Are well priced Pattaya resale condos selling now, or not?

[Daryle]

Conventional wisdom would say the Pattaya real estate market, is a train wreck waiting to happen.

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[mcfish]

Interesting report, Cruncher. I assume the first sales office you visited was Centric Sea--I don't know any other recently opened condos in Pattaya with over 1000 units. So, 80% sold. Quite a different figure from what that other guy was saying awhile back--I think he thought it was 7%--judging by the number of lights on at night or some such nonsense. 7 not 70. So much for his guessing ability. 80% sounds about right. I was in the sales office, too, the other day and picked up the latest price lists for condos still for sale in building A and B. The sales clerk told me there was still 19% foreign quota available so sales have been fairly healthy to Thai buyers, with a number from Bangkok, I think.

As you mentioned, there are some condos available in the 70,000 Baht a square meter range--but it should be noted that those are mostly on a low floor or face east. If you want a high floor with seaview, those are around 95,000-120,000 Baht a sqm. I couldn't find any 1 bedrooms still for sale facing west in the A Building on the price list. The cheapest in the B Building was on floor 10 for 86,520 Baht a sqm. A higher floor, say floor 17, is 112,992 Baht a sqm with west seaview. The A Building (the taller one) has been more popular than B Building. Out of around 450 units for sale, it looks like there are about 50 units still available on the price list. B Building has about 460 units and has about 100 listed still for sale, the majority facing east with no seaview.

I'm not sure why you are faulting the sales clerk for wanting to sell you a condo from the developer rather than try to find a resale for you. Obviously, the developer is paying her and you are in the developer's sales office. Seems logical she would be trying to sell the developer's unsold product first. There are resales with any condo project but usually it's up to you to find them on your own. The Centric resales I have seen advertised on various websites have so far not seemed to be especially good buys from desperate sellers.

especially good buys from desperate sellers

As one that thinks it is a mug's game for a farang to buy any property in LOS ( and I say so often on TV threads ), I just love threads like this.

Why? there is only one credible post and you quoted it

"Desperate" sellers says it all.

"have so far not seemed to be especially good buys from desperate sellers."

sounds like they not very desperate to me

[bkk6060]

Interesting report, Cruncher. I assume the first sales office you visited was Centric Sea--I don't know any other recently opened condos in Pattaya with over 1000 units. So, 80% sold. Quite a different figure from what that other guy was saying awhile back--I think he thought it was 7%--judging by the number of lights on at night or some such nonsense. 7 not 70. So much for his guessing ability. 80% sounds about right. I was in the sales office, too, the other day and picked up the latest price lists for condos still for sale in building A and B. The sales clerk told me there was still 19% foreign quota available so sales have been fairly healthy to Thai buyers, with a number from Bangkok, I think.
As you mentioned, there are some condos available in the 70,000 Baht a square meter range--but it should be noted that those are mostly on a low floor or face east. If you want a high floor with seaview, those are around 95,000-120,000 Baht a sqm. I couldn't find any 1 bedrooms still for sale facing west in the A Building on the price list. The cheapest in the B Building was on floor 10 for 86,520 Baht a sqm. A higher floor, say floor 17, is 112,992 Baht a sqm with west seaview. The A Building (the taller one) has been more popular than B Building. Out of around 450 units for sale, it looks like there are about 50 units still available on the price list. B Building has about 460 units and has about 100 listed still for sale, the majority facing east with no seaview.
I'm not sure why you are faulting the sales clerk for wanting to sell you a condo from the developer rather than try to find a resale for you. Obviously, the developer is paying her and you are in the developer's sales office. Seems logical she would be trying to sell the developer's unsold product first. There are resales with any condo project but usually it's up to you to find them on your own. The Centric resales I have seen advertised on various websites have so far not seemed to be especially good buys from desperate sellers.

especially good buys from desperate sellers

As one that thinks it is a mug's game for a farang to buy any property in LOS ( and I say so often on TV threads ), I just love threads like this.

Why? there is only one credible post and you quoted it

"Desperate" sellers says it all.

"have so far not seemed to be especially good buys from desperate sellers."

sounds like they not very desperate to me

I am sure there are some just not documented here. But there are a lot of properties on the market now and typical of most peoples thinking, they are asking more then it is worth.
Someone mentioned Centric so I checked it and found at least 100 places for resale. I guess they are mostly "fippers". Good luck with trying to make a big profit as I think you can negotiate from the builder for even a lesser price.
Basically, there are tons of properties on the market now. Maybe not the bottom, but prices will be declining more in the future I am sure.

[Nomyai]

Before you purchase a condo in Pattaya. I think you should check with a real estate agent, because the prices are different enough. And buy with agent who in the business for many years.

Be4 buying a pattay condo you should check with a mental health doctor...............................hahahahaha.

[TheCruncher]

Interesting report, Cruncher. I assume the first sales office you visited was Centric Sea--I don't know any other recently opened condos in Pattaya with over 1000 units. So, 80% sold. Quite a different figure from what that other guy was saying awhile back--I think he thought it was 7%--judging by the number of lights on at night or some such nonsense. 7 not 70. So much for his guessing ability. 80% sounds about right. I was in the sales office, too, the other day and picked up the latest price lists for condos still for sale in building A and B. The sales clerk told me there was still 19% foreign quota available so sales have been fairly healthy to Thai buyers, with a number from Bangkok, I think.

As you mentioned, there are some condos available in the 70,000 Baht a square meter range--but it should be noted that those are mostly on a low floor or face east. If you want a high floor with seaview, those are around 95,000-120,000 Baht a sqm. I couldn't find any 1 bedrooms still for sale facing west in the A Building on the price list. The cheapest in the B Building was on floor 10 for 86,520 Baht a sqm. A higher floor, say floor 17, is 112,992 Baht a sqm with west seaview. The A Building (the taller one) has been more popular than B Building. Out of around 450 units for sale, it looks like there are about 50 units still available on the price list. B Building has about 460 units and has about 100 listed still for sale, the majority facing east with no seaview.

I'm not sure why you are faulting the sales clerk for wanting to sell you a condo from the developer rather than try to find a resale for you. Obviously, the developer is paying her and you are in the developer's sales office. Seems logical she would be trying to sell the developer's unsold product first. There are resales with any condo project but usually it's up to you to find them on your own. The Centric resales I have seen advertised on various websites have so far not seemed to be especially good buys from desperate sellers.

especially good buys from desperate sellers

As one that thinks it is a mug's game for a farang to buy any property in LOS ( and I say so often on TV threads ), I just love threads like this.

Why? there is only one credible post and you quoted it

"Desperate" sellers says it all.

"have so far not seemed to be especially good buys from desperate sellers."

sounds like they not very desperate to me

I am sure there are some just not documented here. But there are a lot of properties on the market now and typical of most peoples thinking, they are asking more then it is worth.

Someone mentioned Centric so I checked it and found at least 100 places for resale. I guess they are mostly "fippers". Good luck with trying to make a big profit as I think you can negotiate from the builder for even a lesser price.

Basically, there are tons of properties on the market now. Maybe not the bottom, but prices will be declining more in the future I am sure.

Correct you are, and add to those 100 you found for resale the over 200 the developer has still for sale while the project is finished already, and you know how serious the situation is.

Now let me add something I didn't yet. The other project I mentioned as you may have guessed was The Base, constructed by the biggest developer in Thailand.

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

During the almost 2 hours I spent there on a Saturday afternoon I didn't see a single person and there were 7 cars parked in total.

For those who don't know, Baan Plai Haad was finished almost a year ago and is absolute beach front.

The lady also pointed me to some other locations in Thailand that were interesting for those who wanted to invest in rental, and she also explained the reasons for it, which I wasn't aware of but completely agreed with.

So I asked her if Sansiri had a project in that area and her answer spoke for itself.

She said Sansiri had land in the area, but at the moment had halted the start of all new projects, because they were struggling with an overstock in unsold units all over Thailand.

Pattaya was still one of the least bad locations, but Bangkok was disastrous according to her.

I see no reason as why she would lie about that, but some posters I already can think of for sure can give me a reason.

[ExpatOilWorker]

Correct you are, and add to those 100 you found for resale the over 200 the developer has still for sale while the project is finished already, and you know how serious the situation is.

Now let me add something I didn't yet. The other project I mentioned as you may have guessed was The Base, constructed by the biggest developer in Thailand.

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

During the almost 2 hours I spent there on a Saturday afternoon I didn't see a single person and there were 7 cars parked in total.

For those who don't know, Baan Plai Haad was finished almost a year ago and is absolute beach front.

The lady also pointed me to some other locations in Thailand that were interesting for those who wanted to invest in rental, and she also explained the reasons for it, which I wasn't aware of but completely agreed with.

So I asked her if Sansiri had a project in that area and her answer spoke for itself.

She said Sansiri had land in the area, but at the moment had halted the start of all new projects, because they were struggling with an overstock in unsold units all over Thailand.

Pattaya was still one of the least bad locations, but Bangkok was disastrous according to her.

I see no reason as why she would lie about that, but some posters I already can think of for sure can give me a reason.

Do you know the size of the units offered for 3 million?

[TheCruncher]

Correct you are, and add to those 100 you found for resale the over 200 the developer has still for sale while the project is finished already, and you know how serious the situation is.

Now let me add something I didn't yet. The other project I mentioned as you may have guessed was The Base, constructed by the biggest developer in Thailand.

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

During the almost 2 hours I spent there on a Saturday afternoon I didn't see a single person and there were 7 cars parked in total.

For those who don't know, Baan Plai Haad was finished almost a year ago and is absolute beach front.

The lady also pointed me to some other locations in Thailand that were interesting for those who wanted to invest in rental, and she also explained the reasons for it, which I wasn't aware of but completely agreed with.

So I asked her if Sansiri had a project in that area and her answer spoke for itself.

She said Sansiri had land in the area, but at the moment had halted the start of all new projects, because they were struggling with an overstock in unsold units all over Thailand.

Pattaya was still one of the least bad locations, but Bangkok was disastrous according to her.

I see no reason as why she would lie about that, but some posters I already can think of for sure can give me a reason.

Do you know the size of the units offered for 3 million?

They are in the 50 and 60 sqm range.

She told me that the Thais don't want them because that side has sun in the afternoon.

Edited January 10, 2016 by TheCruncher

[newnative]

I'm not a realtor. I probably phrased it poorly when I said the resales I have seen so far for Centric Sea have not seemed very desperate--I meant the prices I have seen still seem to be maintaining well and are not of the desperate sort. Speaking of resales, I would love to see the websites that list 'hundreds' of Centric resales. I'm always interested in learning new websites. As I said earlier, I did a check today of DD Property, a site popular with condo resales/flips, and found just 15. Craigslist, 1 today. Big Mango Realty, one of Pattaya's largest, has 6 listed, the cheapest at 2,625,000 Baht for 28sqm. Not exactly desperation.

[TheCruncher]

I'm not a realtor. I probably phrased it poorly when I said the resales I have seen so far for Centric Sea have not seemed very desperate--I meant the prices I have seen still seem to be maintaining well and are not of the desperate sort. Speaking of resales, I would love to see the websites that list 'hundreds' of Centric resales. I'm always interested in learning new websites. As I said earlier, I did a check today of DD Property, a site popular with condo resales/flips, and found just 15. Craigslist, 1 today. Big Mango Realty, one of Pattaya's largest, has 6 listed, the cheapest at 2,625,000 Baht for 28sqm. Not exactly desperation.

Here are another 23 to add to your list.

http://www.hipflat.co.th/en/pattaya/condo/centric-sea

[ExpatOilWorker]

Correct you are, and add to those 100 you found for resale the over 200 the developer has still for sale while the project is finished already, and you know how serious the situation is.

Now let me add something I didn't yet. The other project I mentioned as you may have guessed was The Base, constructed by the biggest developer in Thailand.

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

During the almost 2 hours I spent there on a Saturday afternoon I didn't see a single person and there were 7 cars parked in total.

For those who don't know, Baan Plai Haad was finished almost a year ago and is absolute beach front.

The lady also pointed me to some other locations in Thailand that were interesting for those who wanted to invest in rental, and she also explained the reasons for it, which I wasn't aware of but completely agreed with.

So I asked her if Sansiri had a project in that area and her answer spoke for itself.

She said Sansiri had land in the area, but at the moment had halted the start of all new projects, because they were struggling with an overstock in unsold units all over Thailand.

Pattaya was still one of the least bad locations, but Bangkok was disastrous according to her.

I see no reason as why she would lie about that, but some posters I already can think of for sure can give me a reason.

Do you know the size of the units offered for 3 million?

They are in the 50 and 60 sqm range.

She told me that the Thais don't want them because that side has sun in the afternoon.

Thanks for the info and good report. That is 50-60% below the hipflat listed price. I am starting to believe the real-estate market in Pattaya is grim.

[ExpatOilWorker]

I'm not a realtor. I probably phrased it poorly when I said the resales I have seen so far for Centric Sea have not seemed very desperate--I meant the prices I have seen still seem to be maintaining well and are not of the desperate sort. Speaking of resales, I would love to see the websites that list 'hundreds' of Centric resales. I'm always interested in learning new websites. As I said earlier, I did a check today of DD Property, a site popular with condo resales/flips, and found just 15. Craigslist, 1 today. Big Mango Realty, one of Pattaya's largest, has 6 listed, the cheapest at 2,625,000 Baht for 28sqm. Not exactly desperation.

What you see listed on various web sites are often totally disconnected from reality and does not reflect actual sales prices. Since there is not cost in listing, owners can post any dream price they may have and just see what happen.

[KittenKong]

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

If I had a shed-load of unsold condos that I was prepared to sell at 50% discount then I would be doing some advertising/marketing to make this widely known, but I see no sign of it anywhere.

A big discount that isn't publicised seems both pointless and unlikely to me.

[TheCruncher]

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

If I had a shed-load of unsold condos that I was prepared to sell at 50% discount then I would be doing some advertising/marketing to make this widely known, but I see no sign of it anywhere.

A big discount that isn't publicised seems both pointless and unlikely to me.

As the lady told me that Baan Plai Haad caters to the Thai market they may probably direct their advertising in that market segment.

I know you try to discredit my comments for some time already, probably you have some sour grapes to swallow with your rental condo, so why don't you ask them yourself if those units are on offer or not.

I can forward you the phone number if you lke.

[KittenKong]

If I had a shed-load of unsold condos that I was prepared to sell at 50% discount then I would be doing some advertising/marketing to make this widely known, but I see no sign of it anywhere.

A big discount that isn't publicised seems both pointless and unlikely to me.

As the lady told me that Baan Plai Haad caters to the Thai market they may probably direct their advertising in that market segment.

I know you try to discredit my comments for some time already, probably you have some sour grapes to swallow with your rental condo, so why don't you ask them yourself if those units are on offer or not.

I can forward you the phone number if you lke.

I own my condo so grapes are not really an issue.

And I dont feel any particular need to discredit you. I'm just saying that if these were my condos I would be advertising the large discount quite widely, regardless of who the building supposedly caters to.

You already pointed out that apparently Thais do not want these units which get the afternoon sun, so it seems obvious to me that they should be promoted to other possible buyers. All the more so if the farang quota is still unsold, which would appear to be the case from what you are saying.

[newnative]

23, ok noted, but so far they don't add up to 'hundreds' of resales. Probably some of your 23 Hipflat might also be listed on DD Property's 15. My partner and I visited Baan Plai Haad sometime ago and it's a nice project with a lot of amenities. The sale mentioned seems like a good deal if a buyer likes that area. I would imagine the sale condos are on lower floors or floors with not the best views--as are The Base condos with prices in the 60-65,000 Baht per sqm range. I'll be the first to agree that there are a glut of condos in some areas--there must be at least a dozen of those huge 8 story 'theme-park' condos finished, going up, or planned, for example. Way too many for the number of buyers interested in that type of condo, I think. It would be beneficial if more builders like Sansiri would stop building in the glut areas until the market catches up in those areas--if it ever catches up. However, I don't think The Base and Centric Sea, the only two affordable new highrise condos with seaviews in an area sorely lacking them, create a glut in central Pattaya.

[TheCruncher]

23, ok noted, but so far they don't add up to 'hundreds' of resales. Probably some of your 23 Hipflat might also be listed on DD Property's 15. My partner and I visited Baan Plai Haad sometime ago and it's a nice project with a lot of amenities. The sale mentioned seems like a good deal if a buyer likes that area. I would imagine the sale condos are on lower floors or floors with not the best views--as are The Base condos with prices in the 60-65,000 Baht per sqm range. I'll be the first to agree that there are a glut of condos in some areas--there must be at least a dozen of those huge 8 story 'theme-park' condos finished, going up, or planned, for example. Way too many for the number of buyers interested in that type of condo, I think. It would be beneficial if more builders like Sansiri would stop building in the glut areas until the market catches up in those areas--if it ever catches up. However, I don't think The Base and Centric Sea, the only two affordable new highrise condos with seaviews in an area sorely lacking them, create a glut in central Pattaya.

Affordable you say? I have another idea about +100K/sqm boxes.

By the way the lady admitted that the prices they ask in Pattaya would only be a wet dream for a similar project in Bangkok.

She cited Lumpini as an example. Lumpini caters to the lower class all over Thailand with their prices, though in Pattaya they are listed at much higher prices, although their project cost is almost similar as in Bangkok.

Located in non attractive areas and same build quality.

[newnative]

'Affordable' is, of course, relative. In central Pattaya, a studio or one bedroom highrise with seaview in the 3MB price range is considered affordable. In comparison, a bigger 1 bedroom at Northshore is in the 7 to 8MB range. Not so affordable for most. Large studios at VT6 are around 4 to 4.5MB. So, in that context, The Base and Centric Sea are affordable relative to what else is available--especially newer build. Some may not want to live in a small box but, clearly, others do. I checked Hipflat, nice site, by the way, and the asking price per sqm for Centric Sea condos listed there is 99,424 Baht and up 4.08% from last year. The Base does even better--102,656 Baht per sqm, but down 0.66% from last year. Asking price and selling price will vary, as one poster noted, but it does serve as a starting point and a barometer as to where prices are at a given time. I find BKK condo prices at excellent locations by a subway station to be just as high as Pattaya and rents are generally lower. As for Lumpini, it's true that they build many projects geared to the lower middle class but not all of them fall into that category. Lumpini Park Beach Jomtien is in an entirely different class. I doubt many Lumpini projects have units in the 12 million baht price range but Park Beach does. Tons of amenities. Skip the 12MB units; the smaller 1 and 2 bedrooms offer better value there. Lots of absentee BKK owners so the complex is rarely busy, except on holiday weekends.

[TheCruncher]

'Affordable' is, of course, relative. In central Pattaya, a studio or one bedroom highrise with seaview in the 3MB price range is considered affordable. In comparison, a bigger 1 bedroom at Northshore is in the 7 to 8MB range. Not so affordable for most. Large studios at VT6 are around 4 to 4.5MB. So, in that context, The Base and Centric Sea are affordable relative to what else is available--especially newer build. Some may not want to live in a small box but, clearly, others do. I checked Hipflat, nice site, by the way, and the asking price per sqm for Centric Sea condos listed there is 99,424 Baht and up 4.08% from last year. The Base does even better--102,656 Baht per sqm, but down 0.66% from last year. Asking price and selling price will vary, as one poster noted, but it does serve as a starting point and a barometer as to where prices are at a given time. I find BKK condo prices at excellent locations by a subway station to be just as high as Pattaya and rents are generally lower. As for Lumpini, it's true that they build many projects geared to the lower middle class but not all of them fall into that category. Lumpini Park Beach Jomtien is in an entirely different class. I doubt many Lumpini projects have units in the 12 million baht price range but Park Beach does. Tons of amenities. Skip the 12MB units; the smaller 1 and 2 bedrooms offer better value there. Lots of absentee BKK owners so the complex is rarely busy, except on holiday weekends.

Isn't that what I said regarding Lumpini? Though you again give it your nice realtor swing.

The construction cost from the Lumpini projects in Pattaya/Jomtien are comparable to those in Bangkok or elsewhere, since they purchase land in less adorable locations and build quality is same, though in Pattaya/Jomtien they list a higher sales price for the same.

Hence condo's are clearly overpriced in this area, and developers and investors speculators are now feeling the heat.

Reason that projects like The Base and Centric have a high booking figure is because they were picked up 3 years ago, at prices 30% and more lower than current list price.

A lot has changed in those 3 years and that is why Centric has still has, and will have for the foreseeable future, more than 20% available straight from developer although it is completely finished already.

Edited January 11, 2016 by TheCruncher

[huawei]

I had a long and fruitful conversation with the sales lady at Baan Plai Haad, which is another project of them.

Over there the developer had discounted entire floors with 50% off list price, because he couldn't find a buyer for the condo's.

Yeah right, from +6 million to just over 3 million. Owners at that project are majority Thais who bought as holiday home.

If I had a shed-load of unsold condos that I was prepared to sell at 50% discount then I would be doing some advertising/marketing to make this widely known, but I see no sign of it anywhere.

A big discount that isn't publicised seems both pointless and unlikely to me.

Not sure. Because then you are undermining the re- sale market. A lot of Sansiri owners are frequent purchases of their condos, wouldn't want to p..s them off.

It will not be a shed load..just some of the less appealing ones..

[KittenKong]

Not sure. Because then you are undermining the re- sale market. A lot of Sansiri owners are frequent purchases of their condos, wouldn't want to p..s them off.

Possibly. Hard to tell.

It will not be a shed load..just some of the less appealing ones..

Mr Cruncher did mention "entire floors" in his post. That sounds like quite a lot to me. I agree that it is unlikely to be the best units in the building.

[TheCruncher]

Not sure. Because then you are undermining the re- sale market. A lot of Sansiri owners are frequent purchases of their condos, wouldn't want to p..s them off.

Possibly. Hard to tell.

It will not be a shed load..just some of the less appealing ones..

Mr Cruncher did mention "entire floors" in his post. That sounds like quite a lot to me. I agree that it is unlikely to be the best units in the building.

If you look at my following post you will understand that "entire floors" is not the best description, more correct would actually be units facing a certain direction, but going from the lady's comments it still concerned a considerable number of units.

[bkk6060]

Just a quick question.

Is it true Thais do not want to buy resales, only new properties?

Someone told me this so I was just wondering.

[TheCruncher]

Just a quick question.

Is it true Thais do not want to buy resales, only new properties?

Someone told me this so I was just wondering.

Yes, all the resales in this immense large country are picked up only by the few foreigners that live here ( sarcasm )

[newnative]

I was pointing out that Lumpini Park Beach Jomtien is a special case for Lumpini projects. It's priced higher because it is, frankly, much nicer and has more amenities on a much larger land area than most Lumpini projects. It's also direct ocean front. Lumpini Seaview, also in Jomtien, is more like their typical green and tan BKK projects. LPN Seaview is advertising small 1 bedrooms of 22 sqm for 999,999 baht and I don't think that price is much different from what it would be in BKK.

[thaibeachlovers]

'Affordable' is, of course, relative. In central Pattaya, a studio or one bedroom highrise with seaview in the 3MB price range is considered affordable. In comparison, a bigger 1 bedroom at Northshore is in the 7 to 8MB range. Not so affordable for most. Large studios at VT6 are around 4 to 4.5MB. So, in that context, The Base and Centric Sea are affordable relative to what else is available--especially newer build. Some may not want to live in a small box but, clearly, others do. I checked Hipflat, nice site, by the way, and the asking price per sqm for Centric Sea condos listed there is 99,424 Baht and up 4.08% from last year. The Base does even better--102,656 Baht per sqm, but down 0.66% from last year. Asking price and selling price will vary, as one poster noted, but it does serve as a starting point and a barometer as to where prices are at a given time. I find BKK condo prices at excellent locations by a subway station to be just as high as Pattaya and rents are generally lower. As for Lumpini, it's true that they build many projects geared to the lower middle class but not all of them fall into that category. Lumpini Park Beach Jomtien is in an entirely different class. I doubt many Lumpini projects have units in the 12 million baht price range but Park Beach does. Tons of amenities. Skip the 12MB units; the smaller 1 and 2 bedrooms offer better value there. Lots of absentee BKK owners so the complex is rarely busy, except on holiday weekends.

What I don't get is why any sane person would pay 3 million for a place in Central Pattaya. Jomptien yes, Naklua yes, but central Pattaya 55555555555555

Pattya was, is and always will be a 'hole with a crappy beach, terrible traffic, appalling infrastructure and a City Hall running it into the ground with inappropriate overdevelopment, while trying to persuade the masses that it is a world class tourist destination, which it is not and never will be.

Even the richest person has, at some stage, to emerge from their concrete habitat and face the reality, unless they start building helipads on top of the condos.

[TheCruncher]

'Affordable' is, of course, relative. In central Pattaya, a studio or one bedroom highrise with seaview in the 3MB price range is considered affordable. In comparison, a bigger 1 bedroom at Northshore is in the 7 to 8MB range. Not so affordable for most. Large studios at VT6 are around 4 to 4.5MB. So, in that context, The Base and Centric Sea are affordable relative to what else is available--especially newer build. Some may not want to live in a small box but, clearly, others do. I checked Hipflat, nice site, by the way, and the asking price per sqm for Centric Sea condos listed there is 99,424 Baht and up 4.08% from last year. The Base does even better--102,656 Baht per sqm, but down 0.66% from last year. Asking price and selling price will vary, as one poster noted, but it does serve as a starting point and a barometer as to where prices are at a given time. I find BKK condo prices at excellent locations by a subway station to be just as high as Pattaya and rents are generally lower. As for Lumpini, it's true that they build many projects geared to the lower middle class but not all of them fall into that category. Lumpini Park Beach Jomtien is in an entirely different class. I doubt many Lumpini projects have units in the 12 million baht price range but Park Beach does. Tons of amenities. Skip the 12MB units; the smaller 1 and 2 bedrooms offer better value there. Lots of absentee BKK owners so the complex is rarely busy, except on holiday weekends.

What I don't get is why any sane person would pay 3 million for a place in Central Pattaya. Jomptien yes, Naklua yes, but central Pattaya 55555555555555

Pattya was, is and always will be a 'hole with a crappy beach, terrible traffic, appalling infrastructure and a City Hall running it into the ground with inappropriate overdevelopment, while trying to persuade the masses that it is a world class tourist destination, which it is not and never will be.

Even the richest person has, at some stage, to emerge from their concrete habitat and face the reality, unless they start building helipads on top of the condos.

Wrong thread mate, the I hate Pattaya thread is located elsewhere.

[loppylugs1]

I was pointing out that Lumpini Park Beach Jomtien is a special case for Lumpini projects. It's priced higher because it is, frankly, much nicer and has more amenities on a much larger land area than most Lumpini projects. It's also direct ocean front. Lumpini Seaview, also in Jomtien, is more like their typical green and tan BKK projects. LPN Seaview is advertising small 1 bedrooms of 22 sqm for 999,999 baht and I don't think that price is much different from what it would be in BKK.

It all looks a load of crap anyway

ps I did indeed take a second and even third look at the Centric Sea over Christmas period,and yes indeed it was not as you stated, going to be full dead as a dodo,not one extra light showing ,8 at the rear, I would say that place is in serious trouble

[TheCruncher]

I was pointing out that Lumpini Park Beach Jomtien is a special case for Lumpini projects. It's priced higher because it is, frankly, much nicer and has more amenities on a much larger land area than most Lumpini projects. It's also direct ocean front. Lumpini Seaview, also in Jomtien, is more like their typical green and tan BKK projects. LPN Seaview is advertising small 1 bedrooms of 22 sqm for 999,999 baht and I don't think that price is much different from what it would be in BKK.

22 sqm is that directed at the investors that are looking to have a place for their dog?

[thaibeachlovers]

'Affordable' is, of course, relative. In central Pattaya, a studio or one bedroom highrise with seaview in the 3MB price range is considered affordable. In comparison, a bigger 1 bedroom at Northshore is in the 7 to 8MB range. Not so affordable for most. Large studios at VT6 are around 4 to 4.5MB. So, in that context, The Base and Centric Sea are affordable relative to what else is available--especially newer build. Some may not want to live in a small box but, clearly, others do. I checked Hipflat, nice site, by the way, and the asking price per sqm for Centric Sea condos listed there is 99,424 Baht and up 4.08% from last year. The Base does even better--102,656 Baht per sqm, but down 0.66% from last year. Asking price and selling price will vary, as one poster noted, but it does serve as a starting point and a barometer as to where prices are at a given time. I find BKK condo prices at excellent locations by a subway station to be just as high as Pattaya and rents are generally lower. As for Lumpini, it's true that they build many projects geared to the lower middle class but not all of them fall into that category. Lumpini Park Beach Jomtien is in an entirely different class. I doubt many Lumpini projects have units in the 12 million baht price range but Park Beach does. Tons of amenities. Skip the 12MB units; the smaller 1 and 2 bedrooms offer better value there. Lots of absentee BKK owners so the complex is rarely busy, except on holiday weekends.

What I don't get is why any sane person would pay 3 million for a place in Central Pattaya. Jomptien yes, Naklua yes, but central Pattaya 55555555555555

Pattya was, is and always will be a 'hole with a crappy beach, terrible traffic, appalling infrastructure and a City Hall running it into the ground with inappropriate overdevelopment, while trying to persuade the masses that it is a world class tourist destination, which it is not and never will be.

Even the richest person has, at some stage, to emerge from their concrete habitat and face the reality, unless they start building helipads on top of the condos.

Wrong thread mate, the I hate Pattaya thread is located elsewhere.

Not the wrong thread at all. I love Pattaya. I have loved Pattaya since the first day I sat on the back of a baht bus rolling down Beach Rd, looking at all the barbeers and the hordes of cute girls. Well there may be less barbeers and less cute girls now, but I still love it ( the new walkway not so much ).

I love that it's a 'hole, because that kept the developers away for a long time. Unfortunately even that hasn't stopped the money men trying to ruin it now. I guess they ran out of other places to ruin in LOS.

Nah, I love Pattaya but I hate the money men building their horrid condos to sell, so yes the right thread.

All the posts on this thread about how the condo market in Pattaya has turned into a pile of stinking crud makes me really, really happy.

If it all falls down, as I hope, I might even be able to move back there.

Just to be clear, I have no objections to condos in Jomptien, or Naklua or anywhere else, come to it, just in Pattaya from Dolphin/ North Rd to the hill and from 3rd Rd to the beach. By all means build build build. Then the prices will come down and mongers will be able to get cheaper hotels in Fun City.

Edited January 11, 2016 by thaibeachlovers

[newnative]

Actually, plenty of people would like to live in central Pattaya, including my partner and me. VT6 and Northshore have been successful. We lived in Pratamnack and we lived in Jomtien. Both are fine, I think, for part-timers. We live here year-round and driving into Pattaya 3 and 4 times a week to do things just got to be too much with the traffic. So we moved into town and like it. (You can live in Pattaya and actually not set foot in a bar.)

On other matters, yes a 22 sqm condo is indeed small but I would have loved a tiny getaway place like that at the beach when I was working in USA. Couldn't afford it--but lots of BKK residents can and they have probably been the main buyers. For example, we met a Thai female BKK college professor who bought one of the 22sqm units and she comes on weekends and goes back Monday mornings. It's not always just about farangs.

Now, that guy isn't STILL counting the lights on to determine the well-being of a condo is he? So, 8 lights on at the rear--uhh, those are the ones facing east with no seaview that are going to be the last to sell. Instead, why doesn't he count the number of balconies with underwear drying? That would be about as scientific. I think 80% sold in a difficult market is a good track record for a condo open only a few months. Many other condos, like VT7 open 5 years now and the back wings almost empty, would like that sales rate.