Many constructions are left half finished since Russians left . very sad.

[swissmaninthailand]

I think it s real sad to see all these building unfinished. In my area I can see probably 6 or 7 buildings that are left abandoned.

What it tell you.? When it s going to restart.

[sanemax]

Im not sure whether its due to the Russians 

There are many half built buildings all over Thailand

[kannot]

Close to Hua  Hin mile after mile of shophouses, most empty, yet they still build them, stupidity knows  no bounds..money to burn more money than sense?

[sanemax]

Thais quite often fund the building of buildings .

By obtaining enough money to build some of the building , then selling those condos to fund the rest of the building works .

   If those condos dont sell, then theres no more funds for the rest of the building work

[scubascuba3]

Golden Tulip on Soi 15 Pattaya has stalled so even affects city centre

[joepattaya1961]

13 minutes ago, scubascuba3 said:

Golden Tulip on Soi 15 Pattaya has stalled so even affects city centre

Still under construction, although not as fast as planned; estimated date of completion: June-July 2018

 

[dannywla]

Southpoint has only a handful of Cambodian working daily.  This project is taking 3-4 years to complete.  Really sad for those who put a deposit as I almost did 30 months ago.  

 

I know the condo market is very bad and there are very few buyer for New or resale.  My condo is listed for over a year not even one prospect. 

 

 

[petermik]

Never buy off plan condos/apartments..............how many times have I heard that

[scubascuba3]

Still under construction, although not as fast as planned; estimated date of completion: June-July 2018
 

I'm not sure i believe that, i walk past every day and there is very little work, as a guess 95% stopped. Maybe they are planning for a big step up.

[petermik]

7 hours ago, scubascuba3 said:

I'm not sure i believe that, i walk past every day and there is very little work, as a guess 95% stopped. Maybe they are planning for a big step up.

Thai,s do not plan

[silverbird]

I was there last week (Golden Tulip), indeed the construction has stopped.

From the information I got, it seems that the construction company stopped working on this project and the developper is looking for a new construction firm.

Getting nervous, since I bought a unit there....hope it will resume soon.

My gut feeling is that they will not finish before 2019.

[bkk6060]

Everyone says: Buy a condo, buy a condo!!.. What a stupid thing to do...

[sanemax]

1 hour ago, silverbird said:

I was there last week (Golden Tulip), indeed the construction has stopped.

From the information I got, it seems that the construction company stopped working on this project and the developper is looking for a new construction firm.

Construction companies usually only down tools if they do not get paid

If the developer doesnt have the money to pay the original construction company, they will not be able to get another one into complete the job

[Kwasaki]

Yeah go on blame the Russians everyone else is. 

[silverbird]

2 hours ago, sanemax said:

Construction companies usually only down tools if they do not get paid

If the developer doesnt have the money to pay the original construction company, they will not be able to get another one into complete the job

 

Damn, this means they probably won't finish it. Already paid 65% of the whole price.

Was informed that foreign ownership is sold out and roughly 70% total sold.

I thought with such a central location it could not go wrong....sad news.

[scubascuba3]

 
Damn, this means they probably won't finish it. Already paid 65% of the whole price.
Was informed that foreign ownership is sold out and roughly 70% total sold.
I thought with such a central location it could not go wrong....sad news.

Maybe that's where the problem lies, 49% foreign ownership sold out and only 21% of the 51% thai ownership has sold. So its the Thais, not the Russians.

[sanemax]

55 minutes ago, silverbird said:

 

Damn, this means they probably won't finish it. Already paid 65% of the whole price.

Was informed that foreign ownership is sold out and roughly 70% total sold.

I thought with such a central location it could not go wrong....sad news.

That sounds like only about 50 %  of money needed to complete the project has been raised

[JSixpack]

4 hours ago, bkk6060 said:

Everyone says: Buy a condo, buy a condo!!..

 

No.

 

Quote

What a stupid thing to do...

 

Maybe, maybe not. Life's just so complicated. Now, that topic gets debated a few times a year. Is this yet another CONDO GLUT thread?

[champers]

53 minutes ago, JSixpack said:

. Is this yet another CONDO GLUT thread?

Niet, Comrade.

[starky]

Wouldnt have anything to do with dodgy developers starting projects they have no intention finishing. Fleecing as many guillable falang as they can for millions of baht upfront on a promise, then shooting through with the cash. No its the bloody Russians, case closed.

[Henryford]

14 hours ago, bkk6060 said:

Everyone says: Buy a condo, buy a condo!!.. What a stupid thing to do...

Only stupid if you buy a condo that doesn't exist yet.

[Asiantravel]

9 hours ago, JSixpack said:

 

No.

 

 

Maybe, maybe not. Life's just so complicated. Now, that topic gets debated a few times a year. Is this yet another CONDO GLUT thread?

it won't be long now JSixpack when we will be able to start throwing back at you some of your most infamous posts where you have totally ridiculed those that were warning of this upcoming scenario (which should have even been obvious to blind Freddy). Why do you immediately leap so often in defence of the condo market ? do you want to see your fellow expat's keep jumping in now that the writing is on the wall with a guaranteed loss of money?

Edited February 27, 2017 by Asiantravel

[JSixpack]

1 hour ago, Asiantravel said:

it won't be long now JSixpack when we will be able to start throwing back at you some of your most infamous posts where you have totally ridiculed those that were warning of this upcoming scenario (which should have even been obvious to blind Freddy).

 

Our old Cassandras have been reading their tea leaves and crying in the wilderness for decades. Yes, they must be tired of waiting for righteous justice and of being laughed at.  Fortunately a broken clock must be right twice a day, eh? Keep waiting for that upcoming scenario--"the writing's on the wall"--while I enjoy myself. The main point is that those stupid, wicked Thais should be taught a lesson.

 

 

Quote

Why do you immediately leap so often in defence of the condo market ?

 

Anyone with merely a rational, objective opinion daring to question the prophecies & doomster gospel gets labeled as partisan. "Maybe, maybe not" isn't a defense of anything OBVIOUSLY.

 

Now remember years ago I myself formulated the sage, street smart TVF Poster Three Primal Laws Of Survival In Thailand:

 

1. Never invest in anything you aren't ready to lose;

2. Never own more than you can carry with you;

3. Keep your suitcase packed at all times.

 

And I warned everyone to RUN! We don't know what nasty surprises are in store!

 

Quote

do you want to see your fellow expat's keep jumping in now that the writing is on the wall with a guaranteed loss of money?

 

The BBC finally put the writing on the wall! Whew! Well, an expat may or may not lose money. Just depends on the particular situation, sigh. Moreover, even if the expat did lose money it might not matter and he might consider it well spent anyway. Many examples could be adduced from other sectors--and countries. As I noted, life's just SO complicated.  

 

 

 

 

[swissmaninthailand]

I dont think builders want lose money and run away when it s more profitable to start another project and keep selling condo.

I remember all these new condos have started before the economic sanction right after Russian took the Crimea.

Just bad timing for everybody. Now better to buy condo already built than take the risk to buy off plan. There are just thousand and thousand of available condo all across thailand looking for buyers . seller are not lowering the price waiting 2 or 3 years. What will happen next?


Laguna 2 is finished very nice place.

[fforest1]

1 hour ago, Asiantravel said:

it won't be long now JSixpack when we will be able to start throwing back at you some of your most infamous posts where you have totally ridiculed those that were warning of this upcoming scenario (which should have even been obvious to blind Freddy). Why do you immediately leap so often in defence of the condo market ? do you want to see your fellow expat's keep jumping in now that the writing is on the wall with a guaranteed loss of money?

All the condos in Pattaya should be finished about the time we

get the ice skating rink in Harbor mall that Joe-sixpack

promised us or a much improved promenade on beach road

that we are still waiting for.... 

[JSixpack]

9 minutes ago, fforest1 said:

All the condos in Pattaya should be finished about the time we

get the ice skating rink in Harbor mall that Joe-sixpack

promised us or a much improved promenade on beach road

that we are still waiting for.... 

 

As I've noticed over the years, you do seem to have a problem with lying--cf. the "boarded up shops" in Central--but, as it's resorted to so often here on the forum, we have trained counselors standing by to help you overcome it. I'll suggest one render needful assistance for you if you continue lying about what I said or didn't say. 

[champers]

Yes, where is that skating rink? I've bought the skates, I've bought the tutu. All to no avail.

[scubascuba3]

The solution to this problem is move the Thai ownership for condos to 30%, pass this idea onto you know who and can have it for free and be a hero everywhere.

[Asiantravel]

5 hours ago, JSixpack said:

 

Our old Cassandras have been reading their tea leaves and crying in the wilderness for decades. Yes, they must be tired of waiting for righteous justice and of being laughed at.  Fortunately a broken clock must be right twice a day, eh? Keep waiting for that upcoming scenario--"the writing's on the wall"--while I enjoy myself. The main point is that those stupid, wicked Thais should be taught a lesson.

 

 

 

Anyone with merely a rational, objective opinion daring to question the prophecies & doomster gospel gets labeled as partisan. "Maybe, maybe not" isn't a defense of anything OBVIOUSLY.

 

Now remember years ago I myself formulated the sage, street smart TVF Poster Three Primal Laws Of Survival In Thailand:

 

1. Never invest in anything you aren't ready to lose;

2. Never own more than you can carry with you;

3. Keep your suitcase packed at all times.

 

And I warned everyone to RUN! We don't know what nasty surprises are in store!

 

 

The BBC finally put the writing on the wall! Whew! Well, an expat may or may not lose money. Just depends on the particular situation, sigh. Moreover, even if the expat did lose money it might not matter and he might consider it well spent anyway. Many examples could be adduced from other sectors--and countries. As I noted, life's just SO complicated.  

 

 

 

 

is it doom and gloom to simply point out that this same scenario is all around Asia not just in Thailand and not just in Pattaya i.e. an unsurpassed level of building and development based on the availability of cheap money without any consideration to due diligence or the normal rules of supply and demand?

  

and the BBC have simply exposed the inconvenient truth is that this country has nothing like an unbiased and independent judicial system so in any legal dispute involving property it can easily end up being a case of heads I win tails you lose. Why on earth would any sane and rational person want to put their money into a property market that doesn't even have a decent legal system to back it?

Edited February 27, 2017 by Asiantravel

[Langsuan Man]

1 hour ago, scubascuba3 said:

The solution to this problem is move the Thai ownership for condos to 30%, pass this idea onto you know who and can have it for free and be a hero everywhere.

No,  the solution to the problem is to require developers to post a non refundable bond to insure the completion of any project started