Property Investors

[rocketmanbkk]

Hi All,

My mate has a condo in a block in Pattaya behind Carefoure.

He purchased it 3 years ago, 1 bed, don't know any further details.

He wants to sell it.

He paid 4 million or just over. I have said he'd be lucky to get that but he wants to sell it quick taking a loss is OK he says.

Does anyone have any ideas as to whether there are property investors who would be interested in making an offer, he's not gloing to take a stupid offer of 2 million or so but will look at something reasonable.

Before the doubters get to me, I am not the owner. Yes, he is expecting some silly offers from chancers, yes he will look at reasonable offers for a quick sale. It is vacant and unfurnished. I do not know that area but it has a pool and the usual spec like air con, kitchenette etc./ that's all I know.

Any experience?

Cheers

[prefabs]

I think he may have problems getting even near his money in that area. 4m baht condos are usually to be found over the other side, nearer Jomtien. Very busy traffic area, not really near the beach. I hope he gets a good price for it, but he may have to wait.

[Thaifan2]

>>Property Investors Are there any?<<

If its priced right it will sell ,but he will take some loss to sell quickly .First thing to do is find out what others are charging in the same block and how long they have been for sale .

[katabeachbum]

Always buyers around. Doesnt matter what he payed for it, matters what its worth today.

[Darrel]

You dont say how big it is, but if it is a small 1-bed or a studio then he could be very lucky to get even 2MB.

For 4MB these days, you can easily get 60+ sqm in a convenient location with a good sea view, or 80sqm with a nice view that isnt directly onto the sea. If you go out of town you can get 145sqm for 4MB and get change to buy a new car. I've seen a brand new 40+sqm studio, fully fitted with big TV and nice kitchen, for 1.65MB including agent's fee and within 5 minutes walk of Jomtien Complex and all shops and services.

Sounds like your friend bought at the very peak of the boom. There's been a long downhill slide since then.

Many people would describe being near Carrefour as an awful location. Personally I wouldnt live there if you paid me to.

I wish him luck anyway: he'll need it.

[rocketmanbkk]

Thanks to you all.

He has now read thee comments and opened his own account.

[Thighlander]

415,000 for a 35 sm studio in Chiang Rai--a few too many cracks in the concrete, but you see a lot of that, and it's in a great neighborhood. It's a shame so many paid cash or their would be some great deals on bank owned homes, but you just don't see many of them like you d here in the USA. I've bought a house and a condo for 18,500 USD and 22,000 USD in the last 18 months. Condo is rented for 569. Try getting ratios like that in Thailand. I love to own, but I think there are many compelling reasons to rent in Thailand.

[ESB7]

Why dosnt he contact agents in Pattaya, yes he will need to pay their 3% or 5% commission, but they will give a valuation, market it for him at a fair price and probably sell it within 6 months...........how else is he trying to market the property??? baht Sold and the Classifieds on here are full of idiots so agents are his best option.