tackyshoots Posted December 27, 2008 Share Posted December 27, 2008 Hi Class Property Developer Raimon Land is offering it Luxury Property Lofts Southshore in Pattaya at lower price. What does it mean? Is it bad or good? Link to comment Share on other sites More sharing options...
samuibeachcomber Posted December 27, 2008 Share Posted December 27, 2008 Hi Class Property Developer Raimon Land is offering it Luxury Property Lofts Southshore in Pattaya at lower price.What does it mean? Is it bad or good? well it sounds good..................reason? (1) could be aimed at thai trying to fill the 51% quota or (2)business is slow. Link to comment Share on other sites More sharing options...
LennyW Posted December 27, 2008 Share Posted December 27, 2008 Or it could just be that the price of building materials - steel in particular, have fallen dramatically recently in line with the oil / diesel prices??? Link to comment Share on other sites More sharing options...
midas Posted December 27, 2008 Share Posted December 27, 2008 Or it could just be that the price of building materials - steel in particular, have fallen dramatically recently in line with the oil / diesel prices??? Keep up the positive spinning Lenny We all know now what is happening and there is much worse to come in 2009 Link to comment Share on other sites More sharing options...
jimmybkk Posted December 28, 2008 Share Posted December 28, 2008 I was in their sales office over Christmas - prices for the back tower starting from 1.9 million, around 50,000 per sq.m. Not bad if you ask me. I'm tempted. Link to comment Share on other sites More sharing options...
onlooker Posted December 28, 2008 Share Posted December 28, 2008 Nice price reduction from just over 3 million to 1.9 in under 6 months. Se the press releases at the launch when Raimon was boasting about the 120,000 Baht/sqm they had got from the first lucky buyers Link to comment Share on other sites More sharing options...
jimmybkk Posted December 28, 2008 Share Posted December 28, 2008 Agreed - big difference. The lady I spoke to told me that the back tower was always planned to be lower cost than the front tower as the views are not quite as good. She said it was the same at Northpoint. Link to comment Share on other sites More sharing options...
Crash999 Posted December 28, 2008 Share Posted December 28, 2008 Hi Class Property Developer Raimon Land is offering it Luxury Property Lofts Southshore in Pattaya at lower price.What does it mean? Is it bad or good? Lower costs are always good for buyers! The second tower was planned to be less expensive but it looks like they're pricing more aggressively by passing on the lower building costs in order to boost sales. Link to comment Share on other sites More sharing options...
quiksilva Posted December 29, 2008 Share Posted December 29, 2008 Or it could just be that the price of building materials - steel in particular, have fallen dramatically recently in line with the oil / diesel prices??? A valid argument, which could explain the drop quite well, if it wasn't for the fact that Raimon Land pre-ordered all of their required steel to hedge against rising commodity costs early this year. The back tower does not have great views and that might be part of the reason but it will not come as much of a surprise to many here to hear that sales have been slow in Pattaya for almost all developers. Link to comment Share on other sites More sharing options...
ray08 Posted December 29, 2008 Share Posted December 29, 2008 I don,t know much about the Pattay condo market , but a developer is like any other business in that inventory must be sold , looking into 2009 ,no one is predicting a Boom year , so i would imagine by selling stock at a discount would be a good idea ,better to sell at a lower margin that have a massive amounts of units on hand ,which could give potential cash flow problems in 2009 Link to comment Share on other sites More sharing options...
jimmybkk Posted December 31, 2008 Share Posted December 31, 2008 Mods - why not move this to Pattaya Forum. Would be interesting to hear what the people in Pattaya make of this. Link to comment Share on other sites More sharing options...
thaimate Posted January 2, 2009 Share Posted January 2, 2009 Mods - why not move this to Pattaya Forum. Would be interesting to hear what the people in Pattaya make of this. ime in Pattaya,and under no circumstances would i buy now .sorry but i was in the trade and its the way i see it. Link to comment Share on other sites More sharing options...
think_too_mut Posted January 2, 2009 Share Posted January 2, 2009 I don,t know much about the Pattay condo market , but a developer is like any other business in that inventory must be sold , looking into 2009 ,no one is predicting a Boom year , so i would imagine by selling stock at a discount would be a good idea ,better to sell at a lower margin that have a massive amounts of units on hand ,which could give potential cash flow problems in 2009 It's more complicated than that. What about those who were the early buyers? They would not want be happy to know that the neighbours had who paid half or 30% of their price. Until completion, there would be a lot of corners cut, to make the final bill lower for everyone. From less aircons (2 instead of 3) per unit to vanished gazebos and other things that were to make it a 5* dwelling. May well be, what I said + lower prices of the materials and more of available workforce can make it a good place. And completed. Link to comment Share on other sites More sharing options...
GomerPyle Posted January 2, 2009 Share Posted January 2, 2009 I don,t know much about the Pattay condo market , but a developer is like any other business in that inventory must be sold , looking into 2009 ,no one is predicting a Boom year , so i would imagine by selling stock at a discount would be a good idea ,better to sell at a lower margin that have a massive amounts of units on hand ,which could give potential cash flow problems in 2009 It's more complicated than that. What about those who were the early buyers? They would not want be happy to know that the neighbours had who paid half or 30% of their price. Until completion, there would be a lot of corners cut, to make the final bill lower for everyone. From less aircons (2 instead of 3) per unit to vanished gazebos and other things that were to make it a 5* dwelling. May well be, what I said + lower prices of the materials and more of available workforce can make it a good place. And completed. The answer is plain and obvious : becuase it ain;t selling. Link to comment Share on other sites More sharing options...
MeetJohnDoe Posted January 2, 2009 Share Posted January 2, 2009 What about those who were the early buyers? They would not want be happy to know that the neighbours had who paid half or 30% of their price. Early buyers usually don't put up too much of a fuss when later or after completion buyers pay 20-30% more for similar units during "boom" times. Well, now they are finding out that it works both ways. I have seen lots of stuff advertised in the Pattaya press recently for both new and secondary market sales of condos in the 40-50k psm price range (5-star stuff too). If that's the case, seems we're back to much saner price levels (basically wiped-out 5 years of gains like most other places around the world) and might be a good entry point for many people Link to comment Share on other sites More sharing options...
norrona Posted January 2, 2009 Share Posted January 2, 2009 Mods - why not move this to Pattaya Forum. Would be interesting to hear what the people in Pattaya make of this. ime in Pattaya,and under no circumstances would i buy now .sorry but i was in the trade and its the way i see it. same here pal, was there for 2 weeks before christmas and looking into my crystal bAll I predict many half built empty buildings for the future....seriously who wants a condo on 3rd road...as for pratumnak hill, what was once described as the beverly hills of pattaya is slowly dissolving to the moss side of pattaya....the place is a khazi even more so these days....if they can't cook it, eat it or root it....they break it Link to comment Share on other sites More sharing options...
ray08 Posted January 2, 2009 Share Posted January 2, 2009 (edited) I don,t know much about the Pattay condo market , but a developer is like any other business in that inventory must be sold , looking into 2009 ,no one is predicting a Boom year , so i would imagine by selling stock at a discount would be a good idea ,better to sell at a lower margin that have a massive amounts of units on hand ,which could give potential cash flow problems in 2009 It's more complicated than that. What about those who were the early buyers? They would not want be happy to know that the neighbours had who paid half or 30% of their price. Until completion, there would be a lot of corners cut, to make the final bill lower for everyone. From less aircons (2 instead of 3) per unit to vanished gazebos and other things that were to make it a 5* dwelling. May well be, what I said + lower prices of the materials and more of available workforce can make it a good place. And completed. My feeling is you are more on the money when you say "There would be a lot of corners cut" normally if you discount you also try and recoup some profit margin , and recoup a bit everywhere right down to how many layers of paint they use ,So maybe the people buying now will get what they paid for,but the initial investors could find themselves with an inferior product from what they signed up for Edited January 2, 2009 by ray08 Link to comment Share on other sites More sharing options...
mamanoodle Posted January 2, 2009 Share Posted January 2, 2009 Aha! now we know why they maybe had no new year's eve extravaganza this year!! Link to comment Share on other sites More sharing options...
expatgaz Posted January 2, 2009 Share Posted January 2, 2009 Agree 100% abt Pratumnak Hill.Its a total khazi.You've got supposedly high end houses squezzed into a plot with shop houses or condo's metres away.Its looking more and more like a slum everytime I drive round there.The burglary rate I believe is also very very high. The darkside is the answer. EPG. Link to comment Share on other sites More sharing options...
MeetJohnDoe Posted January 3, 2009 Share Posted January 3, 2009 .Its looking more and more like a slum everytime I drive round there.The burglary rate I believe is also very very high.The darkside is the answer. Completely agree! Over development is rampant, sewage and water service has always been a problem there, even when there wasn't much there, and I laugh where I remember all that swill that was said by the real estate folks about how quiet and safe and high-end the area would be due to the fact that the area has in residence a royal personage on occasion. What a load of brown-stuff all that turned out to be. I would say that at least half of all the burglaries, armed robberies, and murders occur in that area...and it's also used as a dumping ground for dead bodies as they are always finding them in the bushes over there. And I won't even mention soi Moscow over there and what it would be like to like in a neighborhood filled with drunken Russian holligans every nite. A friend who ownes a condo in the area says they have constant confrontations with unwanted drunk and not so drunk Ruskies who invade their condo pool from adjoining hotels and guesthouses that don't have one! Link to comment Share on other sites More sharing options...
jrbkk64 Posted January 3, 2009 Share Posted January 3, 2009 Unsubstantiated rumours, but from someone supposedly in "the know", say that Raimon Land is in DEEP trouble and may go under in the first half of this year! Link to comment Share on other sites More sharing options...
prospero Posted January 3, 2009 Share Posted January 3, 2009 Unsubstantiated rumours, but from someone supposedly in "the know", say that Raimon Land is in DEEP trouble and may go under in the first half of this year! I've heard the same rumours. No sales = no cashflow = probable bankruptcy. Link to comment Share on other sites More sharing options...
tackyshoots Posted January 4, 2009 Author Share Posted January 4, 2009 well, 1.9m is a tempting price from Raimon Land for the quality they claim to deliver. I bought a unit from them at the River in Bangkok and price was nowhere near 1.9m. The question is buy or not to buy. I'm planning to buy the unit in Pattaya for purely investment purposes. Some day properties will go up there again anyways. Might not happen in the near future. If not Raimon Land, then which developer should be the best one to go for? I'm not looking for a place in the center of the city as I prefer it to be a bit farther from the 2nd road craziness. I thought it might be good time to buy as many developers dropping their prices. I thought it was quite a sensible movement from the developer as most properties in Thailand tend to stagnate when they're not being sold rather than selling at lower price. Link to comment Share on other sites More sharing options...
jimmybkk Posted January 5, 2009 Share Posted January 5, 2009 By my calculations they've got over 2 billion coming to them at the end of this year or beginning of next year when they complete Northpoint, assuming most people don't default. Surely they could hold on til then. Link to comment Share on other sites More sharing options...
MeetJohnDoe Posted January 5, 2009 Share Posted January 5, 2009 By my calculations they've got over 2 billion coming to them at the end of this year or beginning of next year when they complete Northpoint, assuming most people don't default. Remind me again what the psm they were asking/getting there during the selling period...B 125k or so...and their new stuff at South Shore is going for around B 50k psm! Oh, but that was when oil was $ 150 ppb not $ 30-$40 and every Russian felt like they were Roman Abramovich. Now that Russian is broke again and Gazprom is seeking a government bailout...I agree there isn't much chance many buyers at North Point will back out Link to comment Share on other sites More sharing options...
norrona Posted January 5, 2009 Share Posted January 5, 2009 By my calculations they've got over 2 billion coming to them at the end of this year or beginning of next year when they complete Northpoint, assuming most people don't default. Surely they could hold on til then. good chance northpoint won't be finished either so i've been told, a lot of people that have reserved and made payments just can't keep them up, bit like many other projects in town... tin hat time I am afraid Link to comment Share on other sites More sharing options...
tackyshoots Posted January 5, 2009 Author Share Posted January 5, 2009 (edited) By my calculations they've got over 2 billion coming to them at the end of this year or beginning of next year when they complete Northpoint, assuming most people don't default. Surely they could hold on til then. good chance northpoint won't be finished either so i've been told, a lot of people that have reserved and made payments just can't keep them up, bit like many other projects in town... tin hat time I am afraid I went to visit Northpoint. It's actually ahead of the schedule and expected to be delivered pretty soon or at least I've been told so. Brilliant property! But a bit out of my budget range though... Apparently they're soon be launching another property right behind Northpoint as Northpoint is very close to completion. Maybe I should wait see what that new one is about... I like the location Edited January 5, 2009 by tackyshoots Link to comment Share on other sites More sharing options...
ray08 Posted January 5, 2009 Share Posted January 5, 2009 By my calculations they've got over 2 billion coming to them at the end of this year or beginning of next year when they complete Northpoint, assuming most people don't default. Surely they could hold on til then. Can anyone give us a quote on what they owe ? Link to comment Share on other sites More sharing options...
norrona Posted January 5, 2009 Share Posted January 5, 2009 By my calculations they've got over 2 billion coming to them at the end of this year or beginning of next year when they complete Northpoint, assuming most people don't default. Surely they could hold on til then. good chance northpoint won't be finished either so i've been told, a lot of people that have reserved and made payments just can't keep them up, bit like many other projects in town... tin hat time I am afraid I went to visit Northpoint. It's actually ahead of the schedule and expected to be delivered pretty soon or at least I've been told so. Brilliant property! But a bit out of my budget range though... Apparently they're soon be launching another property right behind Northpoint as Northpoint is very close to completion. Maybe I should wait see what that new one is about... I like the location if people stall or pull out of making their stage payments then what happens??? just so you are aware the structure of the building is not the most expensive part.... like you say it's out of your price range....go buy the lofts if you have faith Link to comment Share on other sites More sharing options...
tackyshoots Posted January 5, 2009 Author Share Posted January 5, 2009 like you say it's out of your price range....go buy the lofts if you have faith Well, I guess that'll be MY decision eh?! If I'm not too cynical... Link to comment Share on other sites More sharing options...
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