Pattaya Property Show – 9th till 12th January 2014

[InspirePattaya]

 
The first Pattaya Property Show will take place at the Hilton Pattaya from January 9th-12th 2014.Organised by Exact Trading Company Ltd, this new exhibition has attracted over 50 leading developers and realtors from Pattaya, plus exhibitors representing real estate from Koh Lanta, Rayong and Koh Chang.
 
Platinum Sponsor is the Universal Group, and Gold Sponsors are Blue Sky and A+ Properties. Exhibitors include Raimon Land, Sansiri, Kingdom Property, REBA, The Urban, Ocean Residential Property, Siam Realty, Compass, Porchland, Beach Front, Sands, Nova Group, Siam Royal View, Beach Properties, Elegance, Mosaic, Onyx and the Riviera. 
 
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[inspirep]2014-1-10[/inspirep]

[mrfaroukh]

Once I was in one of the expats club. They were talking about availability of 45000 unsold property, 300 000 more under construction, most of those sold are not even inhibited. I wonder who is going to buy all these properties with new political problems, moving of expats from Thailand to cheaper places like Philippines, Cambodia etc. Is there a big bobble in property coming up???

[jacko45k]

Once I was in one of the expats club. They were talking about availability of 45000 unsold property, 300 000 more under construction, most of those sold are not even inhibited. I wonder who is going to buy all these properties with new political problems, moving of expats from Thailand to cheaper places like Philippines, Cambodia etc. Is there a big bobble in property coming up???

 

Perhaps Thai people looking for an escape from the heat and troubles of Bangkok.

Many Russians are buying places to stay in Pattaya area.

Expats are not the main market..... soon to be Expats perhaps.

They are building huge places further and further to the South since Jomtiem 2nd Rd has opened it up more.

Over supply doesn't seem to be a consideration yet.
 

[CraigSchuler]

Seems like some bad timing on their part.

[chris2004]

It just seems crazy at the moment. From my Jomtien balcony i can see about a dozen high rise cranes and they are building condos on every spare inch of land.  Where is the finance coming from? they can't possibly sell even a small percentage of those being built.

[jacko45k]

It just seems crazy at the moment. From my Jomtien balcony i can see about a dozen high rise cranes and they are building condos on every spare inch of land.  Where is the finance coming from? they can't possibly sell even a small percentage of those being built.

I thought quite a few of these projects were actually financed by off-plan purchases.

You can see some marketing effort in the shopping malls.

Hard to get the true picture, those doing the marketing and building will always try and talk the  market up.

I know a few who are unable to sell their units suggesting a stagnant second-hand market...

[JSixpack]

Seems like some bad timing on their part.

 

Good timing.
 

[CraigSchuler]

 

Seems like some bad timing on their part.

 

Good timing.
 

 

 

How do you figure?

[JSixpack]

 

 

Seems like some bad timing on their part.

 

Good timing.
 

 

 

How do you figure?

 

 

How do you?
 

[mrfaroukh]

 

It just seems crazy at the moment. From my Jomtien balcony i can see about a dozen high rise cranes and they are building condos on every spare inch of land.  Where is the finance coming from? they can't possibly sell even a small percentage of those being built.

I thought quite a few of these projects were actually financed by off-plan purchases.

You can see some marketing effort in the shopping malls.

Hard to get the true picture, those doing the marketing and building will always try and talk the  market up.

I know a few who are unable to sell their units suggesting a stagnant second-hand market...

 

The same thing was happening once upon a time in Dubai. Before any project start you hear that it is already sold out. Once I was there and understood why. An investor comes in and buy 2 or 3 floors, and others do the same. Now within few hours everything was sold out and you think that end users are buying it. But it was not true. Right there someone came and wanted to buy 2 condos. He was told that everything is sold out. A person who already had bought few floors offered him 2 condos with 10% profit. So the same thing goes on. Those who buy again wait for couple of months and sell it with 30% profit and so on. But how long could this carry on? After some time the bobble broke. Many people lost their money as the project did not even start.

 

Now in Pattaya same thing is happening. A condo which was 35 SQM used to be sold for 1 million baht. Now the sell a 25 SQM for over a million. Just now Tullip group are selling 35 SQM for 2.5 million. Do you really think that the property prices should go up so much within couple of years.

 

In October this year I was trying to rent a condo. The office said there is only one vacancy which gladly I got it, but later on I met a friend who was staying in the same building. He has rented a similar flat much cheaper than me. I check the same from the site he got his booking done. Then I realized that almost half of the building was vacant and that company was renting them out. You can try the same right now. Go to any site, mention the name of project you like to rent from and you will see how many are vacant.

 

Another thing they do in Mall is when the project has not even started they tell you 40% is already sold out, some say even more. Then even if you are a buyer they try to sell you those condos not easily salable.

 

I feel in few years time max 3 the bobble will break.

[JesseFrank]

 

 

It just seems crazy at the moment. From my Jomtien balcony i can see about a dozen high rise cranes and they are building condos on every spare inch of land.  Where is the finance coming from? they can't possibly sell even a small percentage of those being built.

I thought quite a few of these projects were actually financed by off-plan purchases.

You can see some marketing effort in the shopping malls.

Hard to get the true picture, those doing the marketing and building will always try and talk the  market up.

I know a few who are unable to sell their units suggesting a stagnant second-hand market...

 

The same thing was happening once upon a time in Dubai. Before any project start you hear that it is already sold out. Once I was there and understood why. An investor comes in and buy 2 or 3 floors, and others do the same. Now within few hours everything was sold out and you think that end users are buying it. But it was not true. Right there someone came and wanted to buy 2 condos. He was told that everything is sold out. A person who already had bought few floors offered him 2 condos with 10% profit. So the same thing goes on. Those who buy again wait for couple of months and sell it with 30% profit and so on. But how long could this carry on? After some time the bobble broke. Many people lost their money as the project did not even start.

 

Now in Pattaya same thing is happening. A condo which was 35 SQM used to be sold for 1 million baht. Now the sell a 25 SQM for over a million. Just now Tullip group are selling 35 SQM for 2.5 million. Do you really think that the property prices should go up so much within couple of years.

 

In October this year I was trying to rent a condo. The office said there is only one vacancy which gladly I got it, but later on I met a friend who was staying in the same building. He has rented a similar flat much cheaper than me. I check the same from the site he got his booking done. Then I realized that almost half of the building was vacant and that company was renting them out. You can try the same right now. Go to any site, mention the name of project you like to rent from and you will see how many are vacant.

 

Another thing they do in Mall is when the project has not even started they tell you 40% is already sold out, some say even more. Then even if you are a buyer they try to sell you those condos not easily salable.

 

I feel in few years time max 3 the bobble will break.

 

 

 I hear there are some great deals on offer at Suan Sawarn, The Park, Zen in the park and Ocean One just to name a few.

 

Oh, I almost forgot Whites Sands beach or is it the Sails ?
 

[guzzi850m2]

I think many BKK Thais, Russians, Chinese and others from the Region buys condos here as a holiday home.

 

I am no expert but doubt the bubble will burst,why should it?

 

It's a bit worrying with all this building going on, the infrastructure of Pattaya is not up to the task. 

 

Around my village in north pattaya near BKK/Patt hospital, condos/town houses/ small hotels have been build over the last 2 years and land prices have gone though the roof.

 

Even on the dark side are there being build condos/town houses big time so it's all over the place so the people building them must be very confident they can sell them.

 

If you are on the market for a condo be very careful, location, location, location still rules and you should spend a long time checking/looking before committing yourself and make sure you get it to the right price or you loose big time. 

 

One last word: My house was not bought as an investment as such but but more like a nice place for my family to live. When you own your own place you can decorate as you want, buy top off the shelf hardware/TVs and so on. It's also nice to know that only your family have been using the bed and not some strangers. In other words, I want to hang my coat in my own place and not in something that don't belong to me, at last not in the long term.

 

​No I am not in the real estate business but only air my opinion.  

 

[midas]

 

 

Seems like some bad timing on their part.

 

Good timing.
 

 

 

How do you figure?

 

 

 

 

Craig you have to understand Jsixpack considers himself erm ………a contrarian

[midas]

I think many BKK Thais, Russians, Chinese and others from the Region buys condos here as a holiday home.
 

I am no expert but doubt the bubble will burst,why should it?

 

It's a bit worrying with all this building going on, the infrastructure of Pattaya is not up to the task. 

 

Around my village in north pattaya near BKK/Patt hospital, condos/town houses/ small hotels have been build over the last 2 years and land prices have gone though the roof.

 

Even on the dark side are there being build condos/town houses big time so it's all over the place so the people building them must be very confident they can sell them.

 

If you are on the market for a condo be very careful, location, location, location still rules and you should spend a long time checking/looking before committing yourself and make sure you get it to the right price or you loose big time. 

 

One last word: My house was not bought as an investment as such but but more like a nice place for my family to live. When you own your own place you can decorate as you want, buy top off the shelf hardware/TVs and so on. It's also nice to know that only your family have been using the bed and not some strangers. In other words, I want to hang my coat in my own place and not in something that don't belong to me, at last not in the long term.

 

​No I am not in the real estate business but only air my opinion.  

 

How can real estate values keep going up when so many people are already  saddled with exorbitant debt for consumer goods like cars and yet real incomes and employment opportunities around the world are falling?

Edited January 11, 2014 by midas

[JSixpack]

 

 

 

Seems like some bad timing on their part.

 

Good timing.
 

 

 

How do you figure?

 

 

 

 

Craig you have to understand Jsixpack considers himself erm ………a contrarian

 

 

You think so merely because I enjoy laughing at your goldbug nonsense and your parroting of internet chatter that fits your little obsession.

 

No, what I am is one who thinks for himself and tries to be objective.

 

But this is all off topic. Hope you enjoyed yourself and feel better.
 

[KittenKong]

Seems like some bad timing on their part.

Good timing.

How do you figure?

How do you?

He's behind you!

Oh no he isn't!

[midas]

 

 

 

 

Good timing.
 

 

How do you figure?

 

 

 

 

Craig you have to understand Jsixpack considers himself erm ………a contrarian

 

 

You think so merely because I enjoy laughing at your goldbug nonsense and your parroting of internet chatter that fits your little obsession.

 

No, what I am is one who thinks for himself and tries to be objective.

 

But this is all off topic. Hope you enjoyed yourself and feel better.
 

 

 

 

What obsession? An obsession the world is swimming in debt and all they keep doing is printing more and more funny money? They pushed the stock-market up to record highs and yet labour participation rate in USA is the lowest it's been since 1978?    What happened?

 

 

http://www.economist.com/content/global_debt_clock

[JSixpack]

He's behind you!

Oh no he isn't!

 
I figure the poster raising the topic should explain himself first before asking others to do so. He just wants some excuses to attack and for our renters to pile on and sing the songs.
 
I'm also illustrating the level of most TV discussion. It usually just all boils down to a childish "yes it is, no it isn't, yes it is, no it isn't," (since facts and reasons are ignored) with some of our more captious, bickering, narcissistic posters, such as yourself, desperate to get in the last word before the topic's closed--and finally it all ends with "your mama wears Army boots."
 
This topic about the property show, with the forum hot button word condominium right there in the ad, lends itself perfectly to the usual exchange of such silly hot air--mostly from the choir of renters--on the recurring beloved feelings-based topics of CONDO GLUT, CONDOS OVERPRICED, HATE CONDOS, and DONTBUYREALESTATE--some your favorite areas of "expertise," so go to it, man! That show's still going on.
 
Cheers!

Edited January 12, 2014 by JSixpack

[midas]

 

He's behind you!

Oh no he isn't!

 
I figure the poster raising the topic should explain himself first before asking others to do so. He just wants some excuses to attack and for our renters to pile on and sing the songs.
 
I'm also illustrating the level of most TV discussion. It usually just all boils down to a childish "yes it is, no it isn't, yes it is, no it isn't," (since facts and reasons are ignored) with some of our more captious, bickering, narcissistic posters, such as yourself, desperate to get in the last word before the topic's closed--and finally it all ends with "your mama wears Army boots."
 
This topic about the property show, with the forum hot button word condominium right there in the ad, lends itself perfectly to the usual exchange of such silly hot air--mostly from the choir of renters--on the recurring beloved feelings-based topics of CONDO GLUT, CONDOS OVERPRICED, HATE CONDOS, and DONTBUYREALESTATE--some your favorite areas of "expertise," so go to it, man! That show's still going on.
 
Cheers!

 

 

 

 Well I do hope you feel better after that little rant?

 

The problem you property bulls have is you are unable to overcome the economic facts that the end of the global debt Ponzi is rapidly approaching and the last thing you would want when that happens is to be saddled with an albatross in the form of a condominium?

Edited January 12, 2014 by midas

[JSixpack]

Well I do hope you feel better after that little rant?

I did. KittenKong's feathers are some of most fun to ruffle because he's just SO pleased with himself.
 

The problem you property bulls have

Whoops! I'm not a property bull, pal. But, though you may live in a simple binary universe, that doesn't mean I'm a bear either. My views, FWTW, have been aired elsewhere. I'm not repeating here for you.

Dam_n. Straw man argument all shot down!
 

is you are unable to overcome the economic facts that the end of the global debt Ponzi is rapidly approaching and the last thing you would want when that happens is to be saddled with an albatross in the form of a condominium?[/size][/font]

"Facts?" Have you learned nothing from years of being a punching bag over in the investment forum?

And then there's, well, logic.

Best to continue over there the usual paranoid babbling about the sky falling. You're missed.

Next!

Edited January 12, 2014 by JSixpack

[midas]

 

Whoops! I'm not a property bull, pal. But, though you may live in a simple binary universe, that doesn't mean I'm a bear either. My views, FWTW, have been aired elsewhere. I'm not repeating here for you.

Dam_n. Straw man argument all shot down!
 

 

 

So  do you agree  with Forbes business magazine?

 

 

Credit and property bubbles go hand-in-hand, and Thailand’s current bubble economy is no exception in this regard. Thailand’s property bubble is most acute in the condo market, the predominant type of dwelling that most of Bangkok’s residents live in, and is the primary asset of choice for foreign speculators, many of whom hail from Singapore and Hong Kong (which are experiencing bubbles of their own, as I will soon report). According to Bank of Thailand statistics, condo prices soared by 9.39 percent, while townhouses prices rose by 6.86 percent in Q1 2013, after rising by similar amounts for the past several years. Total transactions by value, including both land and buildings, surged 35.3 percent in Q1 2013 as total outstanding property credits rose by 13.3 percent. Particularly worrisome is the fact that the majority of new mortgages originated are concentrated at the lower end of the Thai housing market. Bank of Thailand cautioned that cheap home loans could cause a bubble in the country’s property market. Thai condos are reportedly being advertised aggressively across all mediums, including pamphlets and text messages.

 

 

 

http://www.forbes.com/sites/jessecolombo/2013/11/04/thailands-bubble-economy-is-heading-for-a-1997-style-crash/3/

 

Edited January 12, 2014 by midas

[mrfaroukh]

 

Once I was in one of the expats club. They were talking about availability of 45000 unsold property, 300 000 more under construction, most of those sold are not even inhibited. I wonder who is going to buy all these properties with new political problems, moving of expats from Thailand to cheaper places like Philippines, Cambodia etc. Is there a big bobble in property coming up???

 

Perhaps Thai people looking for an escape from the heat and troubles of Bangkok.

Many Russians are buying places to stay in Pattaya area.

Expats are not the main market..... soon to be Expats perhaps.

They are building huge places further and further to the South since Jomtiem 2nd Rd has opened it up more.

Over supply doesn't seem to be a consideration yet.
 

 

To drink milk you don't have to buy the whole cow. If Thai people from Bangkok would like to get away from the heat, they don't need to buy a condo. The rent a place for couple of days. 

[mrfaroukh]

I think many BKK Thais, Russians, Chinese and others from the Region buys condos here as a holiday home.

 

I am no expert but doubt the bubble will burst,why should it?

 

It's a bit worrying with all this building going on, the infrastructure of Pattaya is not up to the task. 

 

Around my village in north pattaya near BKK/Patt hospital, condos/town houses/ small hotels have been build over the last 2 years and land prices have gone though the roof.

 

Even on the dark side are there being build condos/town houses big time so it's all over the place so the people building them must be very confident they can sell them.

 

If you are on the market for a condo be very careful, location, location, location still rules and you should spend a long time checking/looking before committing yourself and make sure you get it to the right price or you loose big time. 

 

One last word: My house was not bought as an investment as such but but more like a nice place for my family to live. When you own your own place you can decorate as you want, buy top off the shelf hardware/TVs and so on. It's also nice to know that only your family have been using the bed and not some strangers. In other words, I want to hang my coat in my own place and not in something that don't belong to me, at last not in the long term.

 

​No I am not in the real estate business but only air my opinion.  

 

Yes you may be a winner if you really plan to live in Pattaya. Why to pay rent when you can own your own home. But you should be very sure that you want to live there for at least 10 years. But the problem is that many people including myself when we visit the place we love it and quickly think of buying a holiday home. But do you really think all those who bought a holiday home there , would come every year to spend their holiday there only. I would like to visit different places every time. My point was if you buying a condo there just for investment sake then it is not a good idea. With so many properties available you may not even be able to rent out your condo more than few months a year. Of course if in a prime location then you have better chances.

[guzzi850m2]

 

Yes you may be a winner if you really plan to live in Pattaya. Why to pay rent when you can own your own home. But you should be very sure that you want to live there for at least 10 years. But the problem is that many people including myself when we visit the place we love it and quickly think of buying a holiday home. But do you really think all those who bought a holiday home there , would come every year to spend their holiday there only. I would like to visit different places every time. My point was if you buying a condo there just for investment sake then it is not a good idea. With so many properties available you may not even be able to rent out your condo more than few months a year. Of course if in a prime location then you have better chances.

 

 

Well it all depends of how much holiday you have per year and off-course money.

 

I know for a fact that many BKK Thais buy both houses and condos in the greater Pattaya area but they live near by.

 

Also many Russians buy studios here, so every chance they have, they come here for some sun and and a sandy beach. 

 

When we go on holidays, we go to either Koh Chang, Chang Mai or Bangkok, Pattaya is our home base for many good reasons.

 

Yes I agree that buying a condo as an investment in Pattaya is really risky business unless you are an expert and have connections and can buy the condos everybody wants and to the right price.   

[Asiantravel]

 

 

Once I was in one of the expats club. They were talking about availability of 45000 unsold property, 300 000 more under construction, most of those sold are not even inhibited. I wonder who is going to buy all these properties with new political problems, moving of expats from Thailand to cheaper places like Philippines, Cambodia etc. Is there a big bobble in property coming up???

 

Perhaps Thai people looking for an escape from the heat and troubles of Bangkok.

Many Russians are buying places to stay in Pattaya area.

Expats are not the main market..... soon to be Expats perhaps.

They are building huge places further and further to the South since Jomtiem 2nd Rd has opened it up more.

Over supply doesn't seem to be a consideration yet.
 

 

To drink milk you don't have to buy the whole cow. If Thai people from Bangkok would like to get away from the heat, they don't need to buy a condo. The rent a place for couple of days. 

 

 

Yes and then they can just leave when the water supply runs out

 

 

http://www.thaivisa.com/forum/topic/682961-no-water-thepprasit-soi-8/

 

[rgs2001uk]

 

 

Once I was in one of the expats club. They were talking about availability of 45000 unsold property, 300 000 more under construction, most of those sold are not even inhibited. I wonder who is going to buy all these properties with new political problems, moving of expats from Thailand to cheaper places like Philippines, Cambodia etc. Is there a big bobble in property coming up???

 

Perhaps Thai people looking for an escape from the heat and troubles of Bangkok.

Many Russians are buying places to stay in Pattaya area.

Expats are not the main market..... soon to be Expats perhaps.

They are building huge places further and further to the South since Jomtiem 2nd Rd has opened it up more.

Over supply doesn't seem to be a consideration yet.
 

 

To drink milk you don't have to buy the whole cow. If Thai people from Bangkok would like to get away from the heat, they don't need to buy a condo. The rent a place for couple of days. 

 

 

Not so far from the truth.

Most of the Bkk Thais I know of choose either Rayong or Bang Saen to buy.

Just compare prices in both the above places compared with Pattaya.

Check out Bang Saen on a weekend to see it full of Bkk Thais.

 

 

[KittenKong]

Well I do hope you feel better after that little rant?

I did. KittenKong's feathers are some of most fun to ruffle because he's just SO pleased with himself.

The funny part is that apparently you really believe that I give a hoot about what you write! There's just no accounting for delusions of self-importance, I suppose.

Nothing ever posted on this or any internet forum has even come close to ruffling my feathers, nor do I expect anyone else to be at all concerned about anything I might write. But maybe you have much thinner skin than I do.

[rainwater]

there's an ole Farang saying in Thailand; "easy to buy property, hard to sell" ... I don't think anyone with knowledge of the property business would disagree that we're in a bubble, the only question is (if you speculate on property now) how soon will the bubble burst...

 

I am tempted to put some money to work on a pre construction project and try to resell high season (as I'm desperate for income after losing my job several years ago and I had a lot of medical bills), but I think we're too close to the top and may see a major decline soon. Even the Chinese are getting worried: http://www.cbsnews.com/videos/chinas-real-estate-bubble/