A.d. Hyatt Condominium Wongamat

[stagger]

I have a friend that is thinking of buying one of these Condo's.

Anybody have any info that would be useful before he commits to the sale.

I know the site was dormant for a long time then in about a year the place went gangbusters, so I guess they had sold enough off the plan to start up.

Will it be a hotel and Condo Building?

Thanks in advance!

[Grumbles82]

I signed up for mine a couple of years ago. I went there last week to check on it and they said they have sold 90% of the condo's and they only have the small units on the back side left(not the best view). They have a display unit setup inside now if you want to check the quality and also they finished a low rise block round the corner in Naklua soi 16/1 about a year ago the fit out is pretty similar. Standard thai finish of tiles, solid plaster to block walls and paint.

I have never heard anything about the place being run as a hotel its all condo as far as i know.

They say they are going to be ready to start signing the condo's over mid next year which seems about right.

Not sure if that helps

[torrenova]

You don't actually think they sell all the condos do you ? and the developers actually have the money to build it ? or buy the land ? or pay for the plans ? Condo block building is all about trading prime units for the land, plans, marketing, building costs in some cases and anything else. At the height of a boom, you can just have an idea, get everyone to trade their services for condos and virtually build it for no cost to yourself, as you "pay" everyone in condos. Your profit is the number of condos you don't have to give away to pay to get it built.

That is one reason why they can claim that a place is near sold out. Maybe 80% of the units are "sold" to pay for the build. The developers sell their 20% and walk away and it is up to the people who have condos in lieu of fees and services who have to sell their 80%. Legal, but your average punter thinks 80% have been sold to other mug punters.

If you cannot find out enough information and have to come here, don't walk, run.