Good Article

[sharecropper]

His house isn't unreasonably priced, if you look at the price tags on houses in some of the posher developments on the other side of Sukhumvit Road, whereas he's in a much better location with a big house on a good sized piece of land.

But I still think he will have trouble selling in this market at that price. I don't think the buyers are there any more.

Dickie58 why not do a Kinnaree?

[pgt99]

I am thinking of living in Pattaya/Jomtien area and perhaps retiring here or hereabouts. Presently I am renting a large condo in Jomtien that will do for present. I work in or around S.E. Asia and will make this area my base. However, there are two things that stop me from buying.

Firstly, the political situation could change over night making it very uncomfortable for foreign property owners.

Secondly, the stupid law that stops a foreigner owning lanf in Thailand. Would never put it in a Thai's name if married, etc. Too many come a cropper. Also, the stupid visa regulations.

I could take my hard earned cash somewhere else where the sun still shines.

[Firestarter]

Just rent, dead easy.

Plus if the Nasty drug dealer, noisy Karaoke, dogs barking. Screaming wife. Drunken aggressive husbands, horrible kids, thieving gipsy bastards move in next door,

Life wont be much fun in your dream home.

And that’s just the falangs im talking about.

Just rent.

Simple isn’t it

Having a bit of land around you, wont stop the above. and the above can effect your chance of any re-sale.

Or blow 460 big ones, on a house.

[CGW]

^ Agree renting is the best option for some people, but if you intend staying here?

I first bought around 10 years ago, I rented for 10 years before that, the decision to buy was made because the rental houses on the market at that time were few and generally of a very low quality, living in a rented house simply was not comfortable for me.

To rent the house I am in now would be around 55k a month (would have been more a few years back) so 55k x 12 x 10 = 6.6m, another year of living here will cover the original purchase price of the house, so I for one am glad I bought at the time, though in all honesty, not so sure I could make the same decision given the current political and financial situation!

Edited January 25, 2010 by CGW

[inzman]

You can still sell if you dont ask ridiculas prices, I sold my house, full price the first month I listed it in Pattaya. I asked 2.5 million, and that is what I paid for it 5 years ago. But the usd has gone south 25% since than, so I made a nice 25 % profit!

[dickie58]

impossible to sell this house for this price. You can buy a new one, very much the same for about 3,000,000.00 baht. In many places even much cheaper.

If you think you can buy a house like mine in this area for anywhere near 3 milion bht, you clearly dreaming.

Your talking rubbish.

Look at the land prices in this area before you make any silly comments!!

You can't even get a house with 5 bedrooms & 5 bathrooms (internal living space 350sqm), on nearly 1 rai of land on the darkside for 3 milion.

[dickie58]

^ Agree renting is the best option for some people, but if you intend staying here?

I first bought around 10 years ago, I rented for 10 years before that, the decision to buy was made because the rental houses on the market at that time were few and generally of a very low quality, living in a rented house simply was not comfortable for me.

To rent the house I am in now would be around 55k a month (would have been more a few years back) so 55k x 12 x 10 = 6.6m, another year of living here will cover the original purchase price of the house, so I for one am glad I bought at the time, though in all honesty, not so sure I could make the same decision given the current political and financial situation!

If your the same guy i think you are I thought you use to live in Soi Kaowtalo, there are not many house up there what would demand a rent of 55,000 bht per month?

With regard to an earlier post you made. I bought this land in 2002, & built the house which was completed in 2003.

Am i not entitled to make a profit, & sell it at the current market value, all the agents i have it listed with gave it the same valuation?

Are these Thai & Farang developers building houses & condos, not making a profit, why don't you ask them what % profit there making?

[LaoPo]

^ Agree renting is the best option for some people, but if you intend staying here?

I first bought around 10 years ago, I rented for 10 years before that, the decision to buy was made because the rental houses on the market at that time were few and generally of a very low quality, living in a rented house simply was not comfortable for me.

To rent the house I am in now would be around 55k a month (would have been more a few years back) so 55k x 12 x 10 = 6.6m, another year of living here will cover the original purchase price of the house, so I for one am glad I bought at the time, though in all honesty, not so sure I could make the same decision given the current political and financial situation!

If your the same guy i think you are I thought you use to live in Soi Kaowtalo, there are not many house up there what would demand a rent of 55,000 bht per month?

With regard to an earlier post you made. I bought this land in 2002, & built the house which was completed in 2003.

Am i not entitled to make a profit, & sell it at the current market value, all the agents i have it listed with gave it the same valuation?

Are these Thai & Farang developers building houses & condos, not making a profit, why don't you ask them what % profit there making?

Of course, of course!

The point is not what price all the agents value your house for and what you call Market Value (you're only pleasing yourself)...it's the final buyer who decides how much he wishes to pay for it.

If you decide to sell it for that price is entirely up to you.

You seem to forget you're trying to sell in a buyers' market not a sellers market. That could be a problem if one doesn't have the time and needs to sell.

At present, the whole (real estate) world is for sale; the problem is there are no buyers and I do not see a change in the market for quite some time to come, including in Thailand !

If I read stories about developers who have empty houses for sale for years but are still building houses I ask myself if it wouldn't be better for him to visit a good shrink, instead of keeping on building.

It's like throwing cash Baht into the Gulf of Thailand.

Nuts

LaoPo

Edited January 25, 2010 by LaoPo

[Pakboong]

^ Agree renting is the best option for some people, but if you intend staying here?

I first bought around 10 years ago, I rented for 10 years before that, the decision to buy was made because the rental houses on the market at that time were few and generally of a very low quality, living in a rented house simply was not comfortable for me.

To rent the house I am in now would be around 55k a month (would have been more a few years back) so 55k x 12 x 10 = 6.6m, another year of living here will cover the original purchase price of the house, so I for one am glad I bought at the time, though in all honesty, not so sure I could make the same decision given the current political and financial situation!

If your the same guy i think you are I thought you use to live in Soi Kaowtalo, there are not many house up there what would demand a rent of 55,000 bht per month?

With regard to an earlier post you made. I bought this land in 2002, & built the house which was completed in 2003.

Am i not entitled to make a profit, & sell it at the current market value, all the agents i have it listed with gave it the same valuation?

Are these Thai & Farang developers building houses & condos, not making a profit, why don't you ask them what % profit there making?

Nothing is going to re-invent the bubble of this past decade. The market will continue to fall. You may be experience a profit if you sell quickly at a very carefully considered price. The single detached house price index ending 1st quarter 2002 stood at 115.8. At the end of 3rd quarter 2009 the same index stood at 107.2 and the fourth quarter data which is not out yet could easliy drop below 100. This data is put out by BOT and goes back to 1 quarter 1995 when the index was 102.7. The index topped out at 161.2 at the end of the 1st quarter of 2006. This data is very consistent with the world wide housing bubble and should come as a surprise only to those" not paying attention". So if your house is worth that much less than when you bought it, how is it you think you deserve a profit. Fortunately for many, the land value has not dropped as steeply, but the future even for land is not good. There are signals that this housing price index could go as low as the 70s. The value an estate agent or that a developer puts on a property will not be factored into this index. The BOT link is indicated below. The index has not been below 100 apparently since 1991(charts at the below link only go back to 1995) and that ain't good considering it is about to go below 100.

http://www.bot.or.th/English/Statistics/Ec...Indicators.aspx

[dickie58]

^ Agree renting is the best option for some people, but if you intend staying here?

I first bought around 10 years ago, I rented for 10 years before that, the decision to buy was made because the rental houses on the market at that time were few and generally of a very low quality, living in a rented house simply was not comfortable for me.

To rent the house I am in now would be around 55k a month (would have been more a few years back) so 55k x 12 x 10 = 6.6m, another year of living here will cover the original purchase price of the house, so I for one am glad I bought at the time, though in all honesty, not so sure I could make the same decision given the current political and financial situation!

If your the same guy i think you are I thought you use to live in Soi Kaowtalo, there are not many house up there what would demand a rent of 55,000 bht per month?

With regard to an earlier post you made. I bought this land in 2002, & built the house which was completed in 2003.

Am i not entitled to make a profit, & sell it at the current market value, all the agents i have it listed with gave it the same valuation?

Are these Thai & Farang developers building houses & condos, not making a profit, why don't you ask them what % profit there making?

Of course, of course!

The point is not what price all the agents value your house for and what you call Market Value (you're only pleasing yourself)...it's the final buyer who decides how much he wishes to pay for it.

If you decide to sell it for that price is entirely up to you.

You seem to forget you're trying to sell in a buyers' market not a sellers market. That could be a problem if one doesn't have the time and needs to sell.

At present, the whole (real estate) world is for sale; the problem is there are no buyers and I do not see a change in the market for quite some time to come, including in Thailand !

If I read stories about developers who have empty houses for sale for years but are still building houses I ask myself if it wouldn't be better for him to visit a good shrink, instead of keeping on building.

It's like throwing cash Baht into the Gulf of Thailand.

Nuts

LaoPo

I agree with you that its a buyers market, & that the whole world is suffering regarding real estate & there values. I never said it would be easy to sell?

But its fair to say that i would accept a reasonable offer for a cash deal on my place

[Jaydillon]

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

But don't you think the market in Pattaya in air thin for houses of 25M Baht or US$ 750.000.00 (€ 535K)?

Possible prospects, having this kind of cash available, would they buy in or around Pattaya nowadays with the present real estate laws in place....?

I don't know.

LaoPo

Simple answer is NO

[craigt3365]

I was house hunting in Phuket this past summer. The agent told me NOTHING over 20M Baht was selling...nothing. But, she was doing some business. I worked with her for a few weeks and during that time saw at least 2 deals close. Not sure if they were condos or houses. But overall, she said the market was dead.

The market here is pretty much like the market in Las Vegas, where I come from. Thousands of homes for sale, many in foreclosure. Very few new ones being built. Poor availability of jumbos (greater than $417K USD)...heck, poor availability of any loan. There are many places in the US where this is also the case.

But things are starting to pickup. Sales have been happening, but the houses were fairly priced, and lower value. The gentleman's house mentioned above for 25M Baht may be fairly priced, but there are just no buyers.

I was at a development in Huay Yai a few months ago. Very nice homes and fairly priced. I think the entire development was sold out...maybe one house left. In my development, a few homes have been resold recently. One for a fair amount of money. But there are several others just sitting.

I have a friend in the RE biz in California. It is tough there right now. He says the biggest problem he has is with sellers who think it is still 2006. And that they should get a decent profit for the house they bought in 2004. Well, prices have fallen and if they can't get their heads around that, their house will be priced too high and won't sell. I think that is the case for many properties here. I sure can't blame the owners for not wanting to take a loss, but who knows how long it will be until this turns around? My Mom's house is in this same situation. So, we are just sitting on it until the market recovers. Luckily, no need to sell right now, otherwise we would take a beating on the house.

[Pakboong]

I was house hunting in Phuket this past summer. The agent told me NOTHING over 20M Baht was selling...nothing. But, she was doing some business. I worked with her for a few weeks and during that time saw at least 2 deals close. Not sure if they were condos or houses. But overall, she said the market was dead.

The market here is pretty much like the market in Las Vegas, where I come from. Thousands of homes for sale, many in foreclosure. Very few new ones being built. Poor availability of jumbos (greater than $417K USD)...heck, poor availability of any loan. There are many places in the US where this is also the case.

But things are starting to pickup. Sales have been happening, but the houses were fairly priced, and lower value. The gentleman's house mentioned above for 25M Baht may be fairly priced, but there are just no buyers.

I was at a development in Huay Yai a few months ago. Very nice homes and fairly priced. I think the entire development was sold out...maybe one house left. In my development, a few homes have been resold recently. One for a fair amount of money. But there are several others just sitting.

I have a friend in the RE biz in California. It is tough there right now. He says the biggest problem he has is with sellers who think it is still 2006. And that they should get a decent profit for the house they bought in 2004. Well, prices have fallen and if they can't get their heads around that, their house will be priced too high and won't sell. I think that is the case for many properties here. I sure can't blame the owners for not wanting to take a loss, but who knows how long it will be until this turns around? My Mom's house is in this same situation. So, we are just sitting on it until the market recovers. Luckily, no need to sell right now, otherwise we would take a beating on the house.

Number of sales of existing homes in the US just set a new one month record last month being off 16.7%; doesn't sound like things are getting better to me.

http://www.economicpolicyjournal.com/2010/...all-167-in.html

[sorensen]

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

Excuse my ignorance but what makes your house worth 25,000,000? Is it the land location?

Very nice house, land prices in Phratmanak hill area very high.

There is a 1 rai piece of land 200 metres from my house for 38 milion bht, fantastic sea views.

Also 2.5 rai almost oposite me for 60 milion bht, neither owned by me unfortunatley!!!

Come on, no way 2.5 rai is worth 60 million baht anywhere in Pattaya. This house (http://oceanhomemag.com/mcafee-puts-moloka...comment-page-1/) was sold for 49 million baht in Hawaii with 13 rai (5.3 acre) of land.

Real estate is just not worth was it use to be in 2008, only holding power is keeping the wet dreams alive.

Nice house by the way, but 25 million.....don't think so.

[craigt3365]

I was house hunting in Phuket this past summer. The agent told me NOTHING over 20M Baht was selling...nothing. But, she was doing some business. I worked with her for a few weeks and during that time saw at least 2 deals close. Not sure if they were condos or houses. But overall, she said the market was dead.

The market here is pretty much like the market in Las Vegas, where I come from. Thousands of homes for sale, many in foreclosure. Very few new ones being built. Poor availability of jumbos (greater than $417K USD)...heck, poor availability of any loan. There are many places in the US where this is also the case.

But things are starting to pickup. Sales have been happening, but the houses were fairly priced, and lower value. The gentleman's house mentioned above for 25M Baht may be fairly priced, but there are just no buyers.

I was at a development in Huay Yai a few months ago. Very nice homes and fairly priced. I think the entire development was sold out...maybe one house left. In my development, a few homes have been resold recently. One for a fair amount of money. But there are several others just sitting.

I have a friend in the RE biz in California. It is tough there right now. He says the biggest problem he has is with sellers who think it is still 2006. And that they should get a decent profit for the house they bought in 2004. Well, prices have fallen and if they can't get their heads around that, their house will be priced too high and won't sell. I think that is the case for many properties here. I sure can't blame the owners for not wanting to take a loss, but who knows how long it will be until this turns around? My Mom's house is in this same situation. So, we are just sitting on it until the market recovers. Luckily, no need to sell right now, otherwise we would take a beating on the house.

Number of sales of existing homes in the US just set a new one month record last month being off 16.7%; doesn't sound like things are getting better to me.

http://www.economicpolicyjournal.com/2010/...all-167-in.html

Yeah, that is not good. But like the article stated, the number was heavily impacted by the weather. I am in the RE Biz in Las Vegas. My partners are actually starting to see deals again for what we do. Haven't seen many the past few years. My pal in California who is an agent is saying 2010 will be his best year since 2007. He already has quite a few deals in the pipeline, which is unusual for so early in the year.

So....from what I am hearing, things are starting to look a little better. But still FAR away from normal. At least there is a pin prick of light at the end of the tunnel.

[dickie58]

I was house hunting in Phuket this past summer. The agent told me NOTHING over 20M Baht was selling...nothing. But, she was doing some business. I worked with her for a few weeks and during that time saw at least 2 deals close. Not sure if they were condos or houses. But overall, she said the market was dead.

The market here is pretty much like the market in Las Vegas, where I come from. Thousands of homes for sale, many in foreclosure. Very few new ones being built. Poor availability of jumbos (greater than $417K USD)...heck, poor availability of any loan. There are many places in the US where this is also the case.

But things are starting to pickup. Sales have been happening, but the houses were fairly priced, and lower value. The gentleman's house mentioned above for 25M Baht may be fairly priced, but there are just no buyers.

I was at a development in Huay Yai a few months ago. Very nice homes and fairly priced. I think the entire development was sold out...maybe one house left. In my development, a few homes have been resold recently. One for a fair amount of money. But there are several others just sitting.

I have a friend in the RE biz in California. It is tough there right now. He says the biggest problem he has is with sellers who think it is still 2006. And that they should get a decent profit for the house they bought in 2004. Well, prices have fallen and if they can't get their heads around that, their house will be priced too high and won't sell. I think that is the case for many properties here. I sure can't blame the owners for not wanting to take a loss, but who knows how long it will be until this turns around? My Mom's house is in this same situation. So, we are just sitting on it until the market recovers. Luckily, no need to sell right now, otherwise we would take a beating on the house.

A few of the local Ptty agents are saying things are starting to pick up, but mid to low end of the market.

I no one Ptty agent who sold 4 condos last week, & they weren't all studio's

That house in Hawai is very nice, that guy really seems to be enjoying life, good luck to him.

Edited January 26, 2010 by dickie58

[craigt3365]

I think you have to separate the condo market from the house market. Due to land ownership laws, houses are a real problem right now. Condos are much easier to deal with for foreigners. I know there are some abandoned condo shells around, but the ones I visited seemed to be doing fairly well...some were 100% sold out.

[NormanW]

The real estate crash yet has to arrive in Thailand.How do you explain that there is an economic crisis all over the world but Thailand,where the property market mostly exists out of second residences,escapes the downturn?A lot of investors in the western world have to sell their primary home but they will be able to buy a second home or what.

Have a look around at those recently finished condo's and count the lights that are turned on at night.You don't need a notepad to memorize them.

Great reply basjke, yes just look around at night and see the lights on, NOT.

Example: those disgusting View Talay Russian prisons they call condos.

Terrible concept in which to live.

I get depressed just looking at them, god knows what it feels like actually living in one!

How did he get permission too build those? (Don't worry, we all know).

Have a great day.

[NormanW]

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

Excuse my ignorance but what makes your house worth 25,000,000? Is it the land location?

25mil in Pattaya LOL no wonder no cun_t's made an offer,Pattay is finish mate no one in there right mind will put a penny down on property.Pattaya is good to get a oil massage and a few beers down if you know what I mean lads

That's a point, and don't forget to say hello to all those nice Russian people on the way to your massage!!!

[sharecropper]

Just rent, dead easy.

Plus if the Nasty drug dealer, noisy Karaoke, dogs barking. Screaming wife. Drunken aggressive husbands, horrible kids, thieving gipsy bastards move in next door,

Life wont be much fun in your dream home.

And that’s just the falangs im talking about.

Just rent.

Simple isn’t it

Having a bit of land around you, wont stop the above. and the above can effect your chance of any re-sale.

Or blow 460 big ones, on a house.

I agree. I have been here for 8 years renting the same condo (at the same rent!) and I have never once thought "I wish I'd bought". If I ever had a problem with neighbours, I'd just move.

I'd prefer to have my money working for me elsewhere and I still think Thailand has a lot of sorting out to do, unfortunately.

[Pakboong]

I think you have to separate the condo market from the house market. Due to land ownership laws, houses are a real problem right now. Condos are much easier to deal with for foreigners. I know there are some abandoned condo shells around, but the ones I visited seemed to be doing fairly well...some were 100% sold out.

End of 3rd quarter Asia housing prices Thailand stood at $2,495 /square meter. I fully expect this number to drop below $2,000 soon if it hasn't already.

Based upon Average per square metre (sq. m.) prices in US$/€ of 120-sq. m. apartments located in the centre of the most important city of each country, either the:

* Administrative capital; and/or

* Financial capital; and/or

* The centre of the rental market

http://www.globalpropertyguide.com/Asia/Th...e-meter-prices#

[Pakboong]

I was house hunting in Phuket this past summer. The agent told me NOTHING over 20M Baht was selling...nothing. But, she was doing some business. I worked with her for a few weeks and during that time saw at least 2 deals close. Not sure if they were condos or houses. But overall, she said the market was dead.

The market here is pretty much like the market in Las Vegas, where I come from. Thousands of homes for sale, many in foreclosure. Very few new ones being built. Poor availability of jumbos (greater than $417K USD)...heck, poor availability of any loan. There are many places in the US where this is also the case.

But things are starting to pickup. Sales have been happening, but the houses were fairly priced, and lower value. The gentleman's house mentioned above for 25M Baht may be fairly priced, but there are just no buyers.

I was at a development in Huay Yai a few months ago. Very nice homes and fairly priced. I think the entire development was sold out...maybe one house left. In my development, a few homes have been resold recently. One for a fair amount of money. But there are several others just sitting.

I have a friend in the RE biz in California. It is tough there right now. He says the biggest problem he has is with sellers who think it is still 2006. And that they should get a decent profit for the house they bought in 2004. Well, prices have fallen and if they can't get their heads around that, their house will be priced too high and won't sell. I think that is the case for many properties here. I sure can't blame the owners for not wanting to take a loss, but who knows how long it will be until this turns around? My Mom's house is in this same situation. So, we are just sitting on it until the market recovers. Luckily, no need to sell right now, otherwise we would take a beating on the house.

There is always weather in December, this is still a record and nothing about it looks good.

Number of sales of existing homes in the US just set a new one month record last month being off 16.7%; doesn't sound like things are getting better to me.

http://www.economicpolicyjournal.com/2010/...all-167-in.html

Yeah, that is not good. But like the article stated, the number was heavily impacted by the weather. I am in the RE Biz in Las Vegas. My partners are actually starting to see deals again for what we do. Haven't seen many the past few years. My pal in California who is an agent is saying 2010 will be his best year since 2007. He already has quite a few deals in the pipeline, which is unusual for so early in the year.

So....from what I am hearing, things are starting to look a little better. But still FAR away from normal. At least there is a pin prick of light at the end of the tunnel.

This still a record and nothing about the situation looks good. There is always worse weather in winter, it also gets dark earlier.

Edited January 26, 2010 by Pakboong

[jb4446]

Yes just seen on television,US house sales down 17% in December,and thats from a virtually zero base.

OK heres the bottom line,the guy that started this thread come down 70% throw in the 60 inch slimline tv and we have a deal!!!

[Beardog]

The only homes that turned in the Bang Sare area for any change were at a terrible loss . A 7 bdr., 6 bath pool on 1&1/2 rai parcel with built in pool 3 satellites 3 phase power with newer Samsung 52 inch TV sound system all western kitchen & furnishings. Farang paid over 12.5 mill. + the furnishings he kicked in. He wound up selling for 4.3 million & the new owner assumed his loan(included in the 4.3 mill price) The Beach front land we looked at for 20 million a rai on the beach( A JOKE) now down to 7 mill & he can't even get a looker. About 6 builders(projects soon to go under here. Built at the wrong time 2006 was the end. My nearest neighbor has his place up for 6 million & while he can rent it out, no one wants it. Land is still a decent buy if purchaced low & no house on it to sell later. Even at that the market peaked out in 2006. Pattaya & Bang Sare are in the same area & the same boat. The 20+ million units are hel_l to unload even in BKK they are not moving. And the worst of it is for 25 million I would rather build my house & not buy someone Else's plan as my taste or anyone's will be different. Even at 12.5 you will have a hard time moving the house in this touch economy & the kicker is if you wait it out 5-10 years your house is an older item & goes for less not more. I do not see a correction upward in the market with the current problems in Thailand. Now if your house is in the 2-3 million market you might get lookers- but cash is king right now. Easy to spend & hard to sell. But there are still renters.

[CGW]

^ Agree renting is the best option for some people, but if you intend staying here?

!

If your the same guy i think you are I thought you use to live in Soi Kaowtalo, there are not many house up there what would demand a rent of 55,000 bht per month?

With regard to an earlier post you made. I bought this land in 2002, & built the house which was completed in 2003.

Am i not entitled to make a profit, & sell it at the current market value, all the agents i have it listed with gave it the same valuation?

Are these Thai & Farang developers building houses & condos, not making a profit, why don't you ask them what % profit there making?

We have never met and I don't live on Kaotalo.

Off course you are entitled to make a profit, that was not my point, I think if you are serious about selling your price would have to be more realistic, even to the point of considering the exchange rate as another poster has mentioned, if you are happy to wait for the right buyer to come along, which hopefully - one day they will? your asking price may well be met. To be honest I am surprised, given the popularity of the area you are in that you have had no more inquires than you have had, which again is a sad indicator to the state of the market.

[craigt3365]

Everybody has different desires. For me, I don't want to rent. Thailand is my home and I don't plan on moving. Luckily, where I am, there will be no karaoke bars or soi dogs barking at all hours. Otherwise, I would not have purchased...or even rented...

I am retired because I did not rent. If I had, I would still be working. There are many others out there just like me who made a fair amount of money with their home purchases. Unfortunately, now is not the time to do that, but if you are willing to stay put for 10 years, I guarantee you will make a profit. And by then, if you had rented, you would be out a lot of cash.

If it is your home and you don't want to move, who cares what it could currently sell for? It just does not matter. Right?

Historically, real estate goes up 2-3% a year. Over time. I don't see any reason that won't continue. Some years up, some years down. But consistently on a slow upward path.

[thaimate]

We rent a lovely 3 bed house ,in 4 years the rent has been reduced twice to ensure we stay ,all repairs carried out immediatly ,we are lucky that our landlady is very westernized and knows the score ,however i have baught (in my wifes name) lots of land upcountry ,this has gone up fourfold in value and when i pop my glogs she can build what she wants near her familly . personally i think buying a house in pattaya is a millstone around your neck,make your money work for you . i know some will say they would never put anything in the wifes name ,well thats them ,we have been married a long time and if god forbid we split ,she is welcome to it.

[moo9]

Come on, no way 2.5 rai is worth 60 million baht anywhere in Pattaya.

Try to buy 2 Rai at Wongamat beach at 60 Mio, good luck.

But agree that this is a top location which cannot be compared with the East Side.

Cheers

[Pakboong]

Everybody has different desires. For me, I don't want to rent. Thailand is my home and I don't plan on moving. Luckily, where I am, there will be no karaoke bars or soi dogs barking at all hours. Otherwise, I would not have purchased...or even rented...

I am retired because I did not rent. If I had, I would still be working. There are many others out there just like me who made a fair amount of money with their home purchases. Unfortunately, now is not the time to do that, but if you are willing to stay put for 10 years, I guarantee you will make a profit. And by then, if you had rented, you would be out a lot of cash.

If it is your home and you don't want to move, who cares what it could currently sell for? It just does not matter. Right?

Historically, real estate goes up 2-3% a year. Over time. I don't see any reason that won't continue. Some years up, some years down. But consistently on a slow upward path.

It is in the best interest of all of us who call Pattaya home that these bubble houses and condos become occupied. In order for that to happen, they have to be priced based upon the realities of the market, not what price was originally paid. We need to get back to health and get on with things. Some village management teams are now getting by with a guard on the gate and a Cambodian lady sweeping the common areas. It will get worse and the largest single discriminator for purchase will be the health of the village. Unhealthy villages will simply die out.

[Firestarter]

We rent a lovely 3 bed house ,in 4 years the rent has been reduced twice to ensure we stay ,all repairs carried out immediatly ,we are lucky that our landlady is very westernized and knows the score ,however i have baught (in my wifes name) lots of land upcountry ,this has gone up fourfold in value and when i pop my glogs she can build what she wants near her familly . personally i think buying a house in pattaya is a millstone around your neck,make your money work for you . i know some will say they would never put anything in the wifes name ,well thats them ,we have been married a long time and if god forbid we split ,she is welcome to it.

I agree, good post.

Was going to buy a house for my wife in pattaya. but dont think its worth it.

looking at a few other locations in Thailand.

Funny had my rent reduced twice in the last year. made a bit of noise about moving out.

down come the rent!!!!!