Carribean condo won't be finished ? Look like no work progress ? Any discount ?

[manarak]

Defiantly going to be finished, slowly changing color to white on the outside.

I do fear for the the Tulip at the bottom of Pratumnak 5, absolutely nothing going on there , or the Sands further down, my friend looked around the showroom 2 years ago and was told 2016 finish, no chance of that, I don't think even the flash showroom is still open

I guess a lot of condos will not be completed or maybe only partially completed because of less russian buyers.

[shirtless]

I think the market will dip its way oversupplied and long term expats seem to be leaving ,

[mascarabertha]

You seem to have answered your own question. No matter how contrarian the replies are, you fall back on "there is an abundance of condos so i should be able to negotiate" are you waiting for someone to validate your thinking????

[loppylugs1]

After that finest of fine condos Suan Suwarm took a dive a few years ago it was definably a pointer to the future,face it all condos being built in Pattaya are absolute crap,try selling anything now,buy to the hearts content though.

Not far off massive projects started a while ago,started to slow after the initial burst of activity now just a holding exercise,never get completed. Better places I suspect that people have found out about to toss their hat into

First of a few flights for me too into Portugal soon,go look see the adobes on offer

[gk10002000]

So where does all the waste water and sewage go? Is there a treatment plant anywhere nearby? And where is the incoming fresh water going to come from? I have not heard great things about Pattaya's water supply. I can envision a nightmare of buying a place but having absolutely no guarantee of good water coming in, and few recourses to suing or getting recompensed. One could be stuck with a horrible investment

[thailandforumaddict]

Discount ? I think it's in foreigners dreams only !

I failed to find any post about someone who got a discount on this forum and on Google.

Please help me ? Tell me that you bought for 1 million a condo that was sold 2 millions ?

[KittenKong]

Plenty of condos get sold at a big discount, but they are generally re-sales from people who need to sell promptly.

High prices in Pattaya are largely maintained because most sellers dont need to sell and so are not keen to drop prices.

Another thing that keeps visible prices high are the agents who add on very large commissions, though of course this doesnt translate into high prices in the pocket of the seller. I was made aware the other day of someone who paid 2.2MB for a unit, of which the seller only got 1.8MB

[bartender100]

So where does all the waste water and sewage go? Is there a treatment plant anywhere nearby? And where is the incoming fresh water going to come from? I have not heard great things about Pattaya's water supply. I can envision a nightmare of buying a place but having absolutely no guarantee of good water coming in, and few recourses to suing or getting recompensed. One could be stuck with a horrible investment

Makes me wonder too, a place this size is like a small town on its own, more strain on the already weak internet also

[fredob43]

Plenty of condos get sold at a big discount, but they are generally re-sales from people who need to sell promptly.

High prices in Pattaya are largely maintained because most sellers dont need to sell and so are not keen to drop prices.

Another thing that keeps visible prices high are the agents who add on very large commissions, though of course this doesnt translate into high prices in the pocket of the seller. I was made aware the other day of someone who paid 2.2MB for a unit, of which the seller only got 1.8MB

Good article in the BKK post today in their market place supplement. About the sale of Condos in Pattaya.

Seems that lots of Russians bought same some time ago, now back on the market trying to recoup their losses.

The new ones that were being built aimed at that market are now on a go slow.

Regard re-sales have a friend who has had a condo in good building for some years, he paid just over 3.5ml has been on the market for over two years has reduced the price several times right down to 2.3ml not had one interested party even take a look. Now taken it off and decided to rent.

How to loose money without trying, no not buy a bar a condo.

[Pattaya46]

Seems that lots of Russians bought same some time ago, now back on the market trying to recoup their losses.

What loss? When the ruble felt to 50%, the value of their Pattaya condo doubled in ruble.

BTW the ruble is coming back strong: +30% in last 3 months.

Russian begin to come back already. Promoters will be happy soon.

How to loose money without trying, no not buy // a condo.

Do not buy the very common type of unit that you find in all condos, but if you buy a large one, one from higher floors, or one with a nice sea view, you will not have real problem to sell it.

[fredob43]

Seems that lots of Russians bought same some time ago, now back on the market trying to recoup their losses.

What loss? When the ruble felt to 50%, the value of their Pattaya condo doubled in ruble.

BTW the ruble is coming back strong: +30% in last 3 months.

Russian begin to come back already. Promoters will be happy soon.

How to loose money without trying, no not buy // a condo.

Do not buy the very common type of unit that you find in all condos, but if you buy a large one, one from higher floors, or one with a nice sea view, you will not have real problem to sell it.

I just quoted what was in the Real estate review in BKK Post. They also go on to say that property in Hua Hin and other places are selling well. Seems Pattaya is the only place feeling the crunch.

I see you missed out the bit in my post where a friend cant sell his large Condo unless he takes a huge loss. It's on the 16th floor great sea views via two balconies.

Granite Kitchen, top rate bathroom Double Jacuzzi bath, Ditto walk in shower.

It seem that no one wants second hand when they can buy new.

Your not an estate agent by any chance, or even someone selling their condo and trying to talk up the price.

[ThaiBob]

There are sea views and then there are sea views. There is a big difference between a sea view at VT2A when compared to VT5C for example. I do not know anyone who has lost money in either of these buildings either; now homes is another story as I know farangs who came out on the short end of the stick even before the recent downturn. My experience is, if one has a highly desirable condo it will sell near the asking price but may take a little longer but if a seller has one of these cheap made for investment condos, they will have a major headache if they hope for a quick sale.

[fredob43]

There are sea views and then there are sea views. There is a big difference between a sea view at VT2A when compared to VT5C for example. I do not know anyone who has lost money in either of these buildings either; now homes is another story as I know farangs who came out on the short end of the stick even before the recent downturn. My experience is, if one has a highly desirable condo it will sell near the asking price but may take a little longer but if a seller has one of these cheap made for investment condos, they will have a major headache if they hope for a quick sale.

Don't want to get into a slanging match over what your personal taste in views are. But his one is on the top of Pratumnak Hill uninterrupted views all over Sea/Pattaya from one balcony, the other towards the sea how good do you want it.

There was a thing that put me off though the lifts had glass backs ok if your not afraid of highs.

What ever it's now off the market as being rented.

[KittenKong]

Seems that lots of Russians bought same some time ago, now back on the market trying to recoup their losses.

What loss? When the ruble felt to 50%, the value of their Pattaya condo doubled in ruble.

That may be the case for those who have already paid for their unit, but what about those who are now having to pay for a unit that they contracted to buy off-plan a year or two ago when the Ruble was worth double?

And even for those who bought a few years ago, the drop in value of the Ruble since then will make it much harder for them to sell on if they want to.

[Pattaya46]

I see you missed out the bit in my post where a friend cant sell his large Condo unless he takes a huge loss.

You didn't mentioned high floor and sea views in your previous post.

Now IMHO there is something wrong there,

because a large (?) condo, on Pratumnak Hill, with these uninterrupted views, and the description you gave,

at 2.3m I would have bought it.

How much did he rent it? (It could give a good idea of its price)

[fredob43]

I see you missed out the bit in my post where a friend cant sell his large Condo unless he takes a huge loss.

You didn't mentioned high floor and sea views in your previous post.

Now IMHO there is something wrong there,

because a large (?) condo, on Pratumnak Hill, with these uninterrupted views, and the description you gave,

at 2.3m I would have bought it.

How much did he rent it? (It could give a good idea of its price)

Sorry don't know what he rented it for not been in touch for some time. He's now living back in England due to family problems. Was one of the reasons he wanted to sell.

The last thing I want to do is stir up old problems.

The Condo was a two bedroom, one very large & 1 a bit smaller but even so was I thought a good buy, had all just been redecorated with all new fitments Kitchen, bath room, cream leather suite +++. As stated he never had 1 view.

I did think of buying same but the Thai wife wouldn't live there. Her first words once we left after her first and only visit 'some 20 minutes' was nice condo, I not go again, what if they have a fire. I Thai and cant fly.

[mascarabertha]

I would just drive around and look for construction projects that have ground to halt for a number of years. Find the developer make a lowball offer and hope that the project gets revived. Yup that's what I would do

[GaryB1263]

There is progress at Grand Caribbean in Jomtien. They have been getting a lot of painting done and I noticed yesterday they took one of the cranes down from the top. I can see the high rise and one or two of the lower buildings from my balcony. I have been watching for them to start closing up the floors on the high rise.

[toenail]

It seems a lot of members on this Pattaya forum are giving their opinions and I will give mine. I had read in one of the Pattaya real estate magazines (last year) that most of the buyers were Russians and then Thais. I have lived in four various condo complexes and though many of the apartments in my hallway are purchased, the managers always say that, "Oh, that one is purchased by a Thai who lives in Bangkok." Maybe you would see the owner appearing a couple times during the year but the purchase of condos by many Thais (wealthy Thais) use the ownership of a condo more for an investment since saving it in the bank doesn't do much. Since the value of the Russian ruble has fallen as low as 50% against the Baht, (going up a bit now) I wonder how many Russians did a down payment on a condo that wasn't built yet... and now they cannot make the monthly payments. NOTE: Though there is...and will be more newly unpurchased condos not bought on the market, the companies will not lower the price. (It has something to do with "saving face" ) The various development corp. would rather not sell at a lower price since to them it represents failure.

[AsianExport]

Sorry, do you think that they will finally finish them ? Carribean seems ok from outside but I wonder if they have started decoration ? and supalai mare ? thanks.

[AsianExport]

On 1/31/2015 at 9:20 AM, chris2004 said:

Their sign says finished Q1 2015.

 

 

A funny one ! we are in 2017 :-)

 

 

[AsianExport]

On 5/18/2015 at 2:41 AM, thailandforumaddict said:

I found this at Na jomtien but they haven't started yet :-)

http://www.fragrantgroup.com/sixthelement

 

 

Do you know if construction is now finished ?

 

 

[wpcoe]

12 hours ago, AsianExport said:

Sorry, do you think that they will finally finish them ? Carribean seems ok from outside but I wonder if they have started decoration ? and supalai mare ? thanks.

 

A casual acquaintance was talking about moving into his new condo on Thepprasit, and I think he meant Supalai Mare.  He recently confirmed a 09-Nov-2016 move-in date.

 

I also heard that some Chinese tour companies had bought a couple floors in Supalai Mare.  If true, "Danger, Will Robinson!"

[Asiang]

Grande carribean and supalai are now finished and people already are living there.

 

Anybody can comment the buildings quality ? At least they seem better than other condo recently built.

 

Thanks.

[craigt3365]

The big issue will be if they can maintain the property with many unsold units.  They need a high percentage of the units paying maintenance fees to do this. One building recently had power go out because they couldn't pay the electric bill!  Not good if you are on a floor higher than 2.

[Henryford]

6 hours ago, craigt3365 said:

The big issue will be if they can maintain the property with many unsold units.  They need a high percentage of the units paying maintenance fees to do this. One building recently had power go out because they couldn't pay the electric bill!  Not good if you are on a floor higher than 2.

 

Doesn't the developer pay common fees for unsold units, they do in my condo.

[mcfish]

Often what happens is crews wait for the next level of development, but that can at times take a month

Sent from my SC-01D using Tapatalk

[Sealbash]

Grande carribean and supalai are now finished and people already are living there.
 
Anybody can comment the buildings quality ? At least they seem better than other condo recently built.
 
Thanks.

Grande Carribean quality looks okay. Owners have one year from date of delivery to request warranty on any deficiencies noted. Deficiencies are corrected free of charge for one year.


Sent from my iPad using Thaivisa Connect

[Asiang]

9 hours ago, craigt3365 said:

The big issue will be if they can maintain the property with many unsold units.  They need a high percentage of the units paying maintenance fees to do this. One building recently had power go out because they couldn't pay the electric bill!  Not good if you are on a floor higher than 2.

 

 

Which building ?

 

 

[amjamj]

If you visit Carribean, it's quite empty, but if you look at the building at night, there are many lights switched on.... ALL NIGHT ! Nice trick to pretend that this is not a ghost building :-)

 

Any discounts available ?

 

Any complain from the few people living there ?