Jomtien View Talay Studio 400 k baht in 2004 ?

[Destiny1990]

49 minutes ago, newnative said:

You're welcome to think what you like--and skip right over my postings, for that matter.  I'm not promoting anything--well, sometimes maybe the flip side of things.  Sometimes when I post I am trying to correct misinformation--which there is a lot of on TV.  A lot of the postings are also negative--especially when it comes to condos.  And, that's understandable--people are more likely to take the time to complain than to say something positive.  I try to give a different point of view or maybe a little different perspective.   For example, there are lots of postings saying there are thousands and thousands of unsold condos in Pattaya, which may or may not be true.  But, I pointed out in the posting that you referenced that there is not an overabundance of highrise sea view condos in good locations--especially in central Pattaya.  You can probably count them on one hand--Unixx, The Base, Northshore, Centric Sea,  Markland.  Maybe one or two others.  That's not really a glut for a city Pattaya's size. We have lots of TVers reporting their woes with buying a condo; it seems one could be allowed to report some positive experiences as well for some balance.  And, if you say you have read my earlier posts, you should know that I've said that renting is a good option if you are here short-term or don't feel comfortable buying in Thailand.

But when when we look at these hightise seaview condos on good locations it seems to me from driving by that only max 1-3 units per floor are occupied.So there is not much demand for such units either.

[Destiny1990]

42 minutes ago, janclaes47 said:

 

No you always try to point out that there is no glut of condo's in Pattaya, that is something different from sea view condo's, and that is what most threads are about.

 

So now you point out that the sea view condo's can be counted on 1 hand. What about the several hundreds ( maybe thousands) of other condo buildings?

They are poorly occupied also And will not go up much in value after being bought from the developer thats the truth but if u plan to stay long time than buying is not a bad idea but capital appreciation is poorly pretty often.

[balo]

On one of my first trips to Thailand in 2004. I paid 12000 baht to rent in VT1 ,  Only short term rent 1 month.  Not sure what a 1 year contract would be back then. I remember it was a German owner , maybe he ripped me off.  I was new to Thailand so 12k sounded like a nice deal .

Edited May 6, 2017 by balo

[funandsuninbangkok]

6 hours ago, newnative said:

Cheapest listed on Hipflat for VT2 is 1.5MB, 5th floor. 

Sorry but I'm unwilling to page through the hundreds of units listed in VT2 on Hipflat to verify your claim. 

 

Anyway, who in their right might wants to live in a shoebox surrounded by Chinese and Russian tourists and ladyboy whores on meth?

[newnative]

6 hours ago, janclaes47 said:

 

No you always try to point out that there is no glut of condo's in Pattaya, that is something different from sea view condo's, and that is what most threads are about.

 

So now you point out that the sea view condo's can be counted on 1 hand. What about the several hundreds ( maybe thousands) of other condo buildings?

I think if you read my earlier postings I always have said there  is not a glut of highrise seaview condos in good locations. Re-read what I have written. I have also said several times that in my opinion there are too many of the 'theme park' lowrise condos in out of the way locations.  One of the problems with TV is people often don't read postings very carefully or pull out one tidbit to focus on and miss the whole point of the posting.  That was evident with one of the responses I got to the posting I did on renting for 12 years vs buying.  I picked 10,000 Baht as my monthly rental figure, thinking not too high or too low for a 12 year period, and, of course, got a response that rents weren't 10,000 Baht in 2004 and it was 'bulls**t" to expect a 17% return on a rental--something I wasn't even writing about. 

[newnative]

2 hours ago, funandsuninbangkok said:

Sorry but I'm unwilling to page through the hundreds of units listed in VT2 on Hipflat to verify your claim. 

 

Anyway, who in their right might wants to live in a shoebox surrounded by Chinese and Russian tourists and ladyboy whores on meth?

This is a good idea of what I am talking about regarding a lot of incorrect information on TV. The poster is 'unwilling' to page through 'hundreds' of units listed on Hipflat so he just picks a number out of his head--1.1MB.  If you actually go on Hipflat, which I did, you find that there are not pages that you need to go through or 'hundreds' of listings.  There are 29 condo listings for sale--some condos are listed more than one time by different agencies so actual condos for sale are less than 29. Studios range from 1.5MB to 2.3MB.  VT2 remains popular--location, location, location.  Apparently there are plenty who are ok living in a 'shoebox'' if the location or view is good.  (Another myth that people won't live in a small  space.)

[newnative]

6 hours ago, Destiny1990 said:

But when when we look at these hightise seaview condos on good locations it seems to me from driving by that only max 1-3 units per floor are occupied.So there is not much demand for such units either.

Not sure how much you can tell from 'driving by'.  Yet another myth--I don't see much activity, lights on at night, etc., etc. so most of the condos must be unsold.  Lots of condos are used just part-time. A better test is to go into the sales office and ask to see what sea view units are left for sale.  My mantra is always buy sea view because they hold their value better and are easier to sell.  We're at the beach.

[Destiny1990]

1 hour ago, newnative said:

Not sure how much you can tell from 'driving by'.  Yet another myth--I don't see much activity, lights on at night, etc., etc. so most of the condos must be unsold.  Lots of condos are used just part-time. A better test is to go into the sales office and ask to see what sea view units are left for sale.  My mantra is always buy sea view because they hold their value better and are easier to sell.  We're at the beach.

Atleast i can tell that all these condos in Pattaya have a very low occupancy rate.yes maldives atlantis parklane never went up in value and lots are for resale a seaview condo will be a better asset than those.

[Destiny1990]

4 hours ago, funandsuninbangkok said:

Sorry but I'm unwilling to page through the hundreds of units listed in VT2 on Hipflat to verify your claim. 

 

Anyway, who in their right might wants to live in a shoebox surrounded by Chinese and Russian tourists and ladyboy whores on meth?

Well atleast its matching because the building and its residents both look worn out.

[wpcoe]

4 hours ago, funandsuninbangkok said:

Sorry but I'm unwilling to page through the hundreds of units listed in VT2 on Hipflat to verify your claim. 

 

 

??? What Hipflat page are you looking at?  https://www.hipflat.co.th/en/pattaya/condo/view-talay-2 only lists 29 units for sale, and if you don't want to spend hours sifting through them, simply click on the Price heading and the listings will sort themselves in price order.

Edited May 7, 2017 by wpcoe

[GOLDBUGGY]

On 5/5/2017 at 5:12 PM, newnative said:

So, bought for 400,000B in 2004 and 300,000B spent to renovate it.  In for 700,000B.  Now it's worth around 1,400,000B.  12+ years of rent payments not thrown out the window.  At 10,000B a month that's around 1,440,000B saved--and the buyer's been able to live in his own space those years and do what he wants with it.  At this point he still has an asset he can continue to live in, rent it out to someone else, or sell it.  Can't see how that ends up being a 'very poor performer'.  Renting is often the best choice for short-terms but buying isn't always a bad decision if you are going to be some place for a number of years and like to own your space.

Yeah, this is why I bought to when I knew I was here Long Term. One just has to do the math like you did to see which one is better. 

[Bulldozer Dawn]

On 5/7/2017 at 7:59 AM, newnative said:

I think if you read my earlier postings I always have said there  is not a glut of highrise seaview condos in good locations. Re-read what I have written. I have also said several times that in my opinion there are too many of the 'theme park' lowrise condos in out of the way locations.  One of the problems with TV is people often don't read postings very carefully or pull out one tidbit to focus on and miss the whole point of the posting.  That was evident with one of the responses I got to the posting I did on renting for 12 years vs buying.  I picked 10,000 Baht as my monthly rental figure, thinking not too high or too low for a 12 year period, and, of course, got a response that rents weren't 10,000 Baht in 2004 and it was 'bulls**t" to expect a 17% return on a rental--something I wasn't even writing about. 

Nothing wrong with my reading skills.  You need to work on your story telling.

[newnative]

7 minutes ago, Bulldozer Dawn said:

Nothing wrong with my reading skills.  You need to work on your story telling.

I guess I could have started with "Once upon a time..." but it's a pretty simple story about buying a condo and living in it for 12 years versus renting a condo for 12 years.  You plucked out one item from the story, the rent being 10,000 Baht a month for the 12 years, and exclaimed that rent wasn't 10,000 Baht a month in 2004 and if it was the return on investment would have been 17%.   Since my story had absolutely nothing to do with buying a condo to rent out as an investment and not live in, that is why I questioned your reading skills.  And, of course, 2004 is just one year--the rent could have gone up over the  12 years and averaged 10,000 Baht a month.  I did say the buyer of the condo could, after the end of the 12 years, sell the condo, continue to live in it, or rent it out--that was my only reference to renting the condo. The 12 year period was, I think,  from the original posting but, for me, the economics of buying rather than renting make sense even for shorter periods because I like to own my own space, have  my own things, and make changes to the condo.  Many prefer the freedom of renting and not having their money tied up in a condo; nothing wrong with that--whatever floats your boat.