Cheap Condo Purchase In Pattaya

[INTJ]

I am toying with the idea of buying a cheap condo for the occasional weekend / afternoon - have seen units for sale at Nirun condo for as little as 300K - are these horrible ? I don't mind an older building as long as it is well managed.

Any recommendations ? I would ideally like VT2 or similar for around 800K. Any suggestions for places to look around this price ?

Thanks in advance

[Humphrey Bear]

I would look at Centre Condo n Pattaya Tai - there always seem to be people coming/going.

Some people on this forum have lived in Nirun, or next to it. Search back topics and find their comments.

[Michaelaway]

I am toying with the idea of buying a cheap condo for the occasional weekend / afternoon - have seen units for sale at Nirun condo for as little as 300K - are these horrible ? I don't mind an older building as long as it is well managed.

Any recommendations ? I would ideally like VT2 or similar for around 800K. Any suggestions for places to look around this price ?

Thanks in advance

Hi,

In Jomtien, you can find a studio under 1M baht at places like Majestic Condominium on Soi Watboon(kanjanaram), in the 500K-900k range. It's not a bad place... In Pattaya, there are cheap ones at places like 9 Karat Condo, but I can not claim any first hand knowledge.

Maybe a 1M baht house, somewhere in the area...? Good Luck!!

-Michael

[Spaniel]

I am toying with the idea of buying a cheap condo for the occasional weekend / afternoon - have seen units for sale at Nirun condo for as little as 300K - are these horrible ? I don't mind an older building as long as it is well managed.

Any recommendations ? I would ideally like VT2 or similar for around 800K. Any suggestions for places to look around this price ?

Thanks in advance

I have a condo at VT2A and was just there for a couple of days. I looked at the bulletin board just to get an idea of how prices were going and I doubt if you would find anything there for B800,000. The cheapest one I saw was a 37 sqmt unit for B1,250,000.

[Jingthing]

VT2 prices will be lower for condos not in a foreign name, however, I wouldn't touch that type of ownership (fake company) but I can understand if the deal is good enough, it might be tempting.

[redwood13]

I am toying with the idea of buying a cheap condo for the occasional weekend / afternoon - have seen units for sale at Nirun condo for as little as 300K - are these horrible ? I don't mind an older building as long as it is well managed.

A friend who knows prices at Nirun says - rough and ready at 350,000 baht, semi-decent 370-400, decent at 400-450. Likely anything at 300K will be a desperate farang who needs to leave Thailand by midnight (And that one will get snapped up by a member of the "in-crowd".) These are 26-28 meters. Units in the tower go for ~800- to a bit over a million.

-redwood

[billaaa777]

Nirun is a DUMP as is Majistic! And to tell you the truth, that's an understatement. No way your getting a condo in VT2 for 800,000 either. If there are or were any for sale at that price they will be bought by people living in the building who would know about it way before you would ever find out.

[ericg1953]

I agree with the remarks about Nirun. I can recommend you look at Jomtien Beach Condominium...there are units here from 750k up depending on what building you are in and the views. There are some here that have been fully renovated and they start around 1 mill for a nice one. It is a great complex...2 beautiful pools, great security, 2 fitness centers and plenty of restaurants,laundries, massage and other shops. It is located on the beach with 24/7 taxi service. PM me if you would like more info

Eric

[Pattaya46]

I would ideally like VT2 or similar for around 800K. Any suggestions for places to look around this price ?

I would look at Centre Condo n Pattaya Tai - there always seem to be people coming/going.

Hi,

Same remark for Center Condo as the one for VT2 by billaaa777.

Center Condo smaller apartments are 52 sqm

and I never saw one below 1.5 million baht.

If there was one at 800k or even 1.2M, I would have bought it

With 800k you can only hope for a very hypothetic crash...

[INTJ]

It seems that all I can get for this price at the moment is a rat hole.

I will wait a while and see what happens over the next months with pricing.

Cheers for the replies.

[JR Texas]

It seems that all I can get for this price at the moment is a rat hole.

I will wait a while and see what happens over the next months with pricing.

Cheers for the replies.

The market is crashing.........has been in the process of "crashing" since about 2004 (when all of the myriad of indicators predicated a downturn in the market........but the real estate hounds will tell you the opposite).

Just wait.........it will take time for most owners to realize that things are much worse than they think and that a rapid turnaround is not in the cards. Many will be forced to sell property that is nothing but a weight around their necks.

Prices have not hit bottom.........reality still has not surfaced.........just wait.

[Gary74]

It's getting better, try this place http://1millionbaht.com/

http://1millionbaht.com/luxury_condominium/facilities.html

Edited August 11, 2009 by Gary74

[Pattaya46]

The market is crashing.........

Not yet, or no yet here in Pattaya

Prices have not hit bottom........

They have barely fallen

Why do some of you try to afraid others there ? Are you in a hurry to buy ?

[syd barrett]

How about AD Condominium at Wongamat?

They have some cheap condos for sale. Link Below:

Wongamat AD Condo

[Ohio]

Just to ask , wont get back til the end of the year , but , would 2,000,000bht get us a 2 bedroom / 2Bathroom Condo with ocean view ???

[bobbin]

Just to ask , wont get back til the end of the year , but , would 2,000,000bht get us a 2 bedroom / 2Bathroom Condo with ocean view ???

No.

[frenchFARANGbkk]

It's getting better, try this place http://1millionbaht.com/

http://1millionbaht.com/luxury_condominium/facilities.html

Hi,

Has anybody bought an apartment at the 1millionbaht condo project ?

I would like to know if the buildings will be finished soon and what is the price for higher floors ?

Any more information ?

Thanks.

[moo9]

Nirun is a DUMP as is Majistic! And to tell you the truth, that's an understatement. No way your getting a condo in VT2 for 800,000 either. If there are or were any for sale at that price they will be bought by people living in the building who would know about it way before you would ever find out.

Agree, at those prices you'll get a rat hole!

[moo9]

It seems that all I can get for this price at the moment is a rat hole.

I will wait a while and see what happens over the next months with pricing.

Cheers for the replies.

The market is crashing.........has been in the process of "crashing" since about 2004 (when all of the myriad of indicators predicated a downturn in the market........but the real estate hounds will tell you the opposite).

Just wait.........it will take time for most owners to realize that things are much worse than they think and that a rapid turnaround is not in the cards. Many will be forced to sell property that is nothing but a weight around their necks.

Prices have not hit bottom.........reality still has not surfaced.........just wait.

The only thing which went down dramatically are the rents. Buying is still another thing, and with increasing interest rates by the end of 2009 / early 2010 things might look different. It is not a bad time to buy / rent now.

PS: I am not in real estate, neither I have interest in it.

Cheers

[Barack]

No nothing about this place but it looks relatively inexpensive.

http://asian-escapes.com/forsale.html

[PattayaParent]

It's getting better, try this place http://1millionbaht.com/

http://1millionbaht.com/luxury_condominium/facilities.html

Hi,

Has anybody bought an apartment at the 1millionbaht condo project ?

I would like to know if the buildings will be finished soon and what is the price for higher floors ?

Any more information ?

Thanks.

I looked at this place for a mate.

2 of the buidings are having the windows fitted so interior works can start and on the 3rd building the exterior block walls are being constructed but they won't be far off finished by now.

The prices should be on the website or send the developer an email.

I reckon the whole place should be completed by middle of next year.

[JR Texas]

The market is crashing.........

Not yet, or no yet here in Pattaya

Prices have not hit bottom........

They have barely fallen

Why do some of you try to afraid others there ? Are you in a hurry to buy ?

I think people are missing the point I am talking about...........the short term (over one or two years) price could be up or down now........for me that does not matter........I am talking about a long term trend that started way back about 2004 (when things seemed good)........in fact, forces put in place a couple of years earlier virtually ensured a market crash down the line. I think the global economic downturn, coupled with a rising tide of xenophobia reflected in visa rules, the social unrest and airport closure, rising crime, rising rip offs, and overpricing has accelerated the market crash scenario. When will it finally hit bottom? I don't know. But I think we are still in a downward cycle.........sure, it may rebound temporarily, but the long term trend does not look good to me at all. But the penthouse condos on the oceanfront will also retain value........but there are only a few of them. Most are concrete coffins that overlook nothing.

[bobbin]

But the penthouse condos on the oceanfront will also retain value........but there are only a few of them.

Good news for me then, as that is what I bought!

[frenchFARANGbkk]

It's getting better, try this place http://1millionbaht.com/

http://1millionbaht.com/luxury_condominium/facilities.html

Hi,

Has anybody bought an apartment at the 1millionbaht condo project ?

I would like to know if the buildings will be finished soon and what is the price for higher floors ?

Any more information ?

Thanks.

I looked at this place for a mate.

2 of the buidings are having the windows fitted so interior works can start and on the 3rd building the exterior block walls are being constructed but they won't be far off finished by now.

The prices should be on the website or send the developer an email.

I reckon the whole place should be completed by middle of next year.

Thanks, so it looks like a reliable project, with no risk if buying before the end of construction ?

[patrickinpattaya]

I own a few condos at Nirrun and Pattaya pad, you can pick up a small condo at Nirrun for about 300 and 700 at Pattaya pad, neither places are bad, suppose you get what you pay for really. Property market in Thailands seems steady compared to other countries. As for rental these low end of the market condos are a good earner there's always plenty of people wanting to rent them, both farang and thai.

[PattayaParent]

Thanks, so it looks like a reliable project, with no risk if buying before the end of construction ?

The developer, Iguana, seem to be the only people that are starting and completing their projects at the moment.

When I went to see the place for my mate it was on a Sunday and there were crews working on the windows and blockwork, not the actions of someone who hasn't got the money or intention to complete.

My big concern is where do the developers get their 51% majority Thai ownership in the currnet financial situation and that any units that are not sold then the developer is responsible for the maintenance payments for them, and they might just not make the contributions to the upkeep of the building.

But you have to do your own due dilligence and go with your own feelings about the place, or any place you buy off plan, and not just take the word of a stranger on the Internet.

[morphic]

I looked at quite a few condos in my most recent visits. But I was really put off by what I saw. The construction quality seems very poor, the walls are all wafer thin and on half built projects I could see how clumsily blocks in outside walls were thrown together with big gaps between. Oh, im sure all these places look nice when new and freshly painted but underneath will be cheap and nasty. And as for the quality of the wiring, plumbing and sewage systems, well that really worried me.

If the prices were all cheap and cheerful then fine, but they dont seem cheap to me given this is Pattaya, not London, Singapore or New York. I suspect some of the new developers (a few of whom seem to be farang) must be getting immensely rich, selling this all third world rubbish at first world prices, making irrelevant and misleading claims about using "British standards" of build etc.

So my view is be careful and look at the rental prices of some of these properties. Rents seems to be quite low relative to the cost of buying, yields being in the very low digits. If there are genuine bargains or genuine sellers then fine. But if the sellers are mostly just waiting patiently for a sucker to come along and make them rich then rent. Sellers may not need to sell, hence the high asking prices, but they may be desperate to get some kind of return on their "investment" and thats why the yields are quite low considering the fact that Pattays is after all just a cheap and cheerful resort in a third world country.

[sotsira]

I looked at quite a few condos in my most recent visits. But I was really put off by what I saw. The construction quality seems very poor, the walls are all wafer thin and on half built projects I could see how clumsily blocks in outside walls were thrown together with big gaps between. Oh, im sure all these places look nice when new and freshly painted but underneath will be cheap and nasty. And as for the quality of the wiring, plumbing and sewage systems, well that really worried me.

Which condos were these that you visited in your above statement?

[pgt99]

I rent at Jomtien Beach Condo. It's a good place. A big effin road is going through that will split the complex in half. Blocks A, b and C will be cut off. Still no plans for a foot bridge. Buildings S1 and S2 will be OK. A pool maybe lost. Certainly wouldn't buy there at the moment.

[Thaifan2]

I rent at Jomtien Beach Condo. It's a good place. A big effin road is going through that will split the complex in half. Blocks A, b and C will be cut off. Still no plans for a foot bridge. Buildings S1 and S2 will be OK. A pool maybe lost. Certainly wouldn't buy there at the moment.

A pool will not be lost .I live there .