Eastern Tower, Sriracha

[Langsuan Man]

My TG and I love Sriracha, clean streets, walking friendly sidewalks, nice people, a real public park, two "farang" friendly hospitals and no Songtow mafia

We took the bus up from Pattaya yesterday and did a cold call at the office of Eastern Tower Condominium / Serviced Apartments, the office attendant showed us a 92 sqm, two bedroom, 1 and a half bath room on the 10th floor. She told us that she had 3 apartments on that floor, although she could only show us one that was unoccupied

The price was 3.2 Million and the best I could figure the "common" charge was 30 THB per sqm per month, and it was in the foreign quota

I don't particularly like the layout of the unit but a good designer and construction crew could do wonders with the layout, oh and did I mention the view

My biggest concern were the three thai style houses across from the public park, between Eastern Tower and the road, a perfect place for a NEW CONDO to block the view

Having seen the saga here in Pattaya of the folks in Jomtein who had their view blocked by the building of a new condo I am reluctant to make the jump

I gave her my cell phone number and before we even left town the price had dropped to an even 3 million baht

Any thoughts from those who are familiar with the area

In closing we did "hire" a tuk tuk who took us to the Siam Bayview Condo (nothing available) and the other HUGE one farther out, but they start at 4 MB

[JohnGotti]

you have pics of this view?

[Langsuan Man]

No, as I said it was a spur of the moment "cold call"

[sriracha john]

My TG and I love Sriracha, clean streets, walking friendly sidewalks, nice people, a real public park, two "farang" friendly hospitals and no Songtow mafia

We took the bus up from Pattaya yesterday and did a cold call at the office of Eastern Tower Condominium / Serviced Apartments, the office attendant showed us a 92 sqm, two bedroom, 1 and a half bath room on the 10th floor. She told us that she had 3 apartments on that floor, although she could only show us one that was unoccupied

The price was 3.2 Million and the best I could figure the "common" charge was 30 THB per sqm per month, and it was in the foreign quota

I don't particularly like the layout of the unit but a good designer and construction crew could do wonders with the layout, oh and did I mention the view

My biggest concern were the three thai style houses across from the public park, between Eastern Tower and the road, a perfect place for a NEW CONDO to block the view

Having seen the saga here in Pattaya of the folks in Jomtein who had their view blocked by the building of a new condo I am reluctant to make the jump

I gave her my cell phone number and before we even left town the price had dropped to an even 3 million baht

Any thoughts from those who are familiar with the area

In closing we did "hire" a tuk tuk who took us to the Siam Bayview Condo (nothing available) and the other HUGE one farther out, but they start at 4 MB

Sorry for the delay in getting in on this.

Eastern Towers is almost exclusively Japanese and Thai occupied (I don't know of a single farang that stays there). One of the reasons that they are reselling condos there again is that many of them were bought up by Japanese companies, which they in turn used to house their Japanese employees in. With the proliferation of all the newer condos in town, these companies are off-loading their older properties and buying up entire floors in the new projects.

It's interesting that they are now going for 3.2 (or even 3.0) million...as about 5 years ago they were nearly double that. So much for any rise in resell values. I think it speaks to the desperation that the sellers are facing with an aging condo building that more people are leaving then are arriving.

Those houses up front of Eastern Towers belong to influential and multi-generational Sriracha folks, so whatever they decided to do with their property would be up to them without much discourse. They've been there for generations, but with all the new condos going up and if they were offered the right price, I could see them selling.

Another concern I would have about Eastern Towers is that the tallest buildings in all of Sriracha are going up right next door to Eastern Towers... the Grand Peaks Sriracha:

(interesting they've eliminated Eastern Towers in their artist's rendition)

In conclusion, I would have serious doubts about buying into Eastern Towers. It's an aging building with spotty maintenance which you might notice on a detailed visit. Obviously no sort of investment potential given their falling prices.

For the same amount of money as the condo you're talking, there's a number of single family detached homes that I personally would prefer.

[CRUNCHER]

My TG and I love Sriracha, clean streets, walking friendly sidewalks, nice people, a real public park, two "farang" friendly hospitals and no Songtow mafia

We took the bus up from Pattaya yesterday and did a cold call at the office of Eastern Tower Condominium / Serviced Apartments, the office attendant showed us a 92 sqm, two bedroom, 1 and a half bath room on the 10th floor. She told us that she had 3 apartments on that floor, although she could only show us one that was unoccupied

The price was 3.2 Million and the best I could figure the "common" charge was 30 THB per sqm per month, and it was in the foreign quota

I don't particularly like the layout of the unit but a good designer and construction crew could do wonders with the layout, oh and did I mention the view

My biggest concern were the three thai style houses across from the public park, between Eastern Tower and the road, a perfect place for a NEW CONDO to block the view

Having seen the saga here in Pattaya of the folks in Jomtein who had their view blocked by the building of a new condo I am reluctant to make the jump

I gave her my cell phone number and before we even left town the price had dropped to an even 3 million baht

Any thoughts from those who are familiar with the area

In closing we did "hire" a tuk tuk who took us to the Siam Bayview Condo (nothing available) and the other HUGE one farther out, but they start at 4 MB

Sorry for the delay in getting in on this.

Eastern Towers is almost exclusively Japanese and Thai occupied (I don't know of a single farang that stays there). One of the reasons that they are reselling condos there again is that many of them were bought up by Japanese companies, which they in turn used to house their Japanese employees in. With the proliferation of all the newer condos in town, these companies are off-loading their older properties and buying up entire floors in the new projects.

It's interesting that they are now going for 3.2 (or even 3.0) million...as about 5 years ago they were nearly double that. So much for any rise in resell values. I think it speaks to the desperation that the sellers are facing with an aging condo building that more people are leaving then are arriving.

Those houses up front of Eastern Towers belong to influential and multi-generational Sriracha folks, so whatever they decided to do with their property would be up to them without much discourse. They've been there for generations, but with all the new condos going up and if they were offered the right price, I could see them selling.

Another concern I would have about Eastern Towers is that the tallest buildings in all of Sriracha are going up right next door to Eastern Towers... the Grand Peaks Sriracha:

(interesting they've eliminated Eastern Towers in their artist's rendition)

In conclusion, I would have serious doubts about buying into Eastern Towers. It's an aging building with spotty maintenance which you might notice on a detailed visit. Obviously no sort of investment potential given their falling prices.

For the same amount of money as the condo you're talking, there's a number of single family detached homes that I personally would prefer.

My understanding is that Grand Peaks is not going to be built. It has been taken over by Saha Group and when anything is built it will be something different.