Will Terminal 21 coming to Pattaya impact on property prices?

[Wasa]

With Terminal 21 coming to Pattaya North, does anyone think this will push up surrounding property prices, specifically around the Pattaya North and Naklua areas? I'm contemplating buying a condo in one of the more upmarket established condos around Naklua where I have spent the last three years renting.

These condos are not your generic shoeboxes that are springing up everywhere else, obviously they are older but tend to better built, bigger, well serviced and maintained.

Just wondering if the new mall has potential to impact nearby property prices or not ......

[shirtless]

it could bump prices up , but dont hold your breath.

[ageless1]

better off renting by far, why would you want to buy?

[Jingthing]

Maybe if it was really close.

This isn't Bangkok with a skytrain.

I would be doubtful though.

I live in an area where the IMMEDIATE surrounding area has MASSIVELY improved in the last decade, and my condo value has not really gone up at all.

[Wasa]

better off renting by far, why would you want to buy?

I am well aware of all the arguments for and against buying. I'm not a wide eyed newbie fresh off the plane and in lust, I have actually lived in the area for a few years and know the area inside out along with all the pros and cons.......

Renting tends to get tedious after a while. Never worried me when I was younger, but I believe we all want to call some place home and now being in my late fifties I want to have a small base in Pattaya and similar back in Aussie on the Sunshine Coast. In a few years I will eventually work online as a consultant in my specialized area of engineering and I want to be able to flit between the two locations as required. I want to be able to just pull the door shut and leave from each one without having to pack or worry about anything, and able to walk back in to either and start work within minutes. Renting doesn't suit this lifestyle.

I'm not in a hurry either. Currently working in the Philippines, I can afford to just sit back and wait for the right one to come along. The condos I am looking at are beachfront, very quiet, not shoeboxes, solid and secure and for that I will pay a premium, which I'm ok with. I would never purchase in one of the poor quality mass produced shoeboxes that are springing up around the place.

I'm not overly motivated by money either, its really just the lifestyle I'm looking for. If it doesn't go up well so be it, at least I'm not handing over rent money each month. The only reason I asked about prices increasing was general curiosity and to do with the timing of my purchase.

[syke1912]

Where is this complex in development located?

[Wasa]

Where is this complex in development located?

On Pattaya Nua, just east of the Dolphin roundabout and 2nd Rd intersection. You can see the site, it is in early development now.

[anto]

The OP might be thinking of buying into one of the Condos i lust over .Two of the same design (art decko ,white ,with huge balcony ) ,absolute beach front , in Naklua .

[anto]

Seems not ,as the ones i mentioned are maybe 25 years old .

[ageless1]

If you aren't motivated by cost and are prepared to pay a premium for long term use why haven't you bought already? Every month's rent is a waste when it seems your mind has already been made up. From what you say is your purpose in buying, the condo's worth will eventually be realized by your beneficiaries whoever they might be so a bit more or less won't matter?

[Wasa]

The OP might be thinking of buying into one of the Condos i lust over .Two of the same design (art decko ,white ,with huge balcony ) ,absolute beach front , in Naklua .

Yep, that's it. I lived in one of those for two years. Built in 1993.

Great design with full height atrium, all doors open out into fresh air, so you are never in those enclosed hot hallways that are in every other condo.

But they are getting on and if they haven't been renovated already you need to be prepared to spend money to freshen them up.

They are not cheap.

[anto]

Yes ,one of them is called Park Beach .As you say ,big money ......

Edited April 17, 2016 by anto

[LennyW]

555! Clutching at straws now! The additional impact on the infrastructure would surely suggest discounted prices in the immediate vacinity.

[Halfaboy]

You can expect the traffic problems on Naklua Road and Pattaya Nua to increase (as far as possible). Especially on Thai holidays.

[Seizetheday]

I wouldn't buy a condo in a resort town to make money, buy a condo in Pattaya because you want a home, your home.

[SidJames]

I brought my nippers there for the first time today & was mightily impressed with the kidzone on the 7th floor.

Pattaya's been crying out for something like this.

Seen similar in the US.

This ticked all the boxes for me & we'll be regulars there even though it's far pricier than other Pattaya options.

Hat's off to them.

Didn't try any restaurants as mine were so shattered from running around that it was straight home for a wonderfully long afternoon snooze for whole family.

That was worth the entrance fee alone imo.

[anto]

I brought my nippers there for the first time today & was mightily impressed with the kidzone on the 7th floor.

Pattaya's been crying out for something like this.

Seen similar in the US.

This ticked all the boxes for me & we'll be regulars there even though it's far pricier than other Pattaya options.

Hat's off to them.

Didn't try any restaurants as mine were so shattered from running around that it was straight home for a wonderfully long afternoon snooze for whole family.

That was worth the entrance fee alone imo.

You what ? ..Think you posted on the wrong thread .

[AlexRich]

I've contemplated buying a condo just to have my own place but don't see a condo in Thailand as a credible investment, like my home country. Given the continued supply in Pattaya I'm sceptical that Terminal 21 would make much, if any, difference. I'm sure that many estate agents will take a different view, but then, they would, wouldn't they?

If i ever decide to do so it will be with money I can afford to lose. You never know when the rules and regulations change in a country like Thailand.

[AlexRich]

I brought my nippers there for the first time today & was mightily impressed with the kidzone on the 7th floor.

Pattaya's been crying out for something like this.

Seen similar in the US.

This ticked all the boxes for me & we'll be regulars there even though it's far pricier than other Pattaya options.

Hat's off to them.

Didn't try any restaurants as mine were so shattered from running around that it was straight home for a wonderfully long afternoon snooze for whole family.

That was worth the entrance fee alone imo.

You what ? ..Think you posted on the wrong thread .

I think he is referring to Kidzone in Century 21, probably in Bangkok. He likes Century 21 and thinks it would be a positive addition to Pattaya. Well, that's how I read it?

[OMGImInPattaya]

I doubt it...the Centrally Beach mall had little to no impact on condo prices in town so why would another new mega-mall. It might make the area more or less desirable, depending on one's view of traffic and development but a sustained increase in prices I don't think so.

[SidJames]

I brought my nippers there for the first time today & was mightily impressed with the kidzone on the 7th floor.

Pattaya's been crying out for something like this.

Seen similar in the US.

This ticked all the boxes for me & we'll be regulars there even though it's far pricier than other Pattaya options.

Hat's off to them.

Didn't try any restaurants as mine were so shattered from running around that it was straight home for a wonderfully long afternoon snooze for whole family.

That was worth the entrance fee alone imo.

You what ? ..Think you posted on the wrong thread .

You're right fella I did.

I was actually referring to Harbour Mall.

[Wasa]

I wouldn't buy a condo in a resort town to make money, buy a condo in Pattaya because you want a home, your home.

Yep exactly the way I have explained it earlier. I'm not too fussed about it making money, I will have a home base back in Aussie that'll take care of that side of things.

Hopefully it won't go backwards......

I'm just looking for a home base in Pattaya & Oz where I can come and go by simply pulling the front door shut.

I'll divide my time between the two, renting does not really suit this arrangement.

[Wasa]

I've contemplated buying a condo just to have my own place but don't see a condo in Thailand as a credible investment, like my home country. Given the continued supply in Pattaya I'm sceptical that Terminal 21 would make much, if any, difference. I'm sure that many estate agents will take a different view, but then, they would, wouldn't they?

If i ever decide to do so it will be with money I can afford to lose. You never know when the rules and regulations change in a country like Thailand.

No body knows what the future holds. But if you spend all of your time frozen in inaction you won't achieve anything. The best guide we have to the limited future ahead that is our remaining lifespan (beyond that who cares?) is to look back in to the past. History shows us that despite all of the recent upheavals, successive governments have been reasonable in their handling of foreigners and property ownership and that property values have generally trended up.

And yes, the loss of a property in Thailand due to some kind of radical government action would not be a deal breaker for me. It would hurt of course, but I would survive financially.

[Wasa]

If you aren't motivated by cost and are prepared to pay a premium for long term use why haven't you bought already? Every month's rent is a waste when it seems your mind has already been made up. From what you say is your purpose in buying, the condo's worth will eventually be realized by your beneficiaries whoever they might be so a bit more or less won't matter?

Gawd, there's always someone on TV who wants to conduct a cross examination! Even on a relatively innocuous subject such as my OP.

I don't have to justify my past actions, except to say that up until this point I have been happy enough to just rent. That's it, up until this point.

I'm not retired and don't just sit inside a condo all day, so it is not a pressing priority.

Recently took up an indefinite contract in the Philippines where the company pays for my accommodation, so I am not paying rent and I can afford to sit back and take my time. Eventually, in the not too distant future, I intend to finish full time work and work as a consultant, basing myself back in Pattaya and part time in Aussie.

And yes, you're correct, a little more or less won't matter, it's just that I'm not in any particular rush. I was just wondering out loud that's all.

[JMWPACIFIC]

I've contemplated buying a condo just to have my own place but don't see a condo in Thailand as a credible investment, like my home country. Given the continued supply in Pattaya I'm sceptical that Terminal 21 would make much, if any, difference. I'm sure that many estate agents will take a different view, but then, they would, wouldn't they?

If i ever decide to do so it will be with money I can afford to lose. You never know when the rules and regulations change in a country like Thailand.

You're correct! Once your money is in, it's in for good.

[KittenKong]

I think there can be little doubt that a new mall will attract people to Pattaya, but will they be the sort of people who buy condos? And will they outweigh the number of people who will be put off coming to Pattaya because of the excess traffic caused by new malls?

As for whether it is worth buying in the first place: I own a condo here but never in a million years would I ever have more than 10% of my net worth in Thailand (condo, furniture, car, bank deposits). I simply dont trust them enough.

[ageless1]

Conduct a cross examination?....Gawd!! You're a bit overly sensitive about someone applying logic to your own expressed words aren't you??

Jump in man, don't procrastinate or waste rent money any longer! If prices go up you're a winner and if they don't it won't matter either as you aren't worried about money anyway!

[AlexRich]

I've contemplated buying a condo just to have my own place but don't see a condo in Thailand as a credible investment, like my home country. Given the continued supply in Pattaya I'm sceptical that Terminal 21 would make much, if any, difference. I'm sure that many estate agents will take a different view, but then, they would, wouldn't they?

If i ever decide to do so it will be with money I can afford to lose. You never know when the rules and regulations change in a country like Thailand.

No body knows what the future holds. But if you spend all of your time frozen in inaction you won't achieve anything. The best guide we have to the limited future ahead that is our remaining lifespan (beyond that who cares?) is to look back in to the past. History shows us that despite all of the recent upheavals, successive governments have been reasonable in their handling of foreigners and property ownership and that property values have generally trended up.

And yes, the loss of a property in Thailand due to some kind of radical government action would not be a deal breaker for me. It would hurt of course, but I would survive financially.

Yes, and that's why I said that if I ever decide to do it it will be with money I'm okay about losing (in the sense that I might not make a profit on resale, and probably make a loss) ... you asked about property values, my point was that I would consider the purchase expenditure on a depreciating asset rather than an investment. I didn't say don't do it. My comment regarding regulations covered the higher risk compared to Australia.

[Just Curious]

The OP might be thinking of buying into one of the Condos i lust over .Two of the same design (art decko ,white ,with huge balcony ) ,absolute beach front , in Naklua .

Three actually. Sky Beach, Park Beach and Silver Beach.

[angy]

a new big mall in that place can only put the rice of the condo down, not too much but the increase in the traffic will discourage new owner of condos.

For put up the value of the condos in my view need less traffic, maybe new roads that is impossible to make there. Other value add can be obtained with regulation on the pollution generated buy the buses and old cars/sontao, and strictly control the used water flowing from the town to the seaside.