Real Estate Whispers

[anothertorres]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5! And, who knows how many empty houses there are in 1 and 3.

Edited August 22, 2008 by anothertorres

[sabang]

Pattaya real estate is not the disaster it's often painted. But it's a buyers market.

Taking the darkside as an example, realistically priced developments done by developers with a track record sell OK. Examples being Greenfield villa's, and Siam Gardens near the Country Club. And the market is Ok for some 'good' estates, like Villa Med, even Paradise Villas- indeed the executive rental market out here is quite strong. I'm surprised how well SP5 has done too- although it is a step up from their previous developments.

The problem is, there is an overhang of 'same same' type properties up for sale on the secondary market in particular- and it seems to me, the prices being asked are often unrealistic. Probably some falang or speculator is looking for his investment money back- sorry guys, you won't get it in the foreseeable future.

[sabang]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5!

Where are they building this one? I noticed they've cleared a lot of land on 'Chicken corner' (Soi Siam & soi Nongprue) recently.

[PattayaParent]

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

Well if you had given me advice to set up an illegal company as a way to own land I would have ignored it also.

And perhaps you ARE one of the many estate agents that advised me to do that.

[poshthai]

Will be a few property developers doing the condo jump soon lol.ONLY JOKING GUYS.

[chuckd]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5! And, who knows how many empty houses there are in 1 and 3.

How many empty houses are there in SP Village 1?

Just curious but if you could provide the answer I would appreciate it.

[norrona]

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

Well if you had given me advice to set up an illegal company as a way to own land I would have ignored it also.

And perhaps you ARE one of the many estate agents that advised me to do that.

do you know anyone who has had their house taken off them as they have it in a company name?

you keep her property in her name mate....after all i bet she is different eh, only work cashier or whatever makes you feel happy

[NotNew2You]

How many empty houses are there in SP Village 1?

Don't know about SP1 as that is sorta a ratty development (their first try) but SPII and SPIII are pretty well full. I rented in SPII for a couple years and out of the 50 or so homes there, about 4-5 (10%) are for rent/sale at any one time. They were decent value if bought off-plan from the developer (around B 3.5M).

Have a friend who bought at SP5. Don't know what he paid...and it's still mostly empty.

[norrona]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5! And, who knows how many empty houses there are in 1 and 3.

How many empty houses are there in SP Village 1?

Just curious but if you could provide the answer I would appreciate it.

that village is one big wash of money.....been known for years

[chuckd]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5! And, who knows how many empty houses there are in 1 and 3.

How many empty houses are there in SP Village 1?

Just curious but if you could provide the answer I would appreciate it.

that village is one big wash of money.....been known for years

I may be confused. Where is SP Village I located? I need to get my bearings correct.

[norrona]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5! And, who knows how many empty houses there are in 1 and 3.

How many empty houses are there in SP Village 1?

Just curious but if you could provide the answer I would appreciate it.

that village is one big wash of money.....been known for years

I may be confused. Where is SP Village I located? I need to get my bearings correct.

theres a few on siam country club road....towards maprachan reservoir

[chuckd]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5! And, who knows how many empty houses there are in 1 and 3.

How many empty houses are there in SP Village 1?

Just curious but if you could provide the answer I would appreciate it.

that village is one big wash of money.....been known for years

I may be confused. Where is SP Village I located? I need to get my bearings correct.

theres a few on siam country club road....towards maprachan reservoir

SP Villages II, III and V are on Siam CC Road. I was looking for the location of SP Village I.

Do either of you two know where number I is located?

NN2Y, can you provide some directions to me?

[PattayaParent]

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

Well if you had given me advice to set up an illegal company as a way to own land I would have ignored it also.

And perhaps you ARE one of the many estate agents that advised me to do that.

do you know anyone who has had their house taken off them as they have it in a company name?

you keep her property in her name mate....after all i bet she is different eh, only work cashier or whatever makes you feel happy

Got a condo im MY name and the missus isn't Thai.

And it's not only married guys that are advised to put houses in company names, single guys are given this illegal advise too just so guys like you who don't care about the consequences in the future can make a few Baht commission.

Edited August 30, 2008 by PattayaParent

[NotNew2You]

Do either of you two know where number I is located?

NN2Y, can you provide some directions to me?

SP1 is a small and decrepit looking mooban located on one of the small sois connecting Nernplubwan and SSCC roads...I can't remember the number. If one is driving out of SP2 on SSCC toward Sukhumvit, at the first intersection (maybe a half kilo or so up from SP2) make a left. This twisty soi eventually connects to Nernplubwan. Drive up a little bit and SP1 will be on the right-hand side of the road. The sign is very small and the development is nothing like the later SP villages...pretty dumpy and therefore easy to miss.

[chuckd]

Do either of you two know where number I is located?

NN2Y, can you provide some directions to me?

SP1 is a small and decrepit looking mooban located on one of the small sois connecting Nernplubwan and SSCC roads...I can't remember the number. If one is driving out of SP2 on SSCC toward Sukhumvit, at the first intersection (maybe a half kilo or so up from SP2) make a left. This twisty soi eventually connects to Nernplubwan. Drive up a little bit and SP1 will be on the right-hand side of the road. The sign is very small and the development is nothing like the later SP villages...pretty dumpy and therefore easy to miss.

Yep, that's where I thought it was. I have a good friend that lives there but I didn't think it was decrepit and dumpy at all. Most of the houses were in the 2.5 million range with a few in the much higher price range.

Guess I just don't know my real estate like you guys do.

[poshthai]

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

Well if you had given me advice to set up an illegal company as a way to own land I would have ignored it also.

And perhaps you ARE one of the many estate agents that advised me to do that.

do you know anyone who has had their house taken off them as they have it in a company name?

you keep her property in her name mate....after all i bet she is different eh, only work cashier or whatever makes you feel happy

Got a condo im MY name and the missus isn't Thai.

And it's not only married guys that are advised to put houses in company names, single guys are given this illegal advise too just so guys like you who don't care about the consequences in the future can make a few Baht commission.

He got that very wrong didnt he lol./ex property developer i assume.

[Tolley]

Do either of you two know where number I is located?

NN2Y, can you provide some directions to me?

SP1 is a small and decrepit looking mooban located on one of the small sois connecting Nernplubwan and SSCC roads...I can't remember the number. If one is driving out of SP2 on SSCC toward Sukhumvit, at the first intersection (maybe a half kilo or so up from SP2) make a left. This twisty soi eventually connects to Nernplubwan. Drive up a little bit and SP1 will be on the right-hand side of the road. The sign is very small and the development is nothing like the later SP villages...pretty dumpy and therefore easy to miss.

Yep, that's where I thought it was. I have a good friend that lives there but I didn't think it was decrepit and dumpy at all. Most of the houses were in the 2.5 million range with a few in the much higher price range.

Guess I just don't know my real estate like you guys do.

Heard there were a few ex Saudi veterans living there?

Was in SP3 last night for a barbecue I think that most of the homes were occupied according to the owner and he has also bought a large block in SP5.

I think he paid 4 million for his house in SP3 and i noticed that they try to get 40k a month rent for these houses that aren't owner occupied. That is a very solid return on a 4million baht investment. Of course that all depends if you can find a tenant.

They are a bit far out for my liking thou.

[chuckd]

Do either of you two know where number I is located?

NN2Y, can you provide some directions to me?

SP1 is a small and decrepit looking mooban located on one of the small sois connecting Nernplubwan and SSCC roads...I can't remember the number. If one is driving out of SP2 on SSCC toward Sukhumvit, at the first intersection (maybe a half kilo or so up from SP2) make a left. This twisty soi eventually connects to Nernplubwan. Drive up a little bit and SP1 will be on the right-hand side of the road. The sign is very small and the development is nothing like the later SP villages...pretty dumpy and therefore easy to miss.

Yep, that's where I thought it was. I have a good friend that lives there but I didn't think it was decrepit and dumpy at all. Most of the houses were in the 2.5 million range with a few in the much higher price range.

Guess I just don't know my real estate like you guys do.

Heard there were a few ex Saudi veterans living there?

Was in SP3 last night for a barbecue I think that most of the homes were occupied according to the owner and he has also bought a large block in SP5.

I think he paid 4 million for his house in SP3 and i noticed that they try to get 40k a month rent for these houses that aren't owner occupied. That is a very solid return on a 4million baht investment. Of course that all depends if you can find a tenant.

They are a bit far out for my liking thou.

I only know one ex-Saudi veteran there. Wonder if it is the same person? Small world sometimes.

[NotNew2You]

I think he paid 4 million for his house in SP3 and i noticed that they try to get 40k a month rent for these houses that aren't owner occupied. That is a very solid return on a 4million baht investment. Of course that all depends if you can find a tenant.

Except for tenant upgrades, the size and floor-plans of the SP2 and SP3 houses are exactly the same 3 BR 3 BA homes on 125 TW of land. SP2 was about 3.3-3.5 stock from the developer. Really crappy construction, however, with windows and doors almost all out of alignment and settlement problems (wall cracks) in some homes (SP2).

I rented in SP2 for a couple years for B 29K per month (furnished). I would say fair value would be B 25-30k per month for a nicely furnished one. Anything over that is sucker money (especially for SP3 which is even further down SSCC road.

[anothertorres]

I can't believe they are clearning land for SP Village 6 (or I'm assuming it will be called) when they haven't even finished SP Village 5!

Where are they building this one? I noticed they've cleared a lot of land on 'Chicken corner' (Soi Siam & soi Nongprue) recently.

You're in the right area. I heard that SP 6(?) is clearing the land across from the little restaurant and hardware store on the right hand side if you're heading away from Sukhumvit. It's not that SP 5 is full of empty houses, as anyone can see, they haven't completed 50% of the houses. The flags out front of SP 5 say 'starting at 2.89m'. Not sure what that equates to as far as monthly rent but they must be making money hand over fist.

Are the SP's all owned by the same Bangladeshi?

[Pattaya46]

La Royale ...

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!!

Hi,

Big problem for me is that La Royale is not in Pattaya

It is far far far at the end of Jomtien

I do not even know if it's yet Jomtien there ?

No bus or bahtbus there, you will need a car or pay for very expensive taxi.

Only a place for old retired people who don't want to move outside their condo.

Not for me...

[Wonderboy]

Hi,

Big problem for me is that La Royale is not in Pattaya

It is far far far at the end of Jomtien

I do not even know if it's yet Jomtien there ?

No bus or bahtbus there, you will need a car or pay for very expensive taxi.

Only a place for old retired people who don't want to move outside their condo.

Not for me...

Different peoples, different views. That is exactly why I bought it. It is not inside Pattaya, yet near. When I want to go to Pattaya, I can get there in 15 minutes, but then again I can escape from Pattaya when I want to as well. It is in a very nice quiet, upscale neighborhood, directly on the beach with no traffic, fresh air and a fantstic sunrise/sunset. I am sure when the building is ready the bathbuses will come as well. And if they dont, who in his right mind would pay 12M++ for a condo, and consider taxi bill of 100-150B a major issue?

And about old people, me and my two friends who also bought there are all 30 something. Possibly that is old in your book, but the kitesurfing base a couple of minutes away coupled with the very nice gym and access to open road with little traffic opens up for a lot more active lifestyle than you can in central Pattaya. Further on there is a lake for wakeboarding not far away and you can enter your sailboat literally from your doorstep.

The city has it's charms too, but I have no need to live smack in the middle of it...

Vagabond

[Basil B]

Any news on Ocean1.

Just went to look at the web cams to see which floor they had reached, but for some reason I get pages not available.

BB

[Guderian]

Any news on Ocean1.

Just went to look at the web cams to see which floor they had reached, but for some reason I get pages not available.

BB

Ocean 1 is still at ground zero.

They are using the site to mix the concrete for VT7.

Some folk doubt that Ocean 1 will get built in the near future.

[Mossfinn]

do you know anyone who has had their house taken off them as they have it in a company name?

Are you suggesting it is legal?

[PattayaParent]

do you know anyone who has had their house taken off them as they have it in a company name?

Are you suggesting it is legal?

The estate agents / developers justify it by saying 'but everyone is doing it so they won't enforce the law 'cos it would cause an International Incident', yeah right!

But I don't know any of these Farang estate agents or developers that own a property in a company name, in fact I only know 1 estate agent that actually owns a property in Pattaya. Says a lot doesn't it.

[faranglandoz]

Hi,

Big problem for me is that La Royale is not in Pattaya

It is far far far at the end of Jomtien

I do not even know if it's yet Jomtien there ?

No bus or bahtbus there, you will need a car or pay for very expensive taxi.

Only a place for old retired people who don't want to move outside their condo.

Not for me...

Different peoples, different views. That is exactly why I bought it. It is not inside Pattaya, yet near. When I want to go to Pattaya, I can get there in 15 minutes, but then again I can escape from Pattaya when I want to as well. It is in a very nice quiet, upscale neighborhood, directly on the beach with no traffic, fresh air and a fantstic sunrise/sunset. I am sure when the building is ready the bathbuses will come as well. And if they dont, who in his right mind would pay 12M++ for a condo, and consider taxi bill of 100-150B a major issue?

And about old people, me and my two friends who also bought there are all 30 something. Possibly that is old in your book, but the kitesurfing base a couple of minutes away coupled with the very nice gym and access to open road with little traffic opens up for a lot more active lifestyle than you can in central Pattaya. Further on there is a lake for wakeboarding not far away and you can enter your sailboat literally from your doorstep.

The city has it's charms too, but I have no need to live smack in the middle of it...

Vagabond

Well said Vagabond, exactly the same reason I have bought there. I don't need beer bars and soliciting ladies around me.

Faranglandoz

[plasticpig]

Well said Vagabond, exactly the same reason I have bought there. I don't need beer bars and soliciting ladies around me.

Well i do. that's the fun of this town.

Edited September 4, 2008 by plasticpig

[Mossfinn]

In answer to the PM recently received:

Do you mean these questions by prospero? If so, I don't know.

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?

do you know anyone who has had their house taken off them as they have it in a company name?

Are you suggesting it is legal?

If you are asking the answer to your question, I do not know anybody who has lost their property that was registered under a company name, but then I Have never asked anybody either.

Mine was a simple question,

Are you suggesting it is legal?

If you are not, fine, it is my understanding it is a little dodgy and there were rumours that there might be a little tightening of the rules, which could be a little disconcerting to those that have/are/contemplating this route.

[Tarqin]

Owning a property through a company is not a little dodgy it is completely illegal. The company is supposed to be a trading company. If it doesn't trade its a paper sham and you can lose your property if investigated.

Do I know anyone who has lost a property? No. There were strong rumours pre-coup that the local politicians were going to take all the property so set up on Samui so they could cash in on the massive price rises there.

The argument is always that the Thais will never do this as it will crash the economy etc. I call this the economists argument.

If you believe that Thais are logical, practical, and plan for the long term then by all means believe this.

Me? I rent. I can afford to buy. I could buy the whole block I live in but I rent. This is for many reasons, the main ones being Pattaya property prices are at least 100% overvalued plus if a lunatic moves in next door I can move out but at the end of the day I am not paying a premium for a property I can list in my own name and I will not buy an asset who's title I can not defend in court.