Trusted Condo Developers, and Who`s Not To Be Trusted?

[HOAX]

Hi there.

I know there are quite a few condo owners here on ThaiVisa, and some of you may even have bought a condo before the development was finished. My questions for you is:

- Did the illustration photos fairly match with the end result?

- Did the developer deliver as promised?

- If yes, can you name the trusted condo developer?

- If no, can you name the condo developer that should not be trusted?

Edited May 8, 2015 by HOAX

[trogers]

Hi there.

I know there are quite a few condo owners here on ThaiVisa, and some of you may even have bought a condo before the development was finished. My questions for you is:

- Did the illustration photos fairly match with the end result?

- Did the developer deliver as promised?

- If yes, can you name the trusted condo developer?

- If no, can you name the condo developer that should not be trusted?

I buy only old condos (15-30 y old). I trust only what I see and hear. Edited May 8, 2015 by trogers

[HOAX]

Hi there.

I know there are quite a few condo owners here on ThaiVisa, and some of you may even have bought a condo before the development was finished. My questions for you is:

- Did the illustration photos fairly match with the end result?

- Did the developer deliver as promised?

- If yes, can you name the trusted condo developer?

- If no, can you name the condo developer that should not be trusted?

I buy only old condos (15-30 y old). I trust only what I see and hear.

Fair enough. This is just one of several options, and since I`m going to buy some condos, knowledge is valuable. Hopefully it will lead me to the most problem free and profitable investments.

[richard_smith237]

One of the seemingly more trustworthy companies is Sansiri - however, they have had issues, a Foam wall scandal (a few years back).

http://www.thaivisa.com/forum/topic/665088-bangkok-expat-shocked-by-foam-filled-condominium-wall/

I have very little trust for any of the construction companies.

Purchasing existing condo's is perhaps the only reasonable way forwards. Off plan appears highly risky.

That said: I'm sure there are good ones. Our Condo (owned) is built by the Lumpini Group - The build seems solid, the Condo and public area's seem well maintained. Fire Equipment is regularly checked with yearly fire-drills and alarm, fire hose checks etc...

Now if only I could sell the place !!!!

[HOAX]

One of the seemingly more trustworthy companies is Sansiri - however, they have had issues, a Foam wall scandal (a few years back).

http://www.thaivisa.com/forum/topic/665088-bangkok-expat-shocked-by-foam-filled-condominium-wall/

I have very little trust for any of the construction companies.

Purchasing existing condo's is perhaps the only reasonable way forwards. Off plan appears highly risky.

That said: I'm sure there are good ones. Our Condo (owned) is built by the Lumpini Group - The build seems solid, the Condo and public area's seem well maintained. Fire Equipment is regularly checked with yearly fire-drills and alarm, fire hose checks etc...

Now if only I could sell the place !!!!

I appreciate your input, and I do agree that buying something "unseen" can be risky. However, a developer with a higher reputation is more likely to deliver to your expectations, and therefor less risky, though not risk-free. The case you mention with Sansiri is one of them, and is something I would worry about before making any deals with them, especially since I could not find any update on that incident, I would question myself if the risk is worth it.

[HOAX]

I found a list of many developers in the Pattaya region. Perhaps it could be helpful for someone.

http://pattayacondoguide.com/find-developers.html

But my questions still stands open. Please share your Good/Bad experience with buying an undeveloped condo.

Edited May 8, 2015 by HOAX

[KittenKong]

People or companies connected with property in Thailand that I would trust: none.

[craigt3365]

Let's be mindful of our forum rules when posting here:

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Defamation is the issuance of a statement about another person or business which causes that person to suffer harm. It does not have to be false to be defamatory. Libel is when the defamatory statement is published either in a drawing, painting, cinematography, film, picture or letters made visible by any means, or any other recording instruments, recording picture or letters, or by broadcasting or spreading picture, or by propagation by any other means. Defamation is both a civil and criminal charge in Thailand.

[falkan]

Did the illustration photos fairly match with the end result?

Yes

- Did the developer deliver as promised?

Late but 3 years later value up 30%

- If no, can you name the condo developer that should not be trusted?

Noble and Land and House

Edited May 9, 2015 by falkan

[trogers]

Did the illustration photos fairly match with the end result?

Yes

- Did the developer deliver as promised?

Late but 3 years later value up 30%

- If no, can you name the condo developer that should not be trusted?

Noble and Land and House

I thought Land and House have the policy to build first and sell on completion. Have they change tack?

[smutcakes]

Did the illustration photos fairly match with the end result?

Yes

- Did the developer deliver as promised?

Late but 3 years later value up 30%

- If no, can you name the condo developer that should not be trusted?

Noble and Land and House

I thought Land and House have the policy to build first and sell on completion. Have they change tack?

L&H like Sansiri (until recently) were always in a position to take this approach, as they were able to sell their condo's off plan mainly to Thai's within a few days of launch.

I suppose we will see in the coming year whether they will continue to launch new projects in more speculative areas whether they maintain this policy.

[Globalist]

To the OP:

The established Thai condo developers listed on the stock exchange of Thailand are generally professional and trustworthy. They have reasonable contract terms similar to those you would expect in western countries such as delay penalty provisions and post-completion warranties. Also their properties tend to maintain value reasonably well after completion. Also they tend to have staff used to dealing with foreign investors, making any pre-transfer purchase process smooth, in fact even if you don't live in Thailand.

Besides this group, correspondingly reputed developers from other countries, e.g. as Singapore, Japan or Taiwan, or joint ventures between such entities and listed Thai developers are also fine.

I would avoid any other type of developers.

But as any serious property investor will tell you; location, location and location is still absolutely crucial, even if the developer is sound.

Edited May 17, 2015 by Globalist