East Pattaya Home Sales In The 2.5 - 3.5 Million Baht Range

[Tiger7Moth]

I understand that if one looks around, there are some real bargains to be had - with some ex-pats having to return to their home countries and overall, a supply exceeding demand. Many sources suggest the Thai economy will not improve until late 2010.

So, with any personal insight you may have into the East Pattaya home market, do you think a better bargain could be had now or after high season, 2010.

Thanks for your thoughts

[MeetJohnDoe]

If I were you, I would consider the health of the European and American economies as they have a major affect on pricing in farang resort/retirement areas like Pattaya (not the Thai economy). If you are in the market and have the cash, I think you could drive a very good deal right now. Probably down 20-30% from the highs of a couple years ago. However, there is no hurry as the economic recovery in the West will be very very slow (and likely pretty anemic) so demand for 2nd homes and retirement homes/condos not likely to bounce back very quickly. My be would be that prices will be probably be the same a year from now as now so if you don't need the place now, no harm in waiting.

Over the long term, one unintended effect of the loss of assets that has occurred world-wide to people nearing retirements in the West is that many may no longer be able to afford their planned retirements in Florida, Arizona, Spain, etc. and may look overseas to cheaper places like Thailand, Mexico, Philippines, etc. That may push up demand over the next decade and put some pressure on prices.

[basjke]

To be cruel,there will be no high season 2010.

My opinion is to wait a few more months as the punch has just started to feel here.I notice that recently many houses have came for sale but the sellers still think they are the only one who are selling and that they own a piece of gold.

Wait till September or October,historically the slowest months in pattaya,and see how all these unsold houses have dropped in price.

[JohnGotti]

honestly, i would buy now. prices down enough to be happy with your gain... with all that inflation its possible the baht could end 10% stronger than it is now like it was not too long ago...

[basjke]

honestly, i would buy now. prices down enough to be happy with your gain... with all that inflation its possible the baht could end 10% stronger than it is now like it was not too long ago...

Haven't you noticed that the baht has fallen 5 % against the major currencies in the past 2 weeks.

[JohnGotti]

honestly, i would buy now. prices down enough to be happy with your gain... with all that inflation its possible the baht could end 10% stronger than it is now like it was not too long ago...

Haven't you noticed that the baht has fallen 5 % against the major currencies in the past 2 weeks.

it went from 35 to 34 baht per dollar these past 2 weeks.

didn't you notice the endless trillions these western government pumped into their economies?

Edited May 27, 2009 by JohnGotti

[Heng]

If one is intent on buying 'new' then perhaps yes, if it was from an established developer with large cash reserves like say Land and House or TCC.

Myself I wouldn't buy when builders are cutting costs, unless I was an architect or civil engineer.

As for buying foreclosed properties, there are always plenty of those available whether the economy is good or bad. Some folks focus too much on whether it's a 'good time' economy wise, when they should be looking at whether it's a 'good time' as it pertains to their own financial health.... which is why there are always properties being foreclosed on to begin with.

[eljeque]

There are some desparate sellers now, and there will be more in the future, and over time, you will become more adept at finding them.

Take your time

[expatgaz]

Iam currently building a place,or just starting,permits etc,so not in the market to buy however

I've had a good luck round and to be honest there's some great bargains out there for buying a house right now,I've seen numerous properties reduced to the 10 mil bracket which I believe are well worth 10 mil.They where overpriced before but now I think is a good time to haggle.I noticed a house advertised for 27 mil reduced to 14 with a 3 year let at 120k a month,I think thats a decent buy.I think it was near the croc park.

EPG.

[SMEEERE]

To be cruel,there will be no high season 2010.

My opinion is to wait a few more months as the punch has just started to feel here.I notice that recently many houses have came for sale but the sellers still think they are the only one who are selling and that they own a piece of gold.

Wait till September or October,historically the slowest months in pattaya,and see how all these unsold houses have dropped in price.

Have you seen the other thread running about the restrictions in phuket ?. no, wait prices will get lower as more expats relocate,.