The Avenue Residence Condo, South Pattaya

[onlooker]

My missus is looking at getting a condo in Pattaya. It would be used for friends and family, late 20s / early 30s age group, as a weekend getaway from Bangkok. They are the type of Thais that enjoy some shopping and a bit of bar hopping and a good night out in Pattaya. So the condo would be bought in a Thai name and using money that hasn't been brought in from abroad. She also wants something that could be rented out easily in maybe a decade's time if the novelty of visiting Pattaya wears off as people get older. So a location & development that appeals to foreigners is also important.

Been thinking about Avenue Residence by Nova Group. Location looks pretty good, easy to walk to Royal Garden and the new Avenue mall, plus not far from Walking Street. Nova also seem to have a good reputation and if buying ina Thai name the price for many units is about a third cheaper than buying in a Farang name. A unit is under 1.5 mill. Info - http://www.novagroupthailand.com/avenue-residence.php

( I've also see the Park which is a bit cheaper but is over in Jomtien, also looking for a smaller development rather than one in a huge complex.)

Anyone else bought here, any obvious downside to the place?

[thaiflyer1]

Anyone else bought here, any obvious downside to the place?

Yes..........it hasn't been built yet.

............but seriously i went passed it last night, at the moment its just a piece of land they are starting to put the foundation piles in by the look of it.........i/d guess you are looking at 18 months before completion.

The location is good, you are central for all amenities and one street back from all the noise on second road.

I would think it would by a good rental unit if you wanted to do that.

There is another condo complex also being built 50m to the right of the Avenue Residence which is much further along.............the shell is up already...........think its name is Pattaya City Garden Condominium.............not sure about the prices though.

Just found this link.........

http://www.fairproperties.com/new_projects_condos.htm

Its an estate agents site but if you scroll down you/ll find City Garden Condos for sale...............looks like they start at 3m baht though...............ont he other hand it is an estate agents site so the true price could be a lot less.

Edited July 2, 2008 by thaiflyer1

[onlooker]

Thanks for the info. I realised Avenue hadn't been built but the Nova Group seem to have a good reputation as a developer so I dont see this as an issue.

Garden City is a bit more expensive, can get something there for around 2.5m but no need / desire to spend that much.

[loopaimod]

Just checked out www.thaiproperty.net from the link on this site. In the new development section on the home page there are many developments that could be considered including Avenue Residence etc?? Actually found a few listings in the search function cheaper than developer prices.... 950,000 for a Suan Suwarn unit!! May be worth checking out. Nice site by the way. In fact one of the best I've seen........ No it's not mine but I do fully recomend and know the company that owns it. I don't often say that about real estate agents.

[Thaifan2]

>>950,000 for a Suan Suwarn unit!! May be worth checking out. <<

Thats in Jomtien .I think all the cheaper units have been sold now .

[thaiflyer1]

There is another condo project being built directly behind the Avenue Shopping complex called "The Pride" it looks to have the majority of the shell up.................prices start at 1.5m baht according to the billboard.

Dont know anything about the constuctor though.

[NotNew2You]

Also a project called "The Urban" in that soi behind the new Avenue Mall complex. I think they have units in your price range.

[onlooker]

Also a project called "The Urban" in that soi behind the new Avenue Mall complex. I think they have units in your price range.

I contacted the Urban last week - only got larger units left now and they weren't interested in a nice discount for Thai ownership. The Pride is from Prinsiri - http://www.prinsiri.com/new/thepride_pattaya/index.shtml . So worth taking a look i think

[sjs]

avenue residence is a great location and the developer Nova has a history of 10 years in pattaya ,and have some nice hotels i see around (smart -5 ice bar and nova park and the new one called nova amari platinum,so i think they have a good reputation and stand out from thai developers, safe bet i have two units

[sjs]

avenue residence is a great location and the developer Nova has a history of 10 years in pattaya ,and have some nice hotels i see around (smart -5 ice bar and nova park and the new one called nova amari platinum,so i think they have a good reputation and stand out from thai developers, safe bet i have two units,suwan suwan,park lane,are in the middle of nowhere and will be hard to sell or rent,location is the key,and ask who the developer is vital to whether it will be compleated or you get what you thought you had reserved,pride and urban are thai developers and thats never an easy ride trust me, good luck

[sjs]

Just checked out www.thaiproperty.net from the link on this site. In the new development section on the home page there are many developments that could be considered including Avenue Residence etc?? Actually found a few listings in the search function cheaper than developer prices.... 950,000 for a Suan Suwarn unit!! May be worth checking out. Nice site by the way. In fact one of the best I've seen........ No it's not mine but I do fully recomend and know the company that owns it. I don't often say that about real estate agents.

project suwan suwarn is in the jomtien area of the beaten track and when the lights are turned of it is isolated and theres no amenities there,the price sounds cheap but that is because of its location and that is the key to rental and resale location,developer,and cost this has only one appeal it is cheap and that is not a good investment in real estate in pattaya.

[billaaa777]

First, buying a condo in a Thai name is a VERY bad idea. You will never sell it and it will never increase in value. Such a small percentage of the condos sold here are sold to Thais it not worth mentioning.

If you wife insist on buying it in her name you should be able to knock 500,000 off the selling price from the developer. Since that is just one more condo they would have not sold anyway. The developers eyes will light up when they see a Thai wanting to buy a condo, since they usually sit empty un-sold.

All the residences are low rise buildings whose prices have not appreciated at all in years. Most of them are not in good locations and require some kind of transportation to live in. They are virtually impossible to sell. I don't know where this one is. But, it sounds like a pretty good location. So, if you were able to get the big discount on it and it is in a location that does not require transportation to live there then I would buy it. If it requires transportation to live there, you can forget about renting it out. Not going to happen.

If you don't get the discount I would buy in View Talay 1A. You can get a Thai owned condo there for around 700 to 750. The same condo next door if owned in a foreign name would run 1.2 million or so. Then put 250 into renovations and you would have a very nice condo for vacations. You should be able to rent it out at least 6 months a year in the high season for some where in the range of 10 to 12 thousand. Long term rentals in Pattaya are next to impossible to get, since the price of condos is so cheap people just buy them. The inside of View Talay 1A has recently been renovated and looks much nicer than before and is one of the best values going now.

[sjs]

First, buying a condo in a Thai name is a VERY bad idea. You will never sell it and it will never increase in value. Such a small percentage of the condos sold here are sold to Thais it not worth mentioning.

If you wife insist on buying it in her name you should be able to knock 500,000 off the selling price from the developer. Since that is just one more condo they would have not sold anyway. The developers eyes will light up when they see a Thai wanting to buy a condo, since they usually sit empty un-sold.

All the residences are low rise buildings whose prices have not appreciated at all in years. Most of them are not in good locations and require some kind of transportation to live in. They are virtually impossible to sell. I don't know where this one is. But, it sounds like a pretty good location. So, if you were able to get the big discount on it and it is in a location that does not require transportation to live there then I would buy it. If it requires transportation to live there, you can forget about renting it out. Not going to happen.

If you don't get the discount I would buy in View Talay 1A. You can get a Thai owned condo there for around 700 to 750. The same condo next door if owned in a foreign name would run 1.2 million or so. Then put 250 into renovations and you would have a very nice condo for vacations. You should be able to rent it out at least 6 months a year in the high season for some where in the range of 10 to 12 thousand. Long term rentals in Pattaya are next to impossible to get, since the price of condos is so cheap people just buy them. The inside of View Talay 1A has recently been renovated and looks much nicer than before and is one of the best values going now.

[sjs]

First, buying a condo in a Thai name is a VERY bad idea. You will never sell it and it will never increase in value. Such a small percentage of the condos sold here are sold to Thais it not worth mentioning.

If you wife insist on buying it in her name you should be able to knock 500,000 off the selling price from the developer. Since that is just one more condo they would have not sold anyway. The developers eyes will light up when they see a Thai wanting to buy a condo, since they usually sit empty un-sold.

All the residences are low rise buildings whose prices have not appreciated at all in years. Most of them are not in good locations and require some kind of transportation to live in. They are virtually impossible to sell. I don't know where this one is. But, it sounds like a pretty good location. So, if you were able to get the big discount on it and it is in a location that does not require transportation to live there then I would buy it. If it requires transportation to live there, you can forget about renting it out. Not going to happen.

If you don't get the discount I would buy in View Talay 1A. You can get a Thai owned condo there for around 700 to 750. The same condo next door if owned in a foreign name would run 1.2 million or so. Then put 250 into renovations and you would have a very nice condo for vacations. You should be able to rent it out at least 6 months a year in the high season for some where in the range of 10 to 12 thousand. Long term rentals in Pattaya are next to impossible to get, since the price of condos is so cheap people just buy them. The inside of View Talay 1A has recently been renovated and looks much nicer than before and is one of the best values going now.

[torrenova]

First, buying a condo in a Thai name is a VERY bad idea. You will never sell it and it will never increase in value. Such a small percentage of the condos sold here are sold to Thais it not worth mentioning.

If you wife insist on buying it in her name you should be able to knock 500,000 off the selling price from the developer. Since that is just one more condo they would have not sold anyway. The developers eyes will light up when they see a Thai wanting to buy a condo, since they usually sit empty un-sold.

All the residences are low rise buildings whose prices have not appreciated at all in years. Most of them are not in good locations and require some kind of transportation to live in. They are virtually impossible to sell. I don't know where this one is. But, it sounds like a pretty good location. So, if you were able to get the big discount on it and it is in a location that does not require transportation to live there then I would buy it. If it requires transportation to live there, you can forget about renting it out. Not going to happen.

If you don't get the discount I would buy in View Talay 1A. You can get a Thai owned condo there for around 700 to 750. The same condo next door if owned in a foreign name would run 1.2 million or so. Then put 250 into renovations and you would have a very nice condo for vacations. You should be able to rent it out at least 6 months a year in the high season for some where in the range of 10 to 12 thousand. Long term rentals in Pattaya are next to impossible to get, since the price of condos is so cheap people just buy them. The inside of View Talay 1A has recently been renovated and looks much nicer than before and is one of the best values going now.

Sorry but you are talking mostly nonsense. Of course you can sell condos in Thai names to westerners. Even if you cannot convert it (unusual but can happen), to direct western ownership, just stick it in a holding company (presuming you are an investor with a few). Higher yields but lower appreciation.

Buy in VT1A ? what on earth for ? Tiny rooms and the public know it. Better in VT2 A or B. 2 pools and much higher yields. More expensive I will agree but much more marketable. Those extra few sqm make all the difference.

You even contradict yourself on transport. On the one hand you say you cannot rent if you require transport then you say buy in Jomtien ?

As for there being no long term rentals in Pattaya then I'm sorry but you don't know what you are talking about. I have rented long term and rented out property long term; out to 3 years actually.

[mariner29]

We have several units to sell in this development pm me if interested.

[customprogress]

First, buying a condo in a Thai name is a VERY bad idea. You will never sell it and it will never increase in value. Such a small percentage of the condos sold here are sold to Thais it not worth mentioning.

If you wife insist on buying it in her name you should be able to knock 500,000 off the selling price from the developer. Since that is just one more condo they would have not sold anyway. The developers eyes will light up when they see a Thai wanting to buy a condo, since they usually sit empty un-sold.

All the residences are low rise buildings whose prices have not appreciated at all in years. Most of them are not in good locations and require some kind of transportation to live in. They are virtually impossible to sell. I don't know where this one is. But, it sounds like a pretty good location. So, if you were able to get the big discount on it and it is in a location that does not require transportation to live there then I would buy it. If it requires transportation to live there, you can forget about renting it out. Not going to happen.

If you don't get the discount I would buy in View Talay 1A. You can get a Thai owned condo there for around 700 to 750. The same condo next door if owned in a foreign name would run 1.2 million or so. Then put 250 into renovations and you would have a very nice condo for vacations. You should be able to rent it out at least 6 months a year in the high season for some where in the range of 10 to 12 thousand. Long term rentals in Pattaya are next to impossible to get, since the price of condos is so cheap people just buy them. The inside of View Talay 1A has recently been renovated and looks much nicer than before and is one of the best values going now.

but arent foreigner not allowed to buy over 50% of units in a building? that would mean thais buy equal number, correct. ? i just bought a condo in bangkok off plans, not finished yet and in 1st phase only 5% are bought by foreigners. 1st phase almost sold out.

[expatgaz]

I think the best value for money currently available is in VT 2 A/B.Its a good building with great location & pool and has some very desperate sellers so bargains are there to be had.You can pick up a 101m2 corner unit for under 3 mil if you know who to ask and that would easily rent for 25k a month.A studio is easy to pick up for no more than 1 mil,which will rent long term at 10k easily.Look around and there's bargains.You will not lose money if your head is on right.

EPG.

[sjs]

There is another condo project being built directly behind the Avenue Shopping complex called "The Pride" it looks to have the majority of the shell up.................prices start at 1.5m baht according to the billboard.

Dont know anything about the constuctor though.

i have had a look today at the avenue residence condo and they have the 8th floor in place on the building on the right hand side and the other 2 are on the first floor now,so nova are racing ahead and told me it will be compleated in december 09 and that their showroom will be open in one month,i really like this location well worth a look.

[yoshiwara]

Sorry but you are talking mostly nonsense. Of course you can sell condos in Thai names to westerners. Even if you cannot convert it (unusual but can happen), to direct western ownership, just stick it in a holding company (presuming you are an investor with a few). Higher yields but lower appreciation.

...and so are you suggesting to buy a Thai apartment in a holding company. A worthless recommendation.

[eljeque]

As The Avenue slows down, is it worthwhile living behind it?

One of the major benefits to all of those new condos behind The Avenue WAS The Avenue.

That might not be so great anymore.

The Avenue is starting to serve as a great parking structure for Pattaya 2nd Road.

[sjs]

As The Avenue slows down, is it worthwhile living behind it?

One of the major benefits to all of those new condos behind The Avenue WAS The Avenue.

That might not be so great anymore.

The Avenue is starting to serve as a great parking structure for Pattaya 2nd Road.

[sjs]

As The Avenue slows down, is it worthwhile living behind it?

One of the major benefits to all of those new condos behind The Avenue WAS The Avenue.

That might not be so great anymore.

The Avenue is starting to serve as a great parking structure for Pattaya 2nd Road.

[Johan78]

If it requires transportation to live there, you can forget about renting it out. Not going to happen.

Long term rentals in Pattaya are next to impossible to get.

What have you been smoking my fiend? I want some too!!!

but arent foreigner not allowed to buy over 50% of units in a building? that would mean thais buy equal number, correct. ?

Yes on the first one and no on the second one, doesn't have to be Thaïs, can also be Thai companies.

...and so are you suggesting to buy a Thai apartment in a holding company. A worthless recommendation.

Can't see that he recommended it, just said it's possible. Worthless or not depends on a lot of things, wouldn't you say?

One of the major benefits to all of those new condos behind The Avenue WAS The Avenue.

Wouldn'd say major, still a pretty good location.

Hopefully that's enough to wake up this thread

I'm still looking in this area so any input from board members buying, living, investing or selling in Pride, Avenue, Urban or City Garden (did I forget any?) would be much appreciated.

Thanks!

// Johan

Edited March 19, 2009 by Johan78

[jack1964]

I have recently purchased a one bedroom condo in The Avenue Residence, and am more than happy with the way things are going. Number 1 is that they are building as promised and on track with the times suggested. Building B will be completed by September or there abouts and the rest of the project by November/ December. The staff at Nova are a pleasure to deal with, and when questions are asked, their response is immediate. As far as the Avenue mall turning into a white elephant, well, aproximately 600 residential units are being built around it, so for convenience sake I would say that the businesses there will be bustling more so than today. A nice mall with all of the day to day needs of the expat or tourist who may be staying in the area. The Avenue Residence is being built to a high standard, and is plum in the middle of alot of what the alure of Pattaya is. A short walk Im on the beach. A short walk and Im amoungst the nightlife, and a short walk home, and a nice quiet position in which to relax. So, if your thinking of The Avenue residence, go down and take a look. Sensational!!!!!

[Johan78]

I have recently purchased a one bedroom condo in The Avenue Residence, and am more than happy with the way things are going. Number 1 is that they are building as promised and on track with the times suggested. Building B will be completed by September or there abouts and the rest of the project by November/ December. The staff at Nova are a pleasure to deal with, and when questions are asked, their response is immediate. As far as the Avenue mall turning into a white elephant, well, aproximately 600 residential units are being built around it, so for convenience sake I would say that the businesses there will be bustling more so than today. A nice mall with all of the day to day needs of the expat or tourist who may be staying in the area. The Avenue Residence is being built to a high standard, and is plum in the middle of alot of what the alure of Pattaya is. A short walk Im on the beach. A short walk and Im amoungst the nightlife, and a short walk home, and a nice quiet position in which to relax. So, if your thinking of The Avenue residence, go down and take a look. Sensational!!!!!

Thanks for the reply Jack! I agree, it is looking very nice. Would have to be a re-sell for me though since, what I understood from the sales rep, all the units facing in have already been sold and with empty land both behind building A and on the other side of the small soi on the back side of building B and a bar on the back side of building C I wouldn't want to buy anything else. 

[sjs]

I have recently purchased a one bedroom condo in The Avenue Residence, and am more than happy with the way things are going. Number 1 is that they are building as promised and on track with the times suggested. Building B will be completed by September or there abouts and the rest of the project by November/ December. The staff at Nova are a pleasure to deal with, and when questions are asked, their response is immediate. As far as the Avenue mall turning into a white elephant, well, aproximately 600 residential units are being built around it, so for convenience sake I would say that the businesses there will be bustling more so than today. A nice mall with all of the day to day needs of the expat or tourist who may be staying in the area. The Avenue Residence is being built to a high standard, and is plum in the middle of alot of what the alure of Pattaya is. A short walk Im on the beach. A short walk and Im amoungst the nightlife, and a short walk home, and a nice quiet position in which to relax. So, if your thinking of The Avenue residence, go down and take a look. Sensational!!!!!