So Many Upmarket "apartments" Being Built.

[lonewolf99]

The next generation of Pattaya real estate buyers will be mainland Chinese, 2 to 3 years time, bet yah!!!

No they will not. Try and understand that: Mainland chinese are not allowed to take money out of the country, they can't communicate in English or Thai, their home economy is far better, they would have nothing to do here, lack of chinese food, visa restrictions would make thsi hard and.... its a long list.

Correct....and the Chinese housing market is about to collapse...they have been building hel_l for leather recently now they have run out of people to buy...any Farrang for a flat in Quinxiong Ding Dong Province ? I doubt it...

I have been asking the same question about "who is going to buy in Pattaya?" for the last 2 years. Very soon the Russians are going to run out of "black money" to hide in Real Estate here. And soon they will run out of space on Cozy Beach.....unless they build the "Worlds Biggest Condo"...I am still waiting for them to start that one as well ...!!!!!!!

[kevozman1]

I think you would have to be brave, stupid or just not give a f*** to purchase property

in a country like Thailand.

[prk888]

how many here have seen Chinese sitting on beaches sunbathing or drinking beer in bars. In my experience of working and living in Chinese societies it's mahjong, horse racing and all other forms of gambling plus celebratory brandy/whisky sessions which drive the Chinese way of relaxing - see Macau's amazing recent growth since 1999.

No, in my view Pattya will never be colonised by Chinese.

[somtampet]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

Edited May 14, 2010 by somtampet

[PattayaParent]

<snip>

You may not be aware that Indians form one of the largest wealth groups in Thailand, owning huge parts of Sukhumvit - and I mean huge. They are just quiet about it.

Including Nana Plaza!

[loong]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

I hope that's not off plan.

Can be dodgy putting down a deposit if the complex isn't completed

[Rimmer]

Troll post and two replies deleted

[Asianrider]

Most condo building sell the farang quota no problem, and this half is paying cash. Gives the developer a nice healthy profit, to build his next half empty building !!!

[jori]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

This post has been edited by somtampet: Today, 2010-05-14 13:11:30

Most condo building sell the farang quota no problem, and this half is paying cash. Gives the developer a nice healthy profit, to build his next half empty building !!!

The brain goes limp it goes into spasm,little wonder that posts get deleted.Ok personally I want out,and I'm getting out,not quite at the finishing line yet, but getting there

How the hel_l when you rub shoulders with the majority of farangs,which I do,(alright there is a tiny minority that don't for one reason or another ,children ,or property owners,with no way out)) they are all one minded,wanting out and getting out.

Ten million Baht,in the real world if that property was put up for re-sale immediately after completion I would estimate a figure of two and a half million might be manageable,and that is a generous amount,where do these people come from? straight off the 'plane obviously and as for the farang quota being no problem ,Christ what tree did someone climb?

Believe me this place is finished,don't believe me?,ask some of the longer term residents heres Sure I'll get a few bad reviews here,but as I said for one reason or another most want out,the ones who are stuck here,it's up to them,but it is burying your head in the sand just like an ostrich

All I can say is ask your cousin to think twice,do not throw good money after bad,it's a lost cause.

[somtampet]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

I hope that's not off plan.

Can be dodgy putting down a deposit if the complex isn't completed

Believe me,he knows what he is doing

[somtampet]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

This post has been edited by somtampet: Today, 2010-05-14 13:11:30

Most condo building sell the farang quota no problem, and this half is paying cash. Gives the developer a nice healthy profit, to build his next half empty building !!!

The brain goes limp it goes into spasm,little wonder that posts get deleted.Ok personally I want out,and I'm getting out,not quite at the finishing line yet, but getting there

How the hel_l when you rub shoulders with the majority of farangs,which I do,(alright there is a tiny minority that don't for one reason or another ,children ,or property owners,with no way out)) they are all one minded,wanting out and getting out.

Ten million Baht,in the real world if that property was put up for re-sale immediately after completion I would estimate a figure of two and a half million might be manageable,and that is a generous amount,where do these people come from? straight off the 'plane obviously and as for the farang quota being no problem ,Christ what tree did someone climb?

Believe me this place is finished,don't believe me?,ask some of the longer term residents heres Sure I'll get a few bad reviews here,but as I said for one reason or another most want out,the ones who are stuck here,it's up to them,but it is burying your head in the sand just like an ostrich

All I can say is ask your cousin to think twice,do not throw good money after bad,it's a lost cause.

Forgot to tell you,he has set up a business too and will retire from uk at 50 with a very large nest egg.There are people in Pattaya with huge money and huge brains too,and its not a bar or laundry

[norrona]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

This post has been edited by somtampet: Today, 2010-05-14 13:11:30

Most condo building sell the farang quota no problem, and this half is paying cash. Gives the developer a nice healthy profit, to build his next half empty building !!!

The brain goes limp it goes into spasm,little wonder that posts get deleted.Ok personally I want out,and I'm getting out,not quite at the finishing line yet, but getting there

How the hel_l when you rub shoulders with the majority of farangs,which I do,(alright there is a tiny minority that don't for one reason or another ,children ,or property owners,with no way out)) they are all one minded,wanting out and getting out.

Ten million Baht,in the real world if that property was put up for re-sale immediately after completion I would estimate a figure of two and a half million might be manageable,and that is a generous amount,where do these people come from? straight off the 'plane obviously and as for the farang quota being no problem ,Christ what tree did someone climb?

Believe me this place is finished,don't believe me?,ask some of the longer term residents heres Sure I'll get a few bad reviews here,but as I said for one reason or another most want out,the ones who are stuck here,it's up to them,but it is burying your head in the sand just like an ostrich

All I can say is ask your cousin to think twice,do not throw good money after bad,it's a lost cause.

Forgot to tell you,he has set up a business too and will retire from uk at 50 with a very large nest egg.There are people in Pattaya with huge money and huge brains too,and its not a bar or laundry

the old saying goes....the best way to make a small fortune in Pattaya

Start off with a big one

[jori]

Believe me,he knows what he is doing

Sure he does,blind leading the blind.

I would like to come back to this thread in a couple of years time,quote for quote,put a side line bet on,I know who would win. No problem

[PhilHarries]

A guy puts down a deposit on a ten million condo in Pattaya and he knows what he's doing?

There was another guy like that, who knew what he was doing, put 5,000 quid on Labour winning the election.

Not the same guy is it?

[Pakboong]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

This post has been edited by somtampet: Today, 2010-05-14 13:11:30

Most condo building sell the farang quota no problem, and this half is paying cash. Gives the developer a nice healthy profit, to build his next half empty building !!!

The brain goes limp it goes into spasm,little wonder that posts get deleted.Ok personally I want out,and I'm getting out,not quite at the finishing line yet, but getting there

How the hel_l when you rub shoulders with the majority of farangs,which I do,(alright there is a tiny minority that don't for one reason or another ,children ,or property owners,with no way out)) they are all one minded,wanting out and getting out.

Ten million Baht,in the real world if that property was put up for re-sale immediately after completion I would estimate a figure of two and a half million might be manageable,and that is a generous amount,where do these people come from? straight off the 'plane obviously and as for the farang quota being no problem ,Christ what tree did someone climb?

Believe me this place is finished,don't believe me?,ask some of the longer term residents heres Sure I'll get a few bad reviews here,but as I said for one reason or another most want out,the ones who are stuck here,it's up to them,but it is burying your head in the sand just like an ostrich

All I can say is ask your cousin to think twice,do not throw good money after bad,it's a lost cause.

Thank god, somebody is actually paying attention.

[Pakboong]

My cousin has just put a deposit down for a 10 million baht condo,so people are still buying

This post has been edited by somtampet: Today, 2010-05-14 13:11:30

Most condo building sell the farang quota no problem, and this half is paying cash. Gives the developer a nice healthy profit, to build his next half empty building !!!

The brain goes limp it goes into spasm,little wonder that posts get deleted.Ok personally I want out,and I'm getting out,not quite at the finishing line yet, but getting there

How the hel_l when you rub shoulders with the majority of farangs,which I do,(alright there is a tiny minority that don't for one reason or another ,children ,or property owners,with no way out)) they are all one minded,wanting out and getting out.

Ten million Baht,in the real world if that property was put up for re-sale immediately after completion I would estimate a figure of two and a half million might be manageable,and that is a generous amount,where do these people come from? straight off the 'plane obviously and as for the farang quota being no problem ,Christ what tree did someone climb?

Believe me this place is finished,don't believe me?,ask some of the longer term residents heres Sure I'll get a few bad reviews here,but as I said for one reason or another most want out,the ones who are stuck here,it's up to them,but it is burying your head in the sand just like an ostrich

All I can say is ask your cousin to think twice,do not throw good money after bad,it's a lost cause.

Forgot to tell you,he has set up a business too and will retire from uk at 50 with a very large nest egg.There are people in Pattaya with huge money and huge brains too,and its not a bar or laundry

Not many and not for long. A guy named Tony comes to mind.

[kevozman1]

Always apartments being built, always.

What is real madness with Pattaya is the amount of shopping malls

that has been built. I mean what the f***. There is about 6 in a 2 mile

square.

[frenchfarangjomtien]

Hi,

Do you think that we can expect any discount to buy property in Thailand ?

If anybody can report his own experience, thank you.

[jupiler]

The market is just waiting for a total real estate collapse and exactly the same as it took the Spanish real estate market to collapse.

The entire Spanish GDP was, for a large part, totally depending on construction.

The result is -VISIBLE- more than 1 million houses on the market, for sale...but no buyers. In a country with 40 million people and even more than 50 (!) million tourists. Thailand doesn't even have 10 million on a yearly basis; forget about the visa running expats and returning visitors from Malaysia and other neighbouring countries, and 99% of those will never consider buying property in Thailand.

And, what's more, that's the visible part of the -for sale- market in Spain; there is a very large and very painful real estate market from owners who do not even dare to put their property on the market and hope for better times.

WHO is paying for the maintenance in the coming 1, 2 and more years...?

If you leave a house empty for some time...go back and look what happened in the past 6 months...

It's the same, maybe on a smaller scale, in Thailand; waiting for a disaster.

LaoPo

Amen!

[sgunn65]

When I was looking to buy there were not any real bargains in the 8 million + market. And whatever people think Pattaya is the fastest growing city in Thailand. What does this mean for property? People will come and people will buy.

Look at it from another point of view that doesn't include the sex industry and some of the wests less savoury characters.

Pattaya is now one hour from Bangkok

It is by the sea

It is less than half an hour from the largest motor industry area

There is a growing middle class in Thailand

These are all good reasons why people will come to Pattaya, not neccesarily Farang.

With 150,000 westerners in Bangkok who like a weekend by the sea Pattaya will endure by virtue of its geographical location.

Someone like me who has to be in Bangkok at least one day a week on business can do the commute in a day without stress (as long as I leave to miss the traffic) and be home to watch the sun go down over the sea. I can eat in a vast array of good restaurants and shop for western foods in several good supermarkets. If I want to take part in the madness it is near enough but far enough to not encroach on my life.

And 10 million baht will buy a condo almost twice as big I could have in Bangkok. Is it a good investment? Probably not but I want to live in a nice place and my plans are to be in Thailand for the long term. If that doesn't happen then maybe I will lose money but if it does I will be living in a beautiful place with lovely views of the sea.

Life is short and it is not a dress rehearsal. I do believe that this country will endure as it always has and reports of Pattayas demise are premature.

I guess if you came here with a limited budget and have grown bored of the scene or the pound or dollar rate have affected you badly then getting out of dodge may seem the right thing. But for many people coming here Pattaya has alot going for it. Name any city in the world that does not have its problems but then weigh up all the things Pattaya has to counter its bad points. Whats the answer? Well as the Thais say, "Up to you"

Edited May 16, 2010 by sgunn65

[Forkinhades]

When I was looking to buy there were not any real bargains in the 8 million + market. And whatever people think Pattaya is the fastest growing city in Thailand. What does this mean for property? People will come and people will buy.

Look at it from another point of view that doesn't include the sex industry and some of the wests less savoury characters.

Pattaya is now one hour from Bangkok

It is by the sea

It is less than half an hour from the largest motor industry area

There is a growing middle class in Thailand

These are all good reasons why people will come to Pattaya, not neccesarily Farang.

With 150,000 westerners in Bangkok who like a weekend by the sea Pattaya will endure by virtue of its geographical location.

Someone like me who has to be in Bangkok at least one day a week on business can do the commute in a day without stress (as long as I leave to miss the traffic) and be home to watch the sun go down over the sea. I can eat in a vast array of good restaurants and shop for western foods in several good supermarkets. If I want to take part in the madness it is near enough but far enough to not encroach on my life.

And 10 million baht will buy a condo almost twice as big I could have in Bangkok. Is it a good investment? Probably not but I want to live in a nice place and my plans are to be in Thailand for the long term. If that doesn't happen then maybe I will lose money but if it does I will be living in a beautiful place with lovely views of the sea.

Life is short and it is not a dress rehearsal. I do believe that this country will endure as it always has and reports of Pattayas demise are premature.

I guess if you came here with a limited budget and have grown bored of the scene or the pound or dollar rate have affected you badly then getting out of dodge may seem the right thing. But for many people coming here Pattaya has alot going for it. Name any city in the world that does not have its problems but then weigh up all the things Pattaya has to counter its bad points. Whats the answer? Well as the Thais say, "Up to you"

a sensible post at last

[midas]

<snip>

You may not be aware that Indians form one of the largest wealth groups in Thailand, owning huge parts of Sukhumvit - and I mean huge. They are just quiet about it.

Including Nana Plaza!

Do you mean Sukhumvit Bangkok ?

But you cant compare Indians in Sukhumvit to blowing your money on a condo in Pattaya

The Indians are shrewd - they have huge families clubbing together to build entire apartment buildings ( not condos )

and they then rent them all out to expats. e.g. Orchid Tower on Soi 8.

There is always a steady stream of expats who will have their employers pay the rent.

But this situation will never be achieved in Pattaya

I agree with whoever said it will be like the Spanish property market - a total dud

[TheWalkingMan]

Sometimes I think the property market in Pattaya is something of an economic anomaly. I really do not think that the prices will plunge because of the following:

Many of the buyers are using excess cash and treating their purchase as an investment. Hence so many condos being sold by the developer and not fitted out. The investors figure, why bother to fit them out when another will come along and hopefully I can sell for a profit. That might explain why many buildings look dark in the evening... The condo has been sold, but no one actually lives there. Which is probably a plus for the city. Can you imagine the strain on the infrastructure if all the condos in the city were occupied?

The pull of Thailand. Thailand has a very strong brand name.

Let's be honest, for many people Thailand is absolute heaven and nothing will stop them from owning something. The mai-pen-rai attitude, getting away from the nanny gov't etc, etc pulls on some like the sirens of the sea.

Of course there will be the occasional condo sold at a discount because the owner is short on cash or just wants to get out of the condo. Those deals will occur, but I think they are not the usual.

For the single male, Pattaya offers a lot. The beach, an abundance of non-Thai food, decent internet connections and nightly rental services, if one wishes to indulge. What more could one want? All those things do not add up to a gang buster real estate market, but add up market that will not implode.

TheWalkingMan

[jori]

"When I was looking to buy there were not any real bargains in the 8 million + market. And whatever people think Pattaya is the fastest growing city in Thailand. What does this mean for property? People will come and people will buy."

"I guess if you came here with a limited budget and have grown bored of the scene or the pound or dollar rate have affected you badly then getting out of dodge may seem the right thing. But for many people coming here Pattaya has alot going for it. Name any city in the world that does not have its problems but then weigh up all the things Pattaya has to counter its bad points. Whats the answer? Well as the Thais say, "Up to you""

Firstly put an ad in a local publication "property wanted",up to any figure you are prepared to pay,you'll get plenty%

Edited May 16, 2010 by jori

[sicktodeathofit]

This is why I love living here see. You can pretend to be who you want, me well i haven't got a pot to piddle in so what I say is and have been saying the same thing for years, is, "the property market will crash here" it works a charm and gets me out of embarrassing situations with others who I know from back home who bought here 10 years ago, I was running out of excuses but after the Bangkok troubles its giving me more ammunition (no pun intended) to back up my claim. So here I am got nothing and never will have, i often join in on forum threads about the FTSE, Gold, which way the markets going etc....i dont have an absoulte clue what im on about but people think i do, so if you got nothing like me just tell people "its gonna crash im not buying anything here" just rent your little room and your honda wave and stand in the bars with your head high and shout "I'm a millionaire but i wouldn't buy anything here!"

[Forkinhades]

This is why I love living here see. You can pretend to be who you want, me well i haven't got a pot to piddle in so what I say is and have been saying the same thing for years, is, "the property market will crash here" it works a charm and gets me out of embarrassing situations with others who I know from back home who bought here 10 years ago, I was running out of excuses but after the Bangkok troubles its giving me more ammunition (no pun intended) to back up my claim. So here I am got nothing and never will have, i often join in on forum threads about the FTSE, Gold, which way the markets going etc....i dont have an absoulte clue what im on about but people think i do, so if you got nothing like me just tell people "its gonna crash im not buying anything here" just rent your little room and your honda wave and stand in the bars with your head high and shout "I'm a millionaire but i wouldn't buy anything here!"

At least your honest so how many more ppl like you out there in patters I wonder.....hhmmmm, I used to think a 100 billion was a lot. The amount of stars in the sky, then I saw the UK deficit. Sorry to digress a little , a little warped perhaps

[jori]

UK deficit bad?,just read reports of the US deficit supposedly 100%,makes a world of difference after the economic breaks are applied just how much money is in circulation to fund anything,particuarily foreign property purchases

"I guess if you came here with a limited budget and have grown bored of the scene or the pound or dollar rate have affected you badly then getting out of dodge may seem the right thing. But for many people coming here Pattaya has alot going for it. Name any city in the world that does not have its problems but then weigh up all the things Pattaya has to counter its bad points. Whats the answer? Well as the Thais say, "Up to you""

Good statement above,boredem does weigh heavy,I should think most will be effected by the exchange rates too,but tourist Thailand sucks,nothing to do 'cept eat and drink,drink and eat,bit of golf,property pricing and then bed

[Tejas]

"When I was looking to buy there were not any real bargains in the 8 million + market. And whatever people think Pattaya is the fastest growing city in Thailand. What does this mean for property? People will come and people will buy."

:D

[Heng]

Would the Indians really be welcomed to buy from the Thais?? I thought the Thais have a very strong dislike for Indians??

We like them enough to allow them citizenship though.

[suiging]

Certain sad events in the near future will trigger the birth of the gaming industry in the fair Patters. Add to that the golf and the inevitable race track and you will have the Asian invasion in spades.

Edited May 17, 2010 by suiging