Condo Investments in Central Pattaya

[manccm]

Have just returned home to Chiangmai after a few days spent checking out possible condo purchases in Central Pattaya.

The three blocks of particular interest were all very close to each other, namely, The Avenue, City Garden and Urban Suites. I also looked at the Markland but to be honest it does look a little "tired" if not exactly run down.

I am hoping that some local residents in Pattaya can give me their opinions, good and bad about these particular locations.

Had also considered Phuket but feel that money does go further here in Pattaya.

Alternatively someone may come up with something a simple soul such as I may never even have considered.

[kimchibob]

I own a condo in City Garden. Good location, good security, and well maintained. Not great views though. I lived in Markland for one year. Ocean view was fantastic, but the building is getting a bit rundown.

[veleron]

Heard that the rental rate is high and vacancy rate is low in this area. But that's what's I heard from brokers and sales people. Anyone can provide unbiased and constructive opinion on condo investment in this area?

[loppylugs1]

Heard that the rental rate is high and vacancy rate is low in this area. But that's what's I heard from brokers and sales people. Anyone can provide unbiased and constructive opinion on condo investment in this area?

Biased ? might be ,but I would say a darn right lie. Went to look-see just after one of these built,owner desperate to get rid,knew he had made mistake,think he may have topped himself by now.

[Basil B]

Heard that the rental rate is high and vacancy rate is low in this area. But that's what's I heard from brokers and sales people. Anyone can provide unbiased and constructive opinion on condo investment in this area?

Biased ? might be ,but I would say a darn right lie. Went to look-see just after one of these built,owner desperate to get rid,knew he had made mistake,think he may have topped himself by now.

Rental rates are too low, lot easier to invest elsewhere with better returns and less the risk.

[konying]

Avenue and Urban always for sale and rent and always a few available .

Not a good sign in my experience .

City Gatden still has not sold all the units, again not a good sign, but not many are up for rent or advertising ,

In my opinion, buy whatever is cheap to rent , because no shortage of people wanting cheap rooms

[KittenKong]

There are many other similar developments going up in that area, plus a high-rise or two not far away. Hard to imagine where all the tenants will come from.

[chris2004]

I considered those projects before i bought my condo but thought they were expensive for a non beach side location. Great though if you like the bars on Soi Buakhau.

[loppylugs1]

Reports of company ownership for property of foreigners in Thailand being confiscated,something that wants avoiding now like the plague ,personally as a long term foreigner living in Thailand ,it looks like bag packing time has finally arrived

[KittenKong]

Reports of company ownership for property of foreigners in Thailand being confiscated,something that wants avoiding now like the plague ,personally as a long term foreigner living in Thailand ,it looks like bag packing time has finally arrived

I see no reason (so far) for condo-owning retirees to be packing their bags. Nor those who rent.

As an extension to this I see no reason why obstacles would ever be put in the way of retirees who want to live here. It's all good easy money for the Thai economy, with no obvious downside (assuming they weed out the retirees who cant afford basic health care etc).

[loppylugs1]

Reports of company ownership for property of foreigners in Thailand being confiscated,something that wants avoiding now like the plague ,personally as a long term foreigner living in Thailand ,it looks like bag packing time has finally arrived

I see no reason (so far) for condo-owning retirees to be packing their bags. Nor those who rent.

As an extension to this I see no reason why obstacles would ever be put in the way of retirees who want to live here. It's all good easy money for the Thai economy, with no obvious downside (assuming they weed out the retirees who cant afford basic health care etc).

You see no reason? It is their country they want it back. More of a direct focus now I would suggest from the new government. Thought it was pretty obvious the older farang gets the more health care is required and no medical insurance available,and for sure medical care in Thailand costs.

As one who was kicked out of a nearby country for the reasons given with house ownership,the writing was always on the wall,just surprised it took so long

[ThaiBob]

Reports of company ownership for property of foreigners in Thailand being confiscated,something that wants avoiding now like the plague ,personally as a long term foreigner living in Thailand ,it looks like bag packing time has finally arrived

Which reports are these? Please post or reference links.

[ThaiBob]

Cannot speak for the other projects but a friend has no problem renting his City Garden condo. He uses the building management company, the renter paid 1 year upfront on his new lease(21k/mo).

Edited August 22, 2014 by ThaiBob

[loppylugs1]

Reports of company ownership for property of foreigners in Thailand being confiscated,something that wants avoiding now like the plague ,personally as a long term foreigner living in Thailand ,it looks like bag packing time has finally arrived

Which reports are these? Please post or reference links.

Top of page Pattaya news clippings

[Rimmer]

Please stay on topic if you want to discuss content in news clippings please do in there, thank you.

[ThaiBob]

Reports of company ownership for property of foreigners in Thailand being confiscated,something that wants avoiding now like the plague ,personally as a long term foreigner living in Thailand ,it looks like bag packing time has finally arrived

Which reports are these? Please post or reference links.

Top of page Pattaya news clippings

Thank you for the clipping info and as the Moderator says it is not on topic as it pertains to the Foreign Business Act.

[manccm]

Thankyou all for your valued comments and opinions . I had not seriously considered "budget" end small condos to purchase and rent out.My thinking was that the central convenient location in a relatively new attractive development would easily attract sufficient long term residents for it to be viable , as in fact is the case with the condos in which I have an interest in Chiangmai.However when in Rome et cetera.

It may be as others on here have suggested ,that the largest renting demographic are those renters paying circa 10,000 baht or thereabouts a month which obviously precludes living in the locations I have previously mentioned . Such information would make very interesting and useful reading to individuals and companies such as I but I don't imagine that is freely available if at all in Thailand.

Thankyou all three times :-)

[BruceMangosteen]

(assuming they weed out the retirees who cant afford basic health care etc).

They try that, but it doesn't work. Denial of said health care is the only answer, contact their embassy and send them away.

That area, behind Avenues Mall, is great and reasonable. I don't know of specific buildings but if you get a unit in your name vs. listening to a sales agent say it doesn't matter, all should be fine. Forming or taking over a "company" to buy a condo is risky and nothing but a sales pitch by the real estate agents.

[johnmarhall]

my g/f is looking at condos now see what she deceides

[loppylugs1]

(assuming they weed out the retirees who cant afford basic health care etc).

They try that, but it doesn't work. Denial of said health care is the only answer, contact their embassy and send them away.

That area, behind Avenues Mall, is great and reasonable. I don't know of specific buildings but if you get a unit in your name vs. listening to a sales agent say it doesn't matter, all should be fine. Forming or taking over a "company" to buy a condo is risky and nothing but a sales pitch by the real estate agents.

What was it,last year,the year before?,the place was barely functioning with flooding,knocked the transformers out for a couple of months

[BruceMangosteen]

What was it,last year,the year before?,the place was barely functioning with flooding,knocked the transformers out for a couple of months

Where do you refer they were without power for a "couple of months"?

[loppylugs1]

What was it,last year,the year before?,the place was barely functioning with flooding,knocked the transformers out for a couple of months

Where do you refer they were without power for a "couple of months"?

In post#20 go along have a word with anybody there. tranformers were sat outside for one hell of a time. Think the first 8 floors were effected at least

[JSixpack]

What was it,last year,the year before?,the place was barely functioning with flooding,knocked the transformers out for a couple of months

Where do you refer they were without power for a "couple of months"?

In post#20 go along have a word with anybody there. tranformers were sat outside for one hell of a time. Think the first 8 floors were effected at least

Of one building fronting Soi Buakhao. Several years ago during about the worst flooding in memory. Think the development was The Avenue. I would imagine that the danger has been fixed, but if one is buying there, it would be something to check out.

[bartender100]

Have you considered renting in one of these buildings for 6 months first? I live in Pratumnak which is 10 minutes from central Pattaya (on a good day) but so much more quieter at night, my window are hardly ever closed, plenty of fresh air. I doubt you could do that in those locations

[Mooner]

My friend owns a condo on Ko Samet. 10% return in the first year. They are also offering 10% return in their new project. PM me for details.

[Bazle]

I have a condo in City Garden - bought off plan. It is a great location for someone like me who relies on Baht buses and his own two feet to get around.

The development seems to be well managed. My only complaint is the same one as I could have anywhere: I don't always have considerate neighbours.

It certainly has never been flooded. I think it was two years ago that The Avenue was flooded - the whole underground car park - and (some?) people had to move out for a few weeks.

I guess I am prejudiced but I think the properties in Soi 15 are great value for money considering their location.