Best Location/complex To Buy A Condo In Central Pattaya

[-noodles-]

I'm thinking of buying a condo in Pattaya within the next 3-6mths and want to know what people think is the best area around central Pattaya area (mods, please move to Pattaya forum if more appropriate).

My shortlist is:

1) something behind Carrefour in Soi Yumei -- specifically the Apus complex, or

2) Soi 15 behind The Avenue -- specifically The Avenue or The Urban or City Garden (not The Pride)

I am leaning towards Apus but with prices at around 60,000B m2 and still a year away from completion i have hesitations.

The Avenue has similar prices but is closer to completion.

Which areas or complexes do people think i will get:

- better prospects for capital growth

- easier to re-sell in future

- stronger demand as a rental should i decide to move away from Pattaya?

[-noodles-]

I should probably mention my budget is around 3-4m.

Still trying to decide if a 1BR or big studio would be better.

I think buying a house offers better value for money per m2 but don't want the hassles involved with not really ever being able to "own" it

[billaaa777]

The best location is defiantly not behind Carrefour, in fact that might be the worst location. To meet your criteria of better prospects for capital growth, easier to re-sell in future and stronger demand as a rental should I decide to move away from Pattaya there is one hard and fast rule you MUST follow.

This is to make sure your condo is directly on the Baht bus route. So many of your potential buyers or renters when they first look at your condo to either buy or rent will NOT have there own transportation, even if they eventually obtain it in the future.

Condos in buildings not on the Baht bus route appreciate are far less of a rate than those that are.

In your price range I would strongly recommend View Talay 6. You will not be able to get a one bedroom there for the prices you mentioned, but it will do everything else you need.

If your set on a one bedroom in your price range, then you are going to have a hard time finding one in Pattaya that is in a relatively well kept building in a good location. If I were you if you truly desire a one bedroom then switch to Jomtien. In Chatu Dale, a pretty nice complex you can find nice one bedrooms in the 3.5 range. In VT1, which has been renovated and improved greatly you should be able to find one for under 3.0. And in VT2, there is a good chance you can find one under 4.0 or so.

Good luck!

[LennyW]

I know the developer of Apus and if i was lookoing to buy a condo i would go with that one, just because i know they are genuine, cannot comment on the rest.

[-noodles-]

The best location is defiantly not behind Carrefour, in fact that might be the worst location. To meet your criteria of better prospects for capital growth, easier to re-sell in future and stronger demand as a rental should I decide to move away from Pattaya there is one hard and fast rule you MUST follow.

This is to make sure your condo is directly on the Baht bus route. So many of your potential buyers or renters when they first look at your condo to either buy or rent will NOT have there own transportation, even if they eventually obtain it in the future.

Condos in buildings not on the Baht bus route appreciate are far less of a rate than those that are.

In your price range I would strongly recommend View Talay 6. You will not be able to get a one bedroom there for the prices you mentioned, but it will do everything else you need.

If your set on a one bedroom in your price range, then you are going to have a hard time finding one in Pattaya that is in a relatively well kept building in a good location. If I were you if you truly desire a one bedroom then switch to Jomtien. In Chatu Dale, a pretty nice complex you can find nice one bedrooms in the 3.5 range. In VT1, which has been renovated and improved greatly you should be able to find one for under 3.0. And in VT2, there is a good chance you can find one under 4.0 or so.

Good luck!

Thanks for the reply billaaa777, it's much appreciated. Yes i agree your rule about being on the baht bus circuit and access to public transport is important for rentability and future cap growth. The closest thing Apus has for this is motosai taxis unless you walked down to Pattaya Klang.

I was considering Pratumnak area for future cap growth especially as many consider it the "Bell Air" of Pattaya but i personally can't see many good points about it. Agents tell me it's the best area because the princess has a place there etc but there is limited transport unless you walk to Pratumnak Rd to catch a baht bus. Limited bars and restaurants in the area probably makes it less desirable for people to live there as well.... or that could be a good point if you want peace & quiet.

A friend has also recommended Chatue Dale as a good complex, especially once they have finished the road widening (which could take another year). But if i was to go there then i should also consider other complexes in Jomtien but i'd rather not as it's a bit far out. Hyde Park on Thappraya Rd has also been suggested as a good complex.

I have also considered Centre Condo on Pattaya Tai but have heard a few stories about break ins, possibly caused by the inhouse security and management which has put me off. Location is good but the common areas, foyer area and lifts in this building look like they require refurbishment as it currently resembles a housing commission block in some ways. You also need to get a higher floor if you are in the front so as not look at the carpark wall. I have seen prices in here ranging from 28k/m2 up to 65k/m2.

View Talay 6 is a place i haven't looked into but will investigate further after your recommendation. I agree the location is great being on Beach Rd and next to Central Festival. I guess the south side (Walking St side) of the building probably has the best aspect with a vacant block next door not obscuring views. I have heard this block is owned by Singha and not sure of their future plans but will most likely be developed in the near future. The north side facing Central Festival has a better aspect for natural light but then you have a view of a brick wall with air conditioning ducts. I will have a look at this place during the week.

[-noodles-]

I know the developer of Apus and if i was lookoing to buy a condo i would go with that one, just because i know they are genuine, cannot comment on the rest.

LennyW, good to hear that you've heard positive things about them. The sales guy also reassured me saying they were a reputable Thai company and supply materials to some of the other developers like Nova, Iguana, Nordic etc. Apparently they also own a large business that sells fake grass. He told me a lot of the condos had been sold to Bangkok Thais, mostly professionals like doctors and wealthy families.

When you say you would buy from them if you were considering to buy a condo, i'm guessing you meant to say if you were buying new off the plan? Are there any other complexes you'd consider buying into, new or 2nd hand?

I don't mind buying something that requires a renovation and i can add some value to.

I guess you will always pay a premium for buying new.

[SHYTALK]

You must be bonkers to consider buying property in thailand.

1.You won't be able to sell it.

Everybody has a condo or house for sale, but cannot sell it.

2.There are vast numbers of oversupply units in thailand already.

3.Thailand is full of scams regards property.

Do yourself a great favour,give thailand a wide berth, go spend your money somewhere else.

[billaaa777]

SHYTALK go away, you don't have any idea what your talking about. In the last five years I have sold over 25 condos and done well financially because of it.

[Jaydillon]

Pattaya is finish with high crime rate,you need to think very hard about this one buddy please

[knortyboy]

Pattaya is finish

Really, I always thought it was in Thailand, not Finland.

[billaaa777]

I was considering Pratumnak area

I would only buy in Pratumnak area if I was going to live there myself. I have had two condos there, one sold the day I finished it, I got lucky and the other one took 8 months to sell. After that I said to myself, no more condos not on the Baht bus route. They are just to hard to sell or rent.

I have also considered Centre Condo

If your considering Centre condo, then you might want to check out 9 Carat condo. It is in front of Carrefour and is a five minute walk to the Baht bus route. The building is not in very good shape, but they are renovating it slowly and it is getting better. You should be able to get a 1 bedroom there for under 2.5 that has been fully renovated.

Another consideration you might want to be aware of is that the better the building, the higher quality people that live in the building. So even though you will be giving up living space, it is offset by better neighbors and all the things associated with having better neighbors; and you have already mentioned a few.

[SHYTALK]

SHYTALK go away, you don't have any idea what your talking about. In the last five years I have sold over 25 condos and done well financially because of it.

LOL Bil,

I see you to advise people to go away.wise advice.

For sure give thailand a big miss to spend your money....go away somewhere else.

Get real, go look around Pattaya at all the empty units everywhere, go in the estate agents and look how many are for sale and rent , and empty.

And no tourists.

Take my advice , dont buy in thailand, go spend your money elsewhere.

Leave the speculators holding the condo's .

Now tell us how many of the 25 are left with a condo they cannot sell Bil !!

[-noodles-]

billaaa777, thanks for reminding me about 9 Karat condo... i've noticed ads online for this complex before but never got around to having a look.

I had a look at View Talay 6 today and wasn't really impressed with it. Location is good but the whole complex looks like a housing commission type block. It's a pity they didn't do a good quality job in such a great position. There were lots of empty shops on the 3rd level for rent/sale. The corridors are all dark and dinghy looking and it looks like they told their architect to wack in as many 48m2 studios they could fit in on the footprint. I inspected one on the northwest front corner listed at 5.9m reduced from 8.5m. It has been on the market for 8mths.

SHYTALK, i understand your point of view about oversupply, hence my question about good complexes that would be considered more in demand if i ever want to rent it out in future or sell it. I'd like a bolthole in Pattaya and buying a condo seems like the best way to do it.

[billaaa777]

Transit, you are taking the correct approach, viewing as many condos and building as you can before making a decision.

A few things to remember, there are no perfect condos; each and every one will always have its positives and negatives.

Some of the things to consider are the following; quality of the building, view or sea view (So many buyers and renters consider this extremely important,) quality of renovation of that particular condo, location, side of the building (The Pattaya side is much more desirable,) etc.

I have found low rise buildings appreciate at very low rates and are difficult to sell or rent. There locations are usually poor.

If you looked at a 5.9 condo, then that was a one bedroom, which it seems you have your heart set on. I doubt seriously you will find one in Pattaya that is in a nice building in a good location with a good view in your price range. You are almost assuredly going to have to look in Jomtien, which by the way is where a large percentage of the buyers and renters are also looking. Good luck.

[sattahip]

I bought a condo off the plan(Stupid I know please leave that angle) in Pratamnak Soi 1 which elides into Thappraya Soi 4, the same soi as Hyde Park referred to above.

My place is in Park Royal which is nearing completion on schedule to finish October 31. I bought in this area because of the transport availability, motosai and songthaew, and shank's pony as South Pattaya is only a kilometre or so. Also builder, Wandee, has a sound reputation and the workmanship seems excellent.

That area is nice as the hillside has park or sea views, is high enough to catch whatever breeze is going but is also quiet. Pattaya Heights building in the same soi looks very good also and is complete. The developers are cloning it next door. Recommend you have a look at it.

[wpcoe]

In VT1, which has been renovated and improved greatly you should be able to find one for under 3.0.

I don't want to hijack this thread, but that comment made me take notice. I know you are "streetwise" and experienced in the Jomtien market and your endorsement of VT1 came as a surprise. Usually everybody winces and turns up their noses at VT1 & VT2.

[rabcbroon]

You must be bonkers to consider buying property in thailand.

1.You won't be able to sell it.

Everybody has a condo or house for sale, but cannot sell it.

2.There are vast numbers of oversupply units in thailand already.

3.Thailand is full of scams regards property.

Do yourself a great favour,give thailand a wide berth, go spend your money somewhere else.

exactly! go look at recently completed projects ie. view talay 6, and ask why you can still buy 90% or more of the units 2 years after completion.

[billaaa777]

I don't want to hijack this thread, but that comment made me take notice. I know you are "streetwise" and experienced in the Jomtien market and your endorsement of VT1 came as a surprise. Usually everybody winces and turns up their noses at VT1 & VT2.

VT1 and VT2 I believe have a little over 3,000 condos in them and most are occupied. Using those figures quite a few other people also feel like they are acceptable complexes.

They are in excellent locations right, on the Baht bus routes with multiple businesses in the buildings functioning and providing most of the services you require to live. There are also all kinds of restaurants and stores within walking distant of each building.

In the high season these condos are highly sought after by renters and the agents that specialize in them usually run out of condos to rent and are scrambling around looking for additional condos to rent.

I always thought VT2 was in pretty good shape, but VT1 was almost 10 years old and needed work. They have painted and put in drop ceiling on the inside of the buildings, which improved them quite a bit. They are just finishing painting the outside of the buildings now. They also have new management for 2 years now that has done a much better job of taking care of the buildings.

All of that being said, they are not for everybody. Each person has there own predetermined criteria of what they are looking for in a complex. The size and design of the buildings does turn certain people off.

[billaaa777]

exactly! go look at recently completed projects ie. view talay 6, and ask why you can still buy 90% or more of the units 2 years after completion.

VT6's percentage of allowed foreign ownership (49% of the building) has been sold out for years now. It sold out a month or so after the building was finished. The same can be said for VT5.

VT7 now that’s a different story. It is due to be completed some time at the end of this year and has been sold out for over 2 years.

Once again, people commenting who don't have a clue what they are talking about.

[rabcbroon]

exactly! go look at recently completed projects ie. view talay 6, and ask why you can still buy 90% or more of the units 2 years after completion.

VT6's percentage of allowed foreign ownership (49% of the building) has been sold out for years now. It sold out a month or so after the building was finished. The same can be said for VT5.

VT7 now that's a different story. It is due to be completed some time at the end of this year and has been sold out for over 2 years.

Once again, people commenting who don't have a clue what they are talking about.

Absoloute nonsense - I have 2 units on 18th and 19th floor (south side) up fore sale at well below what some are asking. If anyone believes this guy just go to the reception of view talay 6 and see for your self. This place has 80% for sale from developer and 10% resales.

I cant believe you could make such a statement - what exactly is your agenda here?

Edited September 1, 2009 by rabcbroon

[billaaa777]

Absoloute nonsense - I have 2 units on 18th and 19th floor (south side) up fore sale at well below what some are asking. If anyone believes this guy just go to the reception of view talay 6 and see for your self. This place has 80% for sale from developer and 10% resales.

I cant believe you could make such a statement - what exactly is your agenda here?

My original agenda was to try and provide some insight to the property market to the person who started this thread.

My agenda as it relates to you is to de-bunk your out and out lies and lack of any knowledge at all.

You can NOT buy a condo in your OWN name from the developer in VT6. End of story.

You can buy a condo in a company name if you wish. Unfortunately, I don't believe you understand the difference between the two.

As for you not being able to sell your condos at a price below what some are asking, what does that have to do with anything at all?

First, many sellers price there condos at such outrageous figures that will NEVER sell.

Second, the quality of the renovation has quite a bit to do with your ability to sell a condo. Based on your comments, I can only imagine what you spent on your renovations or what your condos look like.

Why don't you post a few pictures and maybe you will get some interest? What are you asking for your condos by the way, maybe I will buy them?

I have a good friend of mine, a very nice Italian couple with a young boy who originally had 12 units in that building. He has only 2 left, but then again he knew what he was doing when it came to renovations.

[bartender100]

I have lived in several condo's (rented) over the years, but the on going problem for me is noise, there is always someone knocking down walls, jack hammers going, sledgehammers. One will finish above you, then one next door, even in new places, nightmare, specially if you like to sleep late. A nice house from now on.

My advise is spend B150,000 and rent for six months in the building first

[SHYTALK]

Still preaching your drivel bil7.

Better you go away, you don't have any idea what your talking about.

Still waiting to hear how many of the 25 now cannot sell their units, and also how many of the other 12 you mentioned cannot sell their units.

Also how many of the vt5,6,7 speculators now cannot sell their units.

Just look in the real estate shops , awash with unsold oversupply.

Go look in the view talay sales offices, loads and loads of units for sale.

And more and more stuff going up everywhere, that may or may not get finished..

Stop being disengenuous to the op, its all tanked, go do your hawking somewhere else.

[rabcbroon]

Absoloute nonsense - I have 2 units on 18th and 19th floor (south side) up fore sale at well below what some are asking. If anyone believes this guy just go to the reception of view talay 6 and see for your self. This place has 80% for sale from developer and 10% resales.

I cant believe you could make such a statement - what exactly is your agenda here?

My original agenda was to try and provide some insight to the property market to the person who started this thread.

My agenda as it relates to you is to de-bunk your out and out lies and lack of any knowledge at all.

You can NOT buy a condo in your OWN name from the developer in VT6. End of story.

You can buy a condo in a company name if you wish. Unfortunately, I don't believe you understand the difference between the two.

As for you not being able to sell your condos at a price below what some are asking, what does that have to do with anything at all?

First, many sellers price there condos at such outrageous figures that will NEVER sell.

Second, the quality of the renovation has quite a bit to do with your ability to sell a condo. Based on your comments, I can only imagine what you spent on your renovations or what your condos look like.

Why don't you post a few pictures and maybe you will get some interest? What are you asking for your condos by the way, maybe I will buy them?

I have a good friend of mine, a very nice Italian couple with a young boy who originally had 12 units in that building. He has only 2 left, but then again he knew what he was doing when it came to renovations.

To the OP - call into view talay 6 and ask at the reception to see the floor plan of sold an unsold units. Then you will see what absoulute untruth this guy is pushing. I rest my case!

[auntie]

Absoloute nonsense - I have 2 units on 18th and 19th floor (south side) up fore sale at well below what some are asking. If anyone believes this guy just go to the reception of view talay 6 and see for your self. This place has 80% for sale from developer and 10% resales.

I cant believe you could make such a statement - what exactly is your agenda here?

My original agenda was to try and provide some insight to the property market to the person who started this thread.

My agenda as it relates to you is to de-bunk your out and out lies and lack of any knowledge at all.

You can NOT buy a condo in your OWN name from the developer in VT6. End of story.

You can buy a condo in a company name if you wish. Unfortunately, I don't believe you understand the difference between the two.

As for you not being able to sell your condos at a price below what some are asking, what does that have to do with anything at all?

First, many sellers price there condos at such outrageous figures that will NEVER sell.

Second, the quality of the renovation has quite a bit to do with your ability to sell a condo. Based on your comments, I can only imagine what you spent on your renovations or what your condos look like.

Why don't you post a few pictures and maybe you will get some interest? What are you asking for your condos by the way, maybe I will buy them?

I have a good friend of mine, a very nice Italian couple with a young boy who originally had 12 units in that building. He has only 2 left, but then again he knew what he was doing when it came to renovations.

To the OP - call into view talay 6 and ask at the reception to see the floor plan of sold an unsold units. Then you will see what absoulute untruth this guy is pushing. I rest my case!

[billaaa777]

To the OP - call into view talay 6 and ask at the reception to see the floor plan of sold an unsold units. Then you will see what absoulute untruth this guy is pushing. I rest my case!

Maybe I am just not doing a good job of explaining this, if somebody else can do better, then by all means please do.

Yes, I am fully aware that there are still condos you can buy from the developer in VT6. These are condos that can NOT be purchased in your OWN name. For a foreigner to buy them from the developer they must form a COMPANY and purchase them in the company name.

There is a law in Thailand that states foreigners can only own 49% of the square footage of the building. Once that figure is reached most buildings in Pattaya stop selling condos. There are very few Thai's that buy condos in Pattaya and there are even less foreigners that purchase condos in company names.

Condos in company names are VERY undesirable and almost impossible to sell. So when I say a building is sold out I am speaking of the 49% that can be owned by only foreigners.

Most new buildings today rarely sell over 55% total of the condos in any building in Pattaya. Unless they heavily marketed to Thai's in Bangkok or heavily discount them to Thai's. A developer in Pattaya pretty much has to plan on making there profits by selling around 55% of the condos, because that is all they are going to be able to sell.

I really don't know what else I can do to explain this to you. If you happened to be one that purchased a condo in a company name that is almost assuredly the reason you can't sell it, nobody will ever buy it unless you discount it tremendously.

Still waiting to hear how many of the 25 now cannot sell their units

Sorry for not answering your question. I thought it was so ridiculous, that you were joking even asking it. They are all sold, except the one I live in. You don't mind if I live in my own condo, do you? I am in the market now looking for new condos, if you know any then please let me know.

Edited September 3, 2009 by billaaa777

[rabcbroon]

To the OP - call into view talay 6 and ask at the reception to see the floor plan of sold an unsold units. Then you will see what absoulute untruth this guy is pushing. I rest my case!

Maybe I am just not doing a good job of explaining this, if somebody else can do better, then by all means please do.

Yes, I am fully aware that there are still condos you can buy from the developer in VT6. These are condos that can NOT be purchased in your OWN name. For a foreigner to buy them from the developer they must form a COMPANY and purchase them in the company name.

There is a law in Thailand that states foreigners can only own 49% of the square footage of the building. Once that figure is reached most buildings in Pattaya stop selling condos. There are very few Thai's that buy condos in Pattaya and there are even less foreigners that purchase condos in company names.

Condos in company names are VERY undesirable and almost impossible to sell. So when I say a building is sold out I am speaking of the 49% that can be owned by only foreigners.

Most new buildings today rarely sell over 55% total of the condos in any building in Pattaya. Unless they heavily marketed to Thai's in Bangkok or heavily discount them to Thai's. A developer in Pattaya pretty much has to plan on making there profits by selling around 55% of the condos, because that is all they are going to be able to sell.

I really don't know what else I can do to explain this to you. If you happened to be one that purchased a condo in a company name that is almost assuredly the reason you can't sell it, nobody will ever buy it unless you discount it tremendously.

Still waiting to hear how many of the 25 now cannot sell their units

Sorry for not answering your question. I thought it was so ridiculous, that you were joking even asking it. They are all sold, except the one I live in. You don't mind if I live in my own condo, do you? I am in the market now looking for new condos, if you know any then please let me know.

No you are doing a good job of asserting your point. But as I said 80% of the units are still for sale from the developer. Aprrox 35% available to ferangs and 45% to Thais. Of the remaining 20%, 10% are for resale and 10% would sell if asked!

[PattayaParent]

Of the places originally mentioned by the OP I'd say the ones behind the Avenue are the better buys on the grounds of location and near completion.

[luckyluke]

Have a look here :

http://maxxcentral.com/

[bilags]

Still preaching your drivel bil7.

Better you go away, you don't have any idea what your talking about.

Still waiting to hear how many of the 25 now cannot sell their units, and also how many of the other 12 you mentioned cannot sell their units.

Also how many of the vt5,6,7 speculators now cannot sell their units.

Just look in the real estate shops , awash with unsold oversupply.

Go look in the view talay sales offices, loads and loads of units for sale.

And more and more stuff going up everywhere, that may or may not get finished..

Stop being disengenuous to the op, its all tanked, go do your hawking somewhere else.

I think You have a good point here. This is happening all over the world now. But from the brigt side of view. Some of the reselling in VT6 can be bought a good discount, according to some advertisments in local papers and Craigs list