House Prices

[davylad]

Hi,I'm one brit who is thinking of buying in Jomtien,I've been looking at properties on the internet for say 7 million baht,but if you ask the neighbours or see the property in the local paper the owner is only asking 5 million or less,has any one else noticed this?

[tattoodrob]

Hi,I'm one brit who is thinking of buying in Jomtien,I've been looking at properties on the internet for say 7 million baht,but if you ask the neighbours or see the property in the local paper the owner is only asking 5 million or less,has any one else noticed this?

on real estate sites on the internet?? maybe they hoping to catch a newbie ie someone who dont know pattaya/jomtien and the real house prices here .......why not as houses are cheap here if you come from uk but not good practice if you know the housing market already.anyone who researches just a little can find out if they are being very overcharged...as always ...buyer beware.

[LennyW]

You need to be a little more specific davylad, a lot of variables, decor, land size, house age, house size,single walls, cavity walls, private pool (by who?), communal pool ???? security, etc. etc. ..... so many different houses and options here??

Are you talking about one property in particular or a general observation?

PM me if you want to discuss further discretely.

[imaneggspurt]

Well 2 friends of mine were being shown a property for 6.5 mill by an agent and he noticed the one next door was for sale privately and took the number, the house in his words were identical and he bought it for 4.7..take your time buyers are scarce right now and the ball is in your court,.

Edited January 8, 2009 by imaneggspurt

[MJo]

Happens, sometimes it's the agents inflating the price...

[imaneggspurt]

Happens, sometimes it's the agents inflating the price...

funny thing was he called the agent and asked if he could make an offer and his call wasnt even returned,

[culicine]

Just wondering what will happen to new house prices in the near future. Looked at a nice housing estate a few weeks back. The cheapest place has been reduced from 6.3 to 5.88. They just aren;t selling. only 14 out of about 400 plots have been sold so far. Our place is also on the market and no bites yet. many people have told me to expect new house prices to drop more oven the neax year or two. Anyone heard about this? Would like to hold out longer on buying a new place (can;t buy yet anyway as we haven;t sold our's yet;)

[samgrowth]

Happens, sometimes it's the agents inflating the price...

funny thing was he called the agent and asked if he could make an offer and his call wasnt even returned,

You agent could be busy protesting. Who cares to make a living when you can join protest which provide food and cash in Bangkok.

[think_too_mut]

Happens, sometimes it's the agents inflating the price...

An agency, a former sponsor of this site (and while sponsoring), advertised a small 1 BR for 1.2 mil baht in Bang Na.

We went to see the place and the poles around the building had weatherboard signposts selling cheaper, not 10% or 20 % but whole 50%.

A year later, I saw the place advertised again (this time directly by the owners) for about 10% more than others before, but only after the place had been renovated and higher than average price was probably justified and acceptable.

So, even the owners have their limits when RE agents make their property unsellable and themself look silly and greedy asking double than others in the complex.

[bonobo]

Agents have tomake a living, too, but it does get frustrating.

I found a nice townhome on the internet in Pin Klao for 5.5. It was pretty much excatly what I needed. However, it hadn't been occupied for 4 years, and a hole in the roof damaged two rooms to the tune of almost 1 million baht. So I offered 4, and even though they didn't even know the extent of the damage before I told them, the agent would not pass on our offer.  

Across the street there was another townhome of the same design except the parking space was enclosed as part of the downstairs rooms and the small backyard was missing due to a klong running through there, and the resident owner was asking 4.8.

[davylad]

You need to be a little more specific davylad, a lot of variables, decor, land size, house age, house size,single walls, cavity walls, private pool (by who?), communal pool ???? security, etc. etc. ..... so many different houses and options here??

Are you talking about one property in particular or a general observation?

PM me if you want to discuss further discretely.

Hi Lenny,

I was talking about specific properties that I'd seen on the internet,and then found whilst in Jomtien,I also found a private agent trying to overcharge for properties as well,so you have to keep your wits about you.

ciao Davylad

[LennyW]

I have seen Thai private "agents" - and i use that term very loosely, ask people to take their "for sale" signs down prior to a showing so that they can ask for a higher price and then work their way down in "discounts". Stupid !!

What if the potential buyer already drove past and saw the price, or as you did, saw it on the net or other ads???

These private "agents" who have little or no input to the sale other than introduceing a customer, (which is usually a "friend" they are trying to cheat) are not happy with the 3 or 5% commission they would get, oh no, they have to scheme and scam to try and get more - more often than not killing a sale!! Greedy Bstads!!

If brains was dynamite they wouldnt have enough to blow their nose!!

I asked my wife why they fk around like that - the "Thai way" was the answer!!

[johnnyk]

Has anyone ever noticed that prices for anything advertised on the net are more expensive?

Hotels, condos, airfares etc etc

I've never seen a price on the net that I couldn't better by going to the original source.

[raylo]

You need to be a little more specific davylad, a lot of variables, decor, land size, house age, house size,single walls, cavity walls, private pool (by who?), communal pool ???? security, etc. etc. ..... so many different houses and options here??

Are you talking about one property in particular or a general observation?

PM me if you want to discuss further discretely.

Lenny - your questions lead me to think you are an agent? The question does not necessarily lead to the specifics conclusion you are speculating. However if not -

I too am in the market and would like to hear some "informed and accurate" replies.

My experience to date is that like the baht (spelt correctly) the Thai property market seems to be insulated from the global trend of reducing prices.

Plus my experience has been Farang agents artificailly inflating the prices on the posted properties to suck in the overseas buyers.

As was said and as I assume Lenny was inferring you have to physically check it out to see what you are buying (apples for apples) and whether the price has been inflated

[LennyW]

raylo, i am not a agent, just asking specifics, very easy for people to say "that was expensive" but when asked "compared to what", usually they have no answer???

I know what i look for in a house, but some of the questions on TV forum lead me to think some people should not be allowed out of their mothers house, let alone think about buying one of their own???

[johninbkk]

Hi,I'm one brit who is thinking of buying in Jomtien,I've been looking at properties on the internet for say 7 million baht,but if you ask the neighbours or see the property in the local paper the owner is only asking 5 million or less,has any one else noticed this?

I own 3 properties in Jomtien and have had them listed with most agents in pattaya.. enough said. I have no started my own advertising campaign, you'll see it in Bkk post all this month. depending where and land size 2 bedder from 8.5 mill up to 18 mill from [email protected]