Good Article

[dickie58]

For your information, i was offered 18 million sometime ago 4 my house & i said no, i have also been offered 15 mill recently also said no to that.

Its my house & will sell it for whats its worth, not what you guys think it worth.

So where are all these pictures & details of your fabulous properties??????

I'm just back fom having some work done on my car @ Toyota, while i was waiting, I got chatting to a nice British chap, the conversation eventually got around to Ptty real estate, he was saying he has a 160sqm condo on the beach @ Jomtien 4 sale, (12 milion bht), had it listed with 2 agents since middle of last year hardly had any viewings.

One of the agents he has it with is is where my mate works, I popped into see him on the way back, he showed me some pictures of the condo, looked very nice to me.

The guy at Toyota i mentioned above was also saying he has a mate who has a condo for sale in Phratmanak for 9 million, again no interest, apparently it owes the seller considerably more than that.

the 207tw plot of land i mentioned at the bottom of Soi 6 was apparently bought by Nova, another mate of mine here, knows the guy who owned it & sold it to Nova.

Mine is on 328tw of land & has a nice house on it as well.

[yankee99]

ok i will bite..........86sqm paid 3.7m top floor vt5c

click to see all the pics

Edited February 9, 2010 by yankee99

[sharecropper]

ok i will bite..........86sqm paid 3.7m top floor vt5c

click to see all the pics

That's not a bad price. I can see my condo from yours.

Could you hear the racket they made on the VT hotel last night until 11pm?

[dickie58]

ok i will bite..........86sqm paid 3.7m top floor vt5c

click to see all the pics

Looks okay to me, but not keen on the VT condos personally, can't comment on price as quite simply i don't know prices in those buildings

Thanks for posting, come on guys how about a few more of you showing, some houses would be nice?

[yankee99]

ok i will bite..........86sqm paid 3.7m top floor vt5c

click to see all the pics

That's not a bad price. I can see my condo from yours.

Could you hear the racket they made on the VT hotel last night until 11pm?

Not sure about the noise as it is a rental unit. But no complaints yet....I know earlier in the year when they were driving the pilings next to vt7 the noise was a problem

[dickie58]

This thread says it all how good it is about buying a condo in Ptty, buyers beware:

http://www.thaivisa.com/forum/Northshore-H...ng-t337499.html

Aren't the condos in Northshore very pricey?

Although there is no doubting it is a nice very central downtown location, with great Sea views

Edited February 9, 2010 by dickie58

[Benjie]

For your information, i was offered 18 million sometime ago 4 my house & i said no, i have also been offered 15 mill recently also said no to that.

Its my house & will sell it for whats its worth, not what you guys think it worth.

So where are all these pictures & details of your fabulous properties??????

I'm just back fom having some work done on my car @ Toyota, while i was waiting, I got chatting to a nice British chap, the conversation eventually got around to Ptty real estate, he was saying he has a 160sqm condo on the beach @ Jomtien 4 sale, (12 milion bht), had it listed with 2 agents since middle of last year hardly had any viewings.

One of the agents he has it with is is where my mate works, I popped into see him on the way back, he showed me some pictures of the condo, looked very nice to me.

The guy at Toyota i mentioned above was also saying he has a mate who has a condo for sale in Phratmanak for 9 million, again no interest, apparently it owes the seller considerably more than that.

the 207tw plot of land i mentioned at the bottom of Soi 6 was apparently bought by Nova, another mate of mine here, knows the guy who owned it & sold it to Nova.

Mine is on 328tw of land & has a nice house on it as well.

Isnt that indicative of your home being worth 18m previously and now 15m ? It's only worth what someone will offer you for it, regardless of what you think it's worth.

I'd really start to market it at 20 million if thats what you really want for it rather than offering a 20% discount for cash, that just sounds like there's something amiss.

[dickie58]

For your information, i was offered 18 million sometime ago 4 my house & i said no, i have also been offered 15 mill recently also said no to that.

Its my house & will sell it for whats its worth, not what you guys think it worth.

So where are all these pictures & details of your fabulous properties??????

I'm just back fom having some work done on my car @ Toyota, while i was waiting, I got chatting to a nice British chap, the conversation eventually got around to Ptty real estate, he was saying he has a 160sqm condo on the beach @ Jomtien 4 sale, (12 milion bht), had it listed with 2 agents since middle of last year hardly had any viewings.

One of the agents he has it with is is where my mate works, I popped into see him on the way back, he showed me some pictures of the condo, looked very nice to me.

The guy at Toyota i mentioned above was also saying he has a mate who has a condo for sale in Phratmanak for 9 million, again no interest, apparently it owes the seller considerably more than that.

the 207tw plot of land i mentioned at the bottom of Soi 6 was apparently bought by Nova, another mate of mine here, knows the guy who owned it & sold it to Nova.

Mine is on 328tw of land & has a nice house on it as well.

Isnt that indicative of your home being worth 18m previously and now 15m ? It's only worth what someone will offer you for it, regardless of what you think it's worth.

I'd really start to market it at 20 million if thats what you really want for it rather than offering a 20% discount for cash, that just sounds like there's something amiss.

My house is for sale for 25 mill, i was just saying these offers above are what i have turned down.

I'm offering a 20% discount for cash on a private deal (no agents fees) on the asking price, it's not hard to work out the figure i will accept.

[bow]

Is it correct to say that it is a buyers market at the moment ?

You can get property for half price, or less. There must be people desperate for cash, willing to sell at any price.

Me, sorry, I don't have the money, and if I had, I would buy something in Bang Na (end of Sukhumvit).

[bobbin]

This thread says it all how good it is about buying a condo in Ptty, buyers beware:

/quote]

Bit of an OTT statement wouldn't you say?

How about " Best stay clear of houses and land. Dodgy ownership and all that."

Similar, no?

[dickie58]

Bit of an OTT statement wouldn't you say?

How about " Best stay clear of houses and land. Dodgy ownership and all that."

Similar, no?

No i don't think it is simlar, isn't there a farang quota in place that only 49% of the units in a condo building can be owned in a farang name?

What about the remaining 51% in a condo, Thai name or Thai company name, isnt that basically the same deal as owning a house & land?

Didn't think you got any land as such when you bought a condo, you get much more for your money buying a house & land, isn't that true?

Edited February 9, 2010 by dickie58

[LennyW]

No i don't think it is simlar, isn't there a farang quota in place that only 49% of the units in a condo building can be owned in a farang name?

What about the remaining 51% in a condo, Thai name or Thai company name, isnt that basically the same deal as owning a house & land?

Didn't think you got any land as such when you bought a condo, you get much more for your money buying a house & land, isn't that true?

Very true, and at least with a house you dont have to refer to a book of rules every 5 minutes to see if you are allowed to do something or not in your "own" building!!

Edited February 9, 2010 by LennyW

[fredlk]

No i don't think it is simlar, isn't there a farang quota in place that only 49% of the units in a condo building can be owned in a farang name?

What about the remaining 51% in a condo, Thai name or Thai company name, isnt that basically the same deal as owning a house & land?

Didn't think you got any land as such when you bought a condo, you get much more for your money buying a house & land, isn't that true?

Very true, and at least with a house you dont have to refer to a book of rules every 5 minutes to see if you are allowed to do something or not in your "own" building!!

Since when can a foreigner own the land? Even ownership of the house on leased / borrowed land is insecure.

[LennyW]

No i don't think it is simlar, isn't there a farang quota in place that only 49% of the units in a condo building can be owned in a farang name?

What about the remaining 51% in a condo, Thai name or Thai company name, isnt that basically the same deal as owning a house & land?

Didn't think you got any land as such when you bought a condo, you get much more for your money buying a house & land, isn't that true?

Very true, and at least with a house you dont have to refer to a book of rules every 5 minutes to see if you are allowed to do something or not in your "own" building!!

Since when can a foreigner own the land? Even ownership of the house on leased / borrowed land is insecure.

Who said foreigner can own the land? How do you figure ownership of a house on leased land is insecure? and what is borrowed land?

[basjke]

No i don't think it is simlar, isn't there a farang quota in place that only 49% of the units in a condo building can be owned in a farang name?

What about the remaining 51% in a condo, Thai name or Thai company name, isnt that basically the same deal as owning a house & land?

Didn't think you got any land as such when you bought a condo, you get much more for your money buying a house & land, isn't that true?

Very true, and at least with a house you dont have to refer to a book of rules every 5 minutes to see if you are allowed to do something or not in your "own" building!!

Since when can a foreigner own the land? Even ownership of the house on leased / borrowed land is insecure.

Exactly,a house is even not 49% in foreigner name it is 0% in foreigner name.

[simcity]

Perhaps I should look at selling my house to buy yours?

[LennyW]

Exactly,a house is even not 49% in foreigner name it is 0% in foreigner name.

Exactly....WRONG!! a house can be 100% in foreign name!! just not the land it sits on!

Suggest you have a look throught the real estate forum, and take fredlk with you!

[bobbin]

There is no basis for legal secure ownership ( in your own name ) of a house with property. And I'm aware of all the common "work-arounds".

Whereas the chanote to a condo has your name on it, and is the only legal route for an individual to own property.

[Tejas]

Expats where I live lease the house for, I think, 30 years with a 30 year option after the first 30 years expires.

The problem is TIT.

There is so much insecurity and corruption now you don't know what they might do in terms of the laws.

The entire legal structure that regulates real estate could change tomorrow.

Thailand is a Third World, backward-looking country.

It seems determined to fall behind all of its neighbors in terms of positive development.

And with a rising tide of xenophobia (foreigners go away but leave your money attitude), anything might happen.

If you have to stay here for whatever reason, rent.

[123ace]

This thread says it all how good it is about buying a condo in Ptty, buyers beware:

http://www.thaivisa.com/forum/Northshore-H...ng-t337499.html

Aren't the condos in Northshore very pricey?

Although there is no doubting it is a nice very central downtown location, with great Sea views

Why buyer beware? a commitee is taking control and have removed what appears to be a salesman - how does this in any way impact the common interests of the owners in the building?

[sharecropper]

This thread says it all how good it is about buying a condo in Ptty, buyers beware:

http://www.thaivisa.com/forum/Northshore-H...ng-t337499.html

Aren't the condos in Northshore very pricey?

Although there is no doubting it is a nice very central downtown location, with great Sea views

Why buyer beware? a commitee is taking control and have removed what appears to be a salesman - how does this in any way impact the common interests of the owners in the building?

Were these comments meant for the Northshore thread?

I am noticing more condo owner management company activism of late, started at the Jomtien Complex and the VT7 wars, and now Northshore has woken up - for better or for worse will probably not be known until it is too late, and then there will be more committee infighting.

Any other examples?

Edited February 9, 2010 by sharecropper

[123ace]

This thread says it all how good it is about buying a condo in Ptty, buyers beware:

http://www.thaivisa.com/forum/Northshore-H...ng-t337499.html

Aren't the condos in Northshore very pricey?

Although there is no doubting it is a nice very central downtown location, with great Sea views

Why buyer beware? a commitee is taking control and have removed what appears to be a salesman - how does this in any way impact the common interests of the owners in the building?

Were these comments meant for the Northshore thread?

I am noticing more condo owner management company activism of late, started at the Jomtien Complex and the VT7 wars, and now Northshore has woken up - for better or for worse will probably not be known until it is too late, and then there will be more committee infighting.

Any other examples?

It is too be expected that owner groups will push back against one man band and quasi local property managers - most with no professional management experience, unlikely to know the condo act has been revised and what this means for juristic condos.

With the market under sales value pressure this whole sector will likley look to move up a notch in perception at least, so owners can try to protect their assets and remain competitive in the face of new supply.

Most condos discussed here are relatively new and the benefits of real management will become a lot more apparent over the next few years. Bad mgt and poor maintence can lead to huge repair costs within just a few years.

Its a good thing for the pattaya market I expect. More like Bangkok and less like today's Pattaya.

[yankee99]

This thread says it all how good it is about buying a condo in Ptty, buyers beware:

http://www.thaivisa.com/forum/Northshore-H...ng-t337499.html

Aren't the condos in Northshore very pricey?

Although there is no doubting it is a nice very central downtown location, with great Sea views

Why is this relevant to pattaya. I see things like this happen in the usa all the time. Really no big deal..

Is it correct to say that it is a buyers market at the moment ?

You can get property for half price, or less. There must be people desperate for cash, willing to sell at any price.

Me, sorry, I don't have the money, and if I had, I would buy something in Bang Na (end of Sukhumvit).

Half the price of what? If you think you can regularly buy property at half the asking price you are dead wrong...not many condos selling at 17000 a sqm

[jb4446]

Once the Euro goes kaput which it is sure to do,Spain Italy and all the other south European countries will devalue making thigs there a whole lot cheaper.These far flung places have done well through the likes of Europe being so expensive .I would like to get nearer home,have free medical care,2 hour plane ride away from friends and family

A couple of years along the road this place will be like a wildeness as far as property is concered,its OK buying you think cheaply but try to sell impossible I always bought with an eye to eventually selling and there is absolutely no hope of that here.

[Naam]

"Once the Euro goes kaput which it is sure to do,Spain Italy and all the other south European countries will devalue making thigs there a whole lot cheaper."

you have my permission to keep on dreaming

[Naam]

I have never really understood paying large amounts of money for land and houses in third world countries.

Lack of infrastructure, crime, political uncertainty, corrupt police and judiciary, unfriendly land laws etc all make spending a lot of money on real estate in Thailand a bit problematic.

I suppose if you have bucketloads of money and it is small potatoes to you then go ahead.

BTW Plenty of beachside properties of good value in Australia outside the capital cities for 25 million baht or thereabouts and you can bank on it being a good investment.

i have read at least a dozen of these ignorant uninformed comments about Australia. here's the real beef:

not only the fancy aussie income-tax but minimum capital requirements and minimum income for foreigners are rather big hurdles. however, additional restrictions render Australia totally worthless for foreign retirees. every two years a financial/tax and a health check. if you don't pass... although it is mandatory to maintain a comprehensive health insurance... POOF... you are requested to book a flight to your home country. we bought land in Queensland (120km north of Brisbane), planned our house, negotiated with construction companies and were all set to start building when in december 1999 the above-mentioned restriction was passed.

[Barack]

I have never really understood paying large amounts of money for land and houses in third world countries.

Lack of infrastructure, crime, political uncertainty, corrupt police and judiciary, unfriendly land laws etc all make spending a lot of money on real estate in Thailand a bit problematic.

I suppose if you have bucketloads of money and it is small potatoes to you then go ahead.

BTW Plenty of beachside properties of good value in Australia outside the capital cities for 25 million baht or thereabouts and you can bank on it being a good investment.

i have read at least a dozen of these ignorant uninformed comments about Australia. here's the real beef:

not only the fancy aussie income-tax but minimum capital requirements and minimum income for foreigners are rather big hurdles. however, additional restrictions render Australia totally worthless for foreign retirees. every two years a financial/tax and a health check. if you don't pass... although it is mandatory to maintain a comprehensive health insurance... POOF... you are requested to book a flight to your home country. we bought land in Queensland (120km north of Brisbane), planned our house, negotiated with construction companies and were all set to start building when in december 1999 the above-mentioned restriction was passed.

Nice to hear a different view. Thailand as it's faults no doubt but it has plenty of offsets that make it a desireable retirement location for many of us.

[Naam]

Nice to hear a different view. Thailand as it's faults no doubt but it has plenty of offsets that make it a desireable retirement location for many of us.

for a long time i have been wondering why the tax advantage of Thailand is mentioned by only a handful people. did those others who are moaning never pay any taxes in their home countries? how can somebody recommend

"Plenty of beachside properties of good value in Australia outside the capital cities for 25 million baht or thereabouts and you can bank on it being a good investment."

and not take into consideration the huge big difference in living cost and especially the income tax which, for a high net worth individual, is more than he spends in Thailand for a comparatively luxurious lifestyle? that's beyond my comprehension! would perhaps the poster concerned enlighten me why an investment which renders a negative yield is "good"?

[Pakboong]

Expats where I live lease the house for, I think, 30 years with a 30 year option after the first 30 years expires.

The problem is TIT.

There is so much insecurity and corruption now you don't know what they might do in terms of the laws.

The entire legal structure that regulates real estate could change tomorrow.

Thailand is a Third World, backward-looking country.

It seems determined to fall behind all of its neighbors in terms of positive development.

And with a rising tide of xenophobia (foreigners go away but leave your money attitude), anything might happen.

If you have to stay here for whatever reason, rent.

ํThe simple fact that Somchai does not care if I own land in his country always makes me a bit uneasy. Somebody does care however, and it is that somebody that I fear will do what ever they can to keep the land for themselves.

Edited February 10, 2010 by Pakboong

[123ace]

A major concern with the pattaya condo situation is that Bangkok Thai owner occupiers or long weekenders are not buying anymore in sufficinet numbers, particulary in the affordable mid range which is the new foundation of the market, and increasingly this is the sector which is most at odds with the markets viability - necessitating 51% local ownership. Thai's with this level of spending power simply do not want to co-habitate with foreigners of generally a low - mid class background. They buy condos in Hua Hin.

If the mid-class locals continue not to desire condo ownership in Pattaya then I agree that the re-sales outlook is bleak. Local Pattaya Thai's do not have the spending power or perhaps even desire to buy these condos, and the majority are migrant workers anyway that would sooner build a home where they originate from.