BigDamo Posted October 26, 2014 Share Posted October 26, 2014 Who knows anything about the old house on beach road? It looks like a 60's design but looks in a poor state of repair? Link to comment Share on other sites More sharing options...
bradenroger Posted October 26, 2014 Share Posted October 26, 2014 I'm curious to know about that as well. Have been noticing this house for years. Will be following this topic so hope some colleagues have some insights. Best wishes Link to comment Share on other sites More sharing options...
tropo Posted October 26, 2014 Share Posted October 26, 2014 It is probably owned by some very savvy Thai who bought it for 1000 baht many years ago and is waiting for a 100 million plus offer. Link to comment Share on other sites More sharing options...
Me Yank Posted October 26, 2014 Share Posted October 26, 2014 (edited) I'm curious to know about that as well. Have been noticing this house for years. Will be following this topic so hope some colleagues have some insights. Best wishes The owner of Bangkok Bank built the house when there was nothing on beach road. A old man that worked in the land department bought the adjoining land very cheap. He told his family to lease and never sell. The montien hotel is on a a 30 year lease . When he died the family sold the land where the new owner is building a hotel,condo, and shopping center. Edited October 26, 2014 by Rimmer quotes fixed Link to comment Share on other sites More sharing options...
Spaniel Posted October 26, 2014 Share Posted October 26, 2014 I'm courious about that place too. Link to comment Share on other sites More sharing options...
fosseway Posted October 26, 2014 Share Posted October 26, 2014 Very interesting Me Yank, I first came to Pattaya in December 1974, this house stood by itself with a mass of empty land either side, confirming what you said, It was then kept in pristine condition with beautiful lawns and gardens, many tourists used to have their photos taken using it as a background, me included. Link to comment Share on other sites More sharing options...
BigDamo Posted October 27, 2014 Author Share Posted October 27, 2014 Fosseway can you upload that picture? It would be great to see the old house in its former glory! I was looking at it yesterday and wondering how on earth hasn't it been snapped up, demolished and replaced with a huge concrete structure! I shudder to think what that's worth now mind!! Link to comment Share on other sites More sharing options...
garvon Posted October 27, 2014 Share Posted October 27, 2014 Have been here since 1983 and to my knowledge it belonged to the Kittikachorn Field Marshall family whose total holdings were confiscated by the new regime following the tragic uprising in 76 and he fled to Taiwan. Think the family may have at some point tried to claim it back and that is why it has sat empty forever. Link to comment Share on other sites More sharing options...
BigDamo Posted October 27, 2014 Author Share Posted October 27, 2014 So will it remain the way it is?? Such a shame if so! Link to comment Share on other sites More sharing options...
jaapfries Posted October 27, 2014 Share Posted October 27, 2014 "Luck is with the Dumb . . . . . . ." Many many years ago;when rich Thai land-owners eventually made their Wills, they often left the 'valuable-land' (read: land where on could grow profitable crops, such as Rice, Cassava, Corn etc.) to their brightest off-spring, whereas the 'useless land' (read: between mountains and on the salty beach areas ! !) to the "not-so-smart" kids . . . . . . . Well; as time dragged-on, of course, the land on the and near the beaches became almost price-less, whereas the farm-land is still often availabe to purchase at prices starting from Bt. 8,500.- per Rai. - whilst certain Beach-Properties are fetching Bt. 110 mil. + per Rai today . . . . . . As we say in Thai': 555 Link to comment Share on other sites More sharing options...
KhunBENQ Posted October 27, 2014 Share Posted October 27, 2014 Not the only "mysterious" plot of land on Beach Road. There is huge "unused" plot next to View Talay 6 (walking from Central down south): http://goo.gl/maps/yRl88 Anyone has an idea about this? The plot must be worth muli million dollars. Link to comment Share on other sites More sharing options...
dabhand Posted October 27, 2014 Share Posted October 27, 2014 (edited) Not the only "mysterious" plot of land on Beach Road. There is huge "unused" plot next to View Talay 6 (walking from Central down south): http://goo.gl/maps/yRl88 Anyone has an idea about this? The plot must be worth muli million dollars. Plans were recently (within the last month or so) announced for major development of this plot. A 13(?) story building close to Beach Road which, I believe was to be a shopping / commercial development, With a 28(?) story building further back which was to be mainly residential. There was much consternation expressed by VT6 owners with south facing condos. Their investments were seen to have taken a bit of a financial hit! No doubt there is a thread somewhere on the subject. http://www.thaivisa.com/forum/topic/765789-new-kantary-hotel-to-be-built-next-to-vt6/?p=8484744&hl=%2Bvt6 Just found the link. Edited October 27, 2014 by dabhand Link to comment Share on other sites More sharing options...
fosseway Posted October 27, 2014 Share Posted October 27, 2014 Hi Big Damo, The picture was taken in 1974, at that time I was using 35mm slides, I did have a lot of the transferred to disk, not sure if this was one of them, will check. Link to comment Share on other sites More sharing options...
BigDamo Posted October 27, 2014 Author Share Posted October 27, 2014 Fantastic thanks.... I love looking at old pictures of Pattaya as I have only been coming here for just over 10 years Link to comment Share on other sites More sharing options...
Basil B Posted October 27, 2014 Share Posted October 27, 2014 Not the only "mysterious" plot of land on Beach Road. There is huge "unused" plot next to View Talay 6 (walking from Central down south): http://goo.gl/maps/yRl88 Anyone has an idea about this? The plot must be worth muli million dollars. Plans were recently (within the last month or so) announced for major development of this plot. A 13(?) story building close to Beach Road which, I believe was to be a shopping / commercial development, With a 28(?) story building further back which was to be mainly residential. There was much consternation expressed by VT6 owners with south facing condos. Their investments were seen to have taken a bit of a financial hit! No doubt there is a thread somewhere on the subject. http://www.thaivisa.com/forum/topic/765789-new-kantary-hotel-to-be-built-next-to-vt6/?p=8484744&hl=%2Bvt6 Just found the link. Seems nothing to stop any developer putting up whatever they want, wherever they want, if they have the money, seems no one can stop any one building right in front of their property. In all fairness you can see how close VT6 is to the property boundary so it is understandable that whoever developed that site could build to within equal distance of the boundary, I would question the IQ of those who bought those south facing properties not anticipating their view could be blocked within a few years. Link to comment Share on other sites More sharing options...
Emster23 Posted October 29, 2014 Share Posted October 29, 2014 We have similar property on Jomtien Beach Road, Near Jomtien Boat House hotel/restaurant. It has been empty since I got here 8 years ago (and long before by the looks). I never thought I'd support real estate taxes, but there is no reason for owners to move or improve here. Better than money in the bank I would guess. Link to comment Share on other sites More sharing options...
KhunBENQ Posted October 29, 2014 Share Posted October 29, 2014 (edited) On Jomtien Beach Road there are a couple of empty or abandonded plots as far as I remember. Some decaying ruins. And this big evening market on the empty plot opposite the beach volleyball place would surely vanish if an investor is found. Edited October 29, 2014 by KhunBENQ Link to comment Share on other sites More sharing options...
BigDamo Posted April 14, 2015 Author Share Posted April 14, 2015 Has anything happened to this place yet?? Link to comment Share on other sites More sharing options...
johng Posted April 14, 2015 Share Posted April 14, 2015 It's probabably for sale at a very resonable 100 billion baht. Link to comment Share on other sites More sharing options...
Awohalitsiktoli Posted April 14, 2015 Share Posted April 14, 2015 I think the owner of Bangkok Bank owns the land/house, so he/she does not need to sell it (too rich and does not need the money) and can sit on it forever and a day. Link to comment Share on other sites More sharing options...
OMGImInPattaya Posted April 14, 2015 Share Posted April 14, 2015 Yep, must be one of the last few remaining large land plots that goes from Beach Road to Second Road...nice land bank I'd say. Does look a little forlorn with the seemingly abandoned house in the middle there. Link to comment Share on other sites More sharing options...
i claudius Posted April 14, 2015 Share Posted April 14, 2015 I remember when there were lots of these plots and a falangs could buy them ,oh if only we knew them what we know now Link to comment Share on other sites More sharing options...
Suradit69 Posted April 14, 2015 Share Posted April 14, 2015 (edited) I remember when there were lots of these plots and a falangs could buy them ,oh if only we knew them what we know now It's amusing when the market for property or real estate or whatever is down or over-suppled, all the resident farang econ experts say that sellers should rush to drop their prices. There seems to be a belief that the correct financial move is to panic and sell things at fire sale prices. In many cases the criticism is of the Thai or Asian attitude to sit on what you own until the market is ready to pay you what you want. According to some of the Thai Visa Econ 1010 specialists, it's far better to drop asking prices and sell at a loss and then ... what? TukCom sat empty for a number of years and shops along Pattaya Tai had little business. There were no apparent foreclosures or 50% off signs hung about. Now TukCom is booming and properties on Pattaya Tai are undoubtedly higher priced and generating higher rents. Probably a smart move for owners to wait rather than rush to sell at a loss. In the case of the vacant land on Beach Rd., one rumor I heard was that a royal personage owns it. Have no idea if that's true, but whoever owns it has done well not to rush to make a quick profit or to panic and dispose of it when prices were lower. Edited April 14, 2015 by Suradit69 Link to comment Share on other sites More sharing options...
KittenKong Posted April 14, 2015 Share Posted April 14, 2015 TukCom sat empty for a number of years and shops along Pattaya Tai had little business. There were no apparent foreclosures or 50% off signs hung about. Now TukCom is booming ....... Actually TukCom today has many empty and unused units, with more appearing every day. Link to comment Share on other sites More sharing options...
craigt3365 Posted April 15, 2015 Share Posted April 15, 2015 I remember when there were lots of these plots and a falangs could buy them ,oh if only we knew them what we know now It's amusing when the market for property or real estate or whatever is down or over-suppled, all the resident farang econ experts say that sellers should rush to drop their prices. There seems to be a belief that the correct financial move is to panic and sell things at fire sale prices. In many cases the criticism is of the Thai or Asian attitude to sit on what you own until the market is ready to pay you what you want. According to some of the Thai Visa Econ 1010 specialists, it's far better to drop asking prices and sell at a loss and then ... what? TukCom sat empty for a number of years and shops along Pattaya Tai had little business. There were no apparent foreclosures or 50% off signs hung about. Now TukCom is booming and properties on Pattaya Tai are undoubtedly higher priced and generating higher rents. Probably a smart move for owners to wait rather than rush to sell at a loss. In the case of the vacant land on Beach Rd., one rumor I heard was that a royal personage owns it. Have no idea if that's true, but whoever owns it has done well not to rush to make a quick profit or to panic and dispose of it when prices were lower. Asians seem to have a different perspective on real estate than westerner's do. They'll hold onto it until they get the price they want. Which could be 10-15 years. And here, there are very low property taxes. So it's easy to do this. Back in the US, with taxes running 1-2% and higher/year. For a high end property, that adds up if you are trying to unload it. So...drop the price. Plus, at least in the US, many have loans on the properties. Here, they are mostly held free and clear. I was in Argentina during the financial collapse. Met a doctor who said he was amazed at the foreclosures in the US. Didn't happen there as most properties had no loans against them. Interesting the differences.... Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 15, 2015 Share Posted April 15, 2015 Until such time as they pass a land use tax this is the norm for this country Costs you basically nothing to keep land vacant, while the rest of society pays for infrastructure improvements, your investment increases in value on someone elses dime Appropriate for a me first society and you can bet that the elite will fight tooth and nail to keep the status quo Link to comment Share on other sites More sharing options...
jamesjohnsonthird Posted April 15, 2015 Share Posted April 15, 2015 The similar property, where the Hard Rock Hotels sits sold for $1,300 around 1960 I was told. I spoke with a guy who's mom was offered this 'useless piece of swampland' at the time. Link to comment Share on other sites More sharing options...
fosseway Posted April 15, 2015 Share Posted April 15, 2015 TukCom sat empty for a number of years and shops along Pattaya Tai had little business. There were no apparent foreclosures or 50% off signs hung about. Now TukCom is booming ....... Actually TukCom today has many empty and unused units, with more appearing every day. Link to comment Share on other sites More sharing options...
fosseway Posted April 15, 2015 Share Posted April 15, 2015 I am not surprised about the unused units, was chatting to the staff of the very small coffee counter on the 3rd floor,and was told the rent was 37K per month. Link to comment Share on other sites More sharing options...
i claudius Posted April 15, 2015 Share Posted April 15, 2015 A lot depends on whether you buy property as an investment , a home ,or if you are speculating, speculators usually have to sell to pay back money borrowed to invest ,a friend of my wifes buys condos with her "spare money" and can afford to sit on them for years ,if they do not go up ,no problem ,in fact about 10 years ago the wife baught land up north in her home town very cheaply ,it has quadrupled in price , she has no plans to sell it , as she does not need the money , it was the same in the UK many years ago when house prices crashed ,our home lost about 35k but who cared ,it was our home ,when i eventually sold it it was at a very large profit , horses for courses Link to comment Share on other sites More sharing options...
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