Looking to buy a condo in Pattaya

[BigStar]

2 hours ago, Pattaya57 said:

Why is it the people that don't own a condo in Pattaya, and probably never owned a property in their life, always throw out the useless advice to never buy a condo.

 

I feel sorry for you all as buying 5 properties in Aus and 2 condo's in Pattaya is what allowed me to retire at 52

 

 

[Hanuman2547]

The way that condos are run and the quality of them I would be very wary of actually purchasing one.  There are definitely more condos for sale in the greater Pattaya area than there are buyers.  There are so many things that you can't control such as neighbors plus Air BnB's, but then the condo management is a whole other problem.  

 

Good luck in your search.

[Jumbo1968]

It depends on how long you want to live in Pattaya, condos are difficult to move on as they become older and more so ones at the lower end of the market, there is a glut of them in Pattaya, certainly not an investment you would make money on if you tried to sell it at a later date.

Put your money into a high interest savings account and use part/interest/interest  to pay rent with the option of moving on if you want to.

[scorecard]

22 hours ago, TimBKK said:

Grand Avenue fits the bill and there are a few in your price range on my Pattaya condo.com.  Be diligent with your research though, there is some dodgy sh*te going on with the developer from what I overhear in the hallways…

 

Good place to live, though - great location, decent facilities and quiet at night, generally.

But if it's second hand seriously investigate / check the status of an owners committee and how action that committee is and the common finances. 

[noobexpat]

I think its rare that you get a 'condo buyer' who appreciates opportunity cost. Maybe they are just a simple bunch who think bank interest is the lost opportunity. 

 

Expected growth on my funds should be 7%. This is enough to cover rent. At least 1% is what i would call a portability premium - i get to leave when the condo annoys me or it gets old and shabby.

 

I was a homeowner in the west and i don't miss much about it.

 

 

[Jumbo1968]

4 minutes ago, noobexpat said:

I think its rare that you get a 'condo buyer' who appreciates opportunity cost. Maybe they are just a simple bunch who think bank interest is the lost opportunity. 

 

Expected growth on my funds should be 7%. This is enough to cover rent. At least 1% is what i would call a portability premium - i get to leave when the condo annoys me or it gets old and shabby.

 

I was a homeowner in the west and i don't miss much about it.

 

 

I couldn’t have put it better, even my Thai wife wouldn’t want me to buy a condo which eventually would be left to her. I had one in the U.K. which I managed to sell recently, I lost at least 5% of the initial purchase price, not a great investment after owning it for 10 years.

[noobexpat]

1 hour ago, Jumbo1968 said:

I couldn’t have put it better, even my Thai wife wouldn’t want me to buy a condo which eventually would be left to her. I had one in the U.K. which I managed to sell recently, I lost at least 5% of the initial purchase price, not a great investment after owning it for 10 years.

 

I did 23 yrs in the UK market and did well. But it was houses not flats. Flats/appartments/condo's didn't seem to go up at the same rate as houses in my area.

 

I'm a bit weary of the future value of aged condo's in thailand. There is no way they are going to outperform global stockmarkets, of that i'm sure. Which is my version of opportunity cost.

 

Owning has some nice fluffy feels to, so i do get that as well.

[BigStar]

3 hours ago, noobexpat said:

I think its rare that you get a 'condo buyer' who appreciates opportunity cost. Maybe they are just a simple bunch who think bank interest is the lost opportunity. 

 

Or maybe the renters are just a simple bunch content, or forced, to pay rent monthly to a landlord who may cancel their lease anytime. And maybe the owners have a range of investments and can easily afford a potential lost opportunity cost as they no longer pay rent. Moreover, they think it worth it to enjoy having their own place, fixed up according to their own tastes, in a location they prefer.

 

3 hours ago, noobexpat said:

Expected growth on my funds should be 7%. This is enough to cover rent.

 

Or maybe not. Maybe your funds will crash this year and leave you destitute and wondering how you're going to make that rent. Meanwhile, owners continue living comfortably, glad they bought when they did. Yeah, owners can play the scary music for you too. 🙂  

 

3 hours ago, noobexpat said:

i get to leave when the condo annoys me or it gets old and shabby.

 

As you could if you owned the condo. The ANF Little Miss Muffet Rule of Thailand residency is inevitably brought up by the rental brigade whenever anyone dares suggest buying a condo for himself, though it has nothing to do with the renters and nobody cares about them either. Self-reassurance, I guess. 

 

3 hours ago, noobexpat said:

I was a homeowner in the west and i don't miss much about it.

 

Same here. But I've enjoyed a couple of decades in my Pattaya condo now, am very happy I bought when I did, and hope for another decade at least. In all this time, I've never heard an owner say, "Jeez, sure wish I didn't buy my condo!" Nobody's ever desperate to sell and heading for the exits as our renters typically fear monger.

 

[Pattaya57]

I always laugh when a people say I can invest my 3 million baht elsewhere so better to rent.

 

Simple math

 

(1) buy 3 million baht Condo, live rent fee, pay 20,000 baht condo maintenance fee. Nett is minus 20,000 per year

 

(2) leave 3 million baht (equiv.) in bank in home country, get 5% bank interest so 150,000 baht a year (12,500 per month). Pay 18,000 baht a month rent for same 3 million baht condo so nett is minus 66,000 per year 

 

I know which option I prefer and this excludes exchange rates. I bought my Condo with A$1 = 30 baht so a 3 million baht condo = A$100k. It's now 23 so 3 million baht = A$130k. Nice little 30% profit even if the condo didn't  increase in value every year (but it has)

 

[Pattaya57]

OP I don't think you can go wrong with buying in soi 15 behind soi bukhao. I bought in Urban and I can walk anywhere in Central Pattaya with baht bus routes also only 50m away on 2nd road or soi bukhao (Villa Market also very close)

 

Urban, City Garden, Avenue Residence, Centara Residence or Grand Avenue would all suit your purpose.

 

Note to doomsayers: I've owned Urban since building was new in 2010. It's in the same condition today with excellent Juristic management. 14 years old doesn't mean it's now crap and poorly maintained (and short-term rental is banned and actively policed)

 

[BenStark]

1 minute ago, Pattaya57 said:

OP I don't think you can go wrong with buying in soi 15 behind soi bukhao. I bought in Urban and I can walk anywhere in Central Pattaya with baht bus routes also only 50m away on 2nd road or soi bukhao (Villa Market also very close)

 

Urban, City Garden, Avenue Residence, Centara Residence or Grand Avenue would all suit your purpose.

 

I'll check them out, There are many urbans in Pattaya, is the one in soi 15 called just Urban?

 

For now my preference goes to LK Legend because it is on a big plot, has ample covered parking, and is about 30.000m² cheaper than Centara Residence.

 

Don't know how the prices are for the others you mention

[Pattaya57]

33 minutes ago, BenStark said:

I'll check them out, There are many urbans in Pattaya, is the one in soi 15 called just Urban?

 

For now my preference goes to LK Legend because it is on a big plot, has ample covered parking, and is about 30.000m² cheaper than Centara Residence.

 

Don't know how the prices are for the others you mention

 

"The Urban" is the original and is in between City Garden and Avenue Residence on Soi 15. There are also two real estate agents in front of Urban. They will be able to give you excellent guidance and are sure to have keys to show you many if not all of the condo blocks I mentioned.

 

Urban is currently about 60-65,000 per square metre, much cheaper (and better) than Centara and Grand Avenue. How much is LK Legend per sqm?

 

[noobexpat]

4 hours ago, Pattaya57 said:

Simple math

 

by simple folk 555

 

 

This is what is was talking about @BigStar

[BigStar]

26 minutes ago, noobexpat said:

 

by simple folk 555

 

 

This is what is was talking about @BigStar

Though you've demonstrated the importance of your need to distinguish yourself from the simple folk, the usual pretentious posturing as a sophisticate merely triggers the usual collective yawn.

 

Renters, even living in flophouses off Soi Buakhao, always congratulate themselves on their superior financial management and their wisdom to have chosen their Little Miss Muffet living arrangement. Surprising, isn't it, that, so self-satisfied, they're nonetheless obsessed with owners enjoying living in their condos?

 

Sour grapes, in most cases. 

 

Perhaps it would be of comfort if you thought of owners as consumers of condos, rather than as investors. Most, contrary to your convenience, aren't primarily owning for the purpose of investment returns but for enjoyment--and can afford to do so. If you think, as a sophisticate, that you can't--for whatever reason, nobody cares--then that's your little personal issue, and has nothing to do with this topic by the OP. 

 

 

[noobexpat]

10 minutes ago, BigStar said:

Perhaps it would be of comfort if you thought of owners as consumers of condos, rather than as investors. Most, contrary to your convenience, aren't primarily owning for the purpose of investment returns but for enjoyment--and can afford to do so. 

 

But they don't  ...they break out the calculator and make themselves look simple again.

 

I may u-turn in the future, never say never. Got 30 or 40 yrs ahead of me. The only interest i have, is their terrible sums and daft terminology which always begins with ...'wasting rent'.

 

[BigStar]

41 minutes ago, noobexpat said:

But they don't  ...they break out the calculator and make themselves look simple again.

 

But doing so seems only on the forum in response to assertions by renters posturing as sophisticates by virtue of flatulence. Nor is that inconsistent with my point about the primary purpose.

 

In my decades of dealing with fellow owners, I've never discussed or heard discussed any plans for profiting from sale of a personal residence. You'll find most will say they that if they ever did sell, they'd hope to break even or thereabouts. You'll sometimes hear the same here from the few owners who bother to wade into the nonsense. But that assumes, as you always do, that they intend to sell at some point. Many, I can affirm, have in fact no such intention: the only way they'll eventually leave their condos is in an ambulance.

 

 

[JimTripper]

CenterPoint & Euro Condominium Complex near Big C Extra Pattaya Klang. 3-4 million range. There is a bulletin board in the lobby with units for sale.

 

Baht bus to Soi Baukhao, or walking around 15-20 minutes. Not super close, but not far either.

[jacko45k]

16 hours ago, Jumbo1968 said:

I couldn’t have put it better, even my Thai wife wouldn’t want me to buy a condo which eventually would be left to her. I had one in the U.K. which I managed to sell recently, I lost at least 5% of the initial purchase price, not a great investment after owning it for 10 years.

Well  changes in the law wrt being a private UK renter make it a challenge. Thailand is not like that.....

[newnative]

On 2/8/2024 at 8:30 AM, Pattaya57 said:

Why is it the people that don't own a condo in Pattaya, and probably never owned a property in their life, always throw out the useless advice to never buy a condo.

 

I feel sorry for you all as buying 5 properties in Aus and 2 condo's in Pattaya is what allowed me to retire at 52

    Could not agree more.  Thank goodness my spouse and I bought condos in the US and then did the same thing when we came here.   8 in the US and even more than that here.  Never lost a penny on any of them, here or in the US.  Instead of living like semi-paupers on my small state pension and SS, we now have a comfortable lifestyle--all because of real estate investments. 

     For the OP, forget the naysayers.  I would say take your time looking and pick a place that's in a location you like and looks like a fun place to get away to for short visits.   I think a lot of projects in the area you like will have some short-term renters--that's pretty much par for the course for the area and the price point.  Since you, yourself, will be sort of a short-term resident from time to time, as well, it might not bother you as much as it would a full-time resident. 

   My spouse and I live in a house on the Darkside.  If we were buying a Pattaya condo to getaway to now and then, I think we would pick something like Riviera Jomtien--which has terrific amenities and it would feel like going to a nice resort every time we stayed there. 

    The View Talays have very reasonable condo fees but not much in the way of amenities.  We liked VT3 as it was not as big as the other projects.  VT6, already mentioned, could possibly be another choice, along with Centric Sea.  I think they have cracked down somewhat on short-term renters at Centric but likely will still have some.   3 pools, 3 gyms, 2 sky lounges and a good location to come into town for events like the annual fireworks.

    Markland might be another choice on Beach Road--an older project but holding its value well as there aren't many condos in that area offering seaviews.  We always bought seaview condos so I don't know much about the lowrise Pattaya condos scattered around the area you are interested in.  Hopefully, some other posters will be able to give you some recommendations for those projects.  Good luck to you!

[newnative]

On 2/8/2024 at 1:13 PM, noobexpat said:

I think its rare that you get a 'condo buyer' who appreciates opportunity cost. Maybe they are just a simple bunch who think bank interest is the lost opportunity. 

 

Expected growth on my funds should be 7%. This is enough to cover rent. At least 1% is what i would call a portability premium - i get to leave when the condo annoys me or it gets old and shabby.

 

I was a homeowner in the west and i don't miss much about it.

 

 

   Once again, it needn't be an 'either or' deal.  Nothing preventing someone from owning property and also having other investments.  Many people, including myself, prefer to own the space they live in, rather than renting someone else's space and renting someone else's taste in furnishings, art, etc.  Trite, perhaps, but true--you do only go around once in life.  I will be living in and enjoying my own space, with all my own possessions, on my go around.

[BigStar]

  

17 hours ago, noobexpat said:

I may u-turn in the future, never say never. Got 30 or 40 yrs ahead of me.

 

Yeah, by that time, even with your inflated sense of your own financial expertise, you surely should be able to afford a condo without sweating the loss of that hoped-for 7% you need to build capital.

[Pattaya57]

1 hour ago, newnative said:

   Once again, it needn't be an 'either or' deal.  Nothing preventing someone from owning property and also having other investments.  Many people, including myself, prefer to own the space they live in, rather than renting someone else's space and renting someone else's taste in furnishings, art, etc.  Trite, perhaps, but true--you do only go around once in life.  I will be living in and enjoying my own space, with all my own possessions, on my go around.

Yep this is why I bought a Pattaya Condo in 2010 and still haven't lived there full time. I just like that I can get on a plane with a carry on only as my condo is fully stocked with clothes and duplicate toiletries

 

Couldn't care less about any "opportunity cost" as I don't spend all the money I earn in bank interest anyway.

[Bobthegimp]

Pride (behind Avenue shopping center) Diana Estates (center of Buakhao) and Whitehouse Condotel (soi 13)come to mind.  PBC is across a parking lot from Whitehouse and houses the Sportsman and Das Berliner in the building.  Center Condo on Pattaya Tai is within staggering distance to Buakhao and songtaews run all night.  A 5 minute walk down to Second Road and a short songtaew ride will get you anywhere you want to go.  

[JimTripper]

On 2/8/2024 at 12:43 PM, Jumbo1968 said:

It depends on how long you want to live in Pattaya, condos are difficult to move on as they become older and more so ones at the lower end of the market, there is a glut of them in Pattaya, certainly not an investment you would make money on if you tried to sell it at a later date.

Put your money into a high interest savings account and use part/interest/interest  to pay rent with the option of moving on if you want to.

My neighbor bought his and it seemed like a dumb idea to me. How long would he want to live here? I'm ready to go before one year. To just retire in one spot is kind of dumb I think. There is no reason for a single guy to be here that long, unless you were working or there was another anchoring factor, when you could live a year on the islands or whatever by renting.

[SAFETY FIRST]

On 2/7/2024 at 1:50 PM, BenStark said:

As the title says I'm looking to buy a 1 bedroom condo, or large studio +50 m², with easy reach to soi Buakhow.

I've got a condo at PKCP, bought it off the plan many years ago. 

 

Never lived in it, had it rented out occasionally. 

 

Great location behind Big C extra, close to town, very low yearly maintenance, got everything going for it. 

 

They sell for reasonable price, check it out. 

 

[BenStark]

59 minutes ago, SAFETY FIRST said:

I've got a condo at PKCP, bought it off the plan many years ago. 

 

Never lived in it, had it rented out occasionally. 

 

Great location behind Big C extra, close to town, very low yearly maintenance, got everything going for it. 

 

They sell for reasonable price, check it out. 

 

 

Thanks, had a quick glance on Hipflat and looks good. Will check it out on the ground after the weekend

[BenStark]

I recall previously when I looked up a condo on Hipflat i could see a price evolution graph from when it was built until today.

 

Now I don't see that graph anymore. Am I confused or are there different versions of hipflat?

 

[Bobthegimp]

1 hour ago, JimTripper said:

There is no reason for a single guy to be here that long

 

No reason?  

 

You must be one of those guys who came for the temples or to take the waters. 

 

Being free to move around is a fine thing, but we are all different ages with  different priorities and levels of wealth.  

[noobexpat]

7 hours ago, newnative said:

   Once again, it needn't be an 'either or' deal.  Nothing preventing someone from owning property and also having other investments.  Many people, including myself, prefer to own the space they live in, rather than renting someone else's space and renting someone else's taste in furnishings, art, etc.  Trite, perhaps, but true--you do only go around once in life.  I will be living in and enjoying my own space, with all my own possessions, on my go around.

 

Agreed and totally understand 

[JimTripper]

3 hours ago, Bobthegimp said:

No reason?  

 

You must be one of those guys who came for the temples or to take the waters. 

 

Being free to move around is a fine thing, but we are all different ages with  different priorities and levels of wealth.  

Have you been to 'The Castle' on 3rd road?