Field Of Dreams

[TizMe]

I have spent the last few days exploring the outskirts of Pattaya and Jomtien.

It seems that shop houses are being built all over the place, even though there are so many derelect shop houses in all the sois down Jomtien Beach after soi Welcome.

Even further up, behind the Jomtien Boathouse, soi 8 or 9, cant remember. there stands a row of shophouses which should be prime real estate, but they are sitting empty and slowly just falling apart.

[Darknight]

Chinese real estate practices.

Build them for 1 mil each , rent them out the first year for 1 mil and then again, again...

Of course no sane person does this so they stay empty. For 20 years if they have to untill some idiot decides to pay it.

What about the large shopping complex in jontiem (after jontiem beach hotel i think) have you ever driven to the back? Hundreds of houses just falling apart.

Or the vacant lot with some shacks on it behind pattaya park ? waiting for thazt 500 million bath real estate developer, in the mean time, garbage dump.

[chingy_]

developer ask for loan for about 500mil build a few dozen home cost about 100mil he pocket the rest of the money, he wouldn't careless what happen to the project, old practice before the crash

[OldAsiaHand]

developer ask for loan for about 500mil build a few dozen home cost about 100mil he pocket the rest of the money, he wouldn't careless what happen to the project, old practice before the crash

<{POST_SNAPBACK}>

Almost right. Don't forget that he also gives the banker who loaned him the money another 100 million or so, and he probably bought the land in the first place from the banker's sister, and the contractor he hired at twice the value of the contract was the banker's brother, and....