toenail Posted March 4, 2017 Share Posted March 4, 2017 I will repeat what has been said before... unlike Westerners, Thai owners (investors) will never lower their selling price or monthly rental price. It has something to do with "saving Face" which I find comical. Wouldn't it make more sense to sell a condo at a lower asking price than waiting 4...8 years before you can sell it? And we all know "old" condos or houses are not a hot item in Thailand; whereas, in most Western countries, if a place is maintained and is in a good location, it will appreciate in value (unlike in Thailand where MOST houses or condos depreciate in value -unless you are on the sea. Note: I am not talking about BKK). Yes, I know there are exceptions, but a few. Link to comment Share on other sites More sharing options...
pegman Posted March 4, 2017 Share Posted March 4, 2017 13 hours ago, david555 said: Hundreds waiting for return of money as massive Jomtien Condo ... www.thaivisa.com › ... › Pattaya Forum › Pattaya News Vertaal deze pagina 1 dag geleden - 25 berichten - 24 auteurs All building has stopped at Centara Grand Residence in Jomtien as the .... said building company will go bankrupt and all existing debts and ..... https://www.google.b...n go bankrupt&* = Centara Grand Jomtien bankrupt ...!!!!! Also on Pattaya One http://pattayaone.news/en/jomtien-project-goes-bust/....... Funny how the Pattaya 1 story does not mention Tulip Group. A Google search brings up tons of adverts stating them as the developers not Basil. 1 Link to comment Share on other sites More sharing options...
Popular Post BruceMangosteen Posted March 5, 2017 Popular Post Share Posted March 5, 2017 5 hours ago, pegman said: Funny how the Pattaya 1 story does not mention Tulip Group. A Google search brings up tons of adverts stating them as the developers not Basil. Said group seems to carry a big stick locally. Any mention of them is quickly either deleted or worse. I don't know exactly why but it has something to do with the nationality and religion of most of said residents of same. Anything negative you say or even think is immediately considered an admission of your racism, homophobic, anti Semite, etc. mindset and beliefs. Sort of like being a President Trump supporter. 4 Link to comment Share on other sites More sharing options...
giddyup Posted March 5, 2017 Share Posted March 5, 2017 10 hours ago, toenail said: I will repeat what has been said before... unlike Westerners, Thai owners (investors) will never lower their selling price or monthly rental price. It has something to do with "saving Face" which I find comical. Wouldn't it make more sense to sell a condo at a lower asking price than waiting 4...8 years before you can sell it? And we all know "old" condos or houses are not a hot item in Thailand; whereas, in most Western countries, if a place is maintained and is in a good location, it will appreciate in value (unlike in Thailand where MOST houses or condos depreciate in value -unless you are on the sea. Note: I am not talking about BKK). Yes, I know there are exceptions, but a few. Not just condos but houses as well. There are a couple of brand new houses in my village that have never been lived in, in the 8 years I've been here. The owners are asking more than they paid because they seem to think the properties have appreciated, and the houses are slowly deteriorating because of zero maintenance. Can't get my head around that kind of mentality. 1 Link to comment Share on other sites More sharing options...
Rimmer Posted March 5, 2017 Share Posted March 5, 2017 A video from a forbidden source has been removed Link to comment Share on other sites More sharing options...
Asiantravel Posted March 5, 2017 Share Posted March 5, 2017 (edited) 45 minutes ago, giddyup said: Not just condos but houses as well. There are a couple of brand new houses in my village that have never been lived in, in the 8 years I've been here. The owners are asking more than they paid because they seem to think the properties have appreciated, and the houses are slowly deteriorating because of zero maintenance. Can't get my head around that kind of mentality. because of technology the construction industry is in for a shakeup like it could never have imagined and people will never be able to justify the prices that have paid for property in the past. $10,000 for a house Edited March 5, 2017 by Asiantravel 2 Link to comment Share on other sites More sharing options...
onemorechang Posted March 5, 2017 Share Posted March 5, 2017 2 hours ago, BruceMangosteen said: Said group seems to carry a big stick locally. Any mention of them is quickly either deleted or worse. I don't know exactly why but it has something to do with the nationality and religion of most of said residents of same. Anything negative you say or even think is immediately considered an admission of your racism, homophobic, anti Semite, etc. mindset and beliefs. Sort of like being a President Trump supporter. You were doing ok ish, up to then. Oh well 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted March 5, 2017 Share Posted March 5, 2017 Not just condos but houses as well. There are a couple of brand new houses in my village that have never been lived in, in the 8 years I've been here. The owners are asking more than they paid because they seem to think the properties have appreciated, and the houses are slowly deteriorating because of zero maintenance. Can't get my head around that kind of mentality.Is it to do with them being a bit thick? 1 Link to comment Share on other sites More sharing options...
Popular Post giddyup Posted March 5, 2017 Popular Post Share Posted March 5, 2017 (edited) 3 minutes ago, scubascuba3 said: Is it to do with them being a bit thick? I think Thais have a mindset that won't allow them to sell anything for less than they paid. They would rather see a property sit empty for years, slowly crumbling away than reduce the price by one baht. They don't seem to understand if you take a loss, but then invest the money in term deposits they will be way ahead financially. Edited March 5, 2017 by giddyup 3 Link to comment Share on other sites More sharing options...
Allstars Posted March 5, 2017 Share Posted March 5, 2017 Centara is the first from possibly a long list, as I have personal knowledge of 2 large projects that will follow in the not so distant future. 2 Link to comment Share on other sites More sharing options...
silverbird Posted March 5, 2017 Share Posted March 5, 2017 2 hours ago, Allstars said: Centara is the first from possibly a long list, as I have personal knowledge of 2 large projects that will follow in the not so distant future. Is Golden Tulip behind Avenue mall one of these 2 large projects? Just asking because I invested a lot in it already. Link to comment Share on other sites More sharing options...
Asiantravel Posted March 5, 2017 Share Posted March 5, 2017 2 hours ago, Allstars said: Centara is the first from possibly a long list, as I have personal knowledge of 2 large projects that will follow in the not so distant future. the domino effect 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted March 5, 2017 Share Posted March 5, 2017 Is Golden Tulip behind Avenue mall one of these 2 large projects? Just asking because I invested a lot in it already.Yes its opposite Centara. Also has an entrance on Buakhao it seems Link to comment Share on other sites More sharing options...
BruceMangosteen Posted March 5, 2017 Share Posted March 5, 2017 9 minutes ago, scubascuba3 said: Yes its opposite Centara. Also has an entrance on Buakhao it seems I thought the Centara project was one of the Tulip group's? Your kind reply leaves us very confused. Thanks for any clarification and good luck to the members invested in these projects. The thought of these "developers" going home with all the money, flying first class no doubt, makes me sick. Talk is so very cheap. OO and God Bless You. Link to comment Share on other sites More sharing options...
BruceMangosteen Posted March 5, 2017 Share Posted March 5, 2017 7 hours ago, onemorechang said: You were doing ok ish, up to then. Oh well If you even agree with one thing President Trump says or does, you are in the group of all those labels attached to same. Equal if you mention a certain "developer" here in Pattaya. That was all mate. Cheers and lets have a beer okay? Link to comment Share on other sites More sharing options...
scubascuba3 Posted March 5, 2017 Share Posted March 5, 2017 I thought the Centara project was one of the Tulip group's? Your kind reply leaves us very confused. Thanks for any clarification and good luck to the members invested in these projects. The thought of these "developers" going home with all the money, flying first class no doubt, makes me sick. Talk is so very cheap. OO and God Bless You.The only 2 recent projects on soi 15 I'm aware of is Centara (with the aquarium in the restaurant), which i think has completed, certainly open for business. The other is Golden Tulip opposite Centara which has stalled. Barely moved since the same time last year, a few workers trying to give the impression its moving. Just bad luck buying offplan, some get finished ok no problem. Link to comment Share on other sites More sharing options...
BruceMangosteen Posted March 5, 2017 Share Posted March 5, 2017 (edited) 10 minutes ago, scubascuba3 said: The only 2 recent projects on soi 15 I'm aware of is Centara (with the aquarium in the restaurant), which i think has completed, certainly open for business. The other is Golden Tulip opposite Centara which has stalled. Barely moved since the same time last year, a few workers trying to give the impression its moving. Just bad luck buying offplan, some get finished ok no problem. There is a completed Centara branded hotel/resort completed on that Soi? Do you refer to the opposite side of said Soi? Coming from Avenues mall, one on the left is completed but the massive project on the right is somewhat stalled etc.? I'll try and get a look in the next few days myself but please prepare me. Thanks and regards. Which reminds me...some get finished, some don't, isn't exactly a good way to "invest" in real property. They often aren't really discounted "offplan", it's rather, just another sales technique unsuspecting buyers fall for. OO and God Bless You. Edited March 5, 2017 by BruceMangosteen Link to comment Share on other sites More sharing options...
scubascuba3 Posted March 5, 2017 Share Posted March 5, 2017 There is a completed Centara branded hotel/resort completed on that Soi? Do you refer to the opposite side of said Soi? Coming from Avenues mall, one on the left is completed but the massive project on the right is somewhat stalled etc.? I'll try and get a look in the next few days myself but please prepare me. Thanks and regards. Which reminds me...some get finished, some don't, isn't exactly a good way to "invest" in real property. They often aren't really discounted "offplan", it's rather, just another sales technique unsuspecting buyers fall for. OO and God Bless You.Yes the one on the right coming from the Avenue.I certainly wouldn't buy off plan it just smacks of big risk. Paying in instalments seems also fraught with danger. I certainly wouldn't revel in that guys may lose money, unlike others particularly those bitter poisonous BMs on Thaivisa. Link to comment Share on other sites More sharing options...
trogers Posted March 5, 2017 Share Posted March 5, 2017 9 hours ago, giddyup said: I think Thais have a mindset that won't allow them to sell anything for less than they paid. They would rather see a property sit empty for years, slowly crumbling away than reduce the price by one baht. They don't seem to understand if you take a loss, but then invest the money in term deposits they will be way ahead financially. Which is a mindset a shrewd investor can take advantage. Bought a 60 sqm 1-bedroom in 2008 at Bt50,000 above the original purchase price of 1996 and have been getting 9% gross rental yield since then. Link to comment Share on other sites More sharing options...
Banana7 Posted March 9, 2017 Share Posted March 9, 2017 On 3/5/2017 at 5:19 PM, scubascuba3 said: The only 2 recent projects on soi 15 I'm aware of is Centara (with the aquarium in the restaurant), which i think has completed, certainly open for business. The other is Golden Tulip opposite Centara which has stalled. Barely moved since the same time last year, a few workers trying to give the impression its moving. Just bad luck buying offplan, some get finished ok no problem. You can get a bargain at tulip. Link to comment Share on other sites More sharing options...
Watchful Posted March 10, 2017 Share Posted March 10, 2017 On 3/4/2017 at 10:07 AM, toenail said: I will repeat what has been said before... unlike Westerners, Thai owners (investors) will never lower their selling price or monthly rental price. It has something to do with "saving Face" which I find comical. Wouldn't it make more sense to sell a condo at a lower asking price than waiting 4...8 years before you can sell it? And we all know "old" condos or houses are not a hot item in Thailand; whereas, in most Western countries, if a place is maintained and is in a good location, it will appreciate in value (unlike in Thailand where MOST houses or condos depreciate in value -unless you are on the sea. Note: I am not talking about BKK). Yes, I know there are exceptions, but a few. One dynamic that Western property owners face is HUGE property taxes. This makes holding on to unused property very, very expensive. Failure to pay property taxes, of course, is equivalent to donating it to the government. Link to comment Share on other sites More sharing options...
Asiantravel Posted March 10, 2017 Share Posted March 10, 2017 1 hour ago, Watchful said: One dynamic that Western property owners face is HUGE property taxes. This makes holding on to unused property very, very expensive. Failure to pay property taxes, of course, is equivalent to donating it to the government. another dynamic that Western property developers face is banks insisting on a properly presented feasibility study before they agreed to advance any money 2 Link to comment Share on other sites More sharing options...
whatwasithinking Posted March 23, 2017 Share Posted March 23, 2017 On 27/02/2017 at 0:39 AM, 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. No work is being done in Golden tulip for some time & even many here in Centara avenue are worried for though majority of this building is complete apart from the gymnasium & roof top garden there is no foreigner as far as we know who has yet received their title transfer. We have been told many stories of when this would take place & why it has not as yet . We are all very concerned despite living here already until we get the title it means they owe money to the bank & we may well be evicted despite paying 100 % The waterfront & centara grand Jomtien now golden tulip so are we to follow the pack of cards 2 Link to comment Share on other sites More sharing options...
BruceMangosteen Posted March 23, 2017 Share Posted March 23, 2017 1 hour ago, whatwasithinking said: No work is being done in Golden tulip for some time & even many here in Centara avenue are worried for though majority of this building is complete apart from the gymnasium & roof top garden there is no foreigner as far as we know who has yet received their title transfer. We have been told many stories of when this would take place & why it has not as yet . We are all very concerned despite living here already until we get the title it means they owe money to the bank & we may well be evicted despite paying 100 % The waterfront & centara grand Jomtien now golden tulip so are we to follow the pack of cards I'm sure more than I are curious...Why would you pay 100 percent when they, the seller, wasn't able to convert the title of the unit to you? 1 Link to comment Share on other sites More sharing options...
whatwasithinking Posted March 23, 2017 Share Posted March 23, 2017 55 minutes ago, BruceMangosteen said: I'm sure more than I are curious...Why would you pay 100 percent when they, the seller, wasn't able to convert the title of the unit to you? Well the story of why i got involved here is a long one which started way back late in 2011 when such a large organisation as tulip group was a shining star & were already involved in Centara avenue with show rooms on each site . One would never have expected this from a multi national group . My end story is a bit different to others that are living here as to why i had already paid 100 % but others i have spoken with wanted to move in as the final completion date & transfer was meant to be no later then 4th quarter 2015 . I was in fact emailed February 2016 stating my condo was complete , ready to inspect & move in with transfer but i found out June that year this was far from the truth . Anyway others here were told they had to pay final key money before they could move in . Last July i was told a few months for the gym & transfers but 3 weeks ago was told same thing , We are all being treated like mushrooms with various people getting different answers . The latest answer is a delay with land titles office . One was told everybody in 1 of the 3 buildings had their title & he believed that until he met me as i owned in the building he was told had their titles . Another answer is only the thai buyers have their title because they needed it to get the loan from the bank Link to comment Share on other sites More sharing options...
Frank67 Posted March 23, 2017 Share Posted March 23, 2017 On 26.2.2017 at 3:36 PM, sanemax said: That sounds like only about 50 % of money needed to complete the project has been raised The developer actually just finished Centara Avenue and collects the last payments with the handover of these condos and the hotel. So they should collect money in the next three months to continue Golden Tulip. Plus the money they get from buyers they also get mortgage from banks and the calculation also includes some profit for the developer. So you can finish a project without selling 100%. In Pattaya it was pretty common that 10-20% of the Thai owned units where unsold at the time of completion even in well selling projects. Also Centara Avenue project was delayed by 2 years and construction stopped several times - but it looks very nice now. Still many condos just get finished (tiles, furniture etc.) now. Centrally located projects like these have good potential to survive as there is still demand. The deeper side streets of Jomtien, Wong Amat, East Pattaya and such will have more difficulties. Link to comment Share on other sites More sharing options...
scubascuba3 Posted March 25, 2017 Share Posted March 25, 2017 I hear Golden Tulips on Soi 15 may have been sold to another company. That's the word on the grapevine. Link to comment Share on other sites More sharing options...
whatwasithinking Posted March 25, 2017 Share Posted March 25, 2017 8 minutes ago, scubascuba3 said: I hear Golden Tulips on Soi 15 may have been sold to another company. That's the word on the grapevine. Yes have heard the same Apparently Nova group What its means for buyers in Golden Tulip or Centara avenue remains to be seens Link to comment Share on other sites More sharing options...
Nice Boyd Posted March 25, 2017 Share Posted March 25, 2017 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?Those are Chinese Black Money properties, all over Thailand, Thais won't live in them, mostly emptySent from my iPhone using Thaivisa Connect Link to comment Share on other sites More sharing options...
balo Posted March 25, 2017 Share Posted March 25, 2017 What about The Riviera Jomtien 2nd rd, has it finished yet ? They started promoting it many years ago, Link to comment Share on other sites More sharing options...
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