Pattaya Condo Market: A Play for Thai Buyers?

[Zao]

Is there possibly a play for Thai buyers in Pattaya's condo market?

What I mean to say is, with the 49% foreign quota selling out more quickly and Thai demand in Pattaya more modest, can Thai buyers get an equivalent unit at a discount? About how long do Thai quota units remain unsold before serious discounting kicks in, if ever?

One could arguably consider taking the Heinecke route and become a naturalized Thai citizen. I'm kidding about that, though for some it arguably could be attractive. But the above question is serious, if anyone has a thought.

Thanks!

[KittenKong]

Most buildings (not all) have practised dual-pricing for years with Thai-name and company-name units being cheaper. They quite simply have two price lists with the Thai one showing perhaps 10% or so off. It is also well known that further discounts are easier to achieve on Thai- or company-owed sales.

Purchases made using Farang money drive the Pattaya condo market.

Edited January 12, 2014 by KittenKong

[davejones]

I've seen many condo building where some condos are unsold for years but still go up in price every year. They don't seem to discount to get rid of the final few condos as they would in many Western countries. Units can stay empty and unsold forever I assume. I've seen some very old condos with units still for sale.

[Zao]

Thanks, guys. I appreciate your help.

[ezzra]

I've seen many condo building where some condos are unsold for years but still go up in price every year. They don't seem to discount to get rid of the final few condos as they would in many Western countries. Units can stay empty and unsold forever I assume. I've seen some very old condos with units still for sale.

My observation regarding the remaining unsold units are that not only they don't drop

the price for a quick sale of what are obviously the least attractive unit/s left in

the project, they actually jack the price up for some reason, have a marketing idea

that this is what it needs to get rid of left over units, unbelievable,

[PattayaPhom]

Russians dont mind buying condos through a company, dont think 51% go unsold.

[Delight]

Russians dont mind buying condos through a company, dont think 51% go unsold.

In the condo where I live a Russian man ,apparently working alone, negotiated to buy 5 condos. A 25% discount was achieved-I have seen the contracts.

Turns out these 5 Russians did not know each other prior to the deal.

The condo was almost finished when they bought.

This suggests that they know how to buy.