Are Houses Overpriced In Pattaya?

[Naam]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

[thaimate]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

Those rents are very high ,there are hundreds of houses advertised at that price ,but you are very foolish if you pay the asking price ,

[PattayaParent]

Awohalitsiktoli and Pattaya Parent,

This thread is titled "Are Houses Overpriced In Pattaya?" this is the question for debate.

Some posts will give their opinion on why they feel they are NOT overpriced, and some on why they feel they ARE overpriced.

It's obvious from your above posts that you're both uninterested in debating this question and have already come to your

conclusions.

Comparing a market with another is one way to analyse the prices.

If you don't have a comparison how can you tell if they are or are not overpriced?

The Pattaya market though is unique in that it has various market influence being that foreigners are cash buyers

with their finance coming from another countries economy. This makes foreign purchases variable depending where they're from.

Then you have the Thai on Thai market and then the company purchase market.

So when you take all these variables into consideration the market prices split into 3 different categories with 3 price ranges.

My conclusion is 5 years ago we had a sellers market and prices went up, now we have a buyers market due to a reduction of buyers.

which means the buyers that are out looking can find bargains as prices have fallen.

But you can't say something is overpriced unless you have a comparison.

The only way you can determine market price is by knowing the current sale prices that buyers and sellers have agreed.

That is the "current market price" not overpriced or underpriced, it's the price a buyer is willing to pay and a seller is willing to accept.

Comparing prices from 2 widely different markets is no comparison, you may as well say 'you're a foreigner you can afford to pay the higher price because it's cheaper than in your own country'

Your theory of 'current market price' only works when properties are sold and doesn't explain the vast amount of unsold properties.

So the question is 'why are these properties unsold?'

And you know the answer to that

[tropo]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

Those rents are very high ,there are hundreds of houses advertised at that price ,but you are very foolish if you pay the asking price ,

A lot depends on the quality of the furnishings and fittings. I find you can get big Thai style places for quite cheap (rent), but they're usually just empty shells with horrible Thai kitchens - often just a small bench in a big room.

Edited April 25, 2011 by tropo

[tropo]

Comparing prices from 2 widely different markets is no comparison, you may as well say 'you're a foreigner you can afford to pay the higher price because it's cheaper than in your own country'

Your theory of 'current market price' only works when properties are sold and doesn't explain the vast amount of unsold properties.

So the question is 'why are these properties unsold?'

And you know the answer to that

You don't seem to know yet you keep beating the same drum over and over.

Some people put a place on the market to test it and are very patient. Others may be desperate to sell. You'll never find out until you put in an offer.

You'd have to be a pretty dumb seller to start with very low prices as most buyers put pressure on for a deal and never pay the marked price. You certainly will never get a true indication of pricing by sitting around here complaining about the marked prices on properties.

[PattayaParent]

Comparing prices from 2 widely different markets is no comparison, you may as well say 'you're a foreigner you can afford to pay the higher price because it's cheaper than in your own country'

Your theory of 'current market price' only works when properties are sold and doesn't explain the vast amount of unsold properties.

So the question is 'why are these properties unsold?'

And you know the answer to that

You don't seem to know yet you keep beating the same drum over and over.

Some people put a place on the market to test it and are very patient. Others may be desperate to sell. You'll never find out until you put in an offer.

You'd have to be a pretty dumb seller to start with very low prices as most buyers put pressure on for a deal and never pay the marked price. You certainly will never get a true indication of pricing by sitting around here complaining about the marked prices on properties.

If you think that properties are not overpriced then why would you haggle with the seller?

You should be very happy to pay the asking price.

But by your above post you are saying that you would not pay the asking price.

So you must recognise that they are overpriced.

[lovetotravel]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

My neighbor just rented out his house for 45k/month. Mostly furnished, pool villa, 3BR/3BR/maid rood. 5 year deal. I think it is about 200 sqm or so and has a really nice kitchen and huge outside thai kitchen/eating area.

My other friend is just about ready to sell her oceanfront condo for around 11M Baht or so, started out at 10.5 and going up. Only been on the market a few months. Deals are being done if the property is a good value.

Edited April 25, 2011 by lovetotravel

[sotsira]

Awohalitsiktoli and Pattaya Parent,

This thread is titled "Are Houses Overpriced In Pattaya?" this is the question for debate.

Some posts will give their opinion on why they feel they are NOT overpriced, and some on why they feel they ARE overpriced.

It's obvious from your above posts that you're both uninterested in debating this question and have already come to your

conclusions.

Comparing a market with another is one way to analyse the prices.

If you don't have a comparison how can you tell if they are or are not overpriced?

The Pattaya market though is unique in that it has various market influence being that foreigners are cash buyers

with their finance coming from another countries economy. This makes foreign purchases variable depending where they're from.

Then you have the Thai on Thai market and then the company purchase market.

So when you take all these variables into consideration the market prices split into 3 different categories with 3 price ranges.

My conclusion is 5 years ago we had a sellers market and prices went up, now we have a buyers market due to a reduction of buyers.

which means the buyers that are out looking can find bargains as prices have fallen.

But you can't say something is overpriced unless you have a comparison.

The only way you can determine market price is by knowing the current sale prices that buyers and sellers have agreed.

That is the "current market price" not overpriced or underpriced, it's the price a buyer is willing to pay and a seller is willing to accept.

Comparing prices from 2 widely different markets is no comparison, you may as well say 'you're a foreigner you can afford to pay the higher price because it's cheaper than in your own country'

Your theory of 'current market price' only works when properties are sold and doesn't explain the vast amount of unsold properties.

So the question is 'why are these properties unsold?'

And you know the answer to that

The most accurate way to make a comparison is not just from your home country market (although many foreigners do use this method)

but to compare similar properties in the area that your buying with the property that you wish to purchase.

Yes i do know the answer on your last point in why properties are unsold, simple, there are not enough buyers out there to fulfil the amount of properties on the market

which is why the current market is a "Buyers Market" as i mentioned in my previous post. This means that any buyers that are out there can find

a bargain if they have the skill to negotiate.

Even when the market is slow due to the lack of buyers, properties are still being sold on a daily basis (so a "market price" can be determined)

if the data was recorded and analysed that's how the "House price index" exists in the western world.

If you want to see for yourself in how many transactions are taking place then go to the local land registry office and see with your own eyes how many people are there

everyday buying and selling their properties.

[tropo]

If you think that properties are not overpriced then why would you haggle with the seller?

You should be very happy to pay the asking price.

But by your above post you are saying that you would not pay the asking price.

So you must recognise that they are overpriced.

Which planet are you from? In the real world every buyer will haggle. Sellers normally build a margin into their selling price to allow for it.

[PattayaParent]

If you think that properties are not overpriced then why would you haggle with the seller?

You should be very happy to pay the asking price.

But by your above post you are saying that you would not pay the asking price.

So you must recognise that they are overpriced.

Which planet are you from? In the real world every buyer will haggle. Sellers normally build a margin into their selling price to allow for it.

So AGAIN you're saying you recognise that properties are overpriced!!

[PattayaParent]

Awohalitsiktoli and Pattaya Parent,

This thread is titled "Are Houses Overpriced In Pattaya?" this is the question for debate.

Some posts will give their opinion on why they feel they are NOT overpriced, and some on why they feel they ARE overpriced.

It's obvious from your above posts that you're both uninterested in debating this question and have already come to your

conclusions.

Comparing a market with another is one way to analyse the prices.

If you don't have a comparison how can you tell if they are or are not overpriced?

The Pattaya market though is unique in that it has various market influence being that foreigners are cash buyers

with their finance coming from another countries economy. This makes foreign purchases variable depending where they're from.

Then you have the Thai on Thai market and then the company purchase market.

So when you take all these variables into consideration the market prices split into 3 different categories with 3 price ranges.

My conclusion is 5 years ago we had a sellers market and prices went up, now we have a buyers market due to a reduction of buyers.

which means the buyers that are out looking can find bargains as prices have fallen.

But you can't say something is overpriced unless you have a comparison.

The only way you can determine market price is by knowing the current sale prices that buyers and sellers have agreed.

That is the "current market price" not overpriced or underpriced, it's the price a buyer is willing to pay and a seller is willing to accept.

Comparing prices from 2 widely different markets is no comparison, you may as well say 'you're a foreigner you can afford to pay the higher price because it's cheaper than in your own country'

Your theory of 'current market price' only works when properties are sold and doesn't explain the vast amount of unsold properties.

So the question is 'why are these properties unsold?'

And you know the answer to that

The most accurate way to make a comparison is not just from your home country market (although many foreigners do use this method)

but to compare similar properties in the area that your buying with the property that you wish to purchase.

Yes i do know the answer on your last point in why properties are unsold, simple, there are not enough buyers out there to fulfil the amount of properties on the market

which is why the current market is a "Buyers Market" as i mentioned in my previous post. This means that any buyers that are out there can find

a bargain if they have the skill to negotiate.

Even when the market is slow due to the lack of buyers, properties are still being sold on a daily basis (so a "market price" can be determined)

if the data was recorded and analysed that's how the "House price index" exists in the western world.

If you want to see for yourself in how many transactions are taking place then go to the local land registry office and see with your own eyes how many people are there everyday buying and selling their properties.

Yes but at what price???

The overpriced original selling value or the realistic reduced value??

[Schooner]

It's such a personal thing. I looked a dozens of places in my price range of 4 million baht that just didn't do it for me. I've driven around and checked out some of the new developments and have yet to find anything that I like better. If I had the time to look at everything that was available currently I doubt that there a more than a few that would meet my requirements. So, here I am a buyer with cash to buy and I can't find anything that I want to plunk cash down for. For me my choices are limited and all those places that don't meet my requirements might as well not be there. All of my neighbos agree that it took a long time to find what they wanted.

Edited April 25, 2011 by Schooner

[Naam]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

Those rents are very high ,there are hundreds of houses advertised at that price ,but you are very foolish if you pay the asking price ,

and these hundreds of houses are all in excellent shape, new construction, pool, each room airconditioned, first time occupation, classy furniture, top electronic gadgets, have modern european kitchens with all hardware, located in quiet areas, phone and internet pre-wired waiting to be connected, etc., etc.

now tell me again who is foolish and/or makes foolish generalising statements

by the way, when i say 150m² then i mean 150m² net living area which translates to 300m² total area thai real estate agents and developers use because they include all nonsensical and irrelevant areas (in one case the carport, the drive way and a garden shed)

[rocketmanbkk]

I think that any house/condo etc. has a price.

If an owner really wants to sell and his property is say worth 5 million bt but all the other like properties he is competing with are also marketed at 5 mllion bt then it will come down to who wants to sell most and reduce the price accordingly.

I have always said that every property has a price to sell whether it be at the valauation price or cheaper to attract a buyer.

I do think that Pattaya has some lovely places up for sale but I also think that some places have crazy prices!

To sell a property in a bear market the price needs to beat your competitors.

IMHO that is.

[janverbeem]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

My neighbor just rented out his house for 45k/month. Mostly furnished, pool villa, 3BR/3BR/maid rood. 5 year deal. I think it is about 200 sqm or so and has a really nice kitchen and huge outside thai kitchen/eating area.

My other friend is just about ready to sell her oceanfront condo for around 11M Baht or so, started out at 10.5 and going up. Only been on the market a few months. Deals are being done if the property is a good value.

So your friend puts a condo on the market and after rises the price because probably there are too much interested buyers?

If that isn't a luxury.

[thaimate]

My point is: for 15k-17k, you can rent a 2BR house in the same area (i.e. 1 km around), 130 sqm house with a nice communal pool! If you go a bit further (2-3 km), you get a 150 sqm, 3 BR house for 15k.

details please. two german friends of mine who spent a couple of weeks several times a year in Pattaya are looking for detached fully furnished houses where they can put up their mia nois and could not find anything for less than 45k Baht. another friend has recently rented 12-15km away off but near Sukhumvit (towards Bang Sare) a 150m² house and pays 55k Baht.

Those rents are very high ,there are hundreds of houses advertised at that price ,but you are very foolish if you pay the asking price ,

and these hundreds of houses are all in excellent shape, new construction, pool, each room airconditioned, first time occupation, classy furniture, top electronic gadgets, have modern european kitchens with all hardware, located in quiet areas, phone and internet pre-wired waiting to be connected, etc., etc.

now tell me again who is foolish and/or makes foolish generalising statements

by the way, when i say 150m² then i mean 150m² net living area which translates to 300m² total area thai real estate agents and developers use because they include all nonsensical and irrelevant areas (in one case the carport, the drive way and a garden shed)

To give you some idea ,we rent a lovely 3 bed 3 bath house on a modern estate ,fully detached ,air con in every room ,fully furnished to a high standard modern european kitchen

lovely gardens and parking for 2 cars side by side with lots of room , the maintenance is paid by my landlady and any repairs we carry out and deduct from the rent ,5 years ago it was advertized at 40k ,we paid 30k a month which has now been reduced to 25k ,i have seen si many houses just like ours advertised at 40/45k ,if you pay that you have to much money to waste

[sotsira]

It's such a personal thing. I looked a dozens of places in my price range of 4 million baht that just didn't do it for me. I've driven around and checked out some of the new developments and have yet to find anything that I like better. If I had the time to look at everything that was available currently I doubt that there a more than a few that would meet my requirements. So, here I am a buyer with cash to buy and I can't find anything that I want to plunk cash down for. For me my choices are limited and all those places that don't meet my requirements might as well not be there. All of my neighbos agree that it took a long time to find what they wanted.

If you can't find exactly what your looking for then maybe you need to look from the prospective of

first location, then size and then modification to meet your standards.

As an example,some people buy a cheap run down property just because it's in the right location

then knock it down and build what they want, or add an extension to a property when the land area is large

but the property is too small, there's many ways too achieve your goal, or even look at buying a plot of land and then

build what you want.

[sotsira]

The most accurate way to make a comparison is not just from your home country market (although many foreigners do use this method)

but to compare similar properties in the area that your buying with the property that you wish to purchase.

Yes i do know the answer on your last point in why properties are unsold, simple, there are not enough buyers out there to fulfil the amount of properties on the market

which is why the current market is a "Buyers Market" as i mentioned in my previous post. This means that any buyers that are out there can find

a bargain if they have the skill to negotiate.

Even when the market is slow due to the lack of buyers, properties are still being sold on a daily basis (so a "market price" can be determined)

if the data was recorded and analysed that's how the "House price index" exists in the western world.

If you want to see for yourself in how many transactions are taking place then go to the local land registry office and see with your own eyes how many people are there everyday buying and selling their properties.

Yes but at what price???

The overpriced original selling value or the realistic reduced value??

There's no such thing as overpriced original selling value??

It always has been and always will be the price that the buyer is willing to offer and the seller is willing to accept,

Obviously the party with the better negotiation skills will win the day.

It's not rocket science now is it Pattaya Parent

[tropo]

If you think that properties are not overpriced then why would you haggle with the seller?

You should be very happy to pay the asking price.

But by your above post you are saying that you would not pay the asking price.

So you must recognise that they are overpriced.

Which planet are you from? In the real world every buyer will haggle. Sellers normally build a margin into their selling price to allow for it.

So AGAIN you're saying you recognise that properties are overpriced!!

Stop putting words in my mouth and read the bolded quote again real slowly so you can understand. The price of a property is what is paid for it in an actual purchase, not what it was on paper before negotiations took place.

Now I understand why you don't get it. You read the real estate magazines and freak out at the marked prices without allowing for negotiation.

Here's another lesson for you - negotiate, negotiate, negotiate.... it will save you money.

[PattayaParent]

Awohalitsiktoli and Pattaya Parent,

This thread is titled "Are Houses Overpriced In Pattaya?" this is the question for debate.

Some posts will give their opinion on why they feel they are NOT overpriced, and some on why they feel they ARE overpriced.

It's obvious from your above posts that you're both uninterested in debating this question and have already come to your

conclusions.

Comparing a market with another is one way to analyse the prices.

If you don't have a comparison how can you tell if they are or are not overpriced?

The Pattaya market though is unique in that it has various market influence being that foreigners are cash buyers

with their finance coming from another countries economy. This makes foreign purchases variable depending where they're from.

Then you have the Thai on Thai market and then the company purchase market.

So when you take all these variables into consideration the market prices split into 3 different categories with 3 price ranges.

My conclusion is 5 years ago we had a sellers market and prices went up, now we have a buyers market due to a reduction of buyers.

which means the buyers that are out looking can find bargains as prices have fallen.

But you can't say something is overpriced unless you have a comparison.

The only way you can determine market price is by knowing the current sale prices that buyers and sellers have agreed.

That is the "current market price" not overpriced or underpriced, it's the price a buyer is willing to pay and a seller is willing to accept.

Comparing prices from 2 widely different markets is no comparison, you may as well say 'you're a foreigner you can afford to pay the higher price because it's cheaper than in your own country'

Your theory of 'current market price' only works when properties are sold and doesn't explain the vast amount of unsold properties.

So the question is 'why are these properties unsold?'

And you know the answer to that

The most accurate way to make a comparison is not just from your home country market (although many foreigners do use this method)

but to compare similar properties in the area that your buying with the property that you wish to purchase.

Yes i do know the answer on your last point in why properties are unsold, simple, there are not enough buyers out there to fulfil the amount of properties on the market

which is why the current market is a "Buyers Market" as i mentioned in my previous post. This means that any buyers that are out there can find

a bargain if they have the skill to negotiate.

Even when the market is slow due to the lack of buyers, properties are still being sold on a daily basis (so a "market price" can be determined)

if the data was recorded and analysed that's how the "House price index" exists in the western world.

If you want to see for yourself in how many transactions are taking place then go to the local land registry office and see with your own eyes how many people are there

everyday buying and selling their properties.

I didn't have a chance to answer your post properly before as work got in the way so:-

you agree that comparisons with your home country are irrelevant. They're even irrelevant in your home country, for example try making a comparison between a 3 bedroom semi in Oldham and the same in London and figuring out which, if any, is overpriced. Doesn't work does it, so why would it work comparing that same house in Oldham with one in Pattaya? Or one in Paris or Aberdeen?

And you just get the result that it's cheaper here so it can't be overpriced. But you could say the same about paying 100 Baht for a 10 Baht songthaew ride.

So it's a buyers market, which means that those properties that are priced reasonably will find buyers and be sold, those that are OVERPRICED will not get sold, you're only focussing on thinking about sold properties, but what about the previous example given on a 20 mill place reduced to 6.5 mill and considered to not be worth even 5 mill. Can you seriously expect everyone to think it wasn't overpriced at the original selling price?

Thinks about the unsold stock that's overpriced, not the sold places that have been reasonably priced.

[Jingthing]

I don't think you just described a buyer's market. More like a balanced market.

[PattayaParent]

The most accurate way to make a comparison is not just from your home country market (although many foreigners do use this method)

but to compare similar properties in the area that your buying with the property that you wish to purchase.

Yes i do know the answer on your last point in why properties are unsold, simple, there are not enough buyers out there to fulfil the amount of properties on the market

which is why the current market is a "Buyers Market" as i mentioned in my previous post. This means that any buyers that are out there can find

a bargain if they have the skill to negotiate.

Even when the market is slow due to the lack of buyers, properties are still being sold on a daily basis (so a "market price" can be determined)

if the data was recorded and analysed that's how the "House price index" exists in the western world.

If you want to see for yourself in how many transactions are taking place then go to the local land registry office and see with your own eyes how many people are there everyday buying and selling their properties.

Yes but at what price???

The overpriced original selling value or the realistic reduced value??

There's no such thing as overpriced original selling value??

It always has been and always will be the price that the buyer is willing to offer and the seller is willing to accept,

Obviously the party with the better negotiation skills will win the day.

It's not rocket science now is it Pattaya Parent

So what would you call the price the seller originally valued his property at? The reasonable price? Obviously not if he's come down in price.

[PattayaParent]

I don't think you just described a buyer's market. More like a balanced market.

It wan't my description JT, just using sotsiras.

[manarak]

...but in reality, you're comparing apples with oranges. People who like houses are not usually interested in condos and visa versa.

aaaaah. now we reach the core of the problem.

you make a comparison based on marketing and customer segmentation , i.e. "condo renters are more gullible or risk adverse than house dwellers", so a higher price can be asked from them.

I prefer to look at substance.

But ok, let's compare Pratamnak houses with Pratamnak condos:

House:

Majestic Residence, 2 BR, 125m2 (plot: 200m2), situated on beach front, private pool, clubhouse, communal pool, security, etc. 6 month rental price: 35k baht

Equivalent Condo:

cheapest I could find for a 120m2 2BR condo in Pratamnak: 40k.

Now, if as you say, the ground is too expensive to build houses, but the house sits on 200m2 and has a private pool.

Don't you think that the pricing of 20+ 2BR condos sitting on 200m2 is wrong at 40k baht if a house of the same size can be rent for less?

What you say does not compute and I can prove it in every instance.

[sotsira]

So what would you call the price the seller originally valued his property at? The reasonable price? Obviously not if he's come down in price.

That is the sale price on offer for the property.

and some sellers put this price low to start with for a quick sale and state that 'No Offers" is applicable

and other sellers put this price higher to include a margin for an offer to be negotiated.

But nothing is set in stone until a sale is achieved and then that price becomes the "actual sale price"

which is what actually matters when considering the current property market.

Another consideration that is relevant in comparison with the western world is that here in Pattaya the estate agents

mostly are incompetent and don't offer a realistic valuation on a property before they market it for sale.

For some reason they just ask the seller how much they want to sell it for? and just market it at that price. Now without this

regulation any owner will put an asking price on what they think their property is worth without any question of expertise

from the agent. This contributes to a lot of the confusion in the Pattaya market too, and why we're debating it in this thread.

Where as in the western world estate agents will offer the seller a valuation on the current market conditions and this

helps both the seller and buyer on negotiating a sale with the correct sale price as a basis to negotiate from.

[tropo]

House:

Majestic Residence, 2 BR, 125m2 (plot: 200m2), situated on beach front, private pool, clubhouse, communal pool, security, etc. 6 month rental price: 35k baht

I missed out on that one. That was a very good deal. Is it furnished? Furnished houses with pools in Pratumnak Hill area are rare, especially at that price.

Edited April 25, 2011 by tropo

[Rimmer]

Inflammatory post and quoted reply removed from view, careful guys, I know feeling are running high but lets not derail this interesting thread.

[PattayaParent]

So what would you call the price the seller originally valued his property at? The reasonable price? Obviously not if he's come down in price.

That is the sale price on offer for the property.

and some sellers put this price low to start with for a quick sale and state that 'No Offers" is applicable

and other sellers put this price higher to include a margin for an offer to be negotiated.

But nothing is set in stone until a sale is achieved and then that price becomes the "actual sale price"

which is what actually matters when considering the current property market.

Another consideration that is relevant in comparison with the western world is that here in Pattaya the estate agents

mostly are incompetent and don't offer a realistic valuation on a property before they market it for sale.

For some reason they just ask the seller how much they want to sell it for? and just market it at that price. Now without this

regulation any owner will put an asking price on what they think their property is worth without any question of expertise

from the agent. This contributes to a lot of the confusion in the Pattaya market too, and why we're debating it in this thread.

Where as in the western world estate agents will offer the seller a valuation on the current market conditions and this

helps both the seller and buyer on negotiating a sale with the correct sale price as a basis to negotiate from.

and you don't think that sellers that "will put an asking price on what they think their property is worth" would ever overprice the property???

I notice you keep ignoring my question about whether the property that went from 20 million to 6.5 million and is considered by some to be worth less than 5 was overpriced?

I presume from your answers and that of the guy that has 'gone tropo' as the Aussies say, that you think it's not?

[Rimmer]

Further argumentative post removed from view, suggest if you don't want a holiday stop it.

[sotsira]

and you don't think that sellers that "will put an asking price on what they think their property is worth" would ever overprice the property???

I notice you keep ignoring my question about whether the property that went from 20 million to 6.5 million and is considered by some to be worth less than 5 was overpriced?

I presume from your answers and that of the guy that has 'gone tropo' as the Aussies say, that you think it's not?

The reason i ignore the example of a 20m property being reduced to 6.5m and some feel it's only worth 5m,

is because it;s a one off post made by someone to show an example, whether it's true or not who knows?

Where are the links to show any evidence of this?

I could easily say i had a house for sale at 5m and ended up selling it for 10m cos 3 buyers wanted it so much that

they bid against each other and pushed the price up to 10m. Now are you going to believe me or not?

Also you need to look at the whole picture of whats going on not just one poster with one house as an example.

Starting with looking at whats being sold and for how much. That would put you on the right track.