Condos With High Occupancy Rates In Pattaya

[jdrake72]

Apart from the current crisis which is affecting tourism ( I hope in few months things will start to recover), which ares of Pattaya/ construction company / kind of condos in Pattaya are more easy to rent ?

I plan to get a couple of condos there to have a return with the rents and I would prefer a place with a high chance to get full-time occupancy.

Thanks for your advice

[jbaldwin]

I have no detailed knowledge of other condos. However, I live in Thabali - on the road between Pattaya and Jomtien - behind Bruno's resaurant. What seems clear from friends that rent units here is that it is much easier to get long term tennents for the higher end units in the developement than lower end unit. For example, I have a friend that ownes a 106 sqm duplex unit which has been let without any voids for the last two years at 35,000 per month. Small studio unit have a higher rental yeild when let but seems to unoccupied for a greater proportion of the time.

[tattoodrob]

I have no detailed knowledge of other condos. However, I live in Thabali - on the road between Pattaya and Jomtien - behind Bruno's resaurant. What seems clear from friends that rent units here is that it is much easier to get long term tennents for the higher end units in the developement than lower end unit. For example, I have a friend that ownes a 106 sqm duplex unit which has been let without any voids for the last two years at 35,000 per month. Small studio unit have a higher rental yeild when let but seems to unoccupied for a greater proportion of the time.

forgive me if im wrong but i believe you live at Chateau dale....as this is the development behind Brunos,ive never heard of Thabali.....maybe you seen a sign that says thai bali as this is the style there

[Guderian]

Center Condo in South Pattaya probably has the highest occupancy rate in town. It has an "interesting" mix of units, too, with some small cheap studios, and also some very nice big corner units. It has a very active rental market.

Nirun Grand in Central Pattaya is a reasonably-priced place, also quite busy from what I have seen of it.

jbadwin makes a good point: how much money are you willing to risk, and do you prefer to have several small (read: cheap) condos, or put it all into one very up-market unit? Or do you have enough to invest that you can buy a mixture? There are other things to consider. The kind of tenant who will pay 30-40K Baht/month is likely to look after your place. People who can only afford 10K Baht/month may not be quite as considerate about your property. Probably best to talk with one of the reputable estate agents (I can recommend David Gray at East Coast) about the wisest strategy.

[DonTron]

This depends very much on which condo price range you want to enter into.

I found that the high end condos (rental from 50,000 to 85,000 THB month) are less work and more cashflow than having a whole bunch of cheap end ones, even if they take a bit longer to rent.

[jbaldwin]

I have no detailed knowledge of other condos. However, I live in Thabali - on the road between Pattaya and Jomtien - behind Bruno's resaurant. What seems clear from friends that rent units here is that it is much easier to get long term tennents for the higher end units in the developement than lower end unit. For example, I have a friend that ownes a 106 sqm duplex unit which has been let without any voids for the last two years at 35,000 per month. Small studio unit have a higher rental yeild when let but seems to unoccupied for a greater proportion of the time.

forgive me if im wrong but i believe you live at Chateau dale....as this is the development behind Brunos,ive never heard of Thabali.....maybe you seen a sign that says thai bali as this is the style there

Thanks for the help on where I live. However, there are two spearate condo developments behind Bruno. Chateau Dale is the four highrise towers and which are around 15 years old. Thabali is the four six storey buildings at the front around the Oasis spa and the gardens and was finish 4-5 years ago.

[jdrake72]

<br />Center Condo in South Pattaya probably has the highest occupancy rate in town. It has an "interesting" mix of units, too, with some small cheap studios, and also some very nice big corner units. It has a very active rental market. <br /><br />Nirun Grand in Central Pattaya is a reasonably-priced place, also quite busy from what I have seen of it. <br /><br />jbadwin makes a good point: how much money are you willing to risk, and do you prefer to have several small (read: cheap) condos, or put it all into one very up-market unit? Or do you have enough to invest that you can buy a mixture? There are other things to consider. The kind of tenant who will pay 30-40K Baht/month is likely to look after your place. People who can only afford 10K Baht/month may not be quite as considerate about your property. Probably best to talk with one of the reputable estate agents (I can recommend David Gray at East Coast) about the wisest strategy.<br />

<br /><br /><br />

Thanks. I was thinking the first option:few small units, but I see your guys from Pattaya reccomed me the opposit.

So I will re-think my "strategy".

I have not enough for a combination of two, since I also plan to have something in Bangkok.(Pinklao seems good and growing)

[jdrake72]

<br />Center Condo in South Pattaya probably has the highest occupancy rate in town. It has an "interesting" mix of units, too, with some small cheap studios, and also some very nice big corner units. It has a very active rental market. <br /><br />Nirun Grand in Central Pattaya is a reasonably-priced place, also quite busy from what I have seen of it. <br /><br />jbadwin makes a good point: how much money are you willing to risk, and do you prefer to have several small (read: cheap) condos, or put it all into one very up-market unit? Or do you have enough to invest that you can buy a mixture? There are other things to consider. The kind of tenant who will pay 30-40K Baht/month is likely to look after your place. People who can only afford 10K Baht/month may not be quite as considerate about your property. Probably best to talk with one of the reputable estate agents (I can recommend David Gray at East Coast) about the wisest strategy.<br />

<br /><br /><br />

Thanks. I was thinking the first option:few small units, but I see your guys from Pattaya reccomed me the opposit.

So I will re-think my "strategy".

I have not enough for a combination of two, since I also plan to have something in Bangkok.(Pinklao seems good and growing)

[tattoodrob]

I have no detailed knowledge of other condos. However, I live in Thabali - on the road between Pattaya and Jomtien - behind Bruno's resaurant. What seems clear from friends that rent units here is that it is much easier to get long term tennents for the higher end units in the developement than lower end unit. For example, I have a friend that ownes a 106 sqm duplex unit which has been let without any voids for the last two years at 35,000 per month. Small studio unit have a higher rental yeild when let but seems to unoccupied for a greater proportion of the time.

forgive me if im wrong but i believe you live at Chateau dale....as this is the development behind Brunos,ive never heard of Thabali.....maybe you seen a sign that says thai bali as this is the style there

Thanks for the help on where I live. However, there are two spearate condo developments behind Bruno. Chateau Dale is the four highrise towers and which are around 15 years old. Thabali is the four six storey buildings at the front around the Oasis spa and the gardens and was finish 4-5 years ago.

i did say forgive me but ive never heard the name thabali in the time ive lived here or seen a sign for it(will look harder next time im passing) hence i thought chateau dale.....il do a google and see what comes up.sorry

[torrenova]

Having high end condos within a portfolio is good sense but with limited investment, having perhaps all one's eggs in one basket would not be prudent advice.

Smaller units give greater flexibility but they do require more effort. However, yields are higher to compensate. If I guess that the OP has Bt5m or less to invest, then I would go for 3 condos around the Bt1.2 to Bt1.5m range leaving some cash left for minor refurbishment. I would offer fully flexible lets but with the aim of securing a long term tenant.

Just because someone pays Bt10-15k a month does not mean they cannot afford more. Why would a single guy or couple need more than 1 bedroom ? At the last count, I could only sit on one pot at any one time !

[dogleg]

"People who can only afford 10K Baht/month may not be quite as considerate about your property."

Not necessarily so... and also less to wreck/fix in a smaller unit if you do get a bad tenant.

[Guderian]

"People who can only afford 10K Baht/month may not be quite as considerate about your property."

Not necessarily so... and also less to wreck/fix in a smaller unit if you do get a bad tenant.

As a general area of concern it's not unfair, IMHO. The usual two-months deposit on a place costing 10K Baht/month or less won't even cover the replacement cost of a decent TV if the tenant wrecks it, or walks off with it. Ditto air con units, etc. At least if you have a deposit of 60K-80K Baht or more, you have something substantial as a safeguard against a bad tenant.

I'm not getting at people who rent low-cost units, I know quite a few guys doing so, and while most of them are great guys who wouldn't do any damage or steal anything, one or two of them can only be described at best as "eccentric". I certainly wouldn't want them as tenants, anyway. It's just another angle for the OP to consider when he decides what kind of property portfolio he wants to assemble.

[tattoodrob]

"People who can only afford 10K Baht/month may not be quite as considerate about your property."

Not necessarily so... and also less to wreck/fix in a smaller unit if you do get a bad tenant.

As a general area of concern it's not unfair, IMHO. The usual two-months deposit on a place costing 10K Baht/month or less won't even cover the replacement cost of a decent TV if the tenant wrecks it, or walks off with it. Ditto air con units, etc. At least if you have a deposit of 60K-80K Baht or more, you have something substantial as a safeguard against a bad tenant.

I'm not getting at people who rent low-cost units, I know quite a few guys doing so, and while most of them are great guys who wouldn't do any damage or steal anything, one or two of them can only be described at best as "eccentric". I certainly wouldn't want them as tenants, anyway. It's just another angle for the OP to consider when he decides what kind of property portfolio he wants to assemble.

most 10k or under places dont usually have a very expensive tv and unless air con is brand new then its not worth a lot but i think the problem of the cheaper places is that the renter may not care if he loses the smallish deposit of say 20k so he may just leave before a long contract is up and be late wth the rent before he goes so then you have to find a new renter pretty sharp.

its still probably easier just taking care and worrying about getting one place rented at a time so therefore with an investment of say 5 million he could get a 1 bedroom unit somewhere nice.the main concern is keeping it fully rented at all times....not an easy task with the way pattaya/thailand is now.