thing he said to me, when i told him mine "you are getting <deleted> ripped off, tell the owner to go <deleted> himself.

 

Hmmm !

What has this to do with 150k per square metre?

You seem to be somewhat preoccupied with how much you spend on rent in comparison to others. It’s a bit weird. You seem to think it makes you a ‘cut above’. 
I used to spend double what you do now, but that is for absolute beachfront, not in the middle of a sleazy city centre. Wind it in a bit…

Money doesn’t indicate good behaviour or a good upbringing. 

[noobexpat]

3 hours ago, scubascuba3 said:

Many noob expats start with high rent then over time realise they can pay a lot less

 

Thought i'd start low to err on the side of caution. Did plan to move to rama 9 in bkk, but couldn't stand the traffic.

 

Rent will increase next year, owner said so, in advance. No problem with that.

 

[Caldera]

Ah, The Base... What they didn't ruin in the construction phase  they ruined with Airbnb over-usage. It's about the last place I'd buy a unit at.

 

The location is great, obviously, but that's where the greatness ends.

[newnative]

On 11/3/2023 at 2:23 PM, Pattaya57 said:

I doubt condo's sold at 150,000 sqm? Most Pattaya condo I've looked at seem to be 50-65,000 sqm so that's a massive difference

    Lots of Pattaya condos are over 100,000 baht a sqm., especially new and high-rise.   The Edge, next door to The Base, at one point was priced at around 180,000 baht a sqm. during the pre-construction period.  Hipflat still has it at 178,888 baht per sqm.   

    We actually were one of the first owners of a 1 bedroom condo at The Base and rented it out for a year.  But, we could see the Airbnb problems arising and sold it after the first year of owning it. 

    I think the OP's experience is not typical for most condos that have avoiding becoming Airbnb hotels.  We have owned at a number of different projects and most were being maintained fairly well.  I think some of the new projects, that have been really slammed with Airbnb tenants and, really, have been used essentially as hotels, without the much higher maintenance a hotel requires, have started to show some of the effects.

[newnative]

     I should add that the OP is incorrect about both the age of The Base and its original average price per sqm.  As I mentioned, my partner and I were original owners of a top floor seaview 1 bedroom unit, 35 sqm.  We paid 3MB for the unit.  That works out to about 86,000 baht a sqm., not 150,000 baht.  We sold for about 122,000 baht a sqm. and Hipflat has the current average price per sqm at around 120,000 baht a sqm.  

[SingAPorn]

One thing in Thailand is that the reale estate owners selling property (houses or condos) just do not supervise the work of their painters or electricians.

 

The finish is often very bad quality and the problems start to show barely one year after completition and after you have paid of course.

 

No matter how costly or luxurious the project may be - the work is very often crappy so watch out. Rent, don't buy. Leave if you see bad workmanship as it could end up in a short circuit or fire in the premises.

[NextG]

1 hour ago, noobexpat said:

 

Thought i'd start low to err on the side of caution. Did plan to move to rama 9 in bkk, but couldn't stand the traffic.

 

Rent will increase next year, owner said so, in advance. No problem with that.

 

So you’ve started low and you’re staying at the same level new year too. Gotcha! When are you thinking of moving to your usual standard? What do you have now? Ocean view, mountain view or a view of your neighbours?

[bkk6060]

I lived in The Base right after they opened.  28th floor nice view and the location was fantastic.   But yes,  it did deteriorate mostly due to the short term rentals.   And yes, the construction workmanship and quality of materials are poor.

But,  can anyone tell me where they are high end and lasting?  Even places like Northshore do not seem that great.  Just seems kind of standard practice in Thailand.  Hiring cheap unskilled foreign labor doesn't help much either, but they have little choice it seems.

[NextG]

7 minutes ago, bkk6060 said:

I lived in The Base right after they opened.  28th floor nice view and the location was fantastic.   But yes,  it did deteriorate mostly due to the short term rentals.   And yes, the construction workmanship and quality of materials are poor.

But,  can anyone tell me where they are high end and lasting?  Even places like Northshore do not seem that great.  Just seems kind of standard practice in Thailand.  Hiring cheap unskilled foreign labor doesn't help much either, but they have little choice it seems.

For me, The Base was always 👎 

But there are always those attracted to ‘shiny and new’, blind to it’s very obvious realities. 

[WhatMeWorry]

Condo's are a terrible investment in Thailand because..........Thailand is a third world country. Most older condo's in Thailand turn into slums because of lack of maintenance. The Thai's only want to save money, not improve their buildings. Most of Thailand is a slum and that is how these people live.

[scubascuba3]

7 hours ago, Caldera said:

Ah, The Base... What they didn't ruin in the construction phase  they ruined with Airbnb over-usage. It's about the last place I'd buy a unit at.

 

The location is great, obviously, but that's where the greatness ends.

Location is only great for tourists and newbies, usually people want to move further out after a while

[jacko45k]

13 hours ago, scubascuba3 said:

Many noob expats start with high rent then over time realise they can pay a lot less

Yes, there's what tourists pay, and then what expats pay.. don't end up in the wrong group.