15 hours ago, JensenZ said:

In that case, don't even think about it. If they can't fix stuff before new tenants move in, you're in trouble if something needs to be repaired after you've signed the lease... and then you have to ask, what are the chances of getting your deposit back when you leave, with dodgy landlords or agents?

Spot on.  Now, image owning a condo in that block, under that management. 

19 minutes ago, KhunHeineken said:

Sounds like a solid "investment." 

Some guy that entrusted his investment to other people to take care of and manage while he lived abroad.

 

He would get a really low price if he ever decided to sell, espcially with the wall cracks. He would need to be around to make sure the place was presentable or anyone he paid would probably not due much work or just pocket the money. He is probably too old to want to bother with it anymore.

 

One good thing about having a long term tenant on a year lease is they will sometimes fix up and beautify the property because they are living there, and/or buy new furniture, if you're lucky. They also serve as a kind of agent for the owner who can communicate with building staff, etc when something needs fixing. All stuff the owner would not need to hire someone for. A caretaker, basically.

 

 

15 hours ago, newnative said:

Yes, both the scale and the number of projects.

Yet, you continually post of no oversupply here, and no effect on property prices.  

14 hours ago, newnative said:

 I was just using the 2 bedroom as an example, as I did with the car example using Honda CR-V and Toyota Camry. 

I forgot, you also sold used cars in the past as well. 

14 hours ago, topt said:

The continual twisting of the narrative is unfortunately a trait of certain posters..

No twisting of the narrative.

 

This link is from data provided by the BoT. 

 

https://www.globalpropertyguide.com/asia/thailand/price-history

 

"The condominium segment experienced a notable deceleration, with price growth slowing from 7.20% year-on-year in Q3 2024 to 2.46% (1.45% inflation-adjusted) in Q4 2024."

 

Care to comment on the stats and graphs in the link? 

42 minutes ago, KhunHeineken said:

Yet, you continually post of no oversupply here, and no effect on property prices.  

     I have never posted either of the above.  What I have said, which you keep ignoring, is that I have been able to find a buyer for the properties I have put up for sale since 2010, both houses and condos, in Pattaya.  I have also said that buyers should be buying because they prefer to own their space, with the acceptance that their condo may not gain in value.  I accept that, because I prefer to own.  If you don't, just rent.

      What I have explained, numerous times, which you also ignore, is why I have been able to find a buyer--for a house here, for a VW Beetle for sale in the US, for condos for sale here and in the US, etc., etc.  In each case, you are not competing with 'thousands'--whatever you are selling.  You are only competing with like products.  My VW sale was not competing with all the SUVs listed for sale.  My 3 bedroom seaview condo I sold in Wongamat was not competing with every studio on the market in Pattaya, just other 3 bedroom seaview condos on the market in Wongamat.  

     It's certainly true that there are more 1 bedrooms built in Pattaya than 2 or 3 bedrooms so there is more supply of them.  I would say there are also more buyers for 1 bedrooms than 2 or 3 bedrooms and, one hopes, enough to meet the supply.  If that is a worry, again, rent.

    But, even with the 1 bedrooms, you are only generally competing with other one bedrooms in a specific area, not studios, 2 bedrooms or 3 bedrooms.   When other buyer wants are punched in, such as seaview, large balcony, covered parking, pool, air-conditioned gym, foreign quota, and so on, the list narrows, as does your competition.  

14 hours ago, newnative said:

Thanks, appreciate it.  I'm wondering if he might be the reincarnation of another poster I also used to spar with many moons ago called Leaver, who was similar in many ways. 

No reincarnation here.  I became a member in Jan 2011, way before I started living here full time.  

 

Contrary to your belief, many share a similar opinion to myself, and it's not based on negativity or conspiracy theories, it's based on the reality on the ground here, which includes a mix of the many things I have posted. 

 

One thing I have not expanded on too much, and it is because it is one of the biggest unknown factors when making a decision to buy here, and one which you seemed to agree with, was the big question of life expectancy.  Buying a "forever condo" in Thailand comes with the unknown factor of how long will one live for?  

 

If one was to buy some run down shoe box studio for cheap, and pass away a few years later, they may realize a financial benefit on paper.  Of course, they are dead, so they don't get to realize any actual benefit should the total monthly rent exceed the purchase price. 

 

If one was to buy a higher end condo for many millions of baht, and pass away a few years later, have they got a return on the money they have put down for the property, when compared to renting the exact same property, no.  

 

It's not being negative to discuss the above.  We will all die one day, and when buying a property in one's late 60's, life expectancy must be considered.  

 

I know one guy here who has implemented an interesting work around.  He bought a condo in his son's name, so upon his passing, there's no problems, it's still his son's.  (the son is a farang)  I've met his son, as he frequently holidays in Thailand, so in this case, I agree buying was not a bad idea, as the property ownership would / should benefit two generations, given their relationship remains stable, and so does Thai foreign property ownership, and Thai visa laws remain stable as well. 

 

I know what it feels like to experience the satisfaction of owning a property.  That feeling of stability and control over one's micro environment.  Yes, in a way, the ability for one to hang their "Chinese wall art."  This feeling, or "sentiment" is something I know I personally would not feel by owning a property in Thailand.  I, and many of my friends, would feel the opposite.  I would feel it's a risk.  I would feel tied down.  I would feel at the mercy of changes to policy in Thailand.  I would feel a sense of loss of freedom of movement.  Notice none of the previous have anything to do with making money and whether the condo is an appreciating asset.  

 

People of the current retiree generation have matured with the theory "rent is dead money."  Given all the things discussed by myself, pro renting, and yourself, pro owning, how applicable is the "rent is dead money" theory in Thailand really?  

 

I have no problem with people who chose to buy, I just challenge their notion that their property is an "investment."  In many cases, one is gambling with life expectancy.  Then, you have the many other things as previously discussed to consider. 

 

Life expectancy is an unknown, however, math can still be applied to age ranges of our own mortality.  Indeed, life insurance companies pay actuaries to project life expectancy and premiums payable.  Applying this math is nothing new. 

 

If one pays X amount for a condo, and does the math on several life expectancy models, and then compare it to renting the exact same condo, or a very similar condo, and the math reveals one has to live to say 95 years of age before buying puts them financially ahead, then you can see it makes no sense to buy, as there's not many 95 year old around. 

 

Of course, there's the "I want to leave something for the Thai missus when I go" motive, which I am happy to discuss, and it has been touched on, but that discussion may be for another thread.   

 

I also touched on a catastrophic injury / illness.  Eg. stroke.  This may see someone have to return back to their home country for free, government provided, long term health care.  This may also see one unable to realize a benefit of buying, as opposed to renting. 

 

Your OP title is "Pattaya Condos: History and Future."  

 

I'll post the link again.  

 

  https://www.globalpropertyguide.com/asia/thailand/price-history

 

"The condominium segment experienced a notable deceleration, with price growth slowing from 7.20% year-on-year in Q3 2024 to 2.46% (1.45% inflation-adjusted) in Q4 2024."

 

So, firstly, is the above link from a credible source?  If so, the data sheds some light on your OP title, does it not? 

1 hour ago, KhunHeineken said:

I forgot, you also sold used cars in the past as well. 

No, but how buying/selling and supply/demand works is the same.

6 minutes ago, newnative said:

I have never posted either of the above.

These were your words, "Yes, both the scale and the number of projects." 

 

So, is there a large number of large condo blocks being built here?  If yes, it's more oversupply, if no, you have contradicted yourself. 

 

You want to portray supply is equaling demand, thus a buoyant condo market, but I have posted a credible link showing nation wide this is not the case. 

4 minutes ago, newnative said:

No, but how buying/selling and supply/demand works is the same.

Yes, it's called market forces, but with no proper town planning laws here, developers can build as many condo's as they want. 

1 hour ago, KhunHeineken said:

Care to comment on the stats and graphs in the link? 

Nope.

I really don't get why you continue to almost attack the OP. It is like you just want to score points.

To me it is Infantile and tiresome but presumably some must be enjoying it.............  

3 hours ago, KhunHeineken said:

Should they ever seriously crackdown and stop the use of agents in this manner, I'll make a decision on my future in Pattaya / Thailand. 

 

I have always said, Vietnam is my Plan B for anything that may happen in Thailand.  This came to the forefront when the 180 days and remitted funds policy hit the media. 

 

I decided if they went hard at it, it was 179 days in Thailand, 179 days in Vietnam, and the few days short would be in Singapore, for the Formula 1 race, which I go to anyway. 

 

Once again, renting gives this flexibility and freedom of movement, with no capital tied up in a Thai property.  It's one thing to own a condo here, it's another thing to have a visa to live in it all year round, and free from remittance tax.  

Leaver always used to bang on about Vietnam, maybe he left or is it you? 

3 hours ago, KhunHeineken said:

Should they ever seriously crackdown and stop the use of agents in this manner, I'll make a decision on my future in Pattaya / Thailand. 

 

I have always said, Vietnam is my Plan B for anything that may happen in Thailand.  This came to the forefront when the 180 days and remitted funds policy hit the media. 

 

I decided if they went hard at it, it was 179 days in Thailand, 179 days in Vietnam, and the few days short would be in Singapore, for the Formula 1 race, which I go to anyway. 

 

Once again, renting gives this flexibility and freedom of movement, with no capital tied up in a Thai property.  It's one thing to own a condo here, it's another thing to have a visa to live in it all year round, and free from remittance tax.  

I wonder if they do tax foreclosures on property here. All these foreigners who own condo's and plan on ignoring tax filing here could have the property siezed, even if they purchased years ago.

1 minute ago, Mark1969 said:

I wonder if they do tax foreclosures on property here. All these foreigners who own condo's and don't plan on filing taxes here could have the property siezed, even if they purchased years ago.

What's much more likely is those who have bought in company name get trouble

2 hours ago, scubascuba3 said:

Leaver always used to bang on about Vietnam, maybe he left or is it you? 

 

100% Leaver, only realised it reading this thread, all his old chestnuts in one place. For whatever reason I remember newnative's enjoyment and success with his property development hobby and ownership here used to really trigger him. 

 

Trying to call the future of the Pattaya direction of the property market is probably well nigh impossible given the sheer geographic and demographic diversity of the customers it attracts. Put simply, there is no typical buyer in my view.  I haven't heard of any of the recent major developments struggling to sell out even though the prices are way above what I'd consider good value.  So there still seems to be a demand from somewhere as far as I can see.

 

Still no 1 year visa in Vietnam yet Leaver 😂

 

 

 

 

5 hours ago, KhunHeineken said:

No reincarnation here.  I became a member in Jan 2011, way before I started living here full time.  

 

Contrary to your belief, many share a similar opinion to myself, and it's not based on negativity or conspiracy theories, it's based on the reality on the ground here, which includes a mix of the many things I have posted. 

 

One thing I have not expanded on too much, and it is because it is one of the biggest unknown factors when making a decision to buy here, and one which you seemed to agree with, was the big question of life expectancy.  Buying a "forever condo" in Thailand comes with the unknown factor of how long will one live for?  

 

If one was to buy some run down shoe box studio for cheap, and pass away a few years later, they may realize a financial benefit on paper.  Of course, they are dead, so they don't get to realize any actual benefit should the total monthly rent exceed the purchase price. 

 

If one was to buy a higher end condo for many millions of baht, and pass away a few years later, have they got a return on the money they have put down for the property, when compared to renting the exact same property, no.  

 

It's not being negative to discuss the above.  We will all die one day, and when buying a property in one's late 60's, life expectancy must be considered.  

 

I know one guy here who has implemented an interesting work around.  He bought a condo in his son's name, so upon his passing, there's no problems, it's still his son's.  (the son is a farang)  I've met his son, as he frequently holidays in Thailand, so in this case, I agree buying was not a bad idea, as the property ownership would / should benefit two generations, given their relationship remains stable, and so does Thai foreign property ownership, and Thai visa laws remain stable as well. 

 

I know what it feels like to experience the satisfaction of owning a property.  That feeling of stability and control over one's micro environment.  Yes, in a way, the ability for one to hang their "Chinese wall art."  This feeling, or "sentiment" is something I know I personally would not feel by owning a property in Thailand.  I, and many of my friends, would feel the opposite.  I would feel it's a risk.  I would feel tied down.  I would feel at the mercy of changes to policy in Thailand.  I would feel a sense of loss of freedom of movement.  Notice none of the previous have anything to do with making money and whether the condo is an appreciating asset.  

 

People of the current retiree generation have matured with the theory "rent is dead money."  Given all the things discussed by myself, pro renting, and yourself, pro owning, how applicable is the "rent is dead money" theory in Thailand really?  

 

I have no problem with people who chose to buy, I just challenge their notion that their property is an "investment."  In many cases, one is gambling with life expectancy.  Then, you have the many other things as previously discussed to consider. 

 

Life expectancy is an unknown, however, math can still be applied to age ranges of our own mortality.  Indeed, life insurance companies pay actuaries to project life expectancy and premiums payable.  Applying this math is nothing new. 

 

If one pays X amount for a condo, and does the math on several life expectancy models, and then compare it to renting the exact same condo, or a very similar condo, and the math reveals one has to live to say 95 years of age before buying puts them financially ahead, then you can see it makes no sense to buy, as there's not many 95 year old around. 

 

Of course, there's the "I want to leave something for the Thai missus when I go" motive, which I am happy to discuss, and it has been touched on, but that discussion may be for another thread.   

 

I also touched on a catastrophic injury / illness.  Eg. stroke.  This may see someone have to return back to their home country for free, government provided, long term health care.  This may also see one unable to realize a benefit of buying, as opposed to renting. 

 

Your OP title is "Pattaya Condos: History and Future."  

 

I'll post the link again.  

 

  https://www.globalpropertyguide.com/asia/thailand/price-history

 

"The condominium segment experienced a notable deceleration, with price growth slowing from 7.20% year-on-year in Q3 2024 to 2.46% (1.45% inflation-adjusted) in Q4 2024."

 

So, firstly, is the above link from a credible source?  If so, the data sheds some light on your OP title, does it not? 

       I'm 73.  Spouse and I recently bought a house, to be our in-between house to live in for maybe 10 months to a year while we build what might be our 'forever' house.  I didn't once give a thought to my age, nor did I once give a thought to renting for those 10 or 12 months.

     I don't live my life focused on actuarial life tables and life expectancy models.  Nor do I let them, or things like a possible catastrophic illnesss somewhere down the road, or tomorrow, govern my decisions.  In my opinion, that's no way to live.  When I hit a certain age I didn't say to myself, ok, it's over, you're not allowed to do this or that any more.  If I want to buy a property at 73, I will.

     And, when I buy a property, the last thing I would ever be doing is calculating how many years I need to live in it to make it worth my while--living in it is making it worth my while, from the getgo.   But, that's me.   If owning here would make you feel 'at risk', for heaven's sake just keep renting--but leave us owners alone.  

    I have no idea if your link is credible, nor how it 'sheds some light' on my OP title.  It seems from your link that condo prices are not rising as much as before.  But, from your link, they are still rising.   I do think if I had posted this link you would have pounced on it and immediately accused me of hyping condo ownership, which I actually don't do.  What I always say is whatever floats your boat.  That's nice to know that condo prices are rising a bit, if one is focused on return on investment.  I am not--I am focused on having a nice roof over my head that I own, whatever my age, wherever I am.

6 hours ago, KhunHeineken said:

These were your words, "Yes, both the scale and the number of projects." 

 

So, is there a large number of large condo blocks being built here?  If yes, it's more oversupply, if no, you have contradicted yourself. 

 

You want to portray supply is equaling demand, thus a buoyant condo market, but I have posted a credible link showing nation wide this is not the case. 

Wow, seriously?  You're really reaching--how you were able to extrapolate all that from my innocuous remark I'll never know.  Remind me to never post, "It's a nice sunny day."  You'll either have me shamelessly hawking solar power or a rabid climate change denier. 

11 hours ago, kinyara said:

 

Indeed, I just had a look at the period I am talking about and KhunHeineken's Australian $ rental budget has declined by 35% when he has converted his " risk free " 5% bank interest to Thai baht. 

 

If his 5% bank interest afforded him a 20,000 baht a month rental condo in 2005, it would only get him a 13,000 baht a month unit in 2025.

 

Strange how people never mention one of the single biggest factors involved in an overseas economic decision when it works against them 

Couldn’t get 5% risk free (bank interest) a few years ago either

21 hours ago, topt said:

Nope.

That's because it doesn't fit your narrative, right?  The OP is the same.  Raw data from the BoT and deflects commenting on it. 

 

21 hours ago, topt said:

I really don't get why you continue to almost attack the OP.

I am not attacking the OP.  The OP is notorious for starting these property threads talking up the property market here.  He has a conflict of interests.  By his own admission, he flips property here.  He starts posts on here to try to give perspective buyers confidence in the market.  

 

Real Estate Agents are in the Top 10 most hated professions by people. 

 

https://www.thetoptens.com/jobs/hated-professions

 

The OP is an illegal real estate agent here, and starts these these threads to mislead readers. 

 

The OP started the thread.  Like any other thread, there will be people who agree and people who disagree. 

 

21 hours ago, topt said:

To me it is Infantile and tiresome but presumably some must be enjoying it.

Why do you seek to shut down the debate? 

 

I post stats, data, examples, to give some balance to the famous buying v renting debate here.

20 hours ago, scubascuba3 said:

Leaver always used to bang on about Vietnam, maybe he left or is it you? 

I not familiar with Leavers.  I posted on the many "Thailand Tax" threads in the Property and Finance forum, it would be over a year ago, that if Thailand really goes hard at taxing foreigners on remittances, I would do 6 months in Thailand and 6 months in Vietnam.  I wasn't the only member who saw Vietnam as an alternative to Thailand. 

 

I've been to Cambodia many times, but wouldn't want to live there.  Laos is landlocked.  Malaysia is a moderate Islamic nation, but not much party there.  Singapore no freedom and expensive.  Bali is full of Aussie bogans.  That left Vietnam. 

 

I minimized my remittances and paid a small amount of tax, just to get some documents proving so.  I did this because I don't trust the Thai government and / or Thai officials.  I was not in the "do nothing, they can't enforce it" camp.   

 

So, I'm still in Pattaya, but should Thailand ever go pear shaped, I will move to Vietnam.

20 hours ago, Mark1969 said:

I wonder if they do tax foreclosures on property here. All these foreigners who own condo's and plan on ignoring tax filing here could have the property siezed, even if they purchased years ago.

I'm not suggesting Thailand / the TRD has the same policy as Australia / the ATO, but in Australia, the ATO is the biggest creditor and winds up more companies, and sends more people into bankruptcy, than any other creditor. 

 

https://www.afsa.gov.au/about-us/statistics-and-insights/system-insights/state-personal-insolvency-system

 

"The ATO is the largest creditor in the personal insolvency system with $2.5 billion in liabilities during 2023–24, including $1.7 billion for business-related and $0.8 billion for non-business-related personal insolvencies."

 

It would be boarding on scaremongering to suggest, given many foreigners hold property in a company structure, that if a foreigner didn't pay tax, their company could be wound up and the company's assets seized to pay the tax liability, but I don't rule out anything in Thailand.  It's not a stable country and things can change very quickly here. 

21 hours ago, scubascuba3 said:

What's much more likely is those who have bought in company name get trouble

That's always been the risk they take. 

 

In my opinion, the Chinese will push the boundaries of this to the point the Thai government might put a broom through the system, which may also scoop up expat retirees. 

19 hours ago, kinyara said:

100% Leaver, only realised it reading this thread, all his old chestnuts in one place. For whatever reason I remember newnative's enjoyment and success with his property development hobby and ownership here used to really trigger him. 

 

As I said in another post, I am not familiar with Leavers.  Their chestnuts are the same chestnuts for the buying v renting debate that many, including myself, put forward.  They are nothing new.  Ask any renter why they chose to rent and not buy and they will tell you all the same chestnuts. 

 

I have never said newnative did not have any success flipping properties.  I have challenged his notion than an expat buying a property here is a good "investment" and I have posted my reasons, backed up by links, data, stats, and examples.  All the OP posts is his opinion and experience.  

 

19 hours ago, kinyara said:

Trying to call the future of the Pattaya direction of the property market is probably well nigh impossible given the sheer geographic and demographic diversity of the customers it attracts. Put simply, there is no typical buyer in my view. 

Aren't you contradicting yourself?  On one hand, you agree with newnative, and point to his success flipping properties, then on the other hand, say it's impossible to pick the direction of the property market here?  Does that mean you agree it's possible the market becomes stagnant, or dips?  (note - I have never suggested collapse)  

 

19 hours ago, kinyara said:

I haven't heard of any of the recent major developments struggling to sell out even though the prices are way above what I'd consider good value.  So there still seems to be a demand from somewhere as far as I can see.

This is a really strange comment.  As usual, I will explain why.

 

So, I go to the Baht Sold website and punch in "real estate - apartments / condos for sale - Pattaya."  The very first one on the list is titled "A million dollar view from The Vision."  

 

Here's the link.  (note - the ad may have slipped by the time you open the link, but it was the first one on the list at the time of this post)

 

  https://www.bahtsold.com/quicksearch2?c=11&ca=88&pr_from=0&pr_to=NULL&top=0&s=

 

So, I Google "The Vision Condo Pattaya" and the first online real estate agent that is sponsored is in the below link.

 

https://www.thailand-property.com/condo/3176/the-vision

 

This appears at the top.

 

The Vision

 Pattaya , Chonburi

FOR SALE (35 units ) starting from ฿ 1,995,000
FOR RENT (6 units ) starting from ฿ 12,500

 

"The Vision is a condo project The Vision construction was completed in 2016. The Vision has 23 floors and contains 42 total units, Units range from Studio to 2 bedroom."

 

For the record, I am not familiar with the building.  I have never stepped foot in there.  35 units for sale in a block of 42, and less than 10 years old.  That's a high percentage of vacant units. 

 

I did not cherry pick the above.  It's was the first ad on Baht Sold. 

 

So, I scrolled down Baht Sold and I saw an ad for Wongamat.  The OP mentioned Wongamat, so I did the same.

 

Same first page on Baht Sold as the above link.  The title is "Special Off - Riviera Wongamat." 

 

I Google "The Riviera Condo Wongamat" and the forth website down is the same online agent as above. 

 

Here's the link.

 

https://www.thailand-property.com/condo/2985/the-riviera-wongamat

 

This appears at the top.

 

The Riviera Wongamat

 Pattaya , Chonburi

FOR SALE (228 units ) starting from ฿ 2,300,000
FOR RENT (122 units ) starting from ฿ 12,000

 

"The Riviera Wongamat is a condo projectThe Riviera Wongamat construction was completed in 2017. and contains 321 total units, Units range from Studio to 3 bedroom."

 

321 units and 228 are for sale, and it's also less than 10 years old.  That's a high percentage.  Once again, I have never stepped foot in that building. 

 

There above are two random selections, but it's a common theme.  I can post example after example of the same. 

 

So, is the above struggling to sell, or not? 

 

19 hours ago, kinyara said:

Still no 1 year visa in Vietnam yet Leaver

I don't know what Leavers' idea was, but as I said in another post, if Thailand was serious about taxing remittances, it was 6 months Thailand and 6 months Vietnam for me.  I posted this over a year ago on various Thailand Tax threads, with some others posting they would do the same.  I explained my choice of Vietnam in another post.  I know Vietnam does not have a retirement visa, but all I was going to do was 179 days a year in Thailand so I wasn't a resident of Thailand for tax purposes. 

16 hours ago, newnative said:

I didn't once give a thought to my age,

Do you think newly retired expats to Thailand, who are weighing up the pros and cons of buying, versus the pros and cons of renting, should take their age into consideration?  If yes, why, and if no, why?

 

17 hours ago, newnative said:

Nor do I let them, or things like a possible catastrophic illnesss somewhere down the road, or tomorrow, govern my decisions.  In my opinion, that's no way to live. 

Do you have health insurance?  If so, that contradicts your statement, as insurance is there to cover the unforeseen, and if not, many would view that as irresponsible.  

 

17 hours ago, newnative said:

And, when I buy a property, the last thing I would ever be doing is calculating how many years I need to live in it to make it worth my while--living in it is making it worth my while, from the getgo. 

You state buying a property here is a good investment.  Who invests in anything without considering the return on investment / profit.  You are changing your narrative now to focus on a property being a "home" and not an investment. 

 

Are you advocating buying to be a home, an investment, or both?  If an investment, or both, why is it not prudent for one to factor in their age, thus the amount of years they have the use of the asset?

 

17 hours ago, newnative said:

If owning here would make you feel 'at risk', for heaven's sake just keep renting--but leave us owners alone.  

You started the thread.  I had no idea it was only open to owners.  What would be the point of that, owners already own.  What would there be to discuss? 

 

Are you suggesting they sell and upgrade?  Are you suggesting they sell and downgrade?  Are you suggesting they cash out and rent?  What is the purpose of your thread if it's only for owners?  I bet your thread doesn't exclude perspective buyers.  

 

17 hours ago, newnative said:

I have no idea if your link is credible, nor how it 'sheds some light' on my OP title.  It seems from your link that condo prices are not rising as much as before.  But, from your link, they are still rising. 

The data comes from the BoT.  Condo prices are declining.  The data shows that.  The condo market could decline more, could flatten out, or start to rise.  The whole time, more and more condo's are coming onto the market. 

16 hours ago, newnative said:

Wow, seriously?  You're really reaching--how you were able to extrapolate all that from my innocuous remark I'll never know.  Remind me to never post, "It's a nice sunny day."  You'll either have me shamelessly hawking solar power or a rabid climate change denier. 

I simply pointed out you contradicted yourself. 

 

You say there's no oversupply in condo's here, but then agree there are many large condo blocks under construction.  Scale and number of projects, as you say. 

 

Your argument is the supply meets the demand.  I have shown two random examples in a previous thread of high percentages of units for sale in two randomly chosen condo blocks here, and they are building more and more, and larger and larger condo blocks. 

 

What is currently on the market isn't selling, and they are building more. 

16 hours ago, Airalee said:

Couldn’t get 5% risk free (bank interest) a few years ago either

I addressed this.  What I lost in lower interest rates, I made up in higher rents.  

 

https://en.wikipedia.org/wiki/Australian_residential_rental_market

 

"Rental prices grew nationally by 10.1% between 2022 and 2023; substantially higher than the annualised CPI rate of 7% for the period."

 

How much money did your condo here make you a few years ago?  It only made you what you could rent it for, which I guarantee is nowhere near what I rent my properties for in Australia. 

 

Now, the rents are still high, and bank interest is 5%, meanwhile, your condo here remains the same to you, which is just accommodation value, which also attracts fees, taxes, and maintenance costs. 

46 minutes ago, KhunHeineken said:

For the record, I am not familiar with the building.  I have never stepped foot in there.  35 units for sale in a block of 42, and less than 10 years old.  That's a high percentage of vacant units. 

 

 

46 minutes ago, KhunHeineken said:

"The Riviera Wongamat is a condo projectThe Riviera Wongamat construction was completed in 2017. and contains 321 total units, Units range from Studio to 3 bedroom."

 

I don't know which is correct, but the article which prompted this thread gives the amount of units in The Vision as 221 and the amount in The Riviera Wongamat as 979.

 

Units don't have to be vacant to be for sale.

18 minutes ago, treetops said:

 

 

 

I don't know which is correct, but the article which prompted this thread gives the amount of units in The Vision as 221 and the amount in The Riviera Wongamat as 979.

 

Units don't have to be vacant to be for sale.

 

 

Yes, of course a condo doesn't have to be vacant to be advertised for sale. 

 

These other three links have The Vision at 221 units in the block. 

 

https://www.ddproperty.com/en/project/3950-the-vision-pattaya

 

https://renthai.com/en/the-vision

 

https://www.fazwaz.com/projects/thailand/chon-buri/pattaya/nong-prue/the-vision

 

These other three links have The Riviera Wongamat at 979 units in the block. 

 

https://www.hipflat.com/projects/the-riviera-wongamat-phsydd

 

https://www.fazwaz.com/projects/thailand/chon-buri/pattaya/na-kluea/the-riviera-wongamat

 

https://pattayaprestigeproperties.com/developments/riviera-wongamat-a

 

 

 

 

On 7/14/2025 at 5:20 PM, newnative said:

We did about seven View Talay condo shells at VT 3, the 5s, and VT7 that didn't even come with a floor. 

https://www.thailand-property.com/condo/3188/view-talay-3

 

View Talay 3

 Pattaya , Chonburi

FOR SALE (36 units ) starting from ฿ 2,400,000
FOR RENT (2 units ) starting from ฿ 17,000

 

https://www.thailand-property.com/condo/3189/view-talay-5

 

View Talay 5

 Pattaya , Chonburi

FOR SALE (117 units ) starting from ฿ 2,200,000
FOR RENT (46 units ) starting from ฿ 14,000

 

https://www.thailand-property.com/condo/16298/view-talay-condo-7

 

View Talay Condo 7

 Chonburi

FOR SALE (35 units ) starting from ฿ 3,150,000
FOR RENT (16 units ) starting from ฿ 15,000

 

It's interesting that there's more units for sale than units for rent in the above three condo blocks. 

46 minutes ago, KhunHeineken said:

I addressed this.  What I lost in lower interest rates, I made up in higher rents.  

 

https://en.wikipedia.org/wiki/Australian_residential_rental_market

 

"Rental prices grew nationally by 10.1% between 2022 and 2023; substantially higher than the annualised CPI rate of 7% for the period."

 

How much money did your condo here make you a few years ago?  It only made you what you could rent it for, which I guarantee is nowhere near what I rent my properties for in Australia. 

 

Now, the rents are still high, and bank interest is 5%, meanwhile, your condo here remains the same to you, which is just accommodation value, which also attracts fees, taxes, and maintenance costs. 

Rental prices grew in the USA too.  The multi year rent moratorium certainly didn’t help though.

 

I wouldn’t want to be a long distance (or local) landlord myself and thankfully, I don’t need to look at my choice of housing as an “investment”.

 

That being said….99% of condos here aren’t worth buying IMHO.