VIPinthailand Posted December 8, 2015 Share Posted December 8, 2015 last day I rode along the beach at Jomption beach. so many buildings under construction, just amazing. nothing on terrasse, seem these places are empty. investment? why to buy second hand when you can have a new condo for same price or even cheaper 200 feet away . people who buy and resell for a quick cash need to wake-up. Link to comment Share on other sites More sharing options...
guzzi850m2 Posted December 8, 2015 Share Posted December 8, 2015 Investment? Many started building before the Ruble crashed, small <30M2 units. Now they can't sell them. Well if I was on the market for a condo, I would rather get a bigger unit in a well run condominium and off-course on a good location. Link to comment Share on other sites More sharing options...
VIPinthailand Posted December 8, 2015 Author Share Posted December 8, 2015 they can not sell their condo because you can buy new. why do you want buy a used condo when you can have a new condo at a cheaper price.? the country is big and have lot of empty places for new project. buildings are taller and taller. 4 years ago it was 8 floors, now 32 floors and more. 10k bahts rent for a studio is ridiculous too expensive. thai don't have this money when they make barely 9k. there is something wrong going on in Pattaya. Link to comment Share on other sites More sharing options...
Gutenberg Posted December 8, 2015 Share Posted December 8, 2015 there is something wrong going on in Pattaya. Well, in terms of capitalism and market, nothing is going wrong there. Link to comment Share on other sites More sharing options...
anto Posted December 8, 2015 Share Posted December 8, 2015 >>why do you want buy a used condo when you can have a new condo at a cheaper price.?<<..Where did you get that idea ? Maybe a new Condo advertised but not yet built .Buying such a thing is a huge risk . Link to comment Share on other sites More sharing options...
pegman Posted December 8, 2015 Share Posted December 8, 2015 there is something wrong going on in Pattaya. Well, in terms of capitalism and market, nothing is going wrong there. How can a true market have so many unsold shell units in buildings a decade old? It seems to me developers are keeping prices well over what a real market would pay to reduce this stock. Prices are similar in many cases to that of industrial countries even though migrant labour paid peanuts are used for the most part. Link to comment Share on other sites More sharing options...
Gutenberg Posted December 8, 2015 Share Posted December 8, 2015 there is something wrong going on in Pattaya. Well, in terms of capitalism and market, nothing is going wrong there. How can a true market have so many unsold shell units in buildings a decade old? It seems to me developers are keeping prices well over what a real market would pay to reduce this stock. Prices are similar in many cases to that of industrial countries even though migrant labour paid peanuts are used for the most part. Well, a "true" and "real" market is always what is paid, not what could have been paid. A method for pricing is to manipulate. And that it is not always working well for the supply, we can see in the condo ghost hoods. The owners aka investors of a condo want to sell at a profit and if you bought your condo at 2mb and trying to sell it for 2,5mb and still nobody buying because there is an endless supply, you hardly want to sell it for less. Link to comment Share on other sites More sharing options...
Jingthing Posted December 8, 2015 Share Posted December 8, 2015 Why buy used? Sometimes it's about the location. Also in a mature building you can determine whether the building dealt with the dangerous early years of a condo, as far as management. Condo owners will know what I mean. As far as marketability of used condos, I reckon it depends on the condition, location, and how well or poorly the building is run. Link to comment Share on other sites More sharing options...
anto Posted December 9, 2015 Share Posted December 9, 2015 The property market in Thailand is different to most Western Countries .Even in the relatively good times 4 and 5 years ago ,it took me 18 months to sell an old small Beach Road Condo in Jomtien.Another new small Condo i sold 800 meters from the beach took 12 months and i just got my investment money back ( even with having it rented also for 9 months ).Better if i had invested the money in a term a/c at a Bank . Things must be even harder now with the Russians mostly gone (i sold my new Condo to a Russian ) ,and many hundreds of times more Condos on the market . Link to comment Share on other sites More sharing options...
KittenKong Posted December 9, 2015 Share Posted December 9, 2015 The Thai property market: Vast supply and little demand, high prices and little value. And generally poor quality of original construction and maintenance. As pointed out, older buildings often offer better value, better build quality and much more space. New buildings here are absurdly high density, with many offering a view directly into the condo in the block opposite which may be just a couple of metres away. Link to comment Share on other sites More sharing options...
Jingthing Posted December 9, 2015 Share Posted December 9, 2015 Just checking, there is still nothing resembling the American MLS, Zillow, realtor.com here, right? Link to comment Share on other sites More sharing options...
VIPinthailand Posted December 9, 2015 Author Share Posted December 9, 2015 best of the worst condo I have seen was unnix. worse was the one with a pirate boat in the pool. basically all these condos are s... t! Link to comment Share on other sites More sharing options...
KittenKong Posted December 9, 2015 Share Posted December 9, 2015 Just checking, there is still nothing resembling the American MLS, Zillow, realtor.com here, right? Not that I know of. Link to comment Share on other sites More sharing options...
toenail Posted December 9, 2015 Share Posted December 9, 2015 What delays me from buying a condo (and I have lived/worked here long enough I would have been better to invest my rent money into purchasing a basic condo) was all of the unpredictables-- no enforcement of city ordinances (such as blaring music next to your condo until 3am) ...or not knowing who your short-term holiday neighbors will be (drunk Russians or young bucks partying)... or trusting the maintenance fee being used efficiently... but if one does not go overboard with the price, I think it may be worth the investment if you know you are staying long-term. I would never spend more than... 4-5 million baht. Surely there are some good deals out there. Know any? (The real estate companies stick to the same-same prices.) Link to comment Share on other sites More sharing options...
SantiSuk Posted December 9, 2015 Share Posted December 9, 2015 Investors are lacking in gumptien in Jomption I guess. Link to comment Share on other sites More sharing options...
VIPinthailand Posted December 12, 2015 Author Share Posted December 12, 2015 what are these hotel companies selling condo like dusit? will they run these condo like a hotel? Link to comment Share on other sites More sharing options...
KittenKong Posted December 12, 2015 Share Posted December 12, 2015 I'm not aware of any connection with Dusit Thani hotels. http://www.dusitgroups.com/about/ Link to comment Share on other sites More sharing options...
ttthailand Posted December 12, 2015 Share Posted December 12, 2015 what are these hotel companies selling condo like dusit? will they run these condo like a hotel? many condos in my building are being rented by the day, week or month. Almost impossible to stop it as most units are investments and are being rented like that, owners like the idea. You never know who your neighbors will be from day to day.... Best to rent so you can move Link to comment Share on other sites More sharing options...
anto Posted December 12, 2015 Share Posted December 12, 2015 What delays me from buying a condo (and I have lived/worked here long enough I would have been better to invest my rent money into purchasing a basic condo) was all of the unpredictables-- no enforcement of city ordinances (such as blaring music next to your condo until 3am) ...or not knowing who your short-term holiday neighbors will be (drunk Russians or young bucks partying)... or trusting the maintenance fee being used efficiently... but if one does not go overboard with the price, I think it may be worth the investment if you know you are staying long-term. I would never spend more than... 4-5 million baht. Surely there are some good deals out there. Know any? (The real estate companies stick to the same-same prices.) I done OK with my first Condo in Jomtien.I just bought a basic small unit in A3 building ,Jomtien Beach Condominium ,with no view .( having A2 block facing me ) .Cost me B400,000 and i had it for 8 years .The complex is well managed with 2 huge pools ,a gym ,restaurants and shops and the beach is just across the road .I used use it 3 or 4 months every year. It was only 28 sqm ,but i put in a king size fold away double bed ( Americans call it a Murphy bed ) ,to make greater use of the space available.Took out the bath ,and put in a shower with room then for a washing machine .Spent about B200,000 renovating it myself over the years .Got B650,000 for it when i sold 4 years ago .It saved me a small fortune in Hotels and most important was , i always had somewhere to call home and leave my possessions in Thailand . Link to comment Share on other sites More sharing options...
LennyW Posted December 12, 2015 Share Posted December 12, 2015 Stop feeding the troll folks!!!! Link to comment Share on other sites More sharing options...
Pattaya46 Posted December 13, 2015 Share Posted December 13, 2015 many condos in my building are being rented by the day, week or month. Almost impossible to stop it as most units are investments and are being rented like that, owners like the idea. Except if its a Condotel (condominium-hotel), a Condominium is not authorised to have such short rents. Some Condominiums in Pattaya have clear rules such a "no rent for less than 3 months". If you are in a Condominium, you can complain to have the law respected. Link to comment Share on other sites More sharing options...
KittenKong Posted December 13, 2015 Share Posted December 13, 2015 many condos in my building are being rented by the day, week or month. Almost impossible to stop it as most units are investments and are being rented like that, owners like the idea. Except if its a Condotel (condominium-hotel), a Condominium is not authorised to have such short rents. Some Condominiums in Pattaya have clear rules such a "no rent for less than 3 months". If you are in a Condominium, you can complain to have the law respected. You can complain but if many co-owners are doing it they will probably pay the management and the JPM to ignore the complaints. Never underestimate the extent of dishonesty in condo management here. Link to comment Share on other sites More sharing options...
VIPinthailand Posted December 14, 2015 Author Share Posted December 14, 2015 I want put mine on air b and b if I buy a condo. Link to comment Share on other sites More sharing options...
loppylugs1 Posted December 14, 2015 Share Posted December 14, 2015 many condos in my building are being rented by the day, week or month. Almost impossible to stop it as most units are investments and are being rented like that, owners like the idea. Except if its a Condotel (condominium-hotel), a Condominium is not authorised to have such short rents. Some Condominiums in Pattaya have clear rules such a "no rent for less than 3 months". If you are in a Condominium, you can complain to have the law respected. You can complain but if many co-owners are doing it they will probably pay the management and the JPM to ignore the complaints. Never underestimate the extent of dishonesty in condo management here. Nothing is underestimated here,honesty integrity never flew out of the window in Thailand it was never in the room to start with. Just a cheaters charter ,complain or state facts concerning anything get threatened with legal action,what planet is Thailand on,hopefully the USA can slip a torpedo into SS Thailand soon Link to comment Share on other sites More sharing options...
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