Do you want to buy a condominium in Pattaya?

[Colliers]

Do you want to buy a condominium in Pattaya, but are confused by the sheer number of new projects being advertised? Certain parts of the city are becoming seriously oversupplied and infrastucture is a problem in many areas, so it pays to take good advice from a reputable agent, rather than a developer who will only sell you what they want to sell you and tell you what you want to hear.

Colliers International are the multi-award winning agency based in Pattaya who have won the Thailand Property Awards on 3 consecutive occasions as Best Agent (Eastern Seaboard). We carefully compile a Pattaya Condominium Report bi-annually, which informs you of the good, the bad and the downright ugly within the property market.

We've also prepared the Buyers Guide to Condominium Projects, which has proved invaluable to many unititiated buyers entering the Pattaya property market for the first time. Anyone considering buying a condominium should carefully read both of the documents below and contact our office on [email protected] for further information.

Buyers Guide to Condominium Projects - Pattaya.pdf

Pattaya City Condominium Market Report _H2 2013.pdf

[alfalfa19]

No.

[PattayaPhom]

Not a single mention of resale condos. Lots of figures without any particular attention to specific developments old or new. Problems are already surfacing with buyers realising that their 24 sqm shoebox is unsalable and almost impossible to rent. A decent sized unit in a good location realistically priced will sell 10 times over...anything else sits on the market for years.

[onlycw]

At my condo, the Thai management has been unable to collect HOA fees from about 20% of the owners. some owe more than 600,000 Baht!

Guess what? someone else has to pay for these freeloaders. check out the default rate at your condo before you buy!

Edited March 22, 2014 by metisdead
Oversize font reset to normal.

[JesseFrank]

Colliers International are the multi-award winning agency based in Pattaya who have won the Thailand Property Awards on 3 consecutive occasions as Best Agent (Eastern Seaboard).

Had a look at that Thailand Property Awards event. Nice closed group isn't it ?

[colin2]

Pattaya is old perv city. Why are they building more Condo's than they have pervs to sell them to?. As for resell, I wouldn't want an old pervs old condo.

[PattayaPhom]

Pattaya is old perv city. Why are they building more Condo's than they have pervs to sell them to?. As for resell, I wouldn't want an old pervs old condo.

21st Century now, many young couples visit Pattaya and the surrounds

[Asiantravel]

" The Russian market continued its resilience during the second half of the year and it appears that they are less affected by global economic problems than other nations "

not quite sure whether this is an already redundant observation until we know conclusively there will not be a damaging trade war between Russia and the West?

And if this is Russian market starts to dry up, I question who would be the end buyers of all these condominiums?

Edited March 22, 2014 by Asiantravel

[sms747]

Anywhere in the country before Pattaya, thanks for asking though.

[Asiantravel]

Anywhere in the country before Pattaya, thanks for asking though.

oh that is mean

[noodle]

In some western countries one can be lodged for free in similar cages, well at the lower end anyway.

[Colliers]

Not a single mention of resale condos. Lots of figures without any particular attention to specific developments old or new. Problems are already surfacing with buyers realising that their 24 sqm shoebox is unsalable and almost impossible to rent. A decent sized unit in a good location realistically priced will sell 10 times over...anything else sits on the market for years.

You are completely correct with your observations, if buyers would like to speak with us regarding specific projects or existing buildings they are most welcome to. Since the report is produced every six months it would be a full time job for a team of people to monitor every single project and completed development in Pattaya, quite frankly we're the only agency in Pattaya who goes this far at providing information. We possess the raw data from the land office, which is condensed for the purposes of the report.

Figures quoted in the condominium report reflect on existing supply and new supply being added to it. Top tips in the Buyers Guide informs people of the potential difficulties in buying a 24sq.m shoe box, this is quite clear if you read it. Most agents won't start their car to rent or resell such a unit.

[Colliers]

At my condo, the Thai management has been unable to collect HOA fees from about 20% of the owners. some owe more than 600,000 Baht!

Guess what? someone else has to pay for these freeloaders. check out the default rate at your condo before you buy!

A good point, which is why we always suggest taking legal advice to carry out due dilligence before buying anything. Unfortunately too many people on a budget try to cut corners when buying property and don't engage a lawyer, which can result in problems later.

[Colliers]

Colliers International are the multi-award winning agency based in Pattaya who have won the Thailand Property Awards on 3 consecutive occasions as Best Agent (Eastern Seaboard).

Had a look at that Thailand Property Awards event. Nice closed group isn't it ?

Actually it's an open event and anyone may join the gala dinner if they buy tickets from the event Organiser - Ensign Media, who are responsible from Property Report magazine.

You may also nominate by following this link:

[Colliers]

" The Russian market continued its resilience during the second half of the year and it appears that they are less affected by global economic problems than other nations "

not quite sure whether this is an already redundant observation until we know conclusively there will not be a damaging trade war between Russia and the West?

And if this is Russian market starts to dry up, I question who would be the end buyers of all these condominiums?

The report is dated H2 2013 and at that time the Russian Federation hadn't annexed Crimea...

The report H1 2014 will no doubt mention this, if indeed it affects the spending power of Russia, bearing in mind Russians don't necessarily keep their money in Russian banks.

The Chinese market is starting to grow and we believe this market will eventually overtake the Russian market.

Having said that the largest demographic of buyers in Pattaya are still the growing middle class Thais.

[bkkjames]

" The Russian market continued its resilience during the second half of the year and it appears that they are less affected by global economic problems than other nations "

not quite sure whether this is an already redundant observation until we know conclusively there will not be a damaging trade war between Russia and the West?

And if this is Russian market starts to dry up, I question who would be the end buyers of all these condominiums?

The report is dated H2 2013 and at that time the Russian Federation hadn't annexed Crimea...

The report H1 2014 will no doubt mention this, if indeed it affects the spending power of Russia, bearing in mind Russians don't necessarily keep their money in Russian banks.

The Chinese market is starting to grow and we believe this market will eventually overtake the Russian market.

Having said that the largest demographic of buyers in Pattaya are still the growing middle class Thais.

Agree about the last two points. The Thais I think prefer to buy from big name Thai developers for the most part.

[Colliers]

" The Russian market continued its resilience during the second half of the year and it appears that they are less affected by global economic problems than other nations "

not quite sure whether this is an already redundant observation until we know conclusively there will not be a damaging trade war between Russia and the West?

And if this is Russian market starts to dry up, I question who would be the end buyers of all these condominiums?

The report is dated H2 2013 and at that time the Russian Federation hadn't annexed Crimea...

The report H1 2014 will no doubt mention this, if indeed it affects the spending power of Russia, bearing in mind Russians don't necessarily keep their money in Russian banks.

The Chinese market is starting to grow and we believe this market will eventually overtake the Russian market.

Having said that the largest demographic of buyers in Pattaya are still the growing middle class Thais.

Agree about the last two points. The Thais I think prefer to buy from big name Thai developers for the most part.

Agreed, you are correct, though they do also buy from well established foreign developers with a solid track record but not on the same scale as they do from the listed developers. Many just buy for investment in projects such as the Base by Sansiri which consists of over 1,100 units and sold out within a week, now many of the units are listed for resale at their sales office.

[topt]

Not a single mention of resale condos. Lots of figures without any particular attention to specific developments old or new. Problems are already surfacing with buyers realising that their 24 sqm shoebox is unsalable and almost impossible to rent. A decent sized unit in a good location realistically priced will sell 10 times over...anything else sits on the market for years.

You are completely correct with your observations, if buyers would like to speak with us regarding specific projects or existing buildings they are most welcome to. Since the report is produced every six months it would be a full time job for a team of people to monitor every single project and completed development in Pattaya, quite frankly we're the only agency in Pattaya who goes this far at providing information. We possess the raw data from the land office, which is condensed for the purposes of the report.

Figures quoted in the condominium report reflect on existing supply and new supply being added to it. Top tips in the Buyers Guide informs people of the potential difficulties in buying a 24sq.m shoe box, this is quite clear if you read it. Most agents won't start their car to rent or resell such a unit.

Hi OP I was interested in your statement "We possess the raw data from the land office" - can anybody get hold of this and for specific properties/villages or only for new condos?

[robertthebruce]

Pattaya is old perv city. Why are they building more Condo's than they have pervs to sell them to?. As for resell, I wouldn't want an old pervs old condo.

21st Century now, many young couples visit Pattaya and the surrounds

Do they, i've never seen them....

Pattaya will always be what it is... impossible to shake its ''Good Name''

[Colliers]

Not a single mention of resale condos. Lots of figures without any particular attention to specific developments old or new. Problems are already surfacing with buyers realising that their 24 sqm shoebox is unsalable and almost impossible to rent. A decent sized unit in a good location realistically priced will sell 10 times over...anything else sits on the market for years.

You are completely correct with your observations, if buyers would like to speak with us regarding specific projects or existing buildings they are most welcome to. Since the report is produced every six months it would be a full time job for a team of people to monitor every single project and completed development in Pattaya, quite frankly we're the only agency in Pattaya who goes this far at providing information. We possess the raw data from the land office, which is condensed for the purposes of the report.

Figures quoted in the condominium report reflect on existing supply and new supply being added to it. Top tips in the Buyers Guide informs people of the potential difficulties in buying a 24sq.m shoe box, this is quite clear if you read it. Most agents won't start their car to rent or resell such a unit.

Hi OP I was interested in your statement "We possess the raw data from the land office" - can anybody get hold of this and for specific properties/villages or only for new condos?

Like anything in Thailand it does help if you have connections, but with effort and pererverance you may get somewhere.

We obtain information on the number of condominium transfers each six months and historical prices paid in each location Wong Amat, Pattaya City, Jomtien and Pratumnak (Not developers prices)

[Colliers]

Pattaya is old perv city. Why are they building more Condo's than they have pervs to sell them to?. As for resell, I wouldn't want an old pervs old condo.

21st Century now, many young couples visit Pattaya and the surrounds

Do they, i've never seen them....

Pattaya will always be what it is... impossible to shake its ''Good Name''

Pattaya is no different to Bangkok with regards to sex industry, there are probably more sex workers in Bangkok being a larger city and it's just spread out more and also caters for Thais not just foreigners. You can even find sex tourism on Phuket, Samui and Hua Hin without looking very hard if you're that way inclined. Like anything in life, if you go looking for it, you can generally find it. Unless you're a real pervert intent on looking for depravity constantly, it's quite easy to get around Pattaya without being acosted and suitable for your grandmother's enjoyment.

In addition with land between Beach Road and Second Road selling for between 100m-150m per rai, do you really think the humble bar beer days are guaranteed for long? As an example 18 Rai of land near the Hard Rock hotel was recently sold for THB 2.7 Billion.

It's all about economics, how can a piece of land worth $5,000,000 with a handful of beer bars on it make good business sense in terms of rental income? Obviously it can't and the city is evolving on a weekly basis, anyone but Stevie Wonder can see the transformation with new hotels and condominiums being built all over the city where beer bars used to be, in addition new shopping malls such as MBK will also be appearing where beer bars used to be, this is how Pattaya is changing.

[jbaldwin]

At my condo, the Thai management has been unable to collect HOA fees from about 20% of the owners. some owe more than 600,000 Baht!

Guess what? someone else has to pay for these freeloaders. check out the default rate at your condo before you buy!

I live in Thabali a 10 year old condo development with 144 units in Jomtien. We have received 100% of condo fees for 2013 and all previous years and have received about 95% of 2013 fees - a 15% discount was given to owners paying 2014 fees in full by the end of December 2013.