Patong is dead.

[LivinginKata]

16 minutes ago, madmitch said:

Not just Patong: there's at least one condo block in Karon that now caters for busloads of Chinese. You'd be pretty p!ssed off if you were an owner, I'm sure.

 

I lost count of the number of large buses I saw on Patak Road last night and they were lined up at the Hilton Arcadia this morning. Are other parts of the island seeing similar? 

For sure the Chinese are back in Kata Karon after a few months remiss during the owner struggle and asset sales. Now I daily see  4 buses parked outside  Kata low star hotel.

[NamKangMan]

45 minutes ago, xylophone said:

Property in Patong…………

 

Wandering through Jungceylon a couple of days ago I noticed a new and larger property display by the Emerald group.

 

Before I get onto that, there are already 15 property booths in Jungceylon so one would have thought that would be enough, but obviously not. In addition I know the manager of several of these booths and a few months ago he was lamenting the fact that business was extremely slow and the poorest he had ever seen it, however then it took a blip upwards in late January early February (as I recall) so he was happier for a while anyway.

 

An old friend of mine who has just returned to Patong has gotten into the real estate business and told me just the other day that he never realised that there were so many apartments and businesses for sale, with so few buyers. He did however mention that when there was a fairly keen buyer, the seller would not drop the price or negotiate it, so no deal was done and he couldn’t understand this mentality.

 

Back on to the display I saw in Jungceylon; the Emerald Group built some apartments called “The Terraces” off Phra Baramee road and although they are not in the most salubrious surroundings the area is quiet and not too far from the beach. When they were being marketed, I was led to believe by the marketing folk at the time that there was going to be a second set of apartments built nearby called, “The Terraces 2”.

 

Now the second set of apartments if that’s what they were to be, have been stalled for some time now and there is just an empty shell with some rusting iron work protruding from various concrete places not to mention the fact that the whole place looks very shoddy indeed.

 

So I asked at this new property display in Jungceylon what they were actually selling and they said they were selling apartments and these apartments would be bought off the plan now and ready in two years?? I asked if they were the same apartments which had been stalled for some time now, however I didn’t get a straight answer.

 

Either way it makes you wonder as to whether these property developers think that just about everybody who comes to this place is stupid/gullible or whether they are right and there is easy money to be made on these things?

 

Looking around that the other stalled/derelict apartment blocks and doing a bit of research it should become quite obvious that there is a problem here what with the Phanason Park project stalled for three years now, the ACE Condominiums unfinished and rotting (and the money having vanished by all accounts) then others like the Dinso apartments where nothing has happened for two years and the plethora of apartments and houses for sale which haven’t moved for years.

 

And on the subject of property, those folks who bought apartments for an investment and who have gotten the seven or 10% returns promised for the first two years (which was built into the sale price anyway) which is now finished, will be struggling. One large development of recent times has taken to putting Chinese guests a la the “airbnb” model into these places for a few days at a time, which I thought had just been judged illegal.

 

Notwithstanding the odd Chinese tourist or three, a resident there has said that he rarely sees any activity in any of the apartments anyway (granted, a few more in the high season, but nowhere near enough to satisfy the owners investment return expectations I would think).

 

"He did however mention that when there was a fairly keen buyer, the seller would not drop the price or negotiate it, so no deal was done and he couldn’t understand this mentality." - possibly because the seller can not afford to take a big loss on the sale. 

 

Probably paid way too much for the property originally.  Maybe lost some money to a Thai girl/s along the way.  Maybe lost money in a failed bar or business.

 

He can no longer afford to stay, and can not sell at a price that still allows him to remain retired.

 

For a lot of these people, it's back to their home country living on benefits, or the one way balcony flight.

[NamKangMan]

53 minutes ago, madmitch said:

Not just Patong: there's at least one condo block in Karon that now caters for busloads of Chinese. You'd be pretty p!ssed off if you were an owner, I'm sure.

 

I lost count of the number of large buses I saw on Patak Road last night and they were lined up at the Hilton Arcadia this morning. Are other parts of the island seeing similar? 

 

"You'd be pretty p!ssed off if you were an owner, I'm sure." - have you considered a Chinese company may own the whole condo block, and if they don't now, they soon will?

 

Also, for those farang who have left Phuket, and can't sell their condo, at least this tourism may be be bringing in a few baht, so, I doubt they are "p!ssed off." 

 

Now, where I agree with you is, if lived in that condo block, I would not be happy, however, I'm gathering there are more vacant condos in the block than condos inhabited by farang, so, not much choice for those who remain.

[madmitch]

14 hours ago, NamKangMan said:

 

"You'd be pretty p!ssed off if you were an owner, I'm sure." - have you considered a Chinese company may own the whole condo block, and if they don't now, they soon will?

 

Also, for those farang who have left Phuket, and can't sell their condo, at least this tourism may be be bringing in a few baht, so, I doubt they are "p!ssed off." 

 

Now, where I agree with you is, if lived in that condo block, I would not be happy, however, I'm gathering there are more vacant condos in the block than condos inhabited by farang, so, not much choice for those who remain.

I did mean owners that live there. And it's not a Chinese block as these properties have been around for a while building and marketing one phase at a time.

[madmax2]

What they call apartments and condo's here are called flats in Australia and UK

One bedroom with a combined kitchen, dining, living area (usually has a island cupboard for a breakfast bar and stools as the dining area) is a flat in any country, calling them apartments is a real fantasy

Plenty around everywhere for sale, just make a offer at 40% of the asking price of a completed unit only and you will probably get it and not lose to much money if you want to sell it at a later date 

[KarenBravo]

2 minutes ago, madmax2 said:

What they call apartments and condo's here are called flats in Australia and UK

One bedroom with a combined kitchen, dining, living area (usually has a island cupboard for a breakfast bar and stools as the dining area) is a flat in any country, calling them apartments is a real fantasy

Plenty around everywhere for sale, just make a offer at 40% of the asking price of a completed unit only and you will probably get it and not lose to much money if you want to sell it at a later date 

In Thailand, condominium and apartment have different legal definitions.

[madmax2]

1 minute ago, KarenBravo said:

In Thailand, condominium and apartment have different legal definitions.

The single bedroom ones i have looked at are flats, no matter what the local definitions of them are

[KarenBravo]

Just now, madmax2 said:

The single bedroom ones i have looked at are flats, no matter what the local definitions of them are

That may well be, but, here in Thailand a foreigner cannot own an apartment in their own name; only a condominium.

[chrisandsu]

14 minutes ago, madmax2 said:

What they call apartments and condo's here are called flats in Australia and UK

One bedroom with a combined kitchen, dining, living area (usually has a island cupboard for a breakfast bar and stools as the dining area) is a flat in any country, calling them apartments is a real fantasy

Plenty around everywhere for sale, just make a offer at 40% of the asking price of a completed unit only and you will probably get it and not lose to much money if you want to sell it at a later date 

An apartment is part of a rental complex . A condo is privately owned . Apartments are seen as the same as council gaffs in America . 

[madmax2]

2 minutes ago, KarenBravo said:

That may well be, but, here in Thailand a foreigner cannot own an apartment in their own name; only a condominium.

So what , i know someone who has bought apartment in their own name as a condominium

Two bedrooms, kitchen dining area and inside and outside living areas, it has a large balcony

[madmax2]

1 minute ago, chrisandsu said:

An apartment is part of a rental complex . A condo is privately owned . Apartments are seen as the same as council gaffs in America . 

Different definitions in different countries, apartments in Australia are generally lived in by their owners the same as a house and have the same facilities, flats are part of a rental complex and have a single entrance hall and fire escapes where necessary 

They like to call houses villa's here, in Australia a villa is part of a group of houses where you each own your own area but common ground, drive ins, guest parking and common open space is jointly owned, houses you own the buildings and the ground they are built on exclusively  

[KarenBravo]

33 minutes ago, madmax2 said:

So what , i know someone who has bought apartment in their own name as a condominium

Two bedrooms, kitchen dining area and inside and outside living areas, it has a large balcony

So, he bought into a condominium.

[madmax2]

28 minutes ago, KarenBravo said:

So, he bought into a condominium.

No he bought a apartment that was called a condo

Any way what is the difference you can own buildings here no matter what you call them

Its the land they stand on that foreigners cannot own only, or are you going to disagree with me again 

[KarenBravo]

 

1 hour ago, madmax2 said:

No he bought a apartment that was called a condo

Any way what is the difference you can own buildings here no matter what you call them

Its the land they stand on that foreigners cannot own only, or are you going to disagree with me again 

Nope. Incorrect. Do your homework.

[GeorgeCross]

3 hours ago, madmax2 said:

What they call apartments and condo's here are called flats in Australia and UK

One bedroom with a combined kitchen, dining, living area (usually has a island cupboard for a breakfast bar and stools as the dining area) is a flat in any country, calling them apartments is a real fantasy

Plenty around everywhere for sale, just make a offer at 40% of the asking price of a completed unit only and you will probably get it and not lose to much money if you want to sell it at a later date 

 

wow, how many did you buy at 60% off asking madmax2?

[madmax2]

1 hour ago, KarenBravo said:

 

Nope. Incorrect. Do your homework.

Whoosh

[madmax2]

1 hour ago, GeorgeCross said:

 

wow, how many did you buy at 60% off asking madmax2?

I said 40% off, would only be interested in house which there have been a few avaliable at 40% and more off the original asking price which i have not been interested in, would not be interested in condo's even at 60% off in Phuket

Best way to lose your money with the current oversupply of unsold, overpriced condo's

You trying to sell condo's are you, best of luck you need it

[bbi1]

4 hours ago, madmax2 said:

What they call apartments and condo's here are called flats in Australia and UK

One bedroom with a combined kitchen, dining, living area (usually has a island cupboard for a breakfast bar and stools as the dining area) is a flat in any country, calling them apartments is a real fantasy

Plenty around everywhere for sale, just make a offer at 40% of the asking price of a completed unit only and you will probably get it and not lose to much money if you want to sell it at a later date 

In the UK they might be called flats but I can assure you in the land of Oz they're called units or apartments.

[madmax2]

Just now, bbi1 said:

In the UK they might be called flats but I can assure you in the land of Oz they're called units or apartments.

Not in WA until recent years, they were always called flats especially the one bedroom with combined kitchen, eating, living area, i am well aware estate agents have now renamed then hoping to convince mugs they are not flats, and it works with some people 

[bbi1]

Just now, madmax2 said:

Not in WA until recent years, they were always called flats especially the one bedroom with combined kitchen, eating, living area, i am well aware estate agents have now renamed then hoping to convince mugs they are not flats, and it works with some people 

WA is always behind in everything, that's why their clocks are 3hrs behind the Eastern states lol :p. Flats was a term used maybe 20-30 years ago but also called units. Now it's only units & apartments which are interchanged. A unit/apartment with everything combined is called a studio apartment.

[madmax2]

Just now, bbi1 said:

WA is always behind in everything, that's why their clocks are 3hrs behind the Eastern states lol :p. Flats was a term used maybe 20-30 years ago but also called units. Now it's only units & apartments which are interchanged. A unit/apartment with everything combined is called a studio apartment.

Its been over 10 years that flats were called flats in WA but that does not change what they are

Actually WA is 2 hours behind the eastern states and does not have daylight saving in the summer which adds another hour to the time difference, no one wants it

[stevenl]

22 minutes ago, madmax2 said:

I said 40% off, would only be interested in house which there have been a few avaliable at 40% and more off the original asking price which i have not been interested in, would not be interested in condo's even at 60% off in Phuket

Best way to lose your money with the current oversupply of unsold, overpriced condo's

You trying to sell condo's are you, best of luck you need it

" Plenty around everywhere for sale, just make a offer at 40% of the asking price "

Which makes it 60% off.

[madmax2]

7 minutes ago, stevenl said:

" Plenty around everywhere for sale, just make a offer at 40% of the asking price "

Which makes it 60% off.

40% off 100% leaves 60% of the original asking price as your offer its not 60% off, not when i went to school

[stevenl]

15 minutes ago, madmax2 said:

40% off 100% leaves 60% of the original asking price as your offer its not 60% off, not when i went to school

In which case maybe English was not taught very well at your school. An offer at 40% of the asking price, as you said, leaves 40%. An offer at 40% means: bid 40%. If you meant: offer 40% off of the asking price that would leave 60%.

 

Have a good day.

[madmax2]

6 minutes ago, stevenl said:

In which case maybe English was not taught very well at your school. An offer at 40% of the asking price, as you said, leaves 40%. An offer at 40% means: bid 40%. If you meant: offer 40% off of the asking price that would leave 60%.

 

Have a good day.

I said 40% of the original asking price 100%-40% leaves 60% not 40%

English teaching was good in my schools, how was it in yours

[stevenl]

17 minutes ago, madmax2 said:

I said 40% of the original asking price 100%-40% leaves 60% not 40%

English teaching was good in my schools, how was it in yours

For the second time your own words quoted:

" Plenty around everywhere for sale, just make a offer at 40% of the asking price ". You notice the word 'at'. Just stop this sillyness with your own words here visible. So I can now confirm English teaching was better at mine than at yours.

 

No need for an answer or excuses to GeorgeCross, they won't be forthcoming anyway.

 

And can we now get back on topic again please?

[xylophone]

Had another look at the "Emerald Group" property booth in Jungceylon today and it appears that they are marketing/selling villas and condos in and around Kalim with no mention of the unfinished condos near the Terrace project.

 

Now whether or not this unfinished dilapidated building next to the condos was going to be phase 2 (initially it apparently was) is unknown, however a search on the Phuket Gazette and Phuket News archives throws up a lot of questions about this developer and the fact that some buyers of the condos appear to be somewhat disgruntled.

 

The above and the following statement from the company certainly didn't fill me with confidence with regards to these; "as regards the Emerald Terrace project, we are progressing with the title deeds of all sold units and are registering them with a land office in order to transfer ownership to the buyers".

 

I believe they have been completed for around two years now, or thereabouts!!!!!!!

[madmax2]

21 minutes ago, stevenl said:

For the second time your own words quoted:

" Plenty around everywhere for sale, just make a offer at 40% of the asking price ". You notice the word 'at'. Just stop this sillyness with your own words here visible. So I can now confirm English teaching was better at mine than at yours.

 

No need for an answer or excuses to GeorgeCross, they won't be forthcoming anyway.

 

And can we now get back on topic again please?

OMG at 40% of the asking price means i am offering 60% of the asking price

100 minus 40 is 60, who is making excuses, not me

Can someone else explain it to Steven i cannot get thru to him

[bbi1]

42 minutes ago, stevenl said:

In which case maybe English was not taught very well at your school. An offer at 40% of the asking price, as you said, leaves 40%. An offer at 40% means: bid 40%. If you meant: offer 40% off of the asking price that would leave 60%.

 

Have a good day.

Just change the offer. Offer 50% of the purchase price or 50% off the purchase price and both of you will be correct. There you go, problem solved :)

[madmax2]

3 minutes ago, bbi1 said:

Just change the offer. Offer 50% of the purchase price or 50% off the purchase price and both of you will be correct. There you go, problem solved :)

I said to offer 40% off the asking price, its not the purchase price until the offer is accepted