Are Houses Overpriced In Pattaya?

[Naam]

The problem is that many will not drop their prices, which is why so many properties are overpriced and remain unsold.

somehow i have the feeling that a number of people are not really interested in selling their homes. what else could be the reason that homes are unsold on the market for several years? i can't think of any!

[dandare11]

The problem is that many will not drop their prices, which is why so many properties are overpriced and remain unsold.

somehow i have the feeling that a number of people are not really interested in selling their homes. what else could be the reason that homes are unsold on the market for several years? i can't think of any!

I do not agree with this statement. The fact that they are priced at all is a potential for disaster,after setting up a fake do nothing shell company to achieve a property. I personally look at it as a day nearer an investigation into these so-called companies by the authorities,you probably look at it as a day longer you have escaped an investigation. Many thousands lost theirs in an identical scam some years ago

The title is "are house overpriced in Pattaya" well all you have to do is look in Pattaya Trader to find the answer, thousands for sale,month in ,month out same houses in there that were there last month, last year last decade if it was available then.

The one born every minute is now down to one born every month to be shared out between thousands of potential sellers,so no reason to believe a sale will ever be achieved,so no reason to even try and sell,just carry on as though nothing will ever happen,....which it definitely will be that (selling that is)

[smedly]

houses and condo's are over priced by as much as 100%

The problem is that falangs come here they do some house hunting around pattaya mostly with realestate companies get a rough Idea

of the going rate but don't realise that all the properties they look at are highly over inflated, this is actually a scam driven by falangs mostly

advise - look at a property and knock 50% off immediately then you might be at the correct market value, been saying this for years here

problem discussing this subject here is that half the replies will be from people who own and paid way too much and some will

have realestate interests = ripping people off

[LennyW]

I do not agree with this statement. The fact that they are priced at all is a potential for disaster,after setting up a fake do nothing shell company to achieve a property. I personally look at it as a day nearer an investigation into these so-called companies by the authorities,you probably look at it as a day longer you have escaped an investigation. Many thousands lost theirs in an identical scam some years ago

The title is "are house overpriced in Pattaya" well all you have to do is look in Pattaya Trader to find the answer, thousands for sale,month in ,month out same houses in there that were there last month, last year last decade if it was available then.

The one born every minute is now down to one born every month to be shared out between thousands of potential sellers,so no reason to believe a sale will ever be achieved,so no reason to even try and sell,just carry on as though nothing will ever happen,....which it definitely will be that (selling that is)

Completely clueless, anyone that openly admits to using the pattaya trader as any sort of reference needs their head feeling - they have pictures of my property on there from 5 years ago!! maybe the best pics they could get!!???

And the common assumption that setting up " a fake do nothing shell company to acheive property" will be found out is also boll lox, long time since the "company ownership" method has been suspect, (yet no record of anyone ever losing their house through it has ever been recorded) and many land offices now wont even entertain your paperwork no matter how fancy you think your lawyers are at setting up a "company"!!

The Thai government have tried to smooth the way for foriegners with things such as , Usufruct, Servitude, Lease, whilst not admitting that this is a way for foreigners to "own" property, it is not denied either! All about the face thing!!

There was a survey on TV last year or maybe the year before asking about ownership and how we the falangs on this forum "owned our homes" i am sure the result was something like 73% said the property was in their Thai partners name.

As i said earlier - if the ex rates were like they were a few years ago - there would be nothing but gloating on here how much "bargains" people got!!

[banglay]

houses and condo's are over priced by as much as 100%

The problem is that falangs come here they do some house hunting around pattaya mostly with realestate companies get a rough Idea

of the going rate but don't realise that all the properties they look at are highly over inflated, this is actually a scam driven by falangs mostly

advise - look at a property and knock 50% off immediately then you might be at the correct market value, been saying this for years here

problem discussing this subject here is that half the replies will be from people who own and paid way too much and some will

have realestate interests = ripping people off

May I suggest you drive 15 + km out of Pattaya and you'll notice housing development springing up everywhere aimed not at Farang but Khun Thai..these properties are selling quickly and price under 2 mil baht .they are usually on a postage sized plot 2 BR 1 Bthroom and Thai style kitchen.....I for one would rather pay the extra and have a large plot and european style/standards.....so what you are saying that all properties are 50% overpriced and it is the Farang that is the cause is totally wrong......Anyone who knows the Thai's knows that they will not pay over the odds for anything or can really afford to do so... Why are most westerners under the assumption that everything revolves round them ...Afterall this IS Thailand.

[dandare11]

I do not agree with this statement. The fact that they are priced at all is a potential for disaster,after setting up a fake do nothing shell company to achieve a property. I personally look at it as a day nearer an investigation into these so-called companies by the authorities,you probably look at it as a day longer you have escaped an investigation. Many thousands lost theirs in an identical scam some years ago

The title is "are house overpriced in Pattaya" well all you have to do is look in Pattaya Trader to find the answer, thousands for sale,month in ,month out same houses in there that were there last month, last year last decade if it was available then.

The one born every minute is now down to one born every month to be shared out between thousands of potential sellers,so no reason to believe a sale will ever be achieved,so no reason to even try and sell,just carry on as though nothing will ever happen,....which it definitely will be that (selling that is)

Completely clueless, anyone that openly admits to using the pattaya trader as any sort of reference needs their head feeling - they have pictures of my property on there from 5 years ago!! maybe the best pics they could get!!???

And the common assumption that setting up " a fake do nothing shell company to acheive property" will be found out is also boll lox, long time since the "company ownership" method has been suspect, (yet no record of anyone ever losing their house through it has ever been recorded) and many land offices now wont even entertain your paperwork no matter how fancy you think your lawyers are at setting up a "company"!!

The Thai government have tried to smooth the way for foriegners with things such as , Usufruct, Servitude, Lease, whilst not admitting that this is a way for foreigners to "own" property, it is not denied either! All about the face thing!!

There was a survey on TV last year or maybe the year before asking about ownership and how we the falangs on this forum "owned our homes" i am sure the result was something like 73% said the property was in their Thai partners name.

As i said earlier - if the ex rates were like they were a few years ago - there would be nothing but gloating on here how much "bargains" people got!!

So you have property up for sale in the Pattaya Trader for five years,I suppose you have been feeling your head for quite a while now at whatever other methods you can apply at getting shut,..no ?...oh well stick with the Pattaya Trader for another five,..might get buy one,get two free (years that is of free advertising) might extend it to decades if you ask, probably need it.

Smooth the way for farang ownership you say,as far as I see you still cannot own property,all the methods you mention are time barred,and as you say are not denied,but readily not admitted either,sorry not the way to go

[craigt3365]

The problem is that many will not drop their prices, which is why so many properties are overpriced and remain unsold.

somehow i have the feeling that a number of people are not really interested in selling their homes. what else could be the reason that homes are unsold on the market for several years? i can't think of any!

The market here is no different from many other places around the world. Buyers who want lower prices and sellers who want higher prices. My best friend in Calif is an agent. He deals with sellers all the time who just won't accept the fact their property is worth 25% or so less than they want. Maybe they have a high mortgage and can't sell it for less? Maybe they are just greedy? Stupid? Whatever...move on and find another property.

My good friends have had their property for sale for 3 years here in Pattaya. Why have they not lowered the price? Because they don't have to and they don't need to move! If it sells, great, if not they will just sit on their balcony and enjoy the sea views. Easy.

Many thousands lost theirs in an identical scam some years ago

Please provide a link for this scam. Seriously, I would love to read about it.

[LennyW]

So you have property up for sale in the Pattaya Trader for five years,I suppose you have been feeling your head for quite a while now at whatever other methods you can apply at getting shut,..no ?...oh well stick with the Pattaya Trader for another five,..might get buy one,get two free (years that is of free advertising) might extend it to decades if you ask, probably need it.

Smooth the way for farang ownership you say,as far as I see you still cannot own property,all the methods you mention are time barred,and as you say are not denied,but readily not admitted either,sorry not the way to go

You obviously misunderstood, it was a photo that i had in an advert from 5 years ago that they still seem to keep using despite being told not to, that particular property was sold within 6 weeks of going on the market, thankfully!!!

Not all the methods i mentioned are time barred, Usufruct can be for life.

[LennyW]

Whatever...move on and find another property.

Absolutely spot on Craig.

[dandare11]

So you have property up for sale in the Pattaya Trader for five years,I suppose you have been feeling your head for quite a while now at whatever other methods you can apply at getting shut,..no ?...oh well stick with the Pattaya Trader for another five,..might get buy one,get two free (years that is of free advertising) might extend it to decades if you ask, probably need it.

Smooth the way for farang ownership you say,as far as I see you still cannot own property,all the methods you mention are time barred,and as you say are not denied,but readily not admitted either,sorry not the way to go

You obviously misunderstood, it was a photo that i had in an advert from 5 years ago that they still seem to keep using despite being told not to, that particular property was sold within 6 weeks of going on the market, thankfully!!!

Not all the methods i mentioned are time barred, Usufruct can be for life.

How can this be,reading through recently past posts of yours you were more than actively trying to flog your property through these posts,so I guess the Pattaya Trader is of no use then.,guess you have been caught out by developments arising here in Thailand in the past few years

Depending on whichever land registry you are using they will not recognise such a method of ownership, (still time barred too) and as you stated the company route is being dismantled as a method of property ownership in Thailand as it has in other holiday hot spots throughout the region too.

[lovetotravel]

Many thousands lost theirs in an identical scam some years ago

Please provide a link for this scam. Seriously, I would love to read about it.

Definitely would like a link verifying this....otherwise, it's just ridiculous rumors.

I personally called on several properties listed by several local real estate agents....many were unavailable and had either been sold or taken off the market. It's in their best interest to list as many properties as possible to get you to call...then do bait and switch to another property. Simple and not unique to Thailand.

[Rimmer]

OFF topic post removed from view, Just in case you forgot the topic is

Are Houses Overpriced In Pattaya?

[dandare11]

Many thousands lost theirs in an identical scam some years ago

Please provide a link for this scam. Seriously, I would love to read about it.

Definitely would like a link verifying this....otherwise, it's just ridiculous rumors.

I personally called on several properties listed by several local real estate agents....many were unavailable and had either been sold or taken off the market. It's in their best interest to list as many properties as possible to get you to call...then do bait and switch to another property. Simple and not unique to Thailand.

Sorry cannot answer this post as the title was" overpricing" and removed, however if you want an answer to your post please post something where I can include "ridiculous rumours" Thanks

[Naam]

Sorry cannot answer this post as the title was" overpricing" and removed, however if you want an answer to your post please post something where I can include "ridiculous rumours" Thanks

i am aware of these rumours since the "asian flu" nearly 14 years ago and since then hardly six months passed without the rumour mill churning out another "now they are going after the illegal company structures and those found guilty will lose their properties and face terrible consequences such as serving 20 years hard labour in Thai uranium mines, circumcision, then deportation. descendants will be sold into slavery."

but i hear for the first time the claim that anybody actually anybody suffered any losses and that this is the cause for "overpricing" respectively "not selling". if the claim

Many thousands lost theirs in an identical scam some years ago

was true anybody who was interested in acquiring property would be aware of it and the media would rave and rant about it. even the "incidents" (Phuket a couple of years ago) ended with "settlements". reason: This Is Thailand!