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

[whatwasithinking]

12 hours ago, scubascuba3 said:

The latest I've heard is the Golden Tulip wasn't the same multi national hotel chain, it just had a similar name.

 

Also Golden Tulip has been sold to Nova group and sales office etc has been changed.

 

 

I read the same somewhere myself i can't find it at the moment. Here is an another website that made claims otherwise . All i know is all people i know in Centara avenue are still waiting for their chanotes & the complex to be finished even now April 2017 & the company either does not respond or you get the standard 2 months time that has run for a year now 

 

http://pattayatoday.net/property-business/business-feature/it’s-all-golden-for-tulip-group/

[janclaes47]

On 4/8/2017 at 9:26 AM, thaibeachlovers said:

I love stories like this thread. Makes me happy to go around saying "I told you so", seeing as I'm in the never buy Thai property club.

 

Hmm, I thouht you lost a Thai property already, by your own admittance.

 

 

[thaibeachlovers]

On 4/13/2017 at 4:13 PM, pattayadude said:

you are so pathetic to find happiness and comfort on other's losses! I suggest you don't mention that in a bar to someone who's trying to deal with his financial loss he worked so hard for years!.you may end up in the ER

Hmmmm. If someone is so naive that in this day and age with google to help with research that they can't find out that buying property in LOS is a gamble at best, they should not be surprised if they "invest" loadsacash and it all goes phut.

Certainly, I have been warning about it at every opportunity for years, but the power of the saffron glasses is strong.

There might have been an excuse before the internet, but even then there were plenty of news items about such, and I was certainly aware in the 90s that it wasn't a good idea.

 

Whatever, Caveat Emptor and all that, and even more so in LOS ( more Land of Suckers than Smiles these days ).

 

I'm not usually "happy" that an individual got taken down, except for anyone that bought into that monstrocity blighting the shoreline. In that case I positively rejoice that people antisocial enough to support that horrid eyesore lost out.

[thaibeachlovers]

On 4/14/2017 at 6:11 AM, janclaes47 said:

 

Hmm, I thouht you lost a Thai property already, by your own admittance.

 

 

Hmmmm. I agree that it probably looked as though I "bought" the property, but it wasn't ever "mine" in a legal sense. My excuse is that paying it off was the price I had to pay for her to marry me, though it would have been better for me if I hadn't and she didn't.

Yes, I was naive to believe that a Thai woman wouldn't play the long con on me, and I got burnt. Plenty of threads about that too, so I was foolish to believe that someone wasn't a lying harpie for 18 months before we finally got married. Yes, I got burned big time on that one, but at least I didn't buy the house in the village she wanted me to build for her, and I was able to walk away in the end ( never spend more on a Thai woman than you can afford to lose etc ). Also I never gave her family anything more than a cheap fridge- I wasn't going to get caught on that con- or paid sin sod.

However, I do think that was different from someone coming to Thailand and buying a property for themselves. OTY if that satisfies you.

 

BTW, are you keeping a file on me? Not many would have seen that thread.

[Asiantravel]

21 minutes ago, thaibeachlovers said:

Hmmmm. If someone is so naive that in this day and age with google to help with research that they can't find out that buying property in LOS is a gamble at best, they should not be surprised if they "invest" loadsacash and it all goes phut.

Certainly, I have been warning about it at every opportunity for years, but the power of the saffron glasses is strong.

There might have been an excuse before the internet, but even then there were plenty of news items about such, and I was certainly aware in the 90s that it wasn't a good idea.

 

Whatever, Caveat Emptor and all that, and even more so in LOS ( more Land of Suckers than Smiles these days ).

 

I'm not usually "happy" that an individual got taken down, except for anyone that bought into that monstrocity blighting the shoreline. In that case I positively rejoice that people antisocial enough to support that horrid eyesore lost out.

oh !!!  but they promised property prices never go down in LOS  !!

[JSixpack]

6 minutes ago, Asiantravel said:

oh !!!  but they promised property prices never go down in LOS  !!

 

The usual crap. Who's "they" and who would believe it if "they" did? Give us some references with that promise of never.  Meanwhile we're still waiting for your prophecy to come true that prices will go down Real Soon Now. The Great Crash, at last. When's that happening exactly? Be a great time for further investment. :)

[Asiantravel]

24 minutes ago, JSixpack said:

 

The usual crap. Who's "they" and who would believe it if "they" did? Give us some references with that promise of never.  Meanwhile we're still waiting for your prophecy to come true that prices will go down Real Soon Now. The Great Crash, at last. When's that happening exactly? Be a great time for further investment. :)

what's the point if I provide references that don't suit you you simply report me to the moderators (as you have done so often now) and have the post removed

[JSixpack]

2 hours ago, Asiantravel said:

what's the point if I provide references that don't suit you you simply report me to the moderators (as you have done so often now) and have the post removed

 

It's not a matter of whether a reference "suits" me or not but whether it has direct relevance to the topic, which yours almost never do. I don't "have" any post removed. If your post is removed, it's merely because the post doesn't conform to the rules of the forum, i.e, is bickering, flaming, overgeneralizing, nonsensical, off topic, etc. In this case, you don't have any references that claim Thai real estate values "never" go down, so your post is merely nonsense---and reflects a propensity to construct straw men.

Edited April 20, 2017 by JSixpack

[scubascuba3]

Hmmmm. I agree that it probably looked as though I "bought" the property, but it wasn't ever "mine" in a legal sense. My excuse is that paying it off was the price I had to pay for her to marry me, though it would have been better for me if I hadn't and she didn't.
Yes, I was naive to believe that a Thai woman wouldn't play the long con on me, and I got burnt. Plenty of threads about that too, so I was foolish to believe that someone wasn't a lying harpie for 18 months before we finally got married. Yes, I got burned big time on that one, but at least I didn't buy the house in the village she wanted me to build for her, and I was able to walk away in the end ( never spend more on a Thai woman than you can afford to lose etc ). Also I never gave her family anything more than a cheap fridge- I wasn't going to get caught on that con- or paid sin sod.
However, I do think that was different from someone coming to Thailand and buying a property for themselves. OTY if that satisfies you.
 
BTW, are you keeping a file on me? Not many would have seen that thread.

Isn't it more that if you are gullible don't buy property or women long term

[bkk6060]

Buying here can make some sense I guess if you are younger.  I don't understand the 65 year olds buying. I know several recently who have. They say, "I have something to leave to my family".  Really?  So, your daughters who have never been here want to inherit a condo in Pattaya?

Financially, it makes much more sense to invest that money and rent.  I bet they would rather have the liquid assets, not a condo in Pattaya. 

[Pattaya46]

3 hours ago, bkk6060 said:

I don't understand the 65 year olds buying.

Simple. At 65 he can expect to live at least 20 years, a more than enough time to buy the condo with the money he would have used in rent.

[Henryford]

3 hours ago, bkk6060 said:

Buying here can make some sense I guess if you are younger.  I don't understand the 65 year olds buying. I know several recently who have. They say, "I have something to leave to my family".  Really?  So, your daughters who have never been here want to inherit a condo in Pattaya?

Financially, it makes much more sense to invest that money and rent.  I bet they would rather have the liquid assets, not a condo in Pattaya. 

But after paying rent for 10 years + you will have neither.

[pattayadude]

3 hours ago, bkk6060 said:

Buying here can make some sense I guess if you are younger.  I don't understand the 65 year olds buying. I know several recently who have. They say, "I have something to leave to my family".  Really?  So, your daughters who have never been here want to inherit a condo in Pattaya?

Financially, it makes much more sense to invest that money and rent.  I bet they would rather have the liquid assets, not a condo in Pattaya. 

at 65, it all depends on how much of your wealth you allocate on the purchase of a condo AND whether or not you call that city "home".

IMO,If the condo/house is 40-50% of your total cash asset(i.e. $2M), you'll be ok even if it's a bad deal.Pros of owning your own is decorate the way you want, knock down walls and make larger living and sleeping areas.

Buying at 65 isn't a good idea if you spend more than  6-7 months away(another country or countries) from that condo and the cost of it is more than 70% of your total cash asset (unless you are multi millionaire and if so, none of the above really matters)

[scubascuba3]

Simple. At 65 he can expect to live at least 20 years, a more than enough time to buy the condo with the money he would have used in rent.

I haven't met one guy over 80 yet. When the discussion comes up most expats say they plan to go back to their home country when they get to a certain age, mainly for healthcare reasons.

[scubascuba3]

at 65, it all depends on how much of your wealth you allocate on the purchase of a condo AND whether or not you call that city "home".
IMO,If the condo/house is 40-50% of your total cash asset(i.e. $2M), you'll be ok even if it's a bad deal.Pros of owning your own is decorate the way you want, knock down walls and make larger living and sleeping areas.
Buying at 65 isn't a good idea if you spend more than  6-7 months away(another country or countries) from that condo and the cost of it is more than 70% of your total cash asset (unless you are multi millionaire and if so, none of the above really matters)

Have you been to Pattaya? Know many people buying $1m condos or houses?

[joeyg]

On 2/26/2017 at 5:12 PM, petermik said:

Thai,s do not plan

Only Americans plan.  We have plans for "you" and your countries! 

[theguyfromanotherforum]

Simple. At 65 he can expect to live at least 20 years, a more than enough time to buy the condo with the money he would have used in rent.

I don't want to be disrespectful, but with state of healthcare in Thailand and many guys drinking habits, is 20 years really realistic?

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[Pattaya46]

23 hours ago, scubascuba3 said:

I haven't met one guy over 80 yet. When the discussion comes up most expats say they plan to go back to their home country when they get to a certain age, mainly for healthcare reasons.

You must be joking? Just among the guys I know in my condo there are 3 that are above 80. And looking by the number of wheelchairs and walkers/zimmers I see in Pattaya, there are surely hundreds of expats above 80 yo.

 

1 hour ago, theguyfromanotherforum said:

I don't want to be disrespectful, but with state of healthcare in Thailand and many guys drinking habits, is 20 years really realistic?

 

- healthcare in Pattaya is no different than in western countries: very good

- heavy drinkers are mainly 3-weeks tourists, not old expats

[pattayadude]

On 4/21/2017 at 1:05 PM, scubascuba3 said:

Have you been to Pattaya? Know many people buying $1m condos or houses?

$1M is basically the limit one should spend on a condo if his total cash in hand is $2M.

Some large (400sqm)penthouses have sold for $1M in Pattaya.

I do know a few people..i.e. One of them owns 250sqm in Central pattaya condo and a 270sqm in Jomtien and a 150 sqm in Naklua total value exceeds $1.5M.He loves to spend time in every one for a while.It is what it is

Btw whether or not I know people buying $1M condo is irrelevant.There are millions of wealthy people in the world and what they do with their wealth is their business

However, sticking to the 50% ratio is more important than the example of $2M cash/$1M condo at 65

[balo]

15 hours ago, Pattaya46 said:

- heavy drinkers are mainly 3-weeks tourists, not old expats

Not so sure about that .......  

[tropo]

On 4/20/2017 at 4:29 PM, JSixpack said:

 

The usual crap. Who's "they" and who would believe it if "they" did? Give us some references with that promise of never.  Meanwhile we're still waiting for your prophecy to come true that prices will go down Real Soon Now. The Great Crash, at last. When's that happening exactly? Be a great time for further investment. :)

 

As I mentioned before, I've been out hunting for a house to rent. I've been all over the place, to all areas of Pattaya. I've been in contact with dozens of real estate agents. I've looked at hundreds of places (online and in person). My budget is 30k give or take a few thousand. I am finding it very difficult to find a good place to rent. Every time I see a good one that I like, the agent gets back to me: "rented out", "rented for a year", one place was rented out for 3 years LOL. You actually have to be lucky to find a very nice place in a good location, especially on the west side of Sukhumvit. There are hardly any decent places to rent on this side, and 30k doesn't get you much. I was looking last year too and had the same problem. I ended up staying where I was.

 

I had to mention this because everyone is predicting that the bottom is falling out of the market. Only overpriced, badly furnished, rough places are finding it difficult to get good tenants. All the good stuff is quickly snatched up - more quickly than I can get to it... and this is now the quiet season.

 

If you make your condo nice, furnish it well and price it reasonably, you will have absolutely no problem finding tenants. If you have 40m2 and expect 20k or more, you probably won't get tenants.  

 

Thai landlords often fill beautiful big houses with junk and try to get high rentals. You see a beautiful house on the outside, but the inside is like a junk yard. The problem is not with the market, but with the overly high expectations of some landlords.

 

Sure, if you only need a place to sleep - no problem. If you're looking for a nice home - not so easy.

 

I've met a number of very wealthy foreign landlords who own dozens of places and they continue to buy, build and expand. The smart people are making money.

 

 

[KittenKong]

14 hours ago, pattayadude said:

$1M is basically the limit one should spend on a condo if his total cash in hand is $2M.

...........................

However, sticking to the 50% ratio is more important than the example of $2M cash/$1M condo at 65

 

I would be very unwilling to put more than 10% of my net wealth into Thai property as I simply dont trust Thais or Thailand that much. My condo was well under 10%.

 

As for people getting old here, yes there are many in my building who clearly intend to die here (plenty already have). There are also those, like me, who intend to go elsewhere to die, if they have time.

[pattayadude]

3 hours ago, KittenKong said:

 

I would be very unwilling to put more than 10% of my net wealth into Thai property as I simply dont trust Thais or Thailand that much. My condo was well under 10%.

 

As for people getting old here, yes there are many in my building who clearly intend to die here (plenty already have). There are also those, like me, who intend to go elsewhere to die, if they have time.

i personally would avoid calculating too much after 65 and sort of "turn the tap on for a better flow" providing I have the means to do so. Always try to spend wisely but  reminding myself before making big financial decisions that end is getting near .

If that means living in a very nice and somewhat expensive condo with a nice view in a city/country where I feel happy, I'd go for it.

Without going too much off-topic here, this may even be the right time to do that especially with lower baht and with Russians leaving (and not coming back) because of the fact that RU-Turkish relationship is back to normal once again after the downing of the Russian jet in 2015 and it's a fact that they much rather spend their holidays in south of Turkey with it's proximity to RU, 8-9 months of mild climate,much better accommodations and super cheap package deals.

[JSixpack]

2 hours ago, pattayadude said:

i personally would avoid calculating too much after 65 and sort of "turn the tap on for a better flow" providing I have the means to do so. Always try to spend wisely but  reminding myself before making big financial decisions that end is getting near .

If that means living in a very nice and somewhat expensive condo with a nice view in a city/country where I feel happy, I'd go for it.

Without going too much off-topic here, this may even be the right time to do that especially with lower baht and with Russians leaving (and not coming back) because of the fact that RU-Turkish relationship is back to normal once again after the downing of the Russian jet in 2015 and it's a fact that they much rather spend their holidays in south of Turkey with it's proximity to RU, 8-9 months of mild climate,much better accommodations and super cheap package deals.

 

Like your post except I dunno where "lower baht" is coming from. Anyway, best be prepared whether the baht is lower or higher, as it can't be predicted w/ certainty. 

 

 

6 hours ago, KittenKong said:

As for people getting old here, yes there are many in my building who clearly intend to die here (plenty already have). There are also those, like me, who intend to go elsewhere to die, if they have time.

 

Exactly. Same in my building. One old Swiss was around 90 when he departed for that great Pattaya Beer Bar In The Sky (PBBITS). Had such a lovely companion in his final years, too. Sure beat a nursing home in the West. Wonder what happened to her . . . .

[scubascuba3]

 
I would be very unwilling to put more than 10% of my net wealth into Thai property as I simply dont trust Thais or Thailand that much. My condo was well under 10%.
 
As for people getting old here, yes there are many in my building who clearly intend to die here (plenty already have). There are also those, like me, who intend to go elsewhere to die, if they have time.

I agree 50% in Thai property doesn't sound right at all, 50% in London for example i can understand

[JimCrane]

a lot of these russians mee thinks were not going to live in the condos anyways. many of the existing ones seem empty.

 

were these purchased to rent out, as investments or just as vacation homes? seems crazy to buy new when you could just hop around and rent.

 

maybe russians are easily duped thinking there were more tenants or the prices would rise. not sure hoe this works in russia.

[JSixpack]

7 hours ago, tropo said:

As I mentioned before, I've been out hunting for a house to rent. I've been all over the place, to all areas of Pattaya. I've been in contact with dozens of real estate agents. I've looked at hundreds of places (online and in person). My budget is 30k give or take a few thousand. I am finding it very difficult to find a good place to rent. Every time I see a good one that I like, the agent gets back to me: "rented out", "rented for a year", one place was rented out for 3 years LOL. You actually have to be lucky to find a very nice place in a good location, especially on the west side of Sukhumvit. There are hardly any decent places to rent on this side, and 30k doesn't get you much. I was looking last year too and had the same problem. I ended up staying where I was.

 

I had to mention this because everyone is predicting that the bottom is falling out of the market. Only overpriced, badly furnished, rough places are finding it difficult to get good tenants. All the good stuff is quickly snatched up - more quickly than I can get to it... and this is now the quiet season.

 

If you make your condo nice, furnish it well and price it reasonably, you will have absolutely no problem finding tenants. If you have 40m2 and expect 20k or more, you probably won't get tenants.  

 

Thai landlords often fill beautiful big houses with junk and try to get high rentals. You see a beautiful house on the outside, but the inside is like a junk yard. The problem is not with the market, but with the overly high expectations of some landlords.

 

Sure, if you only need a place to sleep - no problem. If you're looking for a nice home - not so easy.

 

I've met a number of very wealthy foreign landlords who own dozens of places and they continue to buy, build and expand. The smart people are making money.

 

 

 

Great post underlining the reality of the market as opposed to renters' hopes and dreams--and ace TVF real estate expert predictions. Been hearing about the imminent Great Crash for at least a decade from our doomsters. Note the deafening silence when the question of exactly when is asked. Investors, impecunious pensioners, and generic renters carefully following the insiders' ace lights on at night  indicator would like to know, rather than waiting for broken clocks finally to be right.

 

 

Where shall we start today?

 

 

 

[scubascuba3]

a lot of these russians mee thinks were not going to live in the condos anyways. many of the existing ones seem empty.
 
were these purchased to rent out, as investments or just as vacation homes? seems crazy to buy new when you could just hop around and rent.
 
maybe russians are easily duped thinking there were more tenants or the prices would rise. not sure hoe this works in russia.

Back in the UK 10 or 20 years ago it was the in thing to buy an apartment in Spain or Portugal, a status thing, even if it was like little Britain. Maybe Russians were going through that phase.

[scubascuba3]

 
Great post underlining the reality of the market as opposed to renters' hopes and dreams--and ace TVF real estate expert predictions. Been hearing about the imminent Great Crash for at least a decade from our doomsters. Note the deafening silence when the question of exactly when is asked. Investors, impecunious pensioners, and generic renters carefully following the insiders' ace lights on at night  indicator would like to know, rather than waiting for broken clocks finally to be right.
 
 

Where shall we start today?
 
 
 

Predicting a crash in any country is difficult, always takes longer than expected

[tropo]

39 minutes ago, JSixpack said:

 

Great post underlining the reality of the market as opposed to renters' hopes and dreams--and ace TVF real estate expert predictions. Been hearing about the imminent Great Crash for at least a decade from our doomsters. Note the deafening silence when the question of exactly when is asked. Investors, impecunious pensioners, and generic renters carefully following the insiders' ace lights on at night  indicator would like to know, rather than waiting for broken clocks finally to be right.

 

 

Where shall we start today?

 

 

 

 

I must say I was surprised. Being a perennial renter and in the same house for over 6 years, I haven't been out looking for a long time. Going by all the rhetoric I've been reading on TVF for years, I expected I would just fall into a fantastic rental house at a reduced rate and have many to choose from. Over the time since my last extensive search in late 2010, I can confirm that the average rent for the type of place I'm looking for has risen at least 5000 per month, and they're not easy to find in convenient locations. I have no choice but to increase my budget or accept a downgrade.