Where To Buy Condo In Pattaya?

[dagling]

Where to get the best value?

I'm considering a condo in Pattaya with large balcony, sea view, 2 bedrooms, central location. Condo must be purchased in my own name. Price 5-10 million bath.

Want a Condo in one well established area where maintenance and cleaning is taken care of, but new projects may also be of interest.

Some good and serious suggestions?

One other question since I do not immediately need or rush to buy Condo. Are the rates for Condo in Pattaya too high, or can we expect to see fall in the near future?

There is talk that Thailand can go to major financial problems in the near future, which lead to a fall in the housing market, so buy now or wait?

[greg71]

Invest only what you can afford to walk away from.

[dagling]

Invest only what you can afford to walk away from.

I know. But that was not my question.

[BlackPuddingBertha]

"I'm considering a condo in Pattaya with large balcony, sea view, 2
bedrooms, central location. Condo must be purchased in my own name.
Price 5-10 million bath.

Want a Condo in one well established area where maintenance and
cleaning is taken care of, but new projects may also be of interest."

You dont say what you are intending to do with this condo. Live in it? Rent it out? Long-term or short-term?

2 beds in a central location in Pattaya with sea view and farang name for 5MB? That wont be easy.

You can get 2 beds in a new building in Pratumnak or Jomtien with a (distant) sea view for that price, but the rooms will be small, often with barely enough space to walk around the bed. Some people dont seem to mind this but I dont like it. I saw a new build condo the other day which was described as 2-bed but the second bedroom was actually more like a storage room with a single bed in it though it did have a full height window. And the bed was wall to wall lengthwise so a complete pain to change the sheets etc. Had I bought the unit I would have removed the bed and called it a small office and that would have been quite nice.

Cleaning isnt a problem anywhere of course.

Are prices way over the top here at the moment? I would say so. Will they drop? Yes if the bubble bursts.

[dagling]

"I'm considering a condo in Pattaya with large balcony, sea view, 2

bedrooms, central location. Condo must be purchased in my own name.

Price 5-10 million bath.

Want a Condo in one well established area where maintenance and

cleaning is taken care of, but new projects may also be of interest."

You dont say what you are intending to do with this condo. Live in it? Rent it out? Long-term or short-term?

2 beds in a central location in Pattaya with sea view and farang name for 5MB? That wont be easy.

You can get 2 beds in a new building in Pratumnak or Jomtien with a (distant) sea view for that price, but the rooms will be small, often with barely enough space to walk around the bed. Some people dont seem to mind this but I dont like it. I saw a new build condo the other day which was described as 2-bed but the second bedroom was actually more like a storage room with a single bed in it though it did have a full height window. And the bed was wall to wall lengthwise so a complete pain to change the sheets etc. Had I bought the unit I would have removed the bed and called it a small office and that would have been quite nice.

Cleaning isnt a problem anywhere of course.

Are prices way over the top here at the moment? I would say so. Will they drop? Yes if the bubble bursts.

I will live in it, and I can go up to 10 mill. bath if you read my post again

[BlackPuddingBertha]

I will live in it, and I can go up to 10 mill. bath if you read my post again:)

I did read it. I read that you wanted to spend from 5 to 10MB which is fairly vague. I told you that you would have trouble finding that sort of thing in central Pattaya for 5MB. If you spend more you will find it easier, though for the moment there is very little choice in central Pattaya with all the things you want and so prices will be even higher than they are elsewhere. This will change a little over the next 2 years. I gave some suggestions as to where you could look now and get better value, though those places also have their drawbacks.

If I were you I would rent somewhere for 6-12 months first and see how you like it as it doesnt sound as though you know the town very well at all. But maybe the idea of selling at a loss doesnt bother you.

[Langsuan Man]

There is talk that Thailand can go to major financial problems in the near future

says who ?

BTW, it's Baht, not Bath (one you spend the other you clean with)

Edited May 9, 2013 by Langsuan Man

[Halfaboy]

If you want to live as I understand there are three options for you along Beach road: View Talay 6, North Shore and Markland. Do a search on the sites of the various real estate agents and you will see what’s available.

Hope this helps.

[Robert2006]

The goal you want to accomplish is possible if you know how to do it and I know how it's done but (unless I get lucky) it could take me about 2-3 months to find you the right property, only because I’m not currently working. I have done this work all my life; I started in my family business when I was 18 and owned my own company for about 20 years, now retired in Pattaya for 7 years. I’m still a relatively young man (under 50 years) and it’s not an issue for me to prospect a few hundred properties to find a good deal.

There are a lot more locations than View Talay 6, North Shore and Markland, I’ve look the market over extensively since I’ve been
living here. I could do it for you, I want to be compensated for my efforts, but only if you buy something from
me, you are not obligated to buy through me, and you can feel free to buy from anyone that finds the property you want to buy.

I’ve been thinking of forming a real estate company here, after 7 years I’m getting bored; maybe your deal could be the push I need to get back in the game. It could be a win/win for both of us. If you want to talk post me your number and I’ll call you.

[dagling]

The goal you want to accomplish is possible if you know how to do it and I know how it's done but (unless I get lucky) it could take me about 2-3 months to find you the right property, only because I’m not currently working. I have done this work all my life; I started in my family business when I was 18 and owned my own company for about 20 years, now retired in Pattaya for 7 years. I’m still a relatively young man (under 50 years) and it’s not an issue for me to prospect a few hundred properties to find a good deal.

There are a lot more locations than View Talay 6, North Shore and Markland, I’ve look the market over extensively since I’ve been

living here. I could do it for you, I want to be compensated for my efforts, but only if you buy something from

me, you are not obligated to buy through me, and you can feel free to buy from anyone that finds the property you want to buy.

I’ve been thinking of forming a real estate company here, after 7 years I’m getting bored; maybe your deal could be the push I need to get back in the game. It could be a win/win for both of us. If you want to talk post me your number and I’ll call you.

Thanks for your reply, but as mentioned earlier in this post, I have no hurry to buy. I'm just trying to find out WHERE in Pattaya is regarded as one good area to buy in my price range and needs.But would I need your expertise and knowledge, I will send you a PM.

[BlackPuddingBertha]

There are a lot more locations than View Talay 6, North Shore and Markland,...

In central Pattaya with a proper sea view as requested by the OP? I dont think so. There will be more in a year or two though, as I mentioned.

I’ve been thinking of forming a real estate company here, after 7 years I’m getting bored;

Just what Pattaya needs: another bored real estate agent to add to the apparently endless list.

[BlackPuddingBertha]

I'm just trying to find out WHERE in Pattaya is regarded as one good area to buy in my price range and needs.

You said you wanted central Pattaya. Do you or dont you? As I said, you dont seem to know the town at all so maybe you should be doing some legwork yourself.

[Postmaster]

Jomtien or Pratumnak far preferable. Away from the hustle and bustle and the traffic yet only 10 minutes into Central Pattaya if you need to go there.

[andyl66]

Jomtien or Pratumnak far preferable. Away from the hustle and bustle and the traffic yet only 10 minutes into Central Pattaya if you need to go there.

Agreed, with those areas. However, I would strongly suggest rental as the best route. Thailand is just about at the peak of it's property boom and as an investment Thailand is not great because, firstly, Thai's do not like to buy second hand homes, so the moment you move in you'll have just shaved two to three million off the value. Next, property building is going crazy again, and the prices are stupid - ten million baht is over $350k and you can buy a place in New York or London for that. Remember this, Thailand is an UNREGULATED housing market, also use your own eyeballs and see that nothing here is over 20 years old! They build, keep it up for a few years and then knock them down! Because the housing market is unregulated it means that just because you're buying freehold you are a farang and can NEVER own land, so the land will always belong to someone else. That someone else will invariably be a Thai national, and when he or she decides to knock the entire apartment block down you will just receive a letter in your now broken mailbox that you have to leave.

This is Thailand and what has great security, and a great management service today, you will notice those levels of great service take a dramatic nosedive once all the units have been sold. Where I live in Bangkok we used to have a shuttle service to both the airport and the local BTS, it was provided free of charge as part of the service charge. The pool area was maintained and was spotless, all the windows downstairs in the reception area were spotless. We had 24 hour call-out for repairs. On the day that the last unit was sold the free shuttle service ended! The pool maintenance went from daily to weekly and now every two weeks. The fountains that were always permanently on and lit at night haven't even been turned on for the last six months. Our 24 hour repairs service has stopped and we are now told we need to hire someone ourselves, but they can suggest someone (who charges about ten times Thai minimum wage). The building needs painting, the balcony was obviously built using cheap steel because the railings are now rusting and has stained the walls with rust. These units sold for 2.5 million five years ago, if we sold our now we'd be lucky to get 1.5 million unless we found a stupid farang willing to part with his cash. If I could go back in time I'd have rented.

Seriously! What I'd do if I were you is buy a property in London, rent that out - which will take you roughly 2 minutes and use that money to rent the property of your dreams in Pattaya. Pattaya becomes very old, very quickly. Unless you are working there then I wouldn't ever suggest it as a place to have your main residence. London offers a more realistic return on investment. In Thailand the population earns 300 baht per day and 50,000 THB per month is considered an enormous wage. In London a part-time toilet cleaner will earn that! So how can it justify ten million for an apartment? It can't, so the bubble will burst!

You must use common sense! You will certainly be buying from Russian mafia when you buy in Pattaya, built by Russian contractors, and I've seen those buildings going up, with just a two inch breeze block wall, and plasterboard dividing walls. Every corner has been cut when they built them, and bribes have all been paid to make sure they get away with it. Don't believe me? Go to any current residential property building site and look at the absolutely terrible quality of materials being used. Oh, and with the Russians, if you've got a complaint then prepare to commit suicide if you make too much fuss!

Pattaya is also solely reliable on the girly trade, when Walking Street closes your property will be absolutely worthless. Walking street will close, it is inevitable, the land prices are being pushed too high, very soon the land the clubs are on will be worth far more than anything the clubs can even hope to make. Pattaya is very quickly becoming too expensive to maintain itself. Prostitution is also illegal in Thailand, and if a gvt comes in that starts to tackle corruption (which it will do, because Thailand is developing very, very quickly) it will shut Walking Street down. Thai GDP is coming less and less from tourism and the sex tourist portion of that GDP is even less still (with many now preferring to go to Vietnam/Phil/Cambodia - where the sex is so much cheaper). Also, the Russian Mafia are crawling all over Pattaya and the Gvt will very soon want them out! So Pattaya is doomed I'm afraid. It certainly will not exist in it's present form in five years from now. That much is certain. For God's sake rent!

[johnnyk]

Friend of mine retired after making a pile of money as a real estate agent in Southern Cal. His professional judgment was buying a condo in funtown was not a good move. His formula was that monthly rent= 1% of purchase price. He lived in an ocean front unit, high floor, balcony sea view, abouy 65sq m area. His rent was 24K/month. Sale price of the unit was 4.25 million and, as he said, if the landlord is bad news or the neighbours are noisy idiots he can move and if the political feces hit the fan he can head for the airport without leaving behind a pile of money.

Rent first to see if you like it.

As andyl66 says, P-town gets old very quickly.

[chris2004]

I would recommend the Pratamnack area. Close to both Jomtien and Pattaya but still a quiet area. On the Thappraya road you have access to baht buses as well. The new Axis development looks very nice, if i was buying again i'd go for that. I think the View Talays are too big and impersonal.

Don't buy off plan.

[PattayaPhom]

Jomtien or Pratumnak far preferable. Away from the hustle and bustle and the traffic yet only 10 minutes into Central Pattaya if you need to go there.

Agreed, with those areas. However, I would strongly suggest rental as the best route. Thailand is just about at the peak of it's property boom and as an investment Thailand is not great because, firstly, Thai's do not like to buy second hand homes, so the moment you move in you'll have just shaved two to three million off the value. Next, property building is going crazy again, and the prices are stupid - ten million baht is over $350k and you can buy a place in New York or London for that. Remember this, Thailand is an UNREGULATED housing market, also use your own eyeballs and see that nothing here is over 20 years old! They build, keep it up for a few years and then knock them down! Because the housing market is unregulated it means that just because you're buying freehold you are a farang and can NEVER own land, so the land will always belong to someone else. That someone else will invariably be a Thai national, and when he or she decides to knock the entire apartment block down you will just receive a letter in your now broken mailbox that you have to leave.

This is Thailand and what has great security, and a great management service today, you will notice those levels of great service take a dramatic nosedive once all the units have been sold. Where I live in Bangkok we used to have a shuttle service to both the airport and the local BTS, it was provided free of charge as part of the service charge. The pool area was maintained and was spotless, all the windows downstairs in the reception area were spotless. We had 24 hour call-out for repairs. On the day that the last unit was sold the free shuttle service ended! The pool maintenance went from daily to weekly and now every two weeks. The fountains that were always permanently on and lit at night haven't even been turned on for the last six months. Our 24 hour repairs service has stopped and we are now told we need to hire someone ourselves, but they can suggest someone (who charges about ten times Thai minimum wage). The building needs painting, the balcony was obviously built using cheap steel because the railings are now rusting and has stained the walls with rust. These units sold for 2.5 million five years ago, if we sold our now we'd be lucky to get 1.5 million unless we found a stupid farang willing to part with his cash. If I could go back in time I'd have rented.

Seriously! What I'd do if I were you is buy a property in London, rent that out - which will take you roughly 2 minutes and use that money to rent the property of your dreams in Pattaya. Pattaya becomes very old, very quickly. Unless you are working there then I wouldn't ever suggest it as a place to have your main residence. London offers a more realistic return on investment. In Thailand the population earns 300 baht per day and 50,000 THB per month is considered an enormous wage. In London a part-time toilet cleaner will earn that! So how can it justify ten million for an apartment? It can't, so the bubble will burst!

You must use common sense! You will certainly be buying from Russian mafia when you buy in Pattaya, built by Russian contractors, and I've seen those buildings going up, with just a two inch breeze block wall, and plasterboard dividing walls. Every corner has been cut when they built them, and bribes have all been paid to make sure they get away with it. Don't believe me? Go to any current residential property building site and look at the absolutely terrible quality of materials being used. Oh, and with the Russians, if you've got a complaint then prepare to commit suicide if you make too much fuss!

Pattaya is also solely reliable on the girly trade, when Walking Street closes your property will be absolutely worthless. Walking street will close, it is inevitable, the land prices are being pushed too high, very soon the land the clubs are on will be worth far more than anything the clubs can even hope to make. Pattaya is very quickly becoming too expensive to maintain itself. Prostitution is also illegal in Thailand, and if a gvt comes in that starts to tackle corruption (which it will do, because Thailand is developing very, very quickly) it will shut Walking Street down. Thai GDP is coming less and less from tourism and the sex tourist portion of that GDP is even less still (with many now preferring to go to Vietnam/Phil/Cambodia - where the sex is so much cheaper). Also, the Russian Mafia are crawling all over Pattaya and the Gvt will very soon want them out! So Pattaya is doomed I'm afraid. It certainly will not exist in it's present form in five years from now. That much is certain. For God's sake rent!

When are people going to stop comparing Thailand to London New York etc......Thailand and SE Asia is the powerhouse of the world at the moment..London and NY are cesspits riddled with crime and junkies, both countries are in a recession..apples and oranges again. Russian contractors in Pattaya!!!!!.where????? absolute tosh.....as for WS, maybe you havnt noticed that Pattaya is a family orientated city now with water parks, shopping malls etc built or under construction. Pattaya doomed, it wont exsist in its present form 5 years from now, just the same as it has changed so much in the past 5 years.....Not sure if you are talking about Pattaya Chonburi or a Pattay from a spaced out dream

[DeeMak9]

Have a very nice highfloor 2 bedroom unit with fantastic sea views for sale in The Base Central Pattaya . Contact me if you like more details ; pattaya [at] live.nl . Im the owner, not an agent. Its in foreign name and fully furnished.

Edited May 13, 2013 by DeeMak9

[BlackPuddingBertha]

Have a very nice highfloor 2 bedroom unit with fantastic sea views for sale in The Base Central Pattaya . Contact me if you like more details ; pattaya [at] live.nl . Im the owner, not an agent. Its in foreign name and fully furnished.

Dont you mean that you have an off-plan contract for sale in the Base? They havent started building it yet. You are presumably one of the speculators I mentioned in another post.

If the OP wanted an off-plan unit he would be better off buying one himself at the building launch rather than buying a resale contract at a higher price from someone else.

[Robert2006]

There are a lot more locations than View Talay 6, North Shore and Markland,...

In central Pattaya with a proper sea view as requested by the OP? I dont think so. There will be more in a year or two though, as I mentioned.

>I’ve been thinking of forming a real estate company here, after 7 years I’m getting bored;

Just what Pattaya needs: another bored real estate agent to add to the apparently endless list.

“The Queen of Northern Soul” that’s really a cute name, what pitiful intellect. I imagine in the world you live in the fact that a pathetic self-propelled stomach like you actually learned to type is considered an accomplishment.

Good thing we don’t need any more gas station attendees here in Thailand we don’t have to worry about you coming out of retirement and going back to work here.

Go drink another beer and type some more insults on your ancient decrepit dirty keyboard you degenerate.

[BlackPuddingBertha]

“The Queen of Northern Soul” that’s really a cute name, what pitiful intellect. I imagine in the world you live in the fact that a pathetic self-propelled stomach like you actually learned to type is considered an accomplishment.

Good thing we don’t need any more gas station attendees here in Thailand we don’t have to worry about you coming out of retirement and going back to work here.

Go drink another beer and type some more insults on your ancient decrepit dirty keyboard you degenerate.

Looks like someone got out of bed on the wrong side.

[rayongchelsea]

I am selling my real estate here to re- invest back in London. It is quite sensible to compare as any 2 or more investments are.

I have done fantastically well having bought in London in the 90's and here in the early 2000 but in terms of consistent returns, less hassle, laws, reliability of rental agent, void periods - there are clearly strong arguments in favour.

Downside, returns may decrease because of appreciation of the baht, income taxes, inheritance tax etc..

The CAM fees are not now that different..

I would look at Spain or the US as well, but I do not know those markets..

Just invest where you have knowledge..be it pattaya, Bangkok, London or Spain..do not rely on anyone else..

Forums are good to understand more of the legal aspects of property and to ask about pitfalls..I lived here 10 years before I bought..and had my eye on just one building for 3 years before I purchased..you must be cautious..

I have bought off plan..nightmare..bought a new house sold at cost, bought second hand condos in very good locations - excellent.

[johnnyk]

Naklua

[Senechal]

Here's my sincere advice: Ask to see some condos that are 10 years old.

This is something that almost NO ONE does, and I promise you it will have a profound effect on your decision to buy in Pattaya (or Thailand).

Most foreigners come to Thailand with an unfortunate (and quite justifiable) pre-conception of how properties age. 10 years old, back in Farangland, is not particularly old for a condominium. In Thailand however, I think you will be floored.

I have seen absolutely dilapidated, crumbling pieces of crap that are LESS than 10 years old. By looking at the lobby and the facade of the building I can tell that at one time the buildings were probably beautiful, shiny, promising investments.

Just 10 years later, a massive portion of the value is gone, and the re-sale potential has gone up in smoke.

*This* is the problem with buying condos in Thailand. What YOU perceive as a long term investment is in fact a consumable, medium-term product.

I don't know how else to say it. And it frankly amazes me that people are so blinded by the shiny, glitzy new condos on the market (which are smaller every year!) without ever wondering "Where are the old ones?" In most European and American cities, there are stately, old and well-maintained buildings. Look hard around Thailand and tell me how many you find!

[ronaldinpattaya]

I rent a Condo now in Pratamnak Soi 5.

Beatiful views, nice, but far away from the baht bus.

After looking for 6 months I bought a Condo in View Talay 7. It is on the beach, you can smell the sea. Everything is around it and the baht bus stops for the door. It was more expensive. I paid 7,8 mio for 96 m2. But fantastic view to Jomtien.

I think location is the best.

Verzonden vanaf mijn iPad met behulp van Thaivisa Connect Thailand

[Globalist]

There are few if any quality seaview condo developments in central Pattaya. There may be some on the way though.

There are some better builds in Naklua.

[Estanislao]

Here's my sincere advice: Ask to see some condos that are 10 years old.

This is something that almost NO ONE does, and I promise you it will have a profound effect on your decision to buy in Pattaya (or Thailand).

Most foreigners come to Thailand with an unfortunate (and quite justifiable) pre-conception of how properties age. 10 years old, back in Farangland, is not particularly old for a condominium. In Thailand however, I think you will be floored.

I have seen absolutely dilapidated, crumbling pieces of crap that are LESS than 10 years old. By looking at the lobby and the facade of the building I can tell that at one time the buildings were probably beautiful, shiny, promising investments.

Just 10 years later, a massive portion of the value is gone, and the re-sale potential has gone up in smoke.

*This* is the problem with buying condos in Thailand. What YOU perceive as a long term investment is in fact a consumable, medium-term product.

I don't know how else to say it. And it frankly amazes me that people are so blinded by the shiny, glitzy new condos on the market (which are smaller every year!) without ever wondering "Where are the old ones?" In most European and American cities, there are stately, old and well-maintained buildings. Look hard around Thailand and tell me how many you find!

Is there a guide to condo buildings? Something like reviews of different projects by owners, ex-owners or renters?

I have been out of Pattaya for a while, but isn't Saranchol still in excellent condition after 20 years? I suppose building standards have dropped in that time, with average condo size.

[Rimmer]

Two commercial posts have been removed

[ace]

Here's my sincere advice: Ask to see some condos that are 10 years old.

This is something that almost NO ONE does, and I promise you it will have a profound effect on your decision to buy in Pattaya (or Thailand).

Most foreigners come to Thailand with an unfortunate (and quite justifiable) pre-conception of how properties age. 10 years old, back in Farangland, is not particularly old for a condominium. In Thailand however, I think you will be floored.

I have seen absolutely dilapidated, crumbling pieces of crap that are LESS than 10 years old. By looking at the lobby and the facade of the building I can tell that at one time the buildings were probably beautiful, shiny, promising investments.

Just 10 years later, a massive portion of the value is gone, and the re-sale potential has gone up in smoke.

*This* is the problem with buying condos in Thailand. What YOU perceive as a long term investment is in fact a consumable, medium-term product.

I don't know how else to say it. And it frankly amazes me that people are so blinded by the shiny, glitzy new condos on the market (which are smaller every year!) without ever wondering "Where are the old ones?" In most European and American cities, there are stately, old and well-maintained buildings. Look hard around Thailand and tell me how many you find!

Is there a guide to condo buildings? Something like reviews of different projects by owners, ex-owners or renters?

I have been out of Pattaya for a while, but isn't Saranchol still in excellent condition after 20 years? I suppose building standards have dropped in that time, with average condo size.

Saranchol, Star & Sky beach, Golden, VT6, etc all in good condition, 20 years old. Some of the new builds though do look like they'd go over in a strong wind. Small too. I prefer Naklua as a location. Stay away from AD condos, very bad rep. I know to my cost. I like to own, and the costs are not comparable to London at all.

[zierf1]

holee shiiiteee! I would be afraid to invest even 500,000 baht in a cheap ass unit in nirun or spanish condo. And you want to invest 5-10 million? are you nuts? Remember you are a foreigner and as we all know foreigners have no legal rights whatsoever in Thailand. Follow this simple equation mate: money invested in Thailand = gone.