Buying Condos For Rent In Pattaya

[sadako]

Hi all ,

I see some good deals on Condominiums in the Pattaya area , these may be a good investment to rent out ...... But what I really need to know is are there many empty condos there ? I mean having purchased a condo or 2 , is it likely that I can get people to rent them all year round , to keep them as profitable as possible ? Or are there hundreds of condos no-one uses ?

And is it hard to sell a condo back after a foreigner owns one here ?

Thanking ya all !

[Simbo]

Hi all ,

I see some good deals on Condominiums in the Pattaya area , these may be a good investment to rent out ...... But what I really need to know is are there many empty condos there ? I mean having purchased a condo or 2 , is it likely that I can get people to rent them all year round , to keep them as profitable as possible ? Or are there hundreds of condos no-one uses ?

And is it hard to sell a condo back after a foreigner owns one here ?

Thanking ya all ! 

<{POST_SNAPBACK}>

That is a great idea. I have thought about it many times since I bought two Town houses ( linked) with the view to knock them into one. Later, deciding it would be too big, I rented one out. It has been full ever since.

You can buy condo's or Apts

at low prices in Pattaya. You just have to look around. If you are not greedy, you will always find a tenant. I advertised mine in the 'Mail' for never more than one week. My phone never stopped ringing, even weeks later.

Put it this way, it's easier and safer than running a bar.

[naka]

Hi all ,

I see some good deals on Condominiums in the Pattaya area , these may be a good investment to rent out ...... But what I really need to know is are there many empty condos there ? I mean having purchased a condo or 2 , is it likely that I can get people to rent them all year round , to keep them as profitable as possible ? Or are there hundreds of condos no-one uses ?

And is it hard to sell a condo back after a foreigner owns one here ?

Thanking ya all ! 

<{POST_SNAPBACK}>

Yes, probably a much better proposition than a beer bar. However the low end

of the market looks a bit dodgy, there are always scads of adverts in the local papers for the View Talay group of condos.

[sadako]

OK Thanks , Simbo , the mail ? Is this a local paper in Pattaya ? You think 1 million baht each is enough for me to avoid the View Talay group ? !!

[Humphrey Bear]

You can purchase condo's for less than 1 million, yes, but consider location, condition of property, location, number of empty condo's in your selected area, location and - of course - location.

Many condo's available, but in poor locations. If you buy in Centre Condo, or one of the beach-front condotels, such as around Marklund, and have them well decorated, well furnished, IDD phone, satellite or good cable TV, then you will be able to rent reasonably easily.

Investment of 1.5 million baht (purchase plus furniture / phone / TV / etc) will get you a good studio of about 40 sq.m. plus balcony. This you will possibly get 15,000 baht per month as return (less agent's fees, tax and so on). thus grossing 1% per month on your investment, maybe 7-8% per annum net. Maybe you can do better, I looked into this and decided that there was too much liklihood of having one or two months empty in a year - therefore better to leave the money in the bank.

But that's just me. Other people do make it work, do regard the appreciation of the property as being worth it. But never, never, never borrow the money to buy rental accommodation.

[bmanly]

I agree with Humphrey Bear (gee I liked that show when I was a kid). It is all about location, location, location. Lets use 2 examples. I have friends who live in Pattaya beach condominiums, just back from beach road in Soi 13. That block of condos is mostly fully rented, rents are mostly between 8,000 and 12,000 baht p/m. To buy in there and not expect more than average rent then you will get it. Try for 20,000 baht a month and you won't get it.

Then there is Gow Karat Condotown off Soi Arunothai, that is inland about 2 kms and off the road where Carrerfore is in Pattaya. In that block you can rent a big 66 sq m condo for anything between 5,500 and 8,500 baht BUT it is not full and it has many vacancys. You probably won't be able to rent out your condo there all the time.

Lets use Humphrey Bears scenario of 1.5 million for a condo. You buy 2 condos = 3 million + 200,000 baht for minor renovations, that's 3.2 million total. That is a lot of money.

Now if I was to say invest that money in a 100% safe Australian Bank interest bearing account and get 6% p/a it would return me 16,000 Thai Baht a Month, no sweat, no worries of tenants, guarranteed "rent" and safe. I am not saying you should do this but it is another way of looking at it. I have thought about buying in Pattaya many times but I feel renting is much better and you can leave your money in safer investments overseas but then that's me. Good luck in what ever you do.