Wongamat Beach

[theguyfromanotherforum]

Hi

 

I live in BKK, but will sometimes go to Pattaya with my wife when she has days off work. I am thinking about buying a condo on Wongamat beach. First I had a Lumpini on jomtien in mind because I can access it with baht truck to the city center, however, I am completely unfamiliar with Wongamat.  It seems like a nicer beach, condos are also nicer and it's closer to the city. How about the access with public transport or is it taxi only?

[guzzi850m2]

I like the Wongamat area, lots of big green tress around but the most expensive area for land prices which will make condo's more expensive as well. The Russians living there are generally high earners which in turn (generally) makes them more civilized and not the sometimes not so civilized ones living in the <30M3 shoe-boxes in Jomtien. 

 

How come you you want to buy a condo in an area you are not familiar with?

 

On Naklua road the baht buses are plentiful but if you stay down by the beach, that is some distance away.

 

I live in the Naklua area myself (house in a village) and it's my preferred area in Pattaya, lots of very good German restaurants on Naklua and they serve high quality food considered the price. Okay we are very mobile and often rides/drives out to Jomtien for a walk on the beach or some food but I would not like to live there, clogged up with traffic in the weekends and holidays among other things.   

[theguyfromanotherforum]

Thanks for that.

 

Like I said, we live in BKK and due to wife's job she can not travel great distances for vacation. So, Pattaya is really the closest vacation spot. I was looking at The Palm, so I guess yes... it's close to the beach which means transport would be difficult? The 32sqm studio goes for 3.1 with a sea view. Is that about the price I am expected to pay there? 

 

I usually stay in nice hotels there, but I am bored with restrictions. I want to check in and check out on my own time sort of speak. Shoebox is not an issue since we won't be living there.

[guzzi850m2]

3.1 mill for a 32m3 studio, is that in Miami?

If I understand you correctly, you are not working yourself? If not, then I suggest that you do some more field trips and carefully check out all the areas you are interested in.

Go and live in the area, the longer the better so you get a fell for the area.

The amount of condo's for sale here is staggering, people can't sell them for the price they paid themselves unless they bought in a good quality condominium in a good area and at a good price.

 

It's buyers market now big time, so if I was you I would go visit all the condominiums in the areas I am interested in, talk to the people living there, looking at the general maintenance of the building/garden area, ask if any units for sale and if you can have a look. Don't trust the rose-garden talk from the real estate sellers but do your own careful leg work.

We did just that when we decided to buy a house here, literally spend months riding around and visiting one village after the other and eventually bought a unfinished house from the developer in our current village and are now living in a bigger house in same village. No real estate brokers were involved in that process.    

[newnative]

Yes, 3.1MB for 32sqm--and, sometimes, a lot more than that for new condos. You can also pay under 1MB for 32sqm new condos.  Location, location, location. And, also, seaview, seaview, seaview. 

[theguyfromanotherforum]

23 hours ago, guzzi850m2 said:

3.1 mill for a 32m3 studio, is that in Miami?

 

 

 

Hmmm, I just checked Miami condos and boy did they go up since financial crisis. Property taxes also went through the roof.

 

I bet a lot of Chinese owners/flippers are happy.

 

The one lesson stupid foreigners should learn is never to sell real estate on the cheap. I missed the boat on in USA and I missed the boat in Thailand. I have seen condos in Bangkok being sold for over 20 years and every year the price goes up. The inside of the condo looks like a museum.... never lived in with original new furniture intact.  

 

Yep.... I would say the transfer of wealth for the elitists was quite a success.

[mcfish]

 
 
Hmmm, I just checked Miami condos and boy did they go up since financial crisis. Property taxes also went through the roof.
 
I bet a lot of Chinese owners/flippers are happy.
 
The one lesson stupid foreigners should learn is never to sell real estate on the cheap. I missed the boat on in USA and I missed the boat in Thailand. I have seen condos in Bangkok being sold for over 20 years and every year the price goes up. The inside of the condo looks like a museum.... never lived in with original new furniture intact.  
 
Yep.... I would say the transfer of wealth for the elitists was quite a success.

And for 20 years On TV the barstool mantra has been never buy in Thailand! How wrong did they get that! Bangkok condo's next to Nana and asoke bts have skyrocketed and still the TV experts drone on with the same drivel knowing full well they are priced out the market

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[SaintLouisBlues]

1 minute ago, mcfish said:

Bangkok condo's next to Nana and asoke bts have skyrocketed

How long before they fall down because of typical Thai building standards and non-existent preventative maintenance?

[SaintLouisBlues]

1 minute ago, mcfish said:

This is simply not true and just another mantra. 10 years on we still have out standing management and just had a full refurbished lobby and finger print scanners to be installed through out, immaculate gym and pool.

So you've got one example. How does that make it generally true?

Edited November 2, 2016 by SaintLouisBlues

[mcfish]

1 hour ago, SaintLouisBlues said:

How long before they fall down because of typical Thai building standards and non-existent preventative maintenance?

 

 

This is simply not true and just another mantra. 10 years on we still have out standing management and just had a full refurbished lobby and finger print scanners to be installed through out, immaculate gym and pool.

30 years ago it may have been a different story but things have changed and corrupt management are phasing out

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[mcfish]

So you've got one example. How does that make it generally true?

Because I have many friends over 10 ten years scattered around both renters and owners. People renting for 4k living where hookers do are 30 year old buildings that are in disrepair, but that's the way it was being scamed by managent.. They are the moaners shouting it out every bar

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[SaintLouisBlues]

4 minutes ago, mcfish said:

Because I have many friends over 10 ten years scattered around both renters and owners. People renting for 4k living where hookers do are 30 year old buildings that are in disrepair, but that's the way it was being scamed by managent.. They are the moaners shouting it out every bar

"Many" does not make something generally true. By "generally" I mean the 80/20 rule applies. I've lived in several places in Bangkok. I currently live in one of those jerry-built places that were thrown together after the 1997 down-turn, having been a skeleton for a number of years. The rent is a significant multiple of the 4K figure you suggest. I would never buy here, but until I'd actually lived here and realized how things are I couldn't have made an informed decision

 

I've only found out the history of the building piecemeal over several years. One or other of the elevators is always being "maintained", often for weeks at a time. Superficially you'd think there's nothing wrong with the place, but some research shows the history of both sales and rental yields over the years - no capital appreciation (the only reason to buy IMHO), no rental growth. Rents are less than the carrying costs (ie. mortgage interest and other outgoings) on every building I've ever investigated here. BTW no hookers live here (except the ones who've landed a regular ATM and have moved in), I'm not moaning and I don't shout things out in bars. Even though I am an American I do know how to behave when in company, and besides my Care Factor approximates zero. Oh, and the management company is clearly running some sort of tax scam, as I now have to pay all of my rent & utilities in cash, whereas I could previously deposit into their bank account, which they have now closed. BTW it's right next door to a mass-transit station (ie. one of BTS/MRT/BRT) so somewhat analogous to your situation

[mcfish]

"Many" does not make something generally true. By "generally" I mean the 80/20 rule applies. I've lived in several places in Bangkok. I currently live in one of those jerry-built places that were thrown together after the 1997 down-turn, having been a skeleton for a number of years. The rent is a significant multiple of the 4K figure you suggest. I would never buy here, but until I'd actually lived here and realized how things are I couldn't have made an informed decision

 

I've only found out the history of the building piecemeal over several years. One or other of the elevators is always being "maintained", often for weeks at a time. Superficially you'd think there's nothing wrong with the place, but some research shows the history of both sales and rental yields over the years - no capital appreciation (the only reason to buy IMHO), no rental growth. Rents are less than the carrying costs (ie. mortgage interest and other outgoings) on every building I've ever investigated here. BTW no hookers live here (except the ones who've landed a regular ATM and have moved in), I'm not moaning and I don't shout things out in bars. Even though I am an American I do know how to behave when in company, and besides my Care Factor approximates zero. Oh, and the management company is clearly running some sort of tax scam, as I now have to pay all of my rent & utilities in cash, whereas I could previously deposit into their bank account, which they have now closed. BTW it's right next door to a mass-transit station (ie. one of BTS/MRT/BRT) so somewhat analogous to your situation

I guess you got unlucky and really should move . Most of your post is completely wrong by the way as I'm currently renting mine out for several months on air bnb for a phenomenal return while I travel and in 10 years there has been brilliant second hand sales buts all about location location location!! Actually the rent return is so good I will never sell, I'm only annoyed I didn't buy 2 when I had the chance but to late now

Silly people make silly purchases the world over but that's the way it's. I'm smack in the middle of Nana and asoke!

Leave you to it, It was nice sparring but I'm off for some lunch

Ps

When looking for a rental it's not difficult to spot the mainatance

A good inspection of pool and gym for starters will tell you a lot, take your time and inspect the room for mildew, bathrooms for water leaks. Look at the roof for damp areas, check the taps for water pressure, look in all the cupboards for mildew dampness, look under the sinks, look at the lobby area for grime and dirt, do the lounges have holes or look drab by etc etc.

It's common sense really

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[SaintLouisBlues]

5 minutes ago, mcfish said:

I guess you got unlucky and really should move . Most of your post is completely wrong by the way as I'm currently renting mine out for several months on air bnb for a phenomenal return while I travel and in 10 years there has been brilliant second hand sales buts all about location location location!! Actually the rent return is so good I will never sell, I'm only annoyed I didn't buy 2 when I had the chance but to late now

I should have thought the comment "my Care Factor approximates zero" would have been some sort of clue that I don't regard myself as "unlucky". As for AirBNB, isn't there a thread somewhere recently on TV about using your apartment for AirBNB is illegal for foreigners as it constitutes running a business? In any event, AirBNB is not a "typical" investment return as you are using your property of commercial, not residential purposes. Yet another example where you're trying to extrapolate to everyone's situation from your unusual circumstances

[mcfish]

I should have thought the comment "my Care Factor approximates zero" would have been some sort of clue that I don't regard myself as "unlucky". As for AirBNB, isn't there a thread somewhere recently on TV about using your apartment for AirBNB is illegal for foreigners as it constitutes running a business? In any event, AirBNB is not a "typical" investment return as you are using your property of commercial, not residential purposes. Yet another example where you're trying to extrapolate to everyone's situation from your unusual circumstances

You just shot yourself in the foot buddy and lost all credibility

Air bnb is not illegal for foreigners and it's not a business, your research is very poor . I rented mine out for 2 years while living in Europe so that constitutes long term and air bnb is sensational for shorter term, 2 great option's now

You're a renter and always be ripping up dead money and always will be it's how the poor stay forever poor! But don't stop we need and like you. the more renters out there the better,!! You couldn't even check out your condo properly before wracking down a lease.. Says it all really. See my edit above, it's there to help you

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[newnative]

It's legal to use Airbnb for rentals of periods of a month or more in Thailand.  If you are posting rentals of less than a month and renting for less than a month you are in violation of the Thai Hotel Act--and likely your condo bylaws.  Many condos have started crackdowns on the illegal daily and weekly rentals.

[Leonardlp1974]

Everyone knows it's illegal for short term yet Jo of condos is in on it. Wongamat is an excellent location . Quiet serene and cleaner than central pats or jometiam yet near near for anything else. and also near the bus station bak BKK.

 

But prices are def exp. Beach front is now in excessof 150000b psm. 

 

Only fault I can find is hi price plus need own transport to gett in and out of area. Baht bus onli take  passengers as taxi rates. 

[mcfish]

7 minutes ago, newnative said:

It's legal to use Airbnb for rentals of periods of a month or more in Thailand.  If you are posting rentals of less than a month and renting for less than a month you are in violation of the Thai Hotel Act--and likely your condo bylaws.  Many condos have started crackdowns on the illegal daily and weekly rentals.

exactly and its also not illegal for foreigners  and doesn't constituent a business as mentioned above. its poor research and then repeated mantra style over and over until its becomes "fact" lol

[NanLaew]

5 hours ago, theguyfromanotherforum said:

... The one lesson stupid foreigners should learn is never to sell real estate on the cheap. I missed the boat on in USA and I missed the boat in Thailand.  I have seen condos in Bangkok being sold for over 20 years and every year the price goes up. The inside of the condo looks like a museum.... never lived in with original new furniture intact.  

 

Yep.... I would say the transfer of wealth for the elitists was quite a success.

I agree that there's a lot of very wealthy Thai condo owners sitting on older properties  in and around Sukhumvit and Asoke that are asking unrealistic rental rates for units that they bought and fitted out about 20 years ago. They have deep enough pockets to let them sit empty for years. The only one who had a clue was a guy who snapped up about half a dozen 2-bed and 3-bed units in the same 'legacy' condo, totally gutted them and had them refurbished and refitted to very desirable, modern standards. They were being snapped up as soon as they were completed. He was a foreigner.

[hobobo]

Plenty of Baht taxis down Soi 16 Naklua Road (from the temple to the beach), but all other sois don't have them. Metered taxis (don't know why we call the this since they NEVER switch them on) ask ridiculus prices. Once you are on Naklua Road Baht taxis are very frequent.

[newnative]

Wish there was better public transportation down by the beach where all the new condos are--maybe it will happen at some point with all the new residents there.

[The manic]

motosai to main road the baht bus. Coming back from town

 Baht bus to soi then walk or motosai backbone beach area. I lived there for a month last November. Depressing and noisy. Round the clock construction-bars and restaurants mainly empty. Insipid Thai food to meet the needs of Russian palates. I was on soi 16 and sometimes the traffic was backed up all the way from Dolphin Roundabout to Soi 16 or 18.

[newnative]

No motorcycle taxis, thank you very much.  That's not public transportation in my book, especially on a rainy day.

[GWS]

Lived in Wongamat which is a good area but personally Pratumnak Hill/Cozy beach is the best for location.

[champers]

To answer the OP's query: Lumpini have 3 tower blocks of condos just off Pattaya  Naklua road, walking distance to Wong Amat. Lumpini Ville.

[Smokin Joe]

On 11/1/2016 at 10:56 AM, newnative said:

Yes, 3.1MB for 32sqm--and, sometimes, a lot more than that for new condos. You can also pay under 1MB for 32sqm new condos.  Location, location, location. And, also, seaview, seaview, seaview. 

 

You should visit the area and look around. The beachfront condo just before The Palm is an older one named Siam Penthouse. It's got a couple of 64 sqm 2BR condos listed for about 3.6MB. All units are seaview.

[WaywardWind]

On 11/2/2016 at 1:02 PM, Leonardlp1974 said:

Everyone knows it's illegal for short term yet Jo of condos is in on it. Wongamat is an excellent location . Quiet serene and cleaner than central pats or jometiam yet near near for anything else. and also near the bus station bak BKK.

 

But prices are def exp. Beach front is now in excessof 150000b psm. 

 

Only fault I can find is hi price plus need own transport to gett in and out of area. Baht bus onli take  passengers as taxi rates. 

Not accurate: the only beachfront condo project with current asking prices in excess of 150,000 THB is Northpoint.

The others: Sarancol, Sky Beach, Zire, Park Beach, Wong Amat Tower, Silver Beach, and The Palm are currently less.

https://www.hipflat.co.th/en/pattaya/condo-north-pattaya

Edited November 3, 2016 by WaywardWind

[newnative]

True, less than 150,000 Baht a sqm but still pricey. Palm and Zire are around 138,000 Baht a sqm and Baan Plai Haad is around 140,000 according to Hipflat.  Not quite the same area but The Cove is around 167,000 Baht sqm.