Nirum Condo - Why Are They So Expensive?

[londoedan]

Thaifan2 : Sent you a PM.

Simon

[win2]

To the OP,what are the prices today for condo's in nirun? 2 years ago you could buy a 28sq.room for around 360,000 baht and a double for 700,000 baht,and at those prices they were cheap as chips.How much for them now i wonder?

This can't be a longterm invest. Maintenance might be quite expensive. However it is good enough to save some money if you go out on a regular base in town and don't want to pay the guest house every time.

I saw them advertised in the high 300's and low 400's for the 26m units and the 36 starting around 650k. Not sure about the actual selling prices. I know one guy that paid 420k recently(26m)I thought he over paid.

my monthly mat. fees were 300b(26m unit)

[SirPaul]

I have been speaking to property sellers in the Nirum Condo and this investigation has led me to find out why the prices in Nirum are going up even though the bhat is strong and Pattaya is very quiet due to a world recession.

The market has been distorted - A chinese man is buying all the condo's. He owns many small condos and most of the condos now on floor 14 of the tall block. Quiet clever really, when times are tough people look for cheaper accommodation. So buy loads of it up, have people employed to give the condos a make-over so they look good for flangs, and then sit back and collect rent. When things get better, property prices go up with demand, then sell.

[jori]

I have been speaking to property sellers in the Nirum Condo and this investigation has led me to find out why the prices in Nirum are going up even though the bhat is strong and Pattaya is very quiet due to a world recession.

The market has been distorted - A chinese man is buying all the condo's. He owns many small condos and most of the condos now on floor 14 of the tall block. Quiet clever really, when times are tough people look for cheaper accommodation. So buy loads of it up, have people employed to give the condos a make-over so they look good for flangs, and then sit back and collect rent. When things get better, property prices go up with demand, then sell.

The market distorted? I'd say devastated. The Chinese will gamble on anything,anything at all. To that man he probably has nowhere to put his money,it's just a gamble as to what happens in the future,but if he has paid a little then he will not lose that much if he manages to sell.

The European and the US economy is kaput and getting worse,Chinese and other far eastern countries going the same way

[Thaifan2]

^ >> But Pattaya still seems to be tempting for me at the moment <<

I hope you are right but i have a small Condo for sale in Jomtien in a good location at a cheap price with very few viewings over just a month now .I have also a condo for rent in Jomtien in a brand new complex over the same period with no takers as of yet .Its eary days though .

Is your place for rent in Park Lane ? If so how much per month for a minimum 6 month contract ? (I'm looking for somewhere starting end-July).

Simon

My Park Lane place is now rented out on a years contract .

[Rumcabal]

I have been speaking to property sellers in the Nirum Condo and this investigation has led me to find out why the prices in Nirum are going up even though the bhat is strong and Pattaya is very quiet due to a world recession.

The market has been distorted - A chinese man is buying all the condo's. He owns many small condos and most of the condos now on floor 14 of the tall block. Quiet clever really, when times are tough people look for cheaper accommodation. So buy loads of it up, have people employed to give the condos a make-over so they look good for flangs, and then sit back and collect rent. When things get better, property prices go up with demand, then sell.

The market has been distorted - really??? There's a willing buyer, a willing seller, both of whom are happy with the purchase price or else they wouldnt be participating. Seems like a regular market transaction to me.

[Crypt36]

Considering people like to have a view it's the highest budget condominium in central Pattaya.

[SirPaul]

Jontiem is not Pattaya, never will be.