Good Article

[thaimate]

To all you guys who advocate buying/building properties and being tied to it if you cant sell. Dont you realize that after a lifetime of being tied to purchasing , we came here to be "free" to be able to do what we want when we want ,life is short ,enjoy it the way you want to ,this discussion could run and run ,those who want to own a property and be tied down ,great ,but let us who dont,get on with it,Naam, take note

[Langsuan Man]

Seems to me that the marketers feel that the "luxury" segment is still here and buying

For instance, a new one on the shore in upper Naklua (under construction)

http://www.oceansedgepattaya.com/index.html

A bargain:

I am pleased to enclose the price list and the list of current unit availability.

We currently have a 'special' on the second floor, building D which is a 're-sale' on one unit only. The owner has experienced some difficulties in Dubai, and wishes to offload the commitment to OE. The price is 22 million baht, considerably lower than the list price, as he purchased early in the project. I am willing to allow a straight owner 'swop' to assume the contract and conditions which is 12 million baht immediate, 5million baht on April 25th 2010 and the balance on transfer of unit (summer 2010). This is a one off deal available 'first come, first served' basis.

Trust me I am just copying and pasting an email I received from them (no snide comments about the Dubai reference please )

Another instance, NaJomtien

http://www.baantalaypattaya.com/home.html

Another bargain :

Price start 25,400,000 baht

[dickie58]

Seems to me that the marketers feel that the "luxury" segment is still here and buying

For instance, a new one on the shore in upper Naklua (under construction)

http://www.oceansedgepattaya.com/index.html

A bargain:

I am pleased to enclose the price list and the list of current unit availability.

We currently have a 'special' on the second floor, building D which is a 're-sale' on one unit only. The owner has experienced some difficulties in Dubai, and wishes to offload the commitment to OE. The price is 22 million baht, considerably lower than the list price, as he purchased early in the project. I am willing to allow a straight owner 'swop' to assume the contract and conditions which is 12 million baht immediate, 5million baht on April 25th 2010 and the balance on transfer of unit (summer 2010). This is a one off deal available 'first come, first served' basis.

Trust me I am just copying and pasting an email I received from them (no snide comments about the Dubai reference please )

Another instance, NaJomtien

http://www.baantalaypattaya.com/home.html

Another bargain :

Price start 25,400,000 baht

I wouldn't call either of these projects new, been working on both of these projects for sometimes. You forget to mention Ocean Edge is absoloute beachfront, & very high end, the developer "Andrew" is a real nice guy.

For 25 mill in Baan Talay you don't get much, the beach front houses are way more expensive than that, lot of wealthy Thai's have bought in there so i was told?

[Naam]

To all you guys who advocate buying/building properties and being tied to it if you cant sell. Dont you realize that after a lifetime of being tied to purchasing , we came here to be "free" to be able to do what we want when we want ,life is short ,enjoy it the way you want to ,this discussion could run and run ,those who want to own a property and be tied down ,great ,but let us who dont,get on with it,Naam, take note

please take note that this thread was about selling a house. unfortunately and and not unusual it deteriorated to a discussion of "rent or own".

[Naam]

To all you guys who advocate buying/building properties and being tied to it if you cant sell.

not everybody wants to sell.

[thaimate]

To all you guys who advocate buying/building properties and being tied to it if you cant sell.

not everybody wants to sell.

Not everybody wants to buy. but sometimes you have to sell, not all are as lucky as you Naam.

[jb4446]

Ultimately we need Thai buyers to stimulate the market, and mortgages for foreigners would help anything over THB 10m. The absence of these further compounds the pressure on the less desirable that form bulk of the market which is now overly reliant on a sigle demographic - Newly arrived single male expat with disposlable income.

I think Mr newly arrived single male with disposable income will quickly realise there is not enough space to swing a cat let alone meet the needs of forthcoming attractions,another source of selling coming up.

[siggie2]

I have my house for sale in Ptty, i have had it listed with 14 agents since August 2009.

In total i have had 5 viewings, from 3 agents. No buyers, or offers.

Quite a few of the agents haven't even advertised it.

Its not that there is something wrong with the property.

http://classifieds.thaivisa.com/?act=show_...4&aid=28866

your house is not the easiest to sell.Who would want a 5 bedroom house <deleted>.

[siggie2]

Ultimately we need Thai buyers to stimulate the market, and mortgages for foreigners would help anything over THB 10m. The absence of these further compounds the pressure on the less desirable that form bulk of the market which is now overly reliant on a sigle demographic - Newly arrived single male expat with disposlable income.

I think Mr newly arrived single male with disposable income will quickly realise there is not enough space to swing a cat let alone meet the needs of forthcoming attractions,another source of selling coming up.

All houses are thai buyers indirectly,and why would mortgages for foreigners benefit,as foreigners cannot own land.The main reason houses are not selling is the strenght of the thai baht and global recession.Maybe a good kickstart would be a foreigner can own 1 rai max of land,as many foreigners tend to buy condos because they cannot trust tirak.Who in their right mind would buy a condo if a house was available to purchase,there would be few sales of condos then

[siggie2]

I dont feel pressure to sell as the rental market is good at the moment

[Naam]

To all you guys who advocate buying/building properties and being tied to it if you cant sell.

not everybody wants to sell.

Not everybody wants to buy. but sometimes you have to sell, not all are as lucky as you Naam.

luck is not involved but logical thinking is.

-if you can only buy by bending financially backwards, don't buy.

-if you might face a situation where you are forced to sell, don't buy.

-if you consider the roof over your head an "investment" don't buy in Thailand.

-if you are happy with the taste a landlord provides, rent.

-if you like begging a landlord "may i...", rent.

-if you want to be "free" and all your belonging fit in one or two suitcases, rent.

-if your belongings are precious (even if precious only to you) and you need two big containers to move, buy.

-if you are happy with a tiny studio don't bitch. it's none of your business to bitch about people who own 5-bedroom (or more) homes.

-if you want to bitch about the afore-mentioned people do it in your favourite bar over a few Chang and address your opposite who does not understand you language

[LennyW]

your house is not the easiest to sell.Who would want a 5 bedroom house <deleted>.

An expat family perhaps, remember, not everyone in Pattaya is a single monger!!!

[sorensen]

Just came accross this add http://classifieds.thaivisa.com/real-estat...sale-41925.html), which seem to be more reasonable priced.

The title "Beautiful designed home just reduced from 6.5 to 4.9 for quick sale" is clearly showing where prices are going when the owner is serious about selling.

[yankee99]

Just came accross this add http://classifieds.thaivisa.com/real-estat...sale-41925.html), which seem to be more reasonable priced.

The title "Beautiful designed home just reduced from 6.5 to 4.9 for quick sale" is clearly showing where prices are going when the owner is serious about selling.

25 km. outside Chiang Rai

[sharecropper]

25 km. outside Chiang Rai

So in Estate Agentspeak "Pattaya borders".?

[dickie58]

To all you guys who advocate buying/building properties and being tied to it if you cant sell.

not everybody wants to sell.

Not everybody wants to buy. but sometimes you have to sell, not all are as lucky as you Naam.

luck is not involved but logical thinking is.

-if you can only buy by bending financially backwards, don't buy.

-if you might face a situation where you are forced to sell, don't buy.

-if you consider the roof over your head an "investment" don't buy in Thailand.

-if you are happy with the taste a landlord provides, rent.

-if you like begging a landlord "may i...", rent.

-if you want to be "free" and all your belonging fit in one or two suitcases, rent.

-if your belongings are precious (even if precious only to you) and you need two big containers to move, buy.

-if you are happy with a tiny studio don't bitch. it's none of your business to bitch about people who own 5-bedroom (or more) homes.

-if you want to bitch about the afore-mentioned people do it in your favourite bar over a few Chang and address your opposite who does not understand you language

Very wise words Mr Naam

[123ace]

Ultimately we need Thai buyers to stimulate the market, and mortgages for foreigners would help anything over THB 10m. The absence of these further compounds the pressure on the less desirable that form bulk of the market which is now overly reliant on a sigle demographic - Newly arrived single male expat with disposlable income.

I think Mr newly arrived single male with disposable income will quickly realise there is not enough space to swing a cat let alone meet the needs of forthcoming attractions,another source of selling coming up.

All houses are thai buyers indirectly,and why would mortgages for foreigners benefit,as foreigners cannot own land.The main reason houses are not selling is the strenght of the thai baht and global recession.Maybe a good kickstart would be a foreigner can own 1 rai max of land,as many foreigners tend to buy condos because they cannot trust tirak.Who in their right mind would buy a condo if a house was available to purchase,there would be few sales of condos then

I have to disagree with you on your perspective. Firstly condo's are convenient - lock up & leave, others manage, repair and guard it etc. They also have better views - relatively speaking as more homes can face the sea. The strenght of the thai baht is an issue I agree, but there is still some real demand, so its not the cause of the problem.

Houses in Pattya are far more at risk for break-ins and this has been quite a problem from time to time.

It would seem clear that allowing mortgages to foreigners would in one stroke solve half of the problem with Pattaya (the unsold condos) and by increasing the foriegn quota this would potentially reslove the market and alter Pattaya potentially to a leading market in the region, rather than a fledgling market.

I do not think most foreign or Thai buyers would rather have a house in-land, in prefernce to a condo on the beach. Some maybe, but world wide evidence would not support your view.

[Naam]

your house is not the easiest to sell.Who would want a 5 bedroom house <deleted>.

An expat family perhaps, remember, not everyone in Pattaya is a single monger!!!

some of the mongers are married!

[PattayaParent]

I do not think most foreign or Thai buyers would rather have a house in-land, in prefernce to a condo on the beach. Some maybe, but world wide evidence would not support your view.

Price wise it makes more sense to have a house and land as it's much cheaper for a bigger space but I think if foreigners were allowed to buy land then the prices would rise (because all Farangs are rich and can pay more).

[dickie58]

Price wise it makes more sense to have a house and land as it's much cheaper for a bigger space but I think if foreigners were allowed to buy land then the prices would rise (because all Farangs are rich and can pay more).

PP,

Although I agree with what most of what you say above, i think its fair to say Farangs can buy land, they just can't own it in there own name?

There are still some good deals around on nice land, like this below:

http://www.pattayadailynews.com/en/bb/viewtopic.php?t=2983

You couldn't go wrong with that deal

[LennyW]

All houses are thai buyers indirectly,and why would mortgages for foreigners benefit,as foreigners cannot own land.The main reason houses are not selling is the strenght of the thai baht and global recession.Maybe a good kickstart would be a foreigner can own 1 rai max of land,as many foreigners tend to buy condos because they cannot trust tirak.Who in their right mind would buy a condo if a house was available to purchase,there would be few sales of condos then

siggie2 is touching on an interesting point here, imagine if the Government were to actually legally allow the ownership of up to 1 rai for a foreigners residence........

Overnight there would be a massive increase in House & Land sales, Condo prices would have to drop to a realistic level to compete therefore resulting in an increase in sales of Condos too...

Win win for Buyers, Sellers and the Govt.......or is that just too simple???

[dickie58]

All houses are thai buyers indirectly,and why would mortgages for foreigners benefit,as foreigners cannot own land.The main reason houses are not selling is the strenght of the thai baht and global recession.Maybe a good kickstart would be a foreigner can own 1 rai max of land,as many foreigners tend to buy condos because they cannot trust tirak.Who in their right mind would buy a condo if a house was available to purchase,there would be few sales of condos then

siggie2 is touching on an interesting point here, imagine if the Government were to actually legally allow the ownership of up to 1 rai for a foreigners residence........

Overnight there would be a massive increase in House & Land sales, Condo prices would have to drop to a realistic level to compete therefore resulting in an increase in sales of Condos too...

Win win for Buyers, Sellers and the Govt.......or is that just too simple???

Very good point Lenny.

The problem is i don't think the goverment is likley to make this move/new ruiling anytime soon, unfortunatley for us!!

[jb4446]

All the talk of win-win regarding the Thai govt relaxing property rules,yes have seen it all before,the govt relaxing property rules etc etc.

Looking at a parallel scene a few hours plane ride away,all the foreigners were full of the same talk a few years ago,exactly the same,just the same as being stated here,but things rapidly went lose-lose,property confiscated,visas being withdrawn,the same is going to happen here before too long,perhaps its already happening with the visa situation rapidly changing

[123ace]

The vast majority of potential first time foreign buyers do not know the local foreign ownership laws until they study the issue. Therefore based on the level of intial demand received across the markets it would appear that seriously interested parties pursue their desire to buy irrespective of the land ownership limitations and proceed to buy via the known existing methods. Therefore any change in land ownership for non-Thais would more likley see an influx of Indains and other immigrant groups rather than a substantial increase Europeans / Americans.

An immediate assumption would be made that freehold is more valuable (to the methods currently positioned by some as being 'as good as' freehold) and this would stall the market as prices are already not seen as cheap anymore relative to non-capital city european housing markets on the beach like Blackpool or Brighton - which are better comparables to make, rather than central london or Hong Kong as so often is the case.

Also as Pattaya has virtually no mainstrem business beyond tourism, unlike Miami or Brighton, there is little to attract the more mainstream expatriate demographics. So it would more likley remain a destination for the single male and to a lesser extent retiree's. Again diluting the wider market appeal and necessity for freehold housing over condo's.

The best step at this stage is to increase the condo foreign quoata, to perhaps 70%.

[Langsuan Man]

If anyone seriously thinks there is going to be any change in the Thai Property laws all I can say is remember the Thai Elite Card fiasco

Fool me once, shame on you

Fool me twice, shame on me

[sorensen]

All the talk of win-win regarding the Thai govt relaxing property rules,yes have seen it all before,the govt relaxing property rules etc etc.

Looking at a parallel scene a few hours plane ride away,all the foreigners were full of the same talk a few years ago,exactly the same,just the same as being stated here,but things rapidly went lose-lose,property confiscated,visas being withdrawn,the same is going to happen here before too long,perhaps its already happening with the visa situation rapidly changing

What country are you referring to?

[Naam]

25 km. outside Chiang Rai

So in Estate Agentspeak "Pattaya borders".?

[Naam]

All the talk of win-win regarding the Thai govt relaxing property rules,yes have seen it all before,the govt relaxing property rules etc etc.

Looking at a parallel scene a few hours plane ride away,all the foreigners were full of the same talk a few years ago,exactly the same,just the same as being stated here,but things rapidly went lose-lose,property confiscated,visas being withdrawn,the same is going to happen here before too long,perhaps its already happening with the visa situation rapidly changing

not to forget that the sky will be falling

[LennyW]

The vast majority of potential first time foreign buyers do not know the local foreign ownership laws until they study the issue. Therefore based on the level of intial demand received across the markets it would appear that seriously interested parties pursue their desire to buy irrespective of the land ownership limitations and proceed to buy via the known existing methods. Therefore any change in land ownership for non-Thais would more likley see an influx of Indains and other immigrant groups rather than a substantial increase Europeans / Americans.

True, but who cares what nationality as long as they are spending the money.

An immediate assumption would be made that freehold is more valuable (to the methods currently positioned by some as being 'as good as' freehold) and this would stall the market as prices are already not seen as cheap anymore relative to non-capital city european housing markets on the beach like Blackpool or Brighton - which are better comparables to make, rather than central london or Hong Kong as so often is the case.

Nonsense, you cannot compare Pattaya with the wild and windswept beaches of Blighty!!

Also as Pattaya has virtually no mainstrem business beyond tourism, unlike Miami or Brighton, there is little to attract the more mainstream expatriate demographics. So it would more likley remain a destination for the single male and to a lesser extent retiree's. Again diluting the wider market appeal and necessity for freehold housing over condo's.

Nonsense, the single male / monger is rapidly becoming a minority here, take a look around, a lot of family's holidaying here now, you seem to be of the mindset that Pattaya is only to be represented by the activities of walking street and soi 6 etc., things have progressed somewhat these days!

The best step at this stage is to increase the condo foreign quoata, to perhaps 70%.

What???? and allow the condo developers to reap more ludicrious sums of money for their unsightly concrete boxes!!!!

Are you a condo developer by any chance???

[jb4446]

Goa is where the foreigners are losing their homes,visas being withdrawn ie visas now are issued on a 90 day stay maximum with a stay away for 2 months before obtaining another 90 day visa,just how would property owners cope with just the visa situation here let alone being called for investigation of just how you managed to actually buy the property here in Thailand,all happening now in Goa ,just three hours away

The sky has fallen on top of them ,thousands of 'em

Edited February 15, 2010 by jb4446