prospero Posted August 18, 2008 Share Posted August 18, 2008 There have been many rumors swirling around the Pattya-Jomtien property market. Among them: A developer has recently sold a choice piece of land near Dong Tarn Beach on which he was going to build a condo. Another developer has run out of funds and a very large condo tower is not going to be built. Can anyone comment? Link to comment Share on other sites More sharing options...
Tammi Posted August 18, 2008 Share Posted August 18, 2008 ]There have been many rumors swirling around the Pattya-Jomtien property market. Among them:A developer has recently sold a choice piece of land near Dong Tarn Beach on which he was going to build a condo. Another developer has run out of funds and a very large condo tower is not going to be built. Can anyone comment? I heard both these rumors about 3 weeks ago and my gut feeling is that they probably have substance. Link to comment Share on other sites More sharing options...
lazeeboy Posted August 18, 2008 Share Posted August 18, 2008 not just happening in pattaya ,its happening all over thailand ,its tough in the property market and will be a while before it gets back on its feet Link to comment Share on other sites More sharing options...
basjke Posted August 18, 2008 Share Posted August 18, 2008 Noooo,noooo,real estate is still booming in pattaya.You don't read reports from raimon land and consortium or what? Link to comment Share on other sites More sharing options...
Pdaz Posted August 19, 2008 Share Posted August 19, 2008 Noooo,noooo,real estate is still booming in pattaya.You don't read reports from raimon land and consortium or what? .... Guess he doesn't read the free Pattaya property glossies either..... All the evidence needed to prove the property 'boom' is over can be easily seen over in East Pattaya.... Dozens of half (if you are lucky) built estates... Some more than two years old with the paint peeling off the un-sold houses... And yet more never to be sold houses still being built.. Funny 5 or 6 years ago I used to cycle thru these fields and sometimes spot partly complete relics from the previous boom... ''Oh how the wheel of life turns'' Luckily for Thailand to para phrase a well know saying ''a new one arrives everyday'' Link to comment Share on other sites More sharing options...
bkkjames Posted August 20, 2008 Share Posted August 20, 2008 ]There have been many rumors swirling around the Pattya-Jomtien property market. Among them:A developer has recently sold a choice piece of land near Dong Tarn Beach on which he was going to build a condo. Another developer has run out of funds and a very large condo tower is not going to be built. Can anyone comment? I heard both these rumors about 3 weeks ago and my gut feeling is that they probably have substance. Do you guys have any names regarding these two rumors? Care to share? Link to comment Share on other sites More sharing options...
PattayaParent Posted August 20, 2008 Share Posted August 20, 2008 (edited) Can't you guess? Semaphore signals and one that is not on the shore in the South would be my guesses. Edited: Typos Edited August 20, 2008 by PattayaParent Link to comment Share on other sites More sharing options...
Madame Posted August 20, 2008 Share Posted August 20, 2008 I heard both these rumors about 3 weeks ago and my gut feeling is that they probably have substance. I think you are right Tammi. Those with semaphore signals on the Dongtan Beach seemed to do nothing with the land except erecting 2 or 3 piles. Searching the developers name on the web resulted a new hit, on a Vietnamese website. Link to comment Share on other sites More sharing options...
wcr Posted August 20, 2008 Share Posted August 20, 2008 Invest in property in Pattaya and Thailand generally at your peril. Link to comment Share on other sites More sharing options...
hm1973 Posted August 20, 2008 Share Posted August 20, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! Link to comment Share on other sites More sharing options...
wcr Posted August 20, 2008 Share Posted August 20, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. Link to comment Share on other sites More sharing options...
LaoPo Posted August 20, 2008 Share Posted August 20, 2008 Noooo,noooo,real estate is still booming in pattaya.You don't read reports from raimon land and consortium or what? Real estate is in a very bad shape..worldwide, not just Pattaya or Thailand and going down even further. Don't invest at the moment and don't believe the ones who say real estate is booming... ! It's not. LaoPo Link to comment Share on other sites More sharing options...
Heng Posted August 20, 2008 Share Posted August 20, 2008 Always good news for developers who aren't in hock to the bank. Link to comment Share on other sites More sharing options...
HAPPYCHAPPIE Posted August 20, 2008 Share Posted August 20, 2008 Can't you guess?Semaphore signals and one that is not on the shore in the South would be my guesses. No I cant guess. Come on. Spill the beans. Who is semahore signals? Flag Condos or Flashing lights condos or wot. not on the south shore Is that NorthPoint? Who are you talkin about. Some peeple need to know. Link to comment Share on other sites More sharing options...
faranglandoz Posted August 20, 2008 Share Posted August 20, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. What happened to investors of LaRoyale Condominium, last year? Faranglandoz Link to comment Share on other sites More sharing options...
Eastcoast Posted August 20, 2008 Share Posted August 20, 2008 La Royale has been delayed for various different reasons but most out with the control of the developer. Not really unusual for Thailand. Funny thing is the first unit was transferred to a purchaser today at Sattahip land office. Hopefully over the coming weeks/months most of the main building will be transferred. The beach front apartments should be finished and ready to transfer next year. We were the sole agents for the development and sold over 85% of the tower (1,500,000,000 Bahts worth of units). It is one of the only buildings I have bought in and intend to keep as a long term investment. With the price rises in construction, already these units look incredibly cheap. Where else can you get direct beach front units from around 70,000 Baht per sq.m+ in a new, high tech building. Look at the prices of other new buildings that aren't even on the beach!! Not sure what WCR is trying to insinuate or even if it is La Royale he is talking about?? Maybe you could be more specific...... Regards, David East Coast Real Estate Link to comment Share on other sites More sharing options...
faranglandoz Posted August 20, 2008 Share Posted August 20, 2008 La Royale has been delayed for various different reasons but most out with the control of the developer. Not really unusual for Thailand. Funny thing is the first unit was transferred to a purchaser today at Sattahip land office. Hopefully over the coming weeks/months most of the main building will be transferred. The beach front apartments should be finished and ready to transfer next year. We were the sole agents for the development and sold over 85% of the tower (1,500,000,000 Bahts worth of units). It is one of the only buildings I have bought in and intend to keep as a long term investment. With the price rises in construction, already these units look incredibly cheap. Where else can you get direct beach front units from around 70,000 Baht per sq.m+ in a new, high tech building. Look at the prices of other new buildings that aren't even on the beach!! Not sure what WCR is trying to insinuate or even if it is La Royale he is talking about?? Maybe you could be more specific...... Regards, David East Coast Real Estate Thanks David for your explanation. Faranglandoz Link to comment Share on other sites More sharing options...
wcr Posted August 20, 2008 Share Posted August 20, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. What happened to investors of LaRoyale Condominium, last year? Faranglandoz I made no mention of La Royale. There was another developement called Royal something where the developer ran off with everybodies deposits. The developer was an American called Ian Silver. Link to comment Share on other sites More sharing options...
Eastcoast Posted August 20, 2008 Share Posted August 20, 2008 Think it's faranglandoz that jumped the gun there. Many thanks for the clarification. At least it gave me a legitimate way to promote La Roylale in a round about way!! Thanks, David Link to comment Share on other sites More sharing options...
faranglandoz Posted August 20, 2008 Share Posted August 20, 2008 Think it's faranglandoz that jumped the gun there. Many thanks for the clarification. At least it gave me a legitimate way to promote La Roylale in a round about way!! Thanks, David Sorry about that, I did'nt realise there were several condos with similar names in that area. At least its cleared the air about La Royale. Faranglandoz Link to comment Share on other sites More sharing options...
CGW Posted August 20, 2008 Share Posted August 20, 2008 La Royale may be value for money, but its a pig ugly building IMHO Link to comment Share on other sites More sharing options...
PattayaParent Posted August 21, 2008 Share Posted August 21, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. But now with the new Escrow Law in place why would anyone risk buying from a developer that does not offer such a service? Link to comment Share on other sites More sharing options...
wcr Posted August 21, 2008 Share Posted August 21, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. But now with the new Escrow Law in place why would anyone risk buying from a developer that does not offer such a service? Thats easy for you to say as someone who knows about this. It is the poor farang who has met some bar girl and fallen head over heals in love and wants to buy a place to stay in when he visits and for her to live in, and who does understand the law. They are the ones who will continuously fall prey to the bad developer. Link to comment Share on other sites More sharing options...
faranglandoz Posted August 21, 2008 Share Posted August 21, 2008 La Royale has been delayed for various different reasons but most out with the control of the developer. Not really unusual for Thailand. Funny thing is the first unit was transferred to a purchaser today at Sattahip land office. Hopefully over the coming weeks/months most of the main building will be transferred. The beach front apartments should be finished and ready to transfer next year. We were the sole agents for the development and sold over 85% of the tower (1,500,000,000 Bahts worth of units). It is one of the only buildings I have bought in and intend to keep as a long term investment. With the price rises in construction, already these units look incredibly cheap. Where else can you get direct beach front units from around 70,000 Baht per sq.m+ in a new, high tech building. Look at the prices of other new buildings that aren't even on the beach!! Not sure what WCR is trying to insinuate or even if it is La Royale he is talking about?? Maybe you could be more specific...... Regards, David East Coast Real Estate David you must have bought right at the beginning of the project. The price now is around 115,000 baht m2 for a new sale. Faranglandoz Link to comment Share on other sites More sharing options...
Eastcoast Posted August 21, 2008 Share Posted August 21, 2008 (edited) La Royale has been delayed for various different reasons but most out with the control of the developer. Not really unusual for Thailand. Funny thing is the first unit was transferred to a purchaser today at Sattahip land office. Hopefully over the coming weeks/months most of the main building will be transferred. The beach front apartments should be finished and ready to transfer next year. We were the sole agents for the development and sold over 85% of the tower (1,500,000,000 Bahts worth of units). It is one of the only buildings I have bought in and intend to keep as a long term investment. With the price rises in construction, already these units look incredibly cheap. Where else can you get direct beach front units from around 70,000 Baht per sq.m+ in a new, high tech building. Look at the prices of other new buildings that aren't even on the beach!! Not sure what WCR is trying to insinuate or even if it is La Royale he is talking about?? Maybe you could be more specific...... Regards, David East Coast Real Estate David you must have bought right at the beginning of the project. The price now is around 115,000 baht m2 for a new sale. Faranglandoz Told you they were a good investment!! We still have a few units at close to original day prices on the re-sales. At these prices they are one of the few higher end units that can still justify a rental return.... Getting very difficult to find such apartments now. Also buying in at prices others cannot hope to even build for is always a good feeling. If you have any serious interest just send me a pm or directly to <snip> By the way the paint job is being re-done as we speak. Hopefully not such a "pig ugly" building soon. At least the internals are pretty nice and great island views. David Edited August 22, 2008 by Crow Boy removal of weMail address as per forum rules - anyone interested should send a PM to David Link to comment Share on other sites More sharing options...
PattayaParent Posted August 21, 2008 Share Posted August 21, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. But now with the new Escrow Law in place why would anyone risk buying from a developer that does not offer such a service? Thats easy for you to say as someone who knows about this. It is the poor farang who has met some bar girl and fallen head over heals in love and wants to buy a place to stay in when he visits and for her to live in, and who does understand the law. They are the ones who will continuously fall prey to the bad developer. Ah, but that's where the reputable estate agent comes in and gives advice to the buyer? Link to comment Share on other sites More sharing options...
prospero Posted August 21, 2008 Author Share Posted August 21, 2008 <br /> Invest in property in Pattaya and Thailand generally at your peril.<br /><br />And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!!<br /><br /><br />And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand <b>your protection in law is pretty poor against bad developers</b>. Just ask the people who invested in Royal Condominium on Jomtien Beach last year.<br /><br /><br /><br />But now with the new Escrow Law in place why would anyone risk buying from a developer that does not offer such a service?<br /><br /><br />Thats easy for you to say as someone who knows about this. It is the poor farang who has met some bar girl and fallen head over heals in love and wants to buy a place to stay in when he visits and for her to live in, and who does understand the law. They are the ones who will continuously fall prey to the bad developer.<br /><br /><br /><br /><br /><br />Ah, but that's where the reputable estate agent comes in and gives advice to the buyer?<br /><br /><br /><br />How do you know the agent you're dealing with is honest? Link to comment Share on other sites More sharing options...
norrona Posted August 21, 2008 Share Posted August 21, 2008 Invest in property in Pattaya and Thailand generally at your peril. And that from the former owner of a Real Estate Magazine published in Pattaya....now that is scary!!!! And thats why I can say it!!!! But it goes for other places in the world also. Just in Thailand your protection in law is pretty poor against bad developers. Just ask the people who invested in Royal Condominium on Jomtien Beach last year. But now with the new Escrow Law in place why would anyone risk buying from a developer that does not offer such a service? Thats easy for you to say as someone who knows about this. It is the poor farang who has met some bar girl and fallen head over heals in love and wants to buy a place to stay in when he visits and for her to live in, and who does understand the law. They are the ones who will continuously fall prey to the bad developer. Ah, but that's where the reputable estate agent comes in and gives advice to the buyer? slightly off topic but I used to sell real estate in pattaya, you say about the agent giving advice...well when I used to get soppy farangs with their loved one they've known for all of 5 minutes I used to advise them of the different ways of owning a property, nearly every thai girl wants a house, so when I used to explain the company route these old boys used to say 'but she loves me, i want to put it in her name as a present' on topic, 90% of people that came to see me never listened to any advice given as they nearly always had a mate who was in the know upon further questioning their expert mate owned nothing and was what the aussies would call a bludger Link to comment Share on other sites More sharing options...
Humphrey Bear Posted August 22, 2008 Share Posted August 22, 2008 on topic, 90% of people that came to see me never listened to any advice given as they nearly always had a mate who was in the know upon further questioning their expert mate owned nothing and was what the aussies would call a bludger But that just shows how well they're adjusting to life in Thailand. Who ever heard of a thai taking professional advice? They will always discuss the matter with friends and family and take the advice of the one who talks loudest or drinks the most (usually the same person). Link to comment Share on other sites More sharing options...
Guderian Posted August 22, 2008 Share Posted August 22, 2008 on topic, 90% of people that came to see me never listened to any advice given as they nearly always had a mate who was in the know upon further questioning their expert mate owned nothing and was what the aussies would call a bludger But that just shows how well they're adjusting to life in Thailand. Who ever heard of a thai taking professional advice? They will always discuss the matter with friends and family and take the advice of the one who talks loudest or drinks the most (usually the same person). Plus they'll make sure that the house is blessed by monks, so how could anything possibly go wrong? Link to comment Share on other sites More sharing options...
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