ChrisKC Posted August 27, 2015 Share Posted August 27, 2015 Supply versus Demand. Relentless construction everywhere. Or a 1 word answer "Over-supply" !! But that's good. Will bring prices down. There is more supply than demand in just about everything in Thailand - except for Immigration Officers in Chiang Mai Link to comment Share on other sites More sharing options...
Kerryd Posted August 27, 2015 Share Posted August 27, 2015 I started out renting a Thai style apartment at 5,00 a month. It was a place to leave my stuff while I was working, and when I wasn't it was more convenient (and cheaper) than a hotel room. I then moved to a 2 bedroom house on the Darkside. Much nicer even if it's just one of the little "attached" houses in a "village". More room to breath and keep all my stuff and a place to park my motos instead of being out on a busy street. The house prices were (apparently) around 800k 6 years ago. 3 years ago they went up to 1.2 mil, then 1.4 mil. We recently had the roads in the village resurfaced and now I'm told some people are asking 1.8 mil for the same houses that were going for 800,000 just 6 years ago ! (Needless to say they don't appear to be selling). It won't help matters that 2 majorly large condo complexes are being built nearby. I suspect a lot of homes in the area will sit unsold for a long time to come. Link to comment Share on other sites More sharing options...
SOTIRIOS Posted August 27, 2015 Share Posted August 27, 2015 (edited) ...we should be as familiar with the area as you are.... ...I haven't got a clue.....is it even in Bangkok or another province...... Edited August 27, 2015 by SOTIRIOS Link to comment Share on other sites More sharing options...
dotpoom Posted August 27, 2015 Share Posted August 27, 2015 Supply versus Demand. Relentless construction everywhere. Or a 1 word answer "Over-supply" !! But that's good. Will bring prices down. Not good for those selling. My house has been on the market for two years (Bang Saray) but no go. Knocked 1MB off it for a quick Sale but no takers, so I have given up on it and am happy to stay where I am. Am not worried though, I'm a firm believer in "Fate" and every "speedbump" can be turned into an advantage....I don't have to change a thing ...except my attitude. Link to comment Share on other sites More sharing options...
Thaidream Posted August 27, 2015 Share Posted August 27, 2015 As a long time resident in Thailand- I have sold 2 homes that everyone states would never sell. Both of these homes were in strictly Thai neighborhoods- I was the only foreigner. Thai's will never lower the price below either what they paid or what the price has increased to. Their thought is land never loses its value and they can normally wait as long as it takes. Actually, the dark-side is favored by Thais- they don't want all the noise or traffic that the other side has to offer. It is the foreigner who ignores the dark-side, because it doesn't have the convenience nor the action. If you are married, have a car, the darkside is the place to go for long term stability. Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 ...we should be as familiar with the area as you are.... ...I haven't got a clue.....is it even in Bangkok or another province...... This is called the Pattaya Forum for a reason. Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 As a long time resident in Thailand- I have sold 2 homes that everyone states would never sell. Both of these homes were in strictly Thai neighborhoods- I was the only foreigner. Thai's will never lower the price below either what they paid or what the price has increased to. Their thought is land never loses its value and they can normally wait as long as it takes. Actually, the dark-side is favored by Thais- they don't want all the noise or traffic that the other side has to offer. It is the foreigner who ignores the dark-side, because it doesn't have the convenience nor the action. If you are married, have a car, the darkside is the place to go for long term stability. The foreigner who ignores the dark side? Hardly, there are many, many village catering to foreigners, not to mention a plethora of bars and restaurants also catering to falangs. Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 I pay 5000 baht rent a Month for a reasonable room , walking distance to everything, bars, restaurants, temples, beach, transport, Big C, etc.That's beach side of Sukhumvit. Paying Millions of baht to buy a house on the darkside doesn't make sense to me but each to his own. No motorbikes needed, no taxis needed and it is quiet at night where I live. Now if they dropped prices on the darkside to reasonable levels then I might consider it. But anything over 1 Million Baht just won't do it for me. Not having to cross Sukhumvit everyday is a major consideration, they should reflect the prices accordingly. If you live the bar lifestyle a room is probably all you need, but for those of us who like a nice garden, a car, and something bigger than a shoe box to live in, a house is more suitable. Sad, poor and lonely old men live in a room, everyone else wants more. You are all missing the point. The point is that if those houses on the darkside were on this side of Sukhumvit they would most likely sell. But you guys choose to buy in a location that others don't like, as I said up to you guys. There are many thousands of guys who are will to pay up 5 Million baht for a bedsitter (or pay rent like me) just to be near the water and walking distance to everything (places like VT 6, northpoint etc) A studio in such a location with never to be built out views will always sell. Houses in areas where people don't want to live won't sell easily. Do not under estimate that terrible road Sukhumvit, this road is what most expats who I talk to complain about. They say the shopping is lousy on that side, two baht buses needed to come into town, wait first to fill them up. Choosing times when to come shopping just to avoid traffic, staying overnight here in a 500 baht room because they can't get home, too drunk to drive, rip off taxi motorbikes to go that side and then if they do drive here they get hit up for parking fees. All I'm saying is location is paramount, that is why they don't sell easily. The majority of falangs don't move to the Darkside just so they can sit on a baht bus for an hour to go to Walking Street. There are plenty of local falang owned bars to drink in, most cheaper than downtown Pattya. When I shop I can be in Makro or Lotus in 15 minutes, so it's not as isolated as you suggest. The whole point of moving to the darkside is so you don't have to tolerate the traffic, crime, congestion and pollution that Pattaya has. Link to comment Share on other sites More sharing options...
DrTuner Posted August 27, 2015 Share Posted August 27, 2015 Prolonged low season. Link to comment Share on other sites More sharing options...
Just1Voice Posted August 27, 2015 Share Posted August 27, 2015 "Luke! Beware of the Darkside." Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 Might be something wrong, flooding, electrical Noise, sewer, I would steer clear of the area. Do you have any idea of where the Darkside is or how big the area is? Link to comment Share on other sites More sharing options...
konying Posted August 27, 2015 Share Posted August 27, 2015 Thai owned houses are not easy to sell because transfer to company name does cost a small fortune. Foreign owned houses are also hard to sell because many foreigners believe their house worth much more than it actually is. Looked at one house, foreign owned, overpriced by at least 1 million. Yet owner would not budge because he has pVC windows . In his mind PVC windows worth extra 1 million. My current landlord wants double to what he originally paid 8 years ago. I have been in this house for 6.5 years, he has not done a thing to up keep. I told him if I move out, he would have to spend at least 300000-500000 as everything was broken , from air con to kitchen , doors, plumping, leaks etc. Went into one ear out the other . To make matters funnier, all other houses in the same village are priced about 1 million less. He has been trying to sell it for 6 years and not a single inspection. Link to comment Share on other sites More sharing options...
NanLaew Posted August 27, 2015 Share Posted August 27, 2015 Might be something wrong, flooding, electrical Noise, sewer, I would steer clear of the area. Do you have any idea of where the Darkside is or how big the area is? Maybe he was referring to the particular small village that the OP was specifically talking about. Some villages have flooding, others have bad water supplies. The only 'universal' about the dark side is it isn't really all that dark. Link to comment Share on other sites More sharing options...
steven100 Posted August 27, 2015 Share Posted August 27, 2015 It could be that it's considered the Detroit of Pattaya .... Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 Thai owned houses are not easy to sell because transfer to company name does cost a small fortune. Foreign owned houses are also hard to sell because many foreigners believe their house worth much more than it actually is. Looked at one house, foreign owned, overpriced by at least 1 million. Yet owner would not budge because he has pVC windows . In his mind PVC windows worth extra 1 million. My current landlord wants double to what he originally paid 8 years ago. I have been in this house for 6.5 years, he has not done a thing to up keep. I told him if I move out, he would have to spend at least 300000-500000 as everything was broken , from air con to kitchen , doors, plumping, leaks etc. Went into one ear out the other . To make matters funnier, all other houses in the same village are priced about 1 million less. He has been trying to sell it for 6 years and not a single inspection. That sounds like an isolated example. I know of quite a few falangs that are either happy to get what they paid 5 years ago, or drop their prices drastically to get out. It's the Thais that refuse to budge. Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 Might be something wrong, flooding, electrical Noise, sewer, I would steer clear of the area. Do you have any idea of where the Darkside is or how big the area is? Maybe he was referring to the particular small village that the OP was specifically talking about. Some villages have flooding, others have bad water supplies. The only 'universal' about the dark side is it isn't really all that dark. Doesn't compare to what's happening to some villages in BKK. Whole village with 10 million baht house collapsing because of subsidence. Link to comment Share on other sites More sharing options...
Don Mega Posted August 27, 2015 Share Posted August 27, 2015 You are all missing the point. The point is that if those houses on the darkside were on this side of Sukhumvit they would most likely sell. But you guys choose to buy in a location that others don't like, as I said up to you guys. There are many thousands of guys who are will to pay up 5 Million baht for a bedsitter (or pay rent like me) just to be near the water and walking distance to everything (places like VT 6, northpoint etc) A studio in such a location with never to be built out views will always sell. Houses in areas where people don't want to live won't sell easily. Do not under estimate that terrible road Sukhumvit, this road is what most expats who I talk to complain about. They say the shopping is lousy on that side, two baht buses needed to come into town, wait first to fill them up. Choosing times when to come shopping just to avoid traffic, staying overnight here in a 500 baht room because they can't get home, too drunk to drive, rip off taxi motorbikes to go that side and then if they do drive here they get hit up for parking fees. All I'm saying is location is paramount, that is why they don't sell easily. Interesting. I like all farangs I know that live on the "darkside" manage easily to do their shopping with the need of zero baht buses. Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 (edited) You are all missing the point. The point is that if those houses on the darkside were on this side of Sukhumvit they would most likely sell. But you guys choose to buy in a location that others don't like, as I said up to you guys. There are many thousands of guys who are will to pay up 5 Million baht for a bedsitter (or pay rent like me) just to be near the water and walking distance to everything (places like VT 6, northpoint etc) A studio in such a location with never to be built out views will always sell. Houses in areas where people don't want to live won't sell easily. Do not under estimate that terrible road Sukhumvit, this road is what most expats who I talk to complain about. They say the shopping is lousy on that side, two baht buses needed to come into town, wait first to fill them up. Choosing times when to come shopping just to avoid traffic, staying overnight here in a 500 baht room because they can't get home, too drunk to drive, rip off taxi motorbikes to go that side and then if they do drive here they get hit up for parking fees. All I'm saying is location is paramount, that is why they don't sell easily. Interesting. I like all farangs I know that live on the "darkside" manage easily to do their shopping with the need of zero baht buses. As I said previously, it's a breeze. I live near the end of Nern Plubwan and it takes me 15 minutes to get to Makro. Probably takes me about the same time as someone who lives at Pratumnak. On the odd occasions that I want to go to Central, I drive my car to Thappraya and get a baht bus from there. Edited August 27, 2015 by giddyup Link to comment Share on other sites More sharing options...
carabou Posted August 27, 2015 Share Posted August 27, 2015 I rent a nice house in Pathum Thani for 5000baht a month. Covered car park. Three bedroom,two bathroom aircond main bedroom. Two storey.Recently painted inside. A nice area and quiet apart from the local dogs going bonkers for 10 minutes or so most nights. Owner wants 1 mil for it but why buy? Have a car but only 10 mins to Costco etc. Twenty mins to Future Park. Would cost $400 pw in Oz. Does me. Have had some mind boggling experiences in the past with the Thai attitude to selling a property. As a result I never did it and happy I didn't. Link to comment Share on other sites More sharing options...
sabaii69 Posted August 27, 2015 Share Posted August 27, 2015 Buyer beware and investigate before making a commitment on the dark side. I rented a house in a nice looking gated community after being enticed by close friends. After moving into Areeya Villas off Siam C.C. Rd. I found that the house next to me was turned into a very busy gay resort with 5 new men coming in per week plus their boy entertainment. The houses in here do not sell, cannot rent and remain vacant because the place is not cared for even though fees are paid for same. Vacant lots are jungles full of rats and snakes. Link to comment Share on other sites More sharing options...
thailandforumaddict Posted August 27, 2015 Share Posted August 27, 2015 If you are smart it is very easy to get a house almost for free as some farang owners who have to go back home temporally would be so happy to have someone take care of their house when they are not here... Link to comment Share on other sites More sharing options...
giddyup Posted August 27, 2015 Share Posted August 27, 2015 If you are smart it is very easy to get a house almost for free as some farang owners who have to go back home temporally would be so happy to have someone take care of their house when they are not here... Where would you find these "free" houses? Don't think it's quite that simple. Link to comment Share on other sites More sharing options...
konying Posted August 27, 2015 Share Posted August 27, 2015 Thai owned houses are not easy to sell because transfer to company name does cost a small fortune. Foreign owned houses are also hard to sell because many foreigners believe their house worth much more than it actually is. Looked at one house, foreign owned, overpriced by at least 1 million. Yet owner would not budge because he has pVC windows . In his mind PVC windows worth extra 1 million. My current landlord wants double to what he originally paid 8 years ago. I have been in this house for 6.5 years, he has not done a thing to up keep. I told him if I move out, he would have to spend at least 300000-500000 as everything was broken , from air con to kitchen , doors, plumping, leaks etc. Went into one ear out the other . To make matters funnier, all other houses in the same village are priced about 1 million less. He has been trying to sell it for 6 years and not a single inspection. That sounds like an isolated example. I know of quite a few falangs that are either happy to get what they paid 5 years ago, or drop their prices drastically to get out. It's the Thais that refuse to budge. I am sure you know more, but since i been on the market for a house for over a year now, i can tell you foreigners are no different to Thai, same applies to cars. Usually same kind of excuse, "but its foreign owned" as if it makes any different in terms of quality Thai sellers are just irrational One house, i liked and decided to buy, but naturally prior to that, wanted for my lawyers to look through all the papers. Seller, Thai was screaming like mad, if i wanted the house, i had to put down deposit of 1 million right now, right then, mind you it was a Sunday Cut the story short, chanot was pawned and lawyer said it was really messy, 8 months later, house is still for sale, but 200 000 more expansive Link to comment Share on other sites More sharing options...
little mary sunshine Posted August 27, 2015 Share Posted August 27, 2015 Yes, I know where The Dark Side is!!! What I don't know is this Specific Soi,these 10 houses are located on. Link to comment Share on other sites More sharing options...
kiniyow Posted August 27, 2015 Share Posted August 27, 2015 Within a Year there should be 1 Million condos to compete with the Housing Market.. Link to comment Share on other sites More sharing options...
kerrysum Posted August 27, 2015 Share Posted August 27, 2015 House sales seem very slow. There have been 6 houses for sale in our village of 40 houses for more than 2 years, some as long as 6 years. Maybe the sellers are asking too much, but I also think there is a glut of houses on the dark side as more and more villages are being built. Thailand as usual, what can I say.... Have no plans of investing there at this point. I am seeing that their housing prices are way over what they should be.... Just my thoughts Link to comment Share on other sites More sharing options...
kerrysum Posted August 27, 2015 Share Posted August 27, 2015 If you are smart it is very easy to get a house almost for free as some farang owners who have to go back home temporally would be so happy to have someone take care of their house when they are not here... Where would you find these "free" houses? Don't think it's quite that simple. That would be my thought! I have no desire to buy one... Link to comment Share on other sites More sharing options...
RGW43 Posted August 28, 2015 Share Posted August 28, 2015 Can we get a few tips on how to find these farang owners who rent out cheaply to someone took look after their house while they are away? I would be interested in that. Link to comment Share on other sites More sharing options...
jacko45k Posted August 28, 2015 Share Posted August 28, 2015 (edited) Might be something wrong, flooding, electrical Noise, sewer, I would steer clear of the area. A high incidence of burglary perhaps too! I looked at houses in the dark-side area, a new development with a common name and a number 6 on the end! Show house and the drawings looked great. I then took a ride out to nearby older developments that had the same name but numbers 1 and 2. Scruffy, derelict looking, stray dogs and old vehicles randomly parked on street. I decided against number 6! I rented for a while and saw the slow decline there too...... Back to the OP, not enough buyers, too much property on the market and prohibitive rules and dubious land ownership tricks for foreigners. Edited August 28, 2015 by jacko45k Link to comment Share on other sites More sharing options...
giddyup Posted August 28, 2015 Share Posted August 28, 2015 Might be something wrong, flooding, electrical Noise, sewer, I would steer clear of the area. A high incidence of burglary perhaps too! I looked at houses in the dark-side area, a new development with a common name and a number 6 on the end! Show house and the drawings looked great. I then took a ride out to nearby older developments that had the same name but numbers 1 and 2. Scruffy, derelict looking, stray dogs and old vehicles randomly parked on street. I decided against number 6! I rented for a while and saw the slow decline there too...... Back to the OP, not enough buyers, too much property on the market and prohibitive rules and dubious land ownership tricks for foreigners. I could show you some pretty scruffy, derelict-looking condo blocks around Pattaya as well. Link to comment Share on other sites More sharing options...
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