Abandoned Condos...

[hourlay]

I'm looking to invest in condos on Pattaya and wonder to know how frequent a condo project can be really abandoned.

Please, no need of speaking about small trouble like delay of less than 3 years and just focus on real information (no need to joke about people suffering already from a loss in their investment).

If some people have info or experience or really Condos which reveals to be stop or without any builder anymore.

I'm also wonder what news about Suan Sawarn condo.

[SparklingCascades]

I am told that investing in condo's off-plan in Thailand (and Pattaya) has mixed success. Much depends on track record of developer and buyer skill negotiating a 'tight' agreement. Negotiating power increases if buyer is buying bulk eg. Japanese who bought 40% of studio's in an upcoming development.

Of course there are times when projects can get stuck on ice or rouble like in Siberia.

Edited March 28, 2013 by SparklingCascades

[givenall]

I had 2 condos in bkk which went bankrupt, and some else took over and completed the work and I did not lose any money on the project. most likely other will take over the project but the completion may be delayed

[technologybytes]

When you pay money up front you are taking multiple risks, though the risk that you will lose all your money and get nothing is perhaps rather slim in the long term.

I see lots of condo buildings, and villages that have been abandoned for many years, I'm assuming that at least some people paid at least deposits on those projects before they failed.

It's all about balancing risk with potential gain.. if you buy off plan you ALWAYS take an increased risk, and you ALMOST always get a better price in return for taking that risk.... it's just like any other investment in the world really...

[davejones]

Big companies generally have less risk, but that means you stand to make less money. If the market were to collapse, then there would be LOTS of abandoned buildings. There are still abandoned buildings from the 1997 collapse in Bangkok. You might have seen one near Saphan Taksin BTS.

[Rancid]

In a rising market off the plan works well, if the rising is no more then suck eggs. In other words how good are you at picking the market? Is this the smart phase of the bubble or the sucker phase, you decide.