Why Are Condo's More Expensive Than Houses?

[thenervoussurgeon]

just a thought ,does anyone know the answer ,i was looking at them for our son when he leaves uni ,but they are just so bloomin dear ,why?

[Almera]

Buy him a house then.

Why do you want a condo for him?

And there in lies your answer.

Edited April 6, 2013 by Almera

[WinnieTheKhwai]

I'd say out of all places in Thailand, this high valuation of condominiums is much less apparent in Pattaya (and Bangkok). Square meter for square meter probably yes, but overall houses are fairly costly in the Pattaya area, relative to other parts of Thailand.

If you look at places like Chiang Mai then you got to wonder why anyone bothers with a condominium as houses (in sensible areas) are even cheaper there.

That condominiums are relatively over-valued is perhaps because foreigners can actually own them, which skews demand towards condominiums in a place like Pattaya.

Edited April 6, 2013 by WinnieTheKhwai

[guzzi850m2]

I was also surprised app. 6-7 years ago when I was out looking for something to buy, condos very expensive if you want something descent (+100 M2 in my view) but houses more affordable but further away from City center.

Many condo's are very near to the beach or city center where land prices off-course are higher than further out. Some says that the market will collapse because of inflated prices but I doubt it but are no expert so please don't take my word for it.

Land prices in Pattaya have gone mad the last 4-5 years and keeps going up as BKK Thais are buying both houses and condo's in great numbers since the big flooding in BKK 2011.

I ended up buying a house and now that I got a lovely son, I never regretted that.

[WinnieTheKhwai]

Other condo advantages:

* They tend to be in areas from where it's easy to get public transport to downtown and back. For people who like to go out at night and drink a few (or more than a few) that's great because they don't kill themselves (or others) driving home. (Yes in theory you could charter a bus all the way to the darkest spot in Darkville.)

* Security is better in theory. This is not just in relation to break ins, but also when you inevitably get into a relationship, of any type or duration, and the girl -also inevitably- goes psycho-stalker on you, then being 10 floors up and letting the security dudes work for their money is a much better experience than having an insane scene at your garden gate.

* Many have a nice view and catch some breeze.

* It's a long walk up for snakes and spiders. Most don't bother.

* Checking out permanently from planet Earth is a lot more convenient. (Someone's going to refer to this sooner or later so might as well get it in here now. )

Edited April 6, 2013 by WinnieTheKhwai

[Potosi]

Condos are more expensive because of the 49% quota. And the prices are calculated to turn a profit for the developer when a mere 30% of all condos in a project are sold. Thais don't usually buy at those prices, but build a home for less money. All in all, a planned rip-off of foreign investors.

[jbrain]

That condominiums are relatively over-valued is perhaps because foreigners can actually own them, which skews demand towards condominiums in a place like Pattaya.

That is about the major reason Winnie.

Other is that most of the Condo's are built by foreign companies who want to drive a Ferrari after they sold the first floor, and calculate that the majority of the 51% that has to be Thai owned will never be sold.

Condo's are also build in prime locations, and land prices have gonne through the roof since there is only 1 first line at the beach.

If you take a look at condo projects like say East Pattaya the prices are a third of the ones at Jomtien beach, and nevertheless they can't get them sold.

Look at The koral and a few other projects east of Sukhumvith that went broke before the first brick was laid.

For the price of a 60 m² condo in Jomtien I built a 350 m² house with pool and and seperate maids quarters to a high standard on a 1600 m² piece of land 12 km outside of the Pattaya madness, but yet within 1 km from the Highway 7 so easy access to anywhere.

Oh, and I also don't have to pay 2500 baht a month to a condo fund which disappears in the pockets of the project owners

[Fgis]

Because who wants to buy a house that he cannot own as well as live with low so noisy motosai neighboors ?

Also, leaving near the beach without having sea view or even anyview (90% of the houses) is really useless or even stupid in my opinion.

Condo market won't go down for sure, at least for the 1-2 millions places that could never cost less and get value every year.

Not sure though about the 10+ millions places that already are overpriced in 2013.

Last reason, people who buy a house must know that it is almost impossible to re-sell it, so be sure to enjoy living there until you die.

Just look at thousand houses on sale around Pattaya...

Edited April 6, 2013 by Fgis

[jbrain]

Because who wants to buy a house that he cannot own as well as live with low so noisy motosai neighboors ?

Also, leaving near the beach without having sea view or even anyview (90% of the houses) is really useless or even stupid in my opinion.

Condo market won't go down for sure, at least for the 1-2 millions places that could never cost less and get value every year.

Not sure though about the 10+ millions places that already are overpriced in 2013.

Last reason, people who buy a house must know that it is almost impossible to re-sell it, so be sure to enjoy living there until you die.

Just look at thousand houses on sale around Pattaya...

Strange, because in November 2012 I sold my house in a village in Khao Talo, which I bought merely 10 years ago, with a profit in Thai Baht of 40% .

Took me about a month to sell it, with only adverts at foodland and friendship.

But then I read here only a few days ago about at least 2 TV members who had a hard time to sell their condo at a loss. At the end they made a profit because the change in exchange rate Baht/ Pound worked in their advantage, but they sold their condo for less Baht as they had paid, while I sold my house for 40% more Baht than I had paid.

Then after all regarding your comment on the view which one you prefer ?

OR

Edited April 6, 2013 by jbrain

[Fgis]

You are certainly right, even it is not allowed by the law to own a house for foreigners and even when billions are invested around Pattaya to build new condo.

:-)

[Naam]

You are certainly right, even it is not allowed by the law to own a house for foreigners and even when billions are invested around Pattaya to build new condo.

:-)

foreigners can own a house. what they can't own is the land. and as far as noisy neighbours are concerned here's the beef. during the construction of our home we lived in a penthouse with seaview (Jomtien 20th floor). noise pollution 24 hours 7 days a week, seaview hampered by closed sun shades and curtains because sun from 10.00 in the mornings till sunset on 100+m² of glass.

now we live on a cul-de-sac in a gated community, home on 1 rai, no noisy neighbours, no traffic, no pollution but of course no view. we don't miss the seaview which becomes quite boring after some time. what we really do miss is the view which we enjoyed for nearly 15 years in our former home (Florida). we also miss the huge variety of wildlife.

[anon8]

Then after all regarding your comment on the view which one you prefer ?

Thank you for posting this photo with a view from the yard! Comparing this to the picture of the beach view that you also posted, this is proof that view form the back yard is superior than view from condo

Can I ask where is this house in Pattaya?

[Beardog]

Because who wants to buy a house that he cannot own as well as live with low so noisy motosai neighboors ?

Also, leaving near the beach without having sea view or even anyview (90% of the houses) is really useless or even stupid in my opinion.

Condo market won't go down for sure, at least for the 1-2 millions places that could never cost less and get value every year.

Not sure though about the 10+ millions places that already are overpriced in 2013.

Last reason, people who buy a house must know that it is almost impossible to re-sell it, so be sure to enjoy living there until you die.

Just look at thousand houses on sale around Pattaya...

Nonsense you can live right outside Pattaya Ban Ampur- Bang saray & resell your house for 200-300% I am on our 3rd house & looking to build 2 more. Condo's are not at all worth the cost when you can have a private residence with no maintainaince monthly fees. No neighbors to speak of. You just need to hook up with the right girl or put it in a company name. 4-5 million baht houses are going off the hook in Bang Saray Especially compared to the time it takes to sell a cracker box.

We just finished our new house 2 months ago & have had 2 offers & the house isn't even up for sale yet. Land prices have gone up 500% since 2006 here. Like JBrain says I can also build a beautiful 130-176 meter house for less than a condo of 60-80 sq. meters. And the grounds are taken care of great. We pay ourselves the ridiculous dividend monthly that would be wasted on tea money for the business admin.

And the real bonus is I don't have to deal with rude neighbors that are always starting <deleted>!

[Fgis]

The real bonus is when robbers high on yaba will wake up you at night...

Sorry, I won't change mind, and this is why this world is great, people have different ideas about their own safety :-)

[guzzi850m2]

I agree with the house owners, heaps of space for the money compared to a shoebox condo. We also grow mango, papaya, chili, cucumbers and more in the garden.

I got a family so a house is the only choice for us, safe small sois in the village where my boy can play safely without getting run over by speeding bikes/cars.

Sea view: well it looks impressive at first but as one mention, it's getting a bit boring after a while and here in the Pattaya/Jomtien area you will have the sun right in your sea view all afternoon (better get some real good sun glasses).

On several occasions a room in a condo have started to burn in the middle of the night and they evacuated the whole building, not so nice. (faulty electrics or a drunk smoker, pick your choice)

If I was living alone I would live in a condo but thankfully I got my family.

Pros and cons for either choice.

[BlackPuddingBertha]

For the price of a 60 m² condo in Jomtien I built a 350 m² house with pool and and seperate maids quarters to a high standard on a 1600 m² piece of land 12 km outside of the Pattaya madness, but yet within 1 km from the Highway 7 so easy access to anywhere.

A bargain indeed. And for the same price you included:

..... a quite sofisticated security system whereby as soon as one pulls hinself up on the wall, he doesn't have to get on the wall for that, the alarm system goes off and it is LOUD and the whole plot is lighted as if it's in the middle of the day. From the moment his face comes above the wall every second a picture of him is taken and sent straight to my email, and this as long as he is visible anywhere in the compound.

And in spite of all that you seem to spend much of your time worrying about what to do when some drug-crazed loon breaks in: http://www.thaivisa.com/forum/topic/631011-who-to-call/

Mere condo dwellers like me only need one 300B lock on the door, and can sleep deeply with the window open without worrying about who is climbing over their electrified fences and drugging their guard dogs.

Oh, and I also don't have to pay 2500 baht a month to a condo fund which disappears in the pockets of the project owners

You dont seem to know much about condo costs either. Try under 20,000B per year per unit for all building, maintenance and security costs, none of which goes to the developer.

[BlackPuddingBertha]

Sea view: well it looks impressive at first but as one mention, it's getting a bit boring after a while and here in the Pattaya/Jomtien area you will have the sun right in your sea view all afternoon (better get some real good sun glasses).

Maybe your view wasnt very interesting, but I never have and never will get bored with my 180 degree panoramic view of Jomtien beach down to Bang Saray and Sattahip, and right round to East Pattaya and beyond.

The sun is on my balcony much of the day if I want it (I dont), but never comes into my unit.

It pays to get the right unit in the right building. I've not seen any houses in this area with anything that I would call a proper view, but having lived all my life in houses with panoramic views I dont intend to stop now.

[BlackPuddingBertha]

... during the construction of our home we lived in a penthouse with seaview (Jomtien 20th floor). noise pollution 24 hours 7 days a week, seaview hampered by closed sun shades and curtains because sun from 10.00 in the mornings till sunset on 100+m² of glass.

You made a very poor choice of building/unit. Maybe you should have done a bit more research.

[Potosi]

You can't escape the noise in Thailand anywhere. In a condo, you get screaming brats, arguing neighbours, parties on the balcony next to yours at 4 in the morning, construction noise the day over, traffic, TVs and music players at max volume. Out of the city, you learn that the ruckus of nature rivals civilization's, chicken, dogs, wild birds, crickets, frogs.

Maintenance costs of a home are way higher in the long run, after just a couple of years, something breaks every month. Homes are as poorly constructed as condominiums.

View isn't an argument for me because this kind doesn't exist in Thailand, and sea, flats, hill, or city views are equally unimpressing.

Burglaries of condos are more common than of homes, and the highest risk factor is Thai security.

I have a home because I have a double bed to myself, 8 hours of uninterrupted sleep each night. After a couple of years with the same woman, you want to share the bed for sex only. She has her own bedroom with shrine, and ghost appeasement equipment, and the pics every Thai must have, the stuff I don't want around me. The garden, fishpool, and the dogs keep me busy for hours every day. Probably better than to visit bars every day for a distraction.

[jbrain]

Then after all regarding your comment on the view which one you prefer ?

Thank you for posting this photo with a view from the yard! Comparing this to the picture of the beach view that you also posted, this is proof that view form the back yard is superior than view from condo

Can I ask where is this house in Pattaya?

I guess this house isn't located in Pattaya, however it could be as it is just a view from an ordinary pool

[willyumcr]

That condominiums are relatively over-valued is perhaps because foreigners can actually own them, which skews demand towards condominiums in a place like Pattaya.

That is about the major reason Winnie.

Other is that most of the Condo's are built by foreign companies who want to drive a Ferrari after they sold the first floor, and calculate that the majority of the 51% that has to be Thai owned will never be sold.

Condo's are also build in prime locations, and land prices have gonne through the roof since there is only 1 first line at the beach.

If you take a look at condo projects like say East Pattaya the prices are a third of the ones at Jomtien beach, and nevertheless they can't get them sold.

Look at The koral and a few other projects east of Sukhumvith that went broke before the first brick was laid.

For the price of a 60 m² condo in Jomtien I built a 350 m² house with pool and and seperate maids quarters to a high standard on a 1600 m² piece of land 12 km outside of the Pattaya madness, but yet within 1 km from the Highway 7 so easy access to anywhere.

Oh, and I also don't have to pay 2500 baht a month to a condo fund which disappears in the pockets of the project owners

I also read of another post you made about you have no security in case of break in and can not call police. Maybe you could use some of your maid quarters for a security guard? Also a house is more for a family situation. A lot of single guys (and prefer it to stay that way) here that don't need all that extra room and not have to worry when they leave condo as they would if they had a house.

[Fgis]

You can't escape the noise in Thailand anywhere. In a condo, you get screaming brats, arguing neighbours, parties on the balcony next to yours at 4 in the morning, construction noise the day over, traffic, TVs and music players at max volume. Out of the city, you learn that the ruckus of nature rivals civilization's, chicken, dogs, wild birds, crickets, frogs.

Maintenance costs of a home are way higher in the long run, after just a couple of years, something breaks every month. Homes are as poorly constructed as condominiums.

View isn't an argument for me because this kind doesn't exist in Thailand, and sea, flats, hill, or city views are equally unimpressing.

Burglaries of condos are more common than of homes, and the highest risk factor is Thai security.

I have a home because I have a double bed to myself, 8 hours of uninterrupted sleep each night. After a couple of years with the same woman, you want to share the bed for sex only. She has her own bedroom with shrine, and ghost appeasement equipment, and the pics every Thai must have, the stuff I don't want around me. The garden, fishpool, and the dogs keep me busy for hours every day. Probably better than to visit bars every day for a distraction.

You life is weird. If I didn't want to sleep with her I wouldn't let her around.

And you must have good statistics to tell such BS as burglaries are more common in condos that all have CCTV than poorly equipped house (90%, I am as good at statistics as you !).

Search on Thaivisa and you will see if more complain about their retarded noisy neighbors when living in a house or in a condo... the facts...

We all (me included) are so sure about what we tell, but some should open their eyes a bit more on FACTS and they will understand how much they are wrong.

But if it makes you feel happy, it's good, I just want you happy :-)

Edited April 7, 2013 by Fgis

[jbrain]

That condominiums are relatively over-valued is perhaps because foreigners can actually own them, which skews demand towards condominiums in a place like Pattaya.

That is about the major reason Winnie.

Other is that most of the Condo's are built by foreign companies who want to drive a Ferrari after they sold the first floor, and calculate that the majority of the 51% that has to be Thai owned will never be sold.

Condo's are also build in prime locations, and land prices have gonne through the roof since there is only 1 first line at the beach.

If you take a look at condo projects like say East Pattaya the prices are a third of the ones at Jomtien beach, and nevertheless they can't get them sold.

Look at The koral and a few other projects east of Sukhumvith that went broke before the first brick was laid.

For the price of a 60 m² condo in Jomtien I built a 350 m² house with pool and and seperate maids quarters to a high standard on a 1600 m² piece of land 12 km outside of the Pattaya madness, but yet within 1 km from the Highway 7 so easy access to anywhere.

Oh, and I also don't have to pay 2500 baht a month to a condo fund which disappears in the pockets of the project owners

I also read of another post you made about you have no security in case of break in and can not call police. Maybe you could use some of your maid quarters for a security guard? Also a house is more for a family situation. A lot of single guys (and prefer it to stay that way) here that don't need all that extra room and not have to worry when they leave condo as they would if they had a house.

You're right about my other post, and of corse it was the intention to have the maids quarters occupied.

But that is a story for another thread. Can you provide me with a maid who wants to clean a house 10 km outside Pattaya center? Read : the other side of the world, according to all the maids I have contacted so far.

[thenervoussurgeon]

Buy him a house then.

Why do you want a condo for him?

And there in lies your answer.

hE IS A YOUNG LAD ,HE DOES NOT WA

Buy him a house then.

Why do you want a condo for him?

And there in lies your answer.

He is a young lad ,he does not want the bother of a house ,or a sea view for that matter ,a house will be for when he is married and has kids.

[willyumcr]

That condominiums are relatively over-valued is perhaps because foreigners can actually own them, which skews demand towards condominiums in a place like Pattaya.

That is about the major reason Winnie.

Other is that most of the Condo's are built by foreign companies who want to drive a Ferrari after they sold the first floor, and calculate that the majority of the 51% that has to be Thai owned will never be sold.

Condo's are also build in prime locations, and land prices have gonne through the roof since there is only 1 first line at the beach.

If you take a look at condo projects like say East Pattaya the prices are a third of the ones at Jomtien beach, and nevertheless they can't get them sold.

Look at The koral and a few other projects east of Sukhumvith that went broke before the first brick was laid.

For the price of a 60 m² condo in Jomtien I built a 350 m² house with pool and and seperate maids quarters to a high standard on a 1600 m² piece of land 12 km outside of the Pattaya madness, but yet within 1 km from the Highway 7 so easy access to anywhere.

Oh, and I also don't have to pay 2500 baht a month to a condo fund which disappears in the pockets of the project owners

I also read of another post you made about you have no security in case of break in and can not call police. Maybe you could use some of your maid quarters for a security guard? Also a house is more for a family situation. A lot of single guys (and prefer it to stay that way) here that don't need all that extra room and not have to worry when they leave condo as they would if they had a house.

You're right about my other post, and of corse it was the intention to have the maids quarters occupied.

But that is a story for another thread. Can you provide me with a maid who wants to clean a house 10 km outside Pattaya center? Read : the other side of the world, according to all the maids I have contacted so far.

I for sure would not know a maid as g/f does that. Perhaps your wife / gf would have a family member from the province who would be glad for the income.Just a suggestion

[BlackPuddingBertha]

You can't escape the noise in Thailand anywhere. In a condo, you get screaming brats, arguing neighbours, parties on the balcony next to yours at 4 in the morning, construction noise the day over, traffic, TVs and music players at max volume. .................. Burglaries of condos are more common than of homes, ......

I think you must have experienced the wrong sort of condo. Next time, perhaps try something a bit classier than Nirun.

[Almera]

Remember, when deciding on your rental budget, you are also going to be paying for the quality of your neighbours there.

[Naam]

... during the construction of our home we lived in a penthouse with seaview (Jomtien 20th floor). noise pollution 24 hours 7 days a week, seaview hampered by closed sun shades and curtains because sun from 10.00 in the mornings till sunset on 100+m² of glass.

You made a very poor choice of building/unit. Maybe you should have done a bit more research.

i had no choice. the Mrs chose. when she found out it was the wrong choice it was too late. it didn't bother me much because it was temporary.

[BlackPuddingBertha]

i had no choice. the Mrs chose. when she found out it was the wrong choice it was too late. it didn't bother me much because it was temporary.

Fair enough. At least you didn't buy it.

I went to a show unit in one of the new builds in Wong Amat last year. With the all-glass front it was like being in an oven, and the double-height ceilings with no drapes or blinds didn't help. The aircon units were enormous and going flat out to little effect. I dread to think what the electricity bill would be in those units, or how they would clean all that glass.

[thenervoussurgeon]

So what happens to the unsold Thai units? like the ones that you can look into from the car park of cental dept store,does anyone ever buy them and do they go cheap?